Large-aspect-ratio limit of neoclassical transport theory.

Science.gov (United States)

Wong, S K; Chan, V S

2003-06-01

This paper presents a comprehensive description of neoclassical transport theory in the banana regime for large-aspect-ratio flux surfaces of arbitrary shapes. The method of matched-asymptotic expansions is used to obtain analytical solutions for plasma distribution functions and to compute transport coefficients. The method provides justification for retaining only the part of the Fokker-Planck operator that involves the second derivative with respect to the cosine of the pitch angle for the trapped and barely circulating particles. It leads to a simple equation for the freely circulating particles with boundary conditions that embody a discontinuity separating particles moving in opposite directions. Corrections to the transport coefficients are obtained by generalizing an existing boundary layer analysis. The system of moment and field equations is consistently taken in the cylinder limit, which facilitates the discussion of the treatment of dynamical constraints. It is shown that the nonlocal nature of Ohm's law in neoclassical theory renders the mathematical problem of plasma transport with changing flux surfaces nonstandard.

Experimental confirmation of neoclassical Compton scattering theory

Energy Technology Data Exchange (ETDEWEB)

Aristov, V. V., E-mail: aristov@iptm.ru [Russian Academy of Sciences, Institute of Microelectronics Technology and High Purity Materials (Russian Federation); Yakunin, S. N. [National Research Centre “Kurchatov Institute” (Russian Federation); Despotuli, A. A. [Russian Academy of Sciences, Institute of Microelectronics Technology and High Purity Materials (Russian Federation)

2013-12-15

Incoherent X-ray scattering spectra of diamond and silicon crystals recorded on the BESSY-2 electron storage ring have been analyzed. All spectral features are described well in terms of the neoclassical scattering theory without consideration for the hypotheses accepted in quantum electrodynamics. It is noted that the accepted tabular data on the intensity ratio between the Compton and Rayleigh spectral components may significantly differ from the experimental values. It is concluded that the development of the general theory (considering coherent scattering, incoherent scattering, and Bragg diffraction) must be continued.

Large orbit neoclassical transport

International Nuclear Information System (INIS)

Lin, Z.; Tang, W.M.; Lee, W.W.

1997-01-01

Neoclassical transport in the presence of large ion orbits is investigated. The study is motivated by the recent experimental results that ion thermal transport levels in enhanced confinement tokamak plasmas fall below the open-quotes irreducible minimum levelclose quotes predicted by standard neoclassical theory. This apparent contradiction is resolved in the present analysis by relaxing the basic neoclassical assumption that the ions orbital excursions are much smaller than the local toroidal minor radius and the equilibrium scale lengths of the system. Analytical and simulation results are in agreement with trends from experiments. The development of a general formalism for neoclassical transport theory with finite orbit width is also discussed. copyright 1997 American Institute of Physics

Neoclassical and Institutional Economics as Foundations for Human Resource Development Theory

Science.gov (United States)

Wang, Greg G.; Holton, Elwood F., III

2005-01-01

In an effort to more comprehensively understand economics as a foundation of human resource development (HRD), this article reviews economic theories and models pertinent to HRD research and theory building. By examining neoclassical and neoinstitutional schools of contemporary economics, especially the screening model and the internal labor…

COMPETITION: CLASSICAL VERSUS NEOCLASSICAL VIEW

OpenAIRE

Mihaela Cornelia Sandu

2013-01-01

Competition is an important element from economical theory. Over time it has experienced several definitions and classifications much of them being contradictory. In this paper I will make a parallel between classical and neoclassical point of view according to competition. Keywords. Competition; neoclassical theory; classical theory; monopolistic; perfect competition.

Is Teaching Neoclassical Economics as "the" Science of Economics Moral?

Science.gov (United States)

Parvin, Manoucher

1992-01-01

Discusses the morality of teaching neoclassical theory as the only science of economics. Argues that the teaching of neoclassical theory violates moral principles unless each and every attribute of neoclassical theory is proven superior to corresponding attributes of competing theories. Criticizes neoclassical economics for teaching what rather…

Neoclassical kinetic theory near the edge of a diverted tokamak plasma

International Nuclear Information System (INIS)

Solano, E.R.; Hazeltine, R.D.

1993-01-01

In a diverted plasma, the poloidal magnetic field has a strong poloidal variation, approaching zero near the X-point. Typically, neoclassical theory is based on ordering assumptions about the 3 characteristic frequencies present in the problem: streaming, collisions and drift. In a circular geometry, the streaming freuency is constant, while the drift frequency has a sin(θ) variation. In a shaped plasma, the streaming frequency also has a poloidal variation. The ordering is now established by the amplitude of these frequencies. With a model poloidal flux function, the authors solve the drift kinetic equation inside, but near, the separatrix. Both the plateau and collisional regime are considered. Ion rotation rates, and their poloidal variation, are calculated. It is shown that the standard neoclassical rotation predictions still hold, when correctly interpreted. Other neoclassical fluxes are calculated as well

Experimental study of neoclassical currents

International Nuclear Information System (INIS)

Zarnstorff, M.C.; Prager, S.C.

1985-05-01

A detailed experimental study is presented of the bootstrap and Pfirsch-Schlueter currents that are predicted by neoclassical transport theory. In a toroidal octupole, on magnetic surfaces within the separatrix, the observed parallel plasma currents are in excellent quantitative agreement with neoclassical theory with regard to the spatial structure (along a magnetic surface), collisionality dependence and toroidal magnetic field dependence. On magnetic surfaces outside the separatrix, the ion portion of the parallel current is in agreement with neoclassical theory but the electron parallel current is observed to obtain a unidirectional component which deviates from and exceeds the theoretical prediction

Neoclassical transport in toroidal systems

International Nuclear Information System (INIS)

Wobig, H.

1992-01-01

The neoclassical theory of general toroidal equilibria is reformulated. The toroidal equilibrium of tokamaks and stellarators are described in Hamada coordinates. The relevant geometrical parameters are identified and it is shown how the reduction of Pfirsch-Schluter currents affects neoclassical transport and bootstrap effects. General flux-friction relations between thermodynamic forces and fluxes are derived. In drift-kinetic approximation the neoclassical transport coefficients are Onsager symmetric. Since a toroidal loop voltage is included, the theory is valid for all toroidal systems. (Author)

Neoclassical theory of elementary charges with spin of 1/2

Energy Technology Data Exchange (ETDEWEB)

Babin, Anatoli; Figotin, Alexander [Department of Mathematics University of California at Irvine, Irvine, California 92697-3875 (United States)

2014-08-15

We advance here our neoclassical theory of elementary charges by integrating into it the concept of spin of 1/2. The developed spinorial version of our theory has many important features identical to those of the Dirac theory such as the gyromagnetic ratio, expressions for currents including the spin current, and antimatter states. In our theory, the concepts of charge and anticharge relate naturally to their “spin” in its rest frame in two opposite directions. An important difference with the Dirac theory is that both the charge and anticharge energies are positive whereas their frequencies have opposite signs.

Dynamic competition and enterprising discovery: Kirzner’s market process theory

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Ahmet İhsan KAYA

2011-12-01

Full Text Available Market process theory is designed by the followers of Austrian School tradition as an alternative to neo-classic price theory in order to explain perceptible markets. Contrary to neo-classic economy which focuses on the concept of equilibrium, market process theory seeks to explore unequilibrium and direction to equilibrium. While doing so, the role of enterprenuer in dealing with limited information which is not taken into consideration in the price theory of neo-classic economy, uncertainty because of time and uncertainty which occurs in market underpins Israel Kirzner's analyses. In the study, Kirzner's competition and enterpreneurship theory is discussed with the contributions of Mises and Hayek. The study constitutes an introduction to market process theory of Kirzner.

Gyrokinetic particle simulation of neoclassical transport

International Nuclear Information System (INIS)

Lin, Z.; Tang, W.M.; Lee, W.W.

1995-01-01

A time varying weighting (δf ) scheme for gyrokinetic particle simulation is applied to a steady-state, multispecies simulation of neoclassical transport. Accurate collision operators conserving momentum and energy are developed and implemented. Simulation results using these operators are found to agree very well with neoclassical theory. For example, it is dynamically demonstrated that like-particle collisions produce no particle flux and that the neoclassical fluxes are ambipolar for an ion--electron plasma. An important physics feature of the present scheme is the introduction of toroidal flow to the simulations. Simulation results are in agreement with the existing analytical neoclassical theory. The poloidal electric field associated with toroidal mass flow is found to enhance density gradient-driven electron particle flux and the bootstrap current while reducing temperature gradient-driven flux and current. Finally, neoclassical theory in steep gradient profile relevant to the edge regime is examined by taking into account finite banana width effects. In general, in the present work a valuable new capability for studying important aspects of neoclassical transport inaccessible by conventional analytical calculation processes is demonstrated. copyright 1995 American Institute of Physics

Nonlinear neoclassical transport in toroidal edge plasmas

International Nuclear Information System (INIS)

Fueloep, T.

2002-01-01

Edge plasma processes play a critical role for the global confinement of the plasma in a tokamak. In the edge region, where impurity ions are abundant and the temperature and density gradients are large, the assumptions of standard neoclassical theory break down. This paper reviews recent extensions of neoclassical theory to treat this problem, in particular our own work, which focuses on the nonlinear aspects of transport in a plasma with heavy impurity ions. In this theory, the pressure and temperature gradients are allowed to be steeper than in conventional theory neoclassical theory, so that the friction force between the bulk ions and heavy impurities is comparable to the parallel impurity pressure gradient. The impurity ions are then found to undergo a spontaneous rearrangement on each flux surface. This reduces their parallel friction with the bulk ions and causes the neoclassical ion flux to become a non-monotonic function of the gradients for plasma parameters typical of the tokamak edge. Thus, the neoclassical confinement is improved in regions where the gradients are large, such as in the edge pedestal. (orig.)

Neoclassical islands on COMPASS-D

International Nuclear Information System (INIS)

Gates, D.A.; Lloyd, B.; Morris, A.W.; McArdle, G.; O'Brien, M.R.; Valovic, M.; Warrick, C.D.; Wilson, H.R.

1997-01-01

Neoclassical magnetic islands are observed to limit the achievable β in COMPASS-D low collisionality single null divertor tokamak plasmas with ITER-like geometry (R 0 = 0.56 m, B 0 1.2 T, I p = 120-180 kA, κ = 1.6, ε = 0.3). The limiting β is typically well below that expected from ideal instabilities with maximum βN in the range of 1.6 to 2.1. The plasma is heated with up to 1.8 MW of 60 GHz electron cyclotron resonance heating (ECRH) at the second harmonic with X mode polarization. The time history of the measured island width is compared with the predictions of neoclassical tearing mode theory, with good agreement between theory and experiment. The measured islands have a threshold width below which the mode will not grow. The density scaling of the point of onset of the measured instabilities is compared with two theories that predict a threshold island width for the onset of neoclassical tearing modes. Applied resonant helical error fields are used to induce islands in collisionality regimes wherein the neoclassical islands do not occur naturally, allowing the study of the behaviour of neoclassical tearing modes in this regime. The critical β for the onset of neoclassical tearing modes is seen to be ∼3 times higher in the naturally stable region. This observation is compared with the predictions of both threshold theories. A simple expression for the q scaling of the maximum achievable β N in the presence of neoclassical tearing modes is derived on the basis of the assumption of a maximum allowable island width. The predicted q scaling of this β limit is compared with data from a q scan, and the results are in good agreement. (author)

How energy conversion drives economic growth far from the equilibrium of neoclassical economics

International Nuclear Information System (INIS)

Kümmel, Reiner; Lindenberger, Dietmar

2014-01-01

Energy conversion in the machines and information processors of the capital stock drives the growth of modern economies. This is exemplified for Germany, Japan, and the USA during the second half of the 20th century: econometric analyses reveal that the output elasticity, i.e. the economic weight, of energy is much larger than energy's share in total factor cost, while for labor just the opposite is true. This is at variance with mainstream economic theory according to which an economy should operate in the neoclassical equilibrium, where output elasticities equal factor cost shares. The standard derivation of the neoclassical equilibrium from the maximization of profit or of time-integrated utility disregards technological constraints. We show that the inclusion of these constraints in our nonlinear-optimization calculus results in equilibrium conditions, where generalized shadow prices destroy the equality of output elasticities and cost shares. Consequently, at the prices of capital, labor, and energy we have known so far, industrial economies have evolved far from the neoclassical equilibrium. This is illustrated by the example of the German industrial sector evolving on the mountain of factor costs before and during the first and the second oil price explosion. It indicates the influence of the ‘virtually binding’ technological constraints on entrepreneurial decisions, and the existence of ‘soft constraints’ as well. Implications for employment and future economic growth are discussed. (paper)

How energy conversion drives economic growth far from the equilibrium of neoclassical economics

Science.gov (United States)

Kümmel, Reiner; Lindenberger, Dietmar

2014-12-01

Energy conversion in the machines and information processors of the capital stock drives the growth of modern economies. This is exemplified for Germany, Japan, and the USA during the second half of the 20th century: econometric analyses reveal that the output elasticity, i.e. the economic weight, of energy is much larger than energy's share in total factor cost, while for labor just the opposite is true. This is at variance with mainstream economic theory according to which an economy should operate in the neoclassical equilibrium, where output elasticities equal factor cost shares. The standard derivation of the neoclassical equilibrium from the maximization of profit or of time-integrated utility disregards technological constraints. We show that the inclusion of these constraints in our nonlinear-optimization calculus results in equilibrium conditions, where generalized shadow prices destroy the equality of output elasticities and cost shares. Consequently, at the prices of capital, labor, and energy we have known so far, industrial economies have evolved far from the neoclassical equilibrium. This is illustrated by the example of the German industrial sector evolving on the mountain of factor costs before and during the first and the second oil price explosion. It indicates the influence of the ‘virtually binding’ technological constraints on entrepreneurial decisions, and the existence of ‘soft constraints’ as well. Implications for employment and future economic growth are discussed.

Interpretation of transport barriers and of subneoclassical transport in the framework of the revisited neoclassical theory

International Nuclear Information System (INIS)

Rogister, A.L.

1999-01-01

'Subneoclassical' heat fluxes are predicted in the high collisionality regime by the revisited neoclassical theory, which includes the roles of Finite Larmor Radius effects and Inertia, that we published earlier. Unlike conventional neoclassical theory, the revisited theory further provides a non degenerate ambipolarity constraint which defines unambiguously the radial electric field. Together with the parallel momentum equation, the ambipolarity constraint leads, under some conditions, to radial electric field profiles with high negative shear akin to those observed in spontaneous edge transport barriers. The predictions of the theory are outlined, with emphasis laid on the interpretation of experimental results such as magnitude of the jumps, width of the shear layer, local scaling laws. Extension of the theory to triggered transitions and cold pulse propagation studies is suggested. (author)

La teoria neoclassica della crescita e della distribuzione (Neoclassical Theory of growth and Income Distribution

Directory of Open Access Journals (Sweden)

Robert M. Solow

2000-05-01

Full Text Available The paper surveys the neoclassical theory of growth. As a preliminary, the meaning of the adjective "neoclassical" is discussed. The basic model is then sketched, and the conditions ensuring a stationary state are illustrated. The issue of the convergence to a stationary state (and that of the speed of convergence is further considered. A discussion of "primary factors" opens the way to the "new" theory of growth, with endogenous technical progress. A number of extensions of the basic model are then recalled: two-sector and multi-sectoral models, overlapping generations models, the role of money in growth models.

Critica della teoria neoclassica della crescita e della distribuzione (A Critique of the Neoclassical Theory of Growth and Income Distribution

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Luigi Pasinetti

2012-10-01

Full Text Available The paper surveys the main theories of income distribution in their relationship with the theories of economic growth. First, the Classical approach is considered, focusing on the Ricardian theory. Then the neoclassical theory is discussed, highlighting its origins (Bohm-Bawerk, Wicksell, Clark and the role of the aggregate production function. The emergence of a "Keynesian" theory of income distribution in the wake of Harrod's model of growth is then recalled together with the surprising resurgence of the neoclassical theory (following the contributions of Solow and Meade. But, as the paper shows, the neoclassical theory of income distribution lacks logical consistency and has shaky foundations, as has been revealed by the severe critiques moved to the neoclassical production function. Mainstream economic literature circumvents this problem by simply ignoring it; while the models of endogenous growth exclude the issue of distribution theory from their consideration. However, while mainstream economics bypasses the problems of income distribution, this is too relevant an issue to be ignored and a number of new research lines, briefly surveyed, try new approaches to it.          JEL Codes: O41, E25Keywords: Distribution, Economic Growth, Growth, Income Distribution, Income

A dual theory of price and value in a meso-scale economic model with stochastic profit rate

Science.gov (United States)

Greenblatt, R. E.

2014-12-01

The problem of commodity price determination in a market-based, capitalist economy has a long and contentious history. Neoclassical microeconomic theories are based typically on marginal utility assumptions, while classical macroeconomic theories tend to be value-based. In the current work, I study a simplified meso-scale model of a commodity capitalist economy. The production/exchange model is represented by a network whose nodes are firms, workers, capitalists, and markets, and whose directed edges represent physical or monetary flows. A pair of multivariate linear equations with stochastic input parameters represent physical (supply/demand) and monetary (income/expense) balance. The input parameters yield a non-degenerate profit rate distribution across firms. Labor time and price are found to be eigenvector solutions to the respective balance equations. A simple relation is derived relating the expected value of commodity price to commodity labor content. Results of Monte Carlo simulations are consistent with the stochastic price/labor content relation.

Theories of the price and quantity of physician services. A synthesis and critique.

Science.gov (United States)

Farley, P J

1986-12-01

In the traditional neoclassical model of supply and demand, prices determine the allocation of economic resources. The difficulty in applying this model to physician services is the rationing of resources directly by physicians themselves, eliminating the allocative function of prices. Welfare consequences are appropriately judged in terms of efficiency and equity, not departures from the structural relationships implied by supply and demand. As interpreted here, both competitive theories and target-income theories of this market imply that physicians consider both their own welfare and the welfare of their patients in their decision-making. All consumer benefits and all producer costs are internalized by physicians. They consequently have an incentive to obtain the maximum possible social benefit from the resources at their disposal, to the extent that they are (implicitly) allowed to share in the resulting social gains. The distribution of gains between patients and physicians is determined by professional ethics within bounds imposed by competitive forces.

Theory of liquid crystal elastomers and polymer networks : Connection between neoclassical theory and differential geometry.

Science.gov (United States)

Nguyen, Thanh-Son; Selinger, Jonathan V

2017-09-01

In liquid crystal elastomers and polymer networks, the orientational order of liquid crystals is coupled with elastic distortions of crosslinked polymers. Previous theoretical research has described these materials through two different approaches: a neoclassical theory based on the liquid crystal director and the deformation gradient tensor, and a geometric elasticity theory based on the difference between the actual metric tensor and a reference metric. Here, we connect those two approaches using a formalism based on differential geometry. Through this connection, we determine how both the director and the geometry respond to a change of temperature.

Nonlinear neoclassical transport in toroidal edge plasmas

International Nuclear Information System (INIS)

Fueloep, T.; Helander, P.

2001-01-01

In conventional neoclassical theory, the density and temperature gradients are not allowed to be as steep as frequently observed in the tokamak edge. In this paper the theory of neoclassical transport in a collisional, impure plasma is extended to allow for steeper profiles than normally assumed. The dynamics of highly charged impurity ions then becomes nonlinear, which affects the transport of all species. As earlier found in the banana regime, when the bulk plasma gradients are large the impurity ions undergo a poloidal redistribution, which reduces their parallel friction with the bulk ions and suppresses the neoclassical ion particle flux. The neoclassical confinement is thus improved in regions with large radial gradients. When the plasma is collisional and the gradients are large, the impurities accumulate on the inboard side of the torus

La teoria neoclassica della crescita e della distribuzione (Neoclassical Theory of growth and Income Distribution

Directory of Open Access Journals (Sweden)

Robert M. Solow

2012-10-01

Full Text Available The paper surveys the neoclassical theory of growth. As a preliminary, the meaning of the adjective "neoclassical" is discussed. The basic model is then sketched, and the conditions ensuring a stationary state are illustrated. The issue of the convergence to a stationary state (and that of the speed of convergence is further considered. A discussion of "primary factors" opens the way to the "new" theory of growth, with endogenous technical progress. A number of extensions of the basic model are then recalled: two-sector and multi-sectoral models, overlapping generations models, the role of money in growth models.       JEL Codes: O41, E25Keywords: Distribution, Growth, Income Distribution, Income

Analysis of radial electric field bifurcation in LHD based on neoclassical transport theory

International Nuclear Information System (INIS)

Yokoyama, Masayuki; Ida, Katsumi; Shimozuma, Takashi

2003-01-01

Radial electric field (E r ) properties in LHD have been investigated based on the neoclassical transport theory and have also applied to LHD experimental results. The effects of the helicity of the magnetic configuration on the condition required to realize the electron root are examined. The larger helicity makes the threshold temperature lower for the same electron density. A higher threshold temperature is anticipated to be required in the plasma core region based on this fact and also due to the larger density there. This high electron temperature (T e ) has been successfully obtained with a center-focused ECH. There is a threshold for the ECH power to achieve a steep gradient of T e , and it seems to be qualitatively consistent with the transition of E r , at least in the sense that the abrupt increase of T e occurs after entering the anticipated electron root regime. These experimental results, consistent with those of analysis of the neoclassical ambipolar E r , indicate that the transition phenomena of E r in LHD are predominantly governed by neoclassical features. (author)

Comparison of Poloidal Velocity Meassurements to Neoclassical Theory on the National Spherical Torus Experiment

International Nuclear Information System (INIS)

Bell, R.E.; Andre, R.; Kaye, S.M.; Kolesnikov, R.A.; LeBlance, B.P.; Rewolldt, G.; Wang, W.X.; Sabbagh, S.A.

2010-01-01

Knowledge of poloidal velocity is necessary for the determination of the radial electric field, Er, which along with its gradient is linked to turbulence suppression and transport barrier formation. Recent measurements of poloidal flow on conventional tokamaks have been reported to be an order of magnitude larger than expected from neoclassical theory. In contrast, recent poloidal velocity measurements on the NSTX spherical torus (S. M. Kaye et al., Phys. Plasmas 8, 1977 (2001)) are near or below neoclassical estimates. A novel charge exchange recombination spectroscopy diagnostic is used, which features active and passive sets of up/down symmetric views to produce line-integrated poloidal velocity measurements that do not need atomic physics corrections. Local profiles are obtained with an inversion. Poloidal velocity measurements are compared with neoclassical values computed with the codes NCLASS (W. A. Houlberg et al., Phys. Plasmas 4, 3230 (1997)) and GTC-Neo (W. X. Wang, et al., Phys. Plasmas 13, 082501 (2006)), which has been updated to handle impurities.

Anthropic Reasoning about Fine-Tuning, and Neoclassical Cosmology: Providence, Omnipresence, and Observation Selection Theory

Science.gov (United States)

Walker, Theodore, Jr.

2011-10-01

Anthropic reasoning about observation selection effects upon the appearance of cosmic providential fine-tuning (fine-tuning that provides for life) is often motivated by a desire to avoid theological implications (implications favoring the idea of a divine cosmic provider) without appealing to sheer lucky-for-us-cosmic-jackpot happenstance and coincidence. Cosmic coincidence can be rendered less incredible by appealing to a multiverse context. Cosmic providence can be rendered non-theological by appealing to an agent-less providential purpose, or by appealing to less-than-omnipresent/local providers, such as alien intelligences creating life- providing baby universes. Instead of choosing either cosmic coincidence or cosmic providence, as though they were mutually exclusive; it is better to accept both. Neoclassical thought accepts coincidence and providence, plus many local providers and one omnipresent provider. Moreover, fundamental observation selection theory should distinguish the many local observers of some events from the one omnipresent observer of all events. Accepting both coincidence and providence avoids classical theology (providence without coincidence) and classical atheism (coincidence without providence), but not neoclassical theology (providence with coincidence). Cosmology cannot avoid the idea of an all-inclusive omnipresent providential dice-throwing living-creative whole of reality, an idea essential to neoclassical theology, and to neoclassical cosmology.

On the relation between neoclassical transport and turbulent transport

International Nuclear Information System (INIS)

Shaing, K.C.

2005-01-01

It is demonstrated through the flux-force relationship in the neoclassical theory that when neoclassical transport fluxes are improved, the damping rate of the radial electric field of the zonal flow is reduced. This, in turn, leads to improved turbulent transport fluxes. Thus, two seemingly unrelated transport fluxes are intimately connected through the momentum equation, and the neoclassical flux-force relation. This also implies a method to improve turbulent transport by improving neoclassical fluxes

Neoclassical kinetic theory near an X point: Plateau regime

International Nuclear Information System (INIS)

Solano, E.R.; Hazeltine, R.D.

1994-01-01

Traditionally, neoclassical transport calculations ignore poloidal variation of the poloidal magnetic field. Near an X point of the confining field of a diverted plasma, the poloidal field is small, causing guiding centers to linger at that poloidal position. A study of how neoclassical transport is affected by this differential shaping is presented. The problem is solved in general in the plateau regime, and a model poloidal flux function with an X point is utilized as an analytic example to show that the plateau diffusion coefficient can change considerably (factor of 2 reduction). Ion poloidal rotation is proportional to the local value of B pol but otherwise it is not strongly affected by shaping. The usual favorable scaling of neoclassical confinement time with plasma current is unaffected by the X point

Neoclassical MHD descriptions of tokamak plasmas

International Nuclear Information System (INIS)

Callen, J.D.; Kim, Y.B.; Sundaram, A.K.

1988-01-01

Considerable progress has been made in extending neoclassical MHD theory and in exploring the linear instabilities, nonlinear behavior and turbulence models it implies for tokamak plasmas. The areas highlighted in this paper include: extension of the neoclassical MHD equations to include temperature-gradient and heat flow effects; the free energy and entropy evolution implied by this more complete description; a proper ballooning mode formalism analysis of the linear instabilities; a new rippling mode type instability; numerical simulation of the linear instabilities which exhibit a smooth transition from resistive ballooning modes at high collisionality to neoclassical MHD modes at low collisionality; numerical simulation of the nonlinear growth of a single helicity tearing mode; and a Direct-Interaction-Approximation model of neoclassical MHD turbulence and the anomalous transport it induces which substantially improves upon previous mixing length model estimates. 34 refs., 2 figs

Revisited neoclassical transport theory for steep, collisional plasma edge profiles

International Nuclear Information System (INIS)

Rogister, A.L.

1994-01-01

Published neoclassical results are misleading as concerns the plasma edge for they do not adequately take the peculiar local conditions into account, in particular the fact that the density and temperature variation length-scales are quite small. Coupled novel neoclassical equations obtain, not only for the evolution of the density and temperatures, but also for the radial electric field and the evolution of the parallel ion momentum: gyro-stresses and inertia indeed upset the otherwise de facto ambipolarity of particle transport and a radial electric field necessarily builds up. The increased nonlinear character of these revisited neoclassical equations widens the realm of possible plasma behaviors. (author)

Low Z impurity transport in tokamaks. [Neoclassical transport theory

Energy Technology Data Exchange (ETDEWEB)

Hawryluk, R.J.; Suckewer, S.; Hirshman, S.P.

1978-10-01

Low Z impurity transport in tokamaks was simulated with a one-dimensional impurity transport model including both neoclassical and anomalous transport. The neoclassical fluxes are due to collisions between the background plasma and impurity ions as well as collisions between the various ionization states. The evaluation of the neoclassical fluxes takes into account the different collisionality regimes of the background plasma and the impurity ions. A limiter scrapeoff model is used to define the boundary conditions for the impurity ions in the plasma periphery. In order to account for the spectroscopic measurements of power radiated by the lower ionization states, fluxes due to anomalous transport are included. The sensitivity of the results to uncertainties in rate coefficients and plasma parameters in the periphery are investigated. The implications of the transport model for spectroscopic evaluation of impurity concentrations, impurity fluxes, and radiated power from line emission measurements are discussed.

Gyrokinetic simulations of neoclassical transport using a minimal collision operator

International Nuclear Information System (INIS)

Dif-Pradalier, G.; Grandgirard, V.; Sarazin, Y.; Garbet, X.; Ghendrih, Ph.; Angelino, P.

2008-01-01

Conventional neoclassical predictions are successfully recovered within a gyrokinetic framework using a minimal Fokker-Planck collision operator. This operator is shown to accurately describe some essential features of neoclassical theory, namely the neoclassical transport, the poloidal rotation and the linear damping of axisymmetric flows while interestingly preserving a high numerical efficiency. Its form makes it especially adapted to Eulerian or Semi-Lagrangian schemes.

Theory for neoclassical toroidal plasma viscosity in tokamaks

International Nuclear Information System (INIS)

Shaing, K C; Chu, M S; Hsu, C T; Sabbagh, S A; Seol, Jae Chun; Sun, Y

2012-01-01

Error fields and magnetohydrodynamic modes break toroidal symmetry in tokamaks. The broken symmetry enhances the toroidal plasma viscosity, which results in a steady-state toroidal plasma flow. A theory for neoclassical toroidal plasma viscosity in the low-collisionality regimes is developed. It extends stellarator transport theory to include multiple modes and to allow for |m − nq| ∼ 1. Here, m is the poloidal mode number, n is the toroidal mode number and q is the safety factor. The bounce averaged drift kinetic equation is solved in several asymptotic limits to obtain transport fluxes. These fluxes depend non-linearly on the radial electric field except for those in the 1/ν regime. Here, ν is the collision frequency. The theory is refined to include the effects of the superbanana plateau resonance at the phase space boundary and the finite ∇B drift on the collisional boundary layer fluxes. Analytical expressions that connect all asymptotic limits are constructed and are in good agreement with the numerical results. The flux–force relations that relate transport fluxes to forces are used to illustrate the roles of transport fluxes in the momentum equation. It is shown that the ambipolar state is reached when the momentum equation is relaxed. It is also shown that the origin of the momentum for plasma flow generated without momentum sources is the local unbalance of particles' momenta and is diamagnetic in nature regardless of the details of the theory. (paper)

Neo-classical impurity transport

International Nuclear Information System (INIS)

Stringer, T.E.

The neo-classical theory for impurity transport in a toroidal plasma is outlined, and the results discussed. A general account is given of the impurity behaviour and its dependence on collisionality. The underlying physics is described with special attention to the role of the poloidal rotation

Neoclassical current and plasma rotation in helical systems

International Nuclear Information System (INIS)

Nakajima, N.; Okamoto, M.

1991-01-01

In order to clarify geometrical effects of the magnetic field on the neoclassical theory in general toroidal systems, the neoclassical parallel particle flow, heat flux, current and plasma rotation of a multispecies plasma are examined using the moment approach on the basis of the original papers under the assumptions of no fluctuations, no external sources and losses except for a fast ion beam and an external inductive electric field, steady state, and |u a | Ta where u a and v Ta are the macro and thermal velocity of species a, respectively. Hence, we might have a point of view of unifying understanding the neoclassical theory in general toroidal systems. Three collisionality regimes, i.e., the 1/ν (in non-axisymmetric toroidal systems) or banana (in axisymmetric toroidal systems), plateau, and Pfirsch-Schlueter collisionality regimes are examined separately. (author) 8 refs

Comparison of experimentally-inferred ion thermal diffusivities with neoclassical theory for neutral beam-heated discharges in the Doublet III tokamak

International Nuclear Information System (INIS)

Groebner, R.J.

1986-04-01

The study of ion transport in neutral beam-heated discharges in tokamaks is necessary to determine if neoclassical theory can reliably be used to predict the performance of future machines. Previous studies of ion tranport have generally been difficult due to the lack of information regarding the ion temperature profile. The standard procedure used to study ion transport has been to model the T/sub i/ profile with the assumption that the ion thermal diffusivity profile chi/sub i/(r) was equal to a multiplier times chi/sub i//sup neo/(r), the ion thermal diffusivity calculated from neoclassical theory. The multiplier was varied until the calculated T/sub i/ profile agreed with the available ion temperature data, usually T/sub i/(0) or the measured neutron rate. Values of the multiplier in the range of 1 to 10 have generally been obtained with few estimates of the uncertainties in these values. Furthermore, there have been few, if any, attempts to calculate chi/sub i/ by modeling the ion temperature profiles in other ways. As a result, the issue as to whether or not the ion transport in tokamaks is in agreement with neoclassical theory has not been definitively answered

Non-equilibrium price theories

Science.gov (United States)

Helbing, Dirk; Kern, Daniel

2000-11-01

We propose two theories for the formation of stock prices under the condition that the number of available stocks is fixed. Both theories consider the balance equations for cash and several kinds of stocks. They also take into account interest rates, dividends, and transaction costs. The proposed theories have the advantage that they do not require iterative procedures to determine the price, which would be inefficient for simulations with many agents.

Electromagnetic and quantum measurements a bitemporal neoclassical theory

CERN Document Server

Wessel-Berg, Tore

2001-01-01

It is a pleasure to write a foreword for Professor Tore Wessel-Berg's book, "Electromagnetic and Quantum Measurements: A Bitemporal Neoclassical Theory." This book appeals to me for several reasons. The most important is that, in this book, Wessel-Berg breaks from the pack. The distinguished astrophysicist Thomas Gold has written about the pressures on scientists to move in tight formation, to avoid having their legs nipped by the sheepdogs of science. This book demonstrates that Wessel-Berg is willing to take that risk. I confess that I do not sufficiently understand this book to be able to either agree or disagree with its thesis. Nevertheless, Wessel-Berg makes very cogent arguments for setting out on his journey. The basic equations of physics are indeed time-reversible. Our experience, that leads us to the concept of an "arrow of time," is derived from macro­ scopic phenomena, not from fundamental microscopic phenomena. For this reason, it makes very good sense to explore the consequences of treating mi...

Comparison of parallel viscosity with neoclassical theory

International Nuclear Information System (INIS)

Ida, K.; Nakajima, N.

1996-04-01

Toroidal rotation profiles are measured with charge exchange spectroscopy for the plasma heated with tangential NBI in CHS heliotron/torsatron device to estimate parallel viscosity. The parallel viscosity derived from the toroidal rotation velocity shows good agreement with the neoclassical parallel viscosity plus the perpendicular viscosity. (μ perpendicular = 2 m 2 /s). (author)

Nonlinear dynamics of single-helicity neoclassical MHD tearing instabilities

International Nuclear Information System (INIS)

Spong, D.A.; Shaing, K.C.; Carreras, B.A.; Callen, J.D.; Garcia, L.

1988-10-01

Neoclassical magnetohydrodynamic (MHD) effects can significantly alter the nonlinear evolution of resistive tearing instabilities. This is studied numerically by using a flux-surface-averaged set of evolution equations that includes the lowest-order neoclassical MHD effects. The new terms in the equations are fluctuating bootstrap current, neoclassical modification of the resistivity, and neoclassical damping of the vorticity. Single-helicity tearing modes are studied in a cylindrical model over a range of neoclassical viscosities (μ/sub e//ν/sup e/) and values of the Δ' parameter of tearing mode theory. Increasing the neoclassical viscosity leads to increased growth rate and saturated island width as predicted analytically. The larger island width is caused by the fluctuating bootstrap current contribution in Ohm's law. The Δ' parameter no longer solely determines the island width, and finite-width saturated islands may be obtained even when Δ' is negative. The importance of the bootstrap current (/approximately/∂/rho///partial derivative/psi/) in the nonlinear dynamics leads us to examine the sensitivity of the results with respect to different models for the density evolution. 11 refs., 8 figs

Theory of neoclassical resistivity-gradient-driven turbulence

International Nuclear Information System (INIS)

Kwon, O.J.; Diamond, P.H.; Hahm, T.S.

1988-12-01

It is shown that rippling instabilities can tap the density gradient expansion free energy source through the density dependence of the neoclassical resistivity. Linear analyses show that the region where neoclassical rippling modes are significantly excited extends from the edge of the plasma to the region where ν/sub *e/ ≤ 1. Since these modes are non-dispersive, diamagnetic effects are negligible in comparison to the nonlinear decorrelation rate at saturation. Thus, the relevant regime is the 'strong turbulence' regime. The turbulent radial diffusivities of the temperature and the density are obtained as eigenvalues of the renormalized eigenmode equations at steady state. The density gradient acts to enhance the level of turbulence, compared to that driven by the temperature gradient alone. The saturated turbulent state is characterized by: current decoupling, the breakdown of Boltzmann relation, a radial mode scale of density fluctuations exceeding that of temperature fluctuations, implying that density diffusivity exceeds temperature diffusivity, and that density fluctuation levels exceed temperature fluctuation levels. Magnetic fluctuation levels are negligible. 29 refs., 1 fig

Denting the Hub, or Strengthening the Spokes? A Neoclassical Realism Analysis of New Security Trends in the Pacific

Science.gov (United States)

2009-06-01

Existing models of Neoclassical Realism, however, leave analysts to choose intervening traits in an ad hoc manner. This limits the theorys usefulness... Neoclassical Realism and the generalized intervening variable model developed in this thesis show usefulness beyond existing single- or multi-level theories ...weaknesses. Then, it proposes Neoclassical Realism, a modification of Realism, as an international relations theory that provides a useful model for foreign

Theory comparison and numerical benchmarking on neoclassical toroidal viscosity torque

Energy Technology Data Exchange (ETDEWEB)

Wang, Zhirui; Park, Jong-Kyu; Logan, Nikolas; Kim, Kimin; Menard, Jonathan E. [Princeton Plasma Physics Laboratory, Princeton, New Jersey 08543 (United States); Liu, Yueqiang [Euratom/CCFE Association, Culham Science Centre, Abingdon OX14 3DB (United Kingdom)

2014-04-15

Systematic comparison and numerical benchmarking have been successfully carried out among three different approaches of neoclassical toroidal viscosity (NTV) theory and the corresponding codes: IPEC-PENT is developed based on the combined NTV theory but without geometric simplifications [Park et al., Phys. Rev. Lett. 102, 065002 (2009)]; MARS-Q includes smoothly connected NTV formula [Shaing et al., Nucl. Fusion 50, 025022 (2010)] based on Shaing's analytic formulation in various collisionality regimes; MARS-K, originally computing the drift kinetic energy, is upgraded to compute the NTV torque based on the equivalence between drift kinetic energy and NTV torque [J.-K. Park, Phys. Plasma 18, 110702 (2011)]. The derivation and numerical results both indicate that the imaginary part of drift kinetic energy computed by MARS-K is equivalent to the NTV torque in IPEC-PENT. In the benchmark of precession resonance between MARS-Q and MARS-K/IPEC-PENT, the agreement and correlation between the connected NTV formula and the combined NTV theory in different collisionality regimes are shown for the first time. Additionally, both IPEC-PENT and MARS-K indicate the importance of the bounce harmonic resonance which can greatly enhance the NTV torque when E×B drift frequency reaches the bounce resonance condition.

Testing neoclassical and turbulent effects on poloidal rotation in the core of DIII-D

Energy Technology Data Exchange (ETDEWEB)

Chrystal, C. [University of California San Diego, 9500 Gilman Dr., La Jolla, California 92093-0417 (United States); Burrell, K. H.; Staebler, G. M.; Kinsey, J. E.; Lao, L. L.; Grassie, J. S. de [General Atomics, P.O. Box 85608, San Diego, California 92186-5608 (United States); Grierson, B. A.; Solomon, W. M.; Wang, W. X. [Princeton Plasma Physics Laboratory, P.O. Box 451, Princeton, New Jersey 08543-0451 (United States); Rhodes, T. L.; Schmitz, L. [University of California Los Angeles, P.O. Box 957099, Los Angeles, California 90095-7099 (United States); Mordijck, S. [College of William and Mary, P.O. Box 8795, Williamsburg, Virginia 23187-8795 (United States); Meneghini, O. [Oak Ridge Associated Universities, 1299 Bethel Valley Rd, Bldg SC-200, Oak Ridge, Tennessee 37830 (United States)

2014-07-15

Experimental tests of ion poloidal rotation theories have been performed on DIII-D using a novel impurity poloidal rotation diagnostic. These tests show significant disagreements with theoretical predictions in various conditions, including L-mode plasmas with internal transport barriers (ITB), H-mode plasmas, and QH-mode plasmas. The theories tested include standard neoclassical theory, turbulence driven Reynolds stress, and fast-ion friction on the thermal ions. Poloidal rotation is observed to spin up at the formation of an ITB and makes a significant contribution to the measurement of the E{sup →}×B{sup →} shear that forms the ITB. In ITB cases, neoclassical theory agrees quantitatively with the experimental measurements only in the steep gradient region. Significant quantitative disagreement with neoclassical predictions is seen in the cores of ITB, QH-, and H-mode plasmas, demonstrating that neoclassical theory is an incomplete description of poloidal rotation. The addition of turbulence driven Reynolds stress does not remedy this disagreement; linear stability calculations and Doppler backscattering measurements show that disagreement increases as turbulence levels decline. Furthermore, the effect of fast-ion friction, by itself, does not lead to improved agreement; in QH-mode plasmas, neoclassical predictions are closest to experimental results in plasmas with the largest fast ion friction. Predictions from a new model that combines all three effects show somewhat better agreement in the H-mode case, but discrepancies well outside the experimental error bars remain.

Testing neoclassical and turbulent effects on poloidal rotation in the core of DIII-D

International Nuclear Information System (INIS)

Chrystal, C.; Burrell, K. H.; Staebler, G. M.; Kinsey, J. E.; Lao, L. L.; Grassie, J. S. de; Grierson, B. A.; Solomon, W. M.; Wang, W. X.; Rhodes, T. L.; Schmitz, L.; Mordijck, S.; Meneghini, O.

2014-01-01

Experimental tests of ion poloidal rotation theories have been performed on DIII-D using a novel impurity poloidal rotation diagnostic. These tests show significant disagreements with theoretical predictions in various conditions, including L-mode plasmas with internal transport barriers (ITB), H-mode plasmas, and QH-mode plasmas. The theories tested include standard neoclassical theory, turbulence driven Reynolds stress, and fast-ion friction on the thermal ions. Poloidal rotation is observed to spin up at the formation of an ITB and makes a significant contribution to the measurement of the E → ×B → shear that forms the ITB. In ITB cases, neoclassical theory agrees quantitatively with the experimental measurements only in the steep gradient region. Significant quantitative disagreement with neoclassical predictions is seen in the cores of ITB, QH-, and H-mode plasmas, demonstrating that neoclassical theory is an incomplete description of poloidal rotation. The addition of turbulence driven Reynolds stress does not remedy this disagreement; linear stability calculations and Doppler backscattering measurements show that disagreement increases as turbulence levels decline. Furthermore, the effect of fast-ion friction, by itself, does not lead to improved agreement; in QH-mode plasmas, neoclassical predictions are closest to experimental results in plasmas with the largest fast ion friction. Predictions from a new model that combines all three effects show somewhat better agreement in the H-mode case, but discrepancies well outside the experimental error bars remain

Neoclassical impurity transport in the presence of toroidal and poloidal rotation

International Nuclear Information System (INIS)

Feneberg, W.

1988-06-01

This paper presents an extended theory of neoclassical impurity transport, starting from the parameters of bulk plasma toroidal and poloidal rotation. Analytic expressions resulting from the influence of a compressible flow on the perpendicular momentum balance and on the neoclassical Braginskii parallel viscosity are derived. The predicted impurity transport is extensively compared with that in earlier papers. (orig.)

Linear analysis of neoclassical tearing mode based on the four-field reduced neoclassical MHD equation

International Nuclear Information System (INIS)

Furuya, Atsushi; Yagi, Masatoshi; Itoh, Sanae-I.

2003-01-01

The linear neoclassical tearing mode is investigated using the four-field reduced neoclassical MHD equations, in which the fluctuating ion parallel flow and ion neoclassical viscosity are taken into account. The dependences of the neoclassical tearing mode on collisionality, diamagnetic drift and q profile are investigated. These results are compared with the results from the conventional three-field model. It is shown that the linear neoclassical tearing mode is stabilized by the ion neoclassical viscosity in the banana regime even if Δ' > 0. (author)

Effects of electrostatic trapping on neoclassical transport in an impure plasma

International Nuclear Information System (INIS)

Hazeltine, R.D.; Ware, A.A.

1976-01-01

Contamination of a toroidally confined plasma by highly charged impurity ions can produce substantial variation of the electrostatic potential within a magnetic surface. The resulting electrostatic trapping and electrostatic drifts, of hydrogen ions and electrons, yields significant alterations in neoclassical transport theory. A transport theory which includes these effects is derived from the drift-kinetic equation, with an ordering scheme modeled on the parameters of recent tokamak experiments. The theory self-consistently predicts that electrostatic trapping should be fully comparable to magnetic trapping, and provides transport coefficients which, depending quadratically upon the temperature and pressure gradients, differ markedly from the standard neoclassical coefficients for a pure plasma

Stationary neoclassical profiles of plasma parameters in stellarators

International Nuclear Information System (INIS)

Danilkin, I.S.; Mineev, A.B.

1991-01-01

Peculiarities of neoclassical model of heat and particle transfer, occuring by calculations of plasma stationary profile parameters in stellarators are considered. The main peculiarity out of all consists in ineadequate compatibility with real physical conditions on the boundary, requiring application of supplementary 'anomalous' transfer or special (but technically possible) adjustment of particle and heat sources to achieve solution in form of 'correct' monotonically sloping profile. It is stated, that neoclassical theory does not provide for well-known ambiguity of solutions for ambipolar electrical field by search of monotonous stationary profiles supported by outside sources

Theory of neoclassical tearing modes and its application to ITER-FEAT

International Nuclear Information System (INIS)

Pustovitov, V.D.; Mikhailovskii, A.B.; Konovalov, S.V.; Zvonkov, A.V.; Kobayashi, N.; Mukhovatov, V.S.

2001-01-01

Neoclassical tearing modes (NTM) can be responsible for beta limitation in long-pulse ITER discharges. The excitation and growth of NTM are governed by the competing bootstrap current, polarization current and so-called Δ' effects. Also, the magnetic well and Electron Cyclotron Current Drive (ECCD) can stabilize the NTM. We study analytically and numerically all the effects with a particular emphasis on the polarization current in the analytical part of our study. We show that the polarization current description requires a generalized transport theory including the hyperviscosity, electron pressure gradient and, as well, the finite ion Larmor radius effects in the perpendicular current. The profile function nonstationarity must be taken into account for calculation of the island rotation frequency. Results of numerical simulation of NTM suppression by modulated ECCD in ITER are presented. (author)

Neoclassical Simulation of Tokamak Plasmas using Continuum Gyrokinetc Code TEMPEST

International Nuclear Information System (INIS)

Xu, X Q

2007-01-01

We present gyrokinetic neoclassical simulations of tokamak plasmas with self-consistent electric field for the first time using a fully nonlinear (full-f) continuum code TEMPEST in a circular geometry. A set of gyrokinetic equations are discretized on a five dimensional computational grid in phase space. The present implementation is a Method of Lines approach where the phase-space derivatives are discretized with finite differences and implicit backwards differencing formulas are used to advance the system in time. The fully nonlinear Boltzmann model is used for electrons. The neoclassical electric field is obtained by solving gyrokinetic Poisson equation with self-consistent poloidal variation. With our 4D (ψ, θ, ε, μ) version of the TEMPEST code we compute radial particle and heat flux, the Geodesic-Acoustic Mode (GAM), and the development of neoclassical electric field, which we compare with neoclassical theory with a Lorentz collision model. The present work provides a numerical scheme and a new capability for self-consistently studying important aspects of neoclassical transport and rotations in toroidal magnetic fusion devices

First observation of neoclassical tearing modes in the HL-2A tokamak

International Nuclear Information System (INIS)

Ji Xiaoquan; Yang Qingwei; Liu Yi; Zhou Jun; Feng Beibin; Yuan Baoshan

2010-01-01

The m/n=2/1 neoclassical tearing modes are first observed in HL-2A low density, low beta plasma with central electron cyclotron resonance heating. The neoclassical tearing modes (NTMs) are triggered by a sawtooth crash with m/n=1/1 precursors, which are toroidal coupled with a small scale m/n=2/1 mode. The time history of the island width is compared with the prediction of the NTM theory, showing a good agreement between theory and experiment. (authors)

Can Neoclassical Economics Underpin the Reform of Centrally Planned Economies?

OpenAIRE

Peter Murrell

1991-01-01

This paper addresses whether neoclassical economics can provide the intellectual underpinning for a theory of reform. I examine whether the neoclassical model satisfies an essential condition to qualify for this role: does it give us a satisfactory explanation for the vast differences in performance between capitalist and socialist economic systems? First, I focus on the theoretical arguments that have traditionally been used to examine the comparative properties of central planning and marke...

Fiscal policy within a common currency area – growth implications in the light of neoclassical theory

Directory of Open Access Journals (Sweden)

Michał Konopczyński

2013-10-01

Full Text Available We examine the long-run impact of fiscal policy on economic growth under the conditions of an economic and monetary union (EMU. The analysis is based on the neoclassical growth model of a small (in economic terms open economy in an EMU. The core assumptions are perfect capital mobility, which results in identical interest rates across the EMU, and perfect mobility of goods, which leads to the convergence of price levels. The model is based on standard neoclassical assumptions, i.e., the output is determined by the Cobb-Douglas production function with a Harrod-neutral technical progress and constant returns to scale, capital and labor receive their marginal products, etc. We show that a unique long-run equilibrium exists and is characterized by the so-called natural rate of growth. The necessary and sufficient conditions of global asymptotic stability form a system of three non-trivial inequalities. We argue that in modern economies, these conditions are satisfied, except perhaps for very short periods of time. Furthermore, we show that the golden rules of fiscal policy have the form of an alternative optimal policy that crucially depends on the relation between the real interest rate and the natural rate of growth and on the relations between five other autonomous parameters.

Hedonic price theory: Concept and applications

International Nuclear Information System (INIS)

Metz, W.C.; Lowry, J.; Morey, M.

1990-01-01

Direct and indirect techniques are being used to estimate economic consequences of proximity to existing or proposed public facilities. The hedonic price theory, an indirect technique, is the most logically suited, especially for capturing the shadow or implicit price of a characteristic such as proximity in the real estate market. While the theory is increasingly being used, there is also a growing tendency to draw inferences from the study of one or more hazards and situations and transfer the conclusions to a very different hazard and situation. The use of the hedonic price theory and the issue of transferability to radioactive waste facilities are addressed in this paper. 12 refs

History versus Equilibrium Revisited: Rethinking Neoclassical Economics as the Foundation of Business Education

Science.gov (United States)

Clark, Charles Michael Andres

2014-01-01

The financial crisis was partially caused by neoclassical economic theory and theorists. This failure has prompted business educators to rethink the role of neoclassical economics as the foundation of business education. The author connects this question to the more general critique of the scientific model of business education and the old…

From current-driven to neoclassically driven tearing modes.

Science.gov (United States)

Reimerdes, H; Sauter, O; Goodman, T; Pochelon, A

2002-03-11

In the TCV tokamak, the m/n = 2/1 island is observed in low-density discharges with central electron-cyclotron current drive. The evolution of its width has two distinct growth phases, one of which can be linked to a "conventional" tearing mode driven unstable by the current profile and the other to a neoclassical tearing mode driven by a perturbation of the bootstrap current. The TCV results provide the first clear observation of such a destabilization mechanism and reconcile the theory of conventional and neoclassical tearing modes, which differ only in the dominant driving term.

Statistical field theory of futures commodity prices

Science.gov (United States)

Baaquie, Belal E.; Yu, Miao

2018-02-01

The statistical theory of commodity prices has been formulated by Baaquie (2013). Further empirical studies of single (Baaquie et al., 2015) and multiple commodity prices (Baaquie et al., 2016) have provided strong evidence in support the primary assumptions of the statistical formulation. In this paper, the model for spot prices (Baaquie, 2013) is extended to model futures commodity prices using a statistical field theory of futures commodity prices. The futures prices are modeled as a two dimensional statistical field and a nonlinear Lagrangian is postulated. Empirical studies provide clear evidence in support of the model, with many nontrivial features of the model finding unexpected support from market data.

Neoclassical current effects in neutral-beam-heated tokamak discharges

International Nuclear Information System (INIS)

Hogan, J.T.

1981-01-01

There is a long-standing prediction from neoclassical theory that strong contributions to the toroidal current should be driven by friction between trapped and passing particles when βsub(pol) exceeds root (R/a) in a tokamak. A number of neutral-beam heating experiments can now produce such parameters, and it is of interest to calculate the behaviour which should occur in this regime to determine the feasibility of using such a 'bootstrap' current as a steady-state tokamak current source. It is found that the neoclassical current should be large enough to reverse the external loop voltage for typical experimental parameters (ISX-B, in particular) in cases where the total current is fixed and to produce a detectable excess of total current above the pre-programmed (demand) value in cases where the loop voltage is regulated. Other manifestations of such a current should be either: a sharp rise in the central q-value (producing a cessation of internal m=1 and m=2 MHD activity), with an enhancement by two orders of magnitude of ion thermal conductivity (due to the formation of a hollow current density profile and a consequent drop in local values of the poloidal magnetic field in the central plasma region), or an enhanced tendency for disruption (arising from magnetic reconnection in hollow-profile equilibria). Since these gross manifestations are absent in a wide range of experiments on the Impurity Study Experiment (ISX-B), as reported earlier, the conclusion is that the neoclassical current, if present, can have a value no larger than 25% of its theoretically calculated value. Since the neoclassical particle (Ware) pinch is strongly related to the neoclassical current in the theory (Onsager reciprocity), the existence of the particle pinch is thus called into question. (author)

Neoclassical simulation of tokamak plasmas using the continuum gyrokinetic code TEMPEST.

Science.gov (United States)

Xu, X Q

2008-07-01

We present gyrokinetic neoclassical simulations of tokamak plasmas with a self-consistent electric field using a fully nonlinear (full- f ) continuum code TEMPEST in a circular geometry. A set of gyrokinetic equations are discretized on a five-dimensional computational grid in phase space. The present implementation is a method of lines approach where the phase-space derivatives are discretized with finite differences, and implicit backward differencing formulas are used to advance the system in time. The fully nonlinear Boltzmann model is used for electrons. The neoclassical electric field is obtained by solving the gyrokinetic Poisson equation with self-consistent poloidal variation. With a four-dimensional (psi,theta,micro) version of the TEMPEST code, we compute the radial particle and heat fluxes, the geodesic-acoustic mode, and the development of the neoclassical electric field, which we compare with neoclassical theory using a Lorentz collision model. The present work provides a numerical scheme for self-consistently studying important dynamical aspects of neoclassical transport and electric field in toroidal magnetic fusion devices.

Neoclassical transport in NCSX

International Nuclear Information System (INIS)

Mikkelsen, D.R.; Zarnstorff, M.C.; Beidler, C.D.; Maassberg, H.; Houlberg, W.A.; Spong, D.A.; Tribaldos, V.

2003-01-01

Methods for calculating neoclassical transport in the National Compact Stellarator Experiment (NCSX) are discussed, with particular attention to developing computationally inexpensive predictions of neoclassical transport. (orig.)

The New Keynesian Approach to Business Cycle Theory: Nominal and Real Rigidities

OpenAIRE

Monica Dobrescu

2012-01-01

At the heart of the Neoclassical synthesis lies the assumption that prices do not adjust instantly to equilibrate supply and demand. Under these circumstances, once the synthesis failed, economists naturally started to investigate whether the imperfect adjustment of prices could be logically inferred from realistic assumptions regarding the microeconomic environment, and subsequent research led to a variety of new non-walrasian theories regarding the functioning of markets. Thus, the non-walr...

Sawtooth-free Ohmic discharges in ASDEX and the aspects of neoclassical ion transport

International Nuclear Information System (INIS)

Stroth, U.; Fussmann, G.; Krieger, K.; Mertens, V.; Wagner, F.; Bessenrodt-Weberpals, M.; Buechse, R.; Giannone, L.; Herrmann, H.; Simmet, E.; Steuer, K.H.

1991-05-01

Sawtooth-free Ohmic discharges can serve as a model case for a quiescent Tokamak plasma. We report on the properties and the global parameters of these discharges observed in ASDEX and make comments on the mechanism which seems to be responsible for the stabilization of the sawtooth instability. Stationary Ohmic discharge were used to investigate particle, impurity and energy transport in the absence of the sawtooth instability. Particular emphasis has been devoted to a comparison with the predictions of neoclassical theories. We find that the ion energy transport is on the level predicted by neoclassical theory and can explain particle and impurity transport with neoclassical inward drift velocities and diffusion coefficients with the same small anomalous contribution. In the central region of the plasma, where the power flux is low, very small values were found for the electron heat conductivity. (orig.)

UNCERTAINTY IN NEOCLASSICAL AND KEYNESIAN THEORETICAL APPROACHES: A BEHAVIOURAL PERSPECTIVE

Directory of Open Access Journals (Sweden)

Sinziana BALTATESCU

2015-11-01

Full Text Available The ”mainstream” neoclassical assumptions about human economic behavior are currently challenged by both behavioural researches on human behaviour and other theoretical approaches which, in the context of the recent economic and financial crisis find arguments to reinforce their theoretical statements. The neoclassical “perfect rationality” assumption is most criticized and provokes the mainstream theoretical approach to efforts of revisiting the theoretical framework in order to re-state the economic models validity. Uncertainty seems, in this context, to be the concept that allows other theoretical approaches to take into consideration a more realistic individual from the psychological perspective. This paper is trying to present a comparison between the neoclassical and Keynesian approach of the uncertainty, considering the behavioural arguments and challenges addressed to the mainstream theory.

Effects of temperature anisotropy on neoclassical transport in the plateau and banana-plateau regimes

International Nuclear Information System (INIS)

Taguchi, Masayoshi

1999-01-01

The neoclassical transport theory in a presence of temperature anisotropy is investigated in the low to the intermediate collision frequency regimes for a large aspect-ratio tokamak plasma. The standard procedure for an isotropic plasma in the plateau regime is extended to an anisotropic plasma, and the neoclassical transport coefficients in this regime are explicitly calculated. By interpolating the results in the plateau regime and the previously obtained ones in the banana regime, the expressions for the neoclassical transport coefficients which are continuously valid from the banana to the plateau regimes are presented. (author)

Neoclassical viscous stress tensor for non-linear MHD simulations with XTOR-2F

International Nuclear Information System (INIS)

Mellet, N.; Maget, P.; Meshcheriakov, D.; Lütjens, H.

2013-01-01

The neoclassical viscous stress tensor is implemented in the non-linear MHD code XTOR-2F (Lütjens and Luciani 2010 J. Comput. Phys. 229 8130–43), allowing consistent bi-fluid simulations of MHD modes, including the metastable branch of neoclassical tearing modes (NTMs) (Carrera et al 1986 Phys. Fluids 29 899–902). Equilibrium flows and bootstrap current from the neoclassical theory are formally recovered in this Chew–Goldberger–Low formulation. The non-linear behaviour of the new model is verified on a test case coming from a Tore Supra non-inductive discharge. A NTM threshold that is larger than with the previous model is obtained. This is due to the fact that the velocity is now part of the bootstrap current and that it differs from the theoretical neoclassical value. (paper)

Validation of the kinetic-turbulent-neoclassical theory for edge intrinsic rotation in DIII-D

Science.gov (United States)

Ashourvan, Arash; Grierson, B. A.; Battaglia, D. J.; Haskey, S. R.; Stoltzfus-Dueck, T.

2018-05-01

In a recent kinetic model of edge main-ion (deuterium) toroidal velocity, intrinsic rotation results from neoclassical orbits in an inhomogeneous turbulent field [T. Stoltzfus-Dueck, Phys. Rev. Lett. 108, 065002 (2012)]. This model predicts a value for the toroidal velocity that is co-current for a typical inboard X-point plasma at the core-edge boundary (ρ ˜ 0.9). Using this model, the velocity prediction is tested on the DIII-D tokamak for a database of L-mode and H-mode plasmas with nominally low neutral beam torque, including both signs of plasma current. Values for the flux-surface-averaged main-ion rotation velocity in the database are obtained from the impurity carbon rotation by analytically calculating the main-ion—impurity neoclassical offset. The deuterium rotation obtained in this manner has been validated by direct main-ion measurements for a limited number of cases. Key theoretical parameters of ion temperature and turbulent scale length are varied across a wide range in an experimental database of discharges. Using a characteristic electron temperature scale length as a proxy for a turbulent scale length, the predicted main-ion rotation velocity has a general agreement with the experimental measurements for neutral beam injection (NBI) powers in the range PNBI balanced—but high powered—NBI, the net injected torque through the edge can exceed 1 Nm in the counter-current direction. The theory model has been extended to compute the rotation degradation from this counter-current NBI torque by solving a reduced momentum evolution equation for the edge and found the revised velocity prediction to be in agreement with experiment. Using the theory modeled—and now tested—velocity to predict the bulk plasma rotation opens up a path to more confidently projecting the confinement and stability in ITER.

Stationary neoclassical profiles of plasma parameters in stellarators

International Nuclear Information System (INIS)

Danilkin, I.S.; Mineev, A.B.

1991-01-01

The properties of the neoclassical model of heat and particle transport are considered in connection with calculations of stationary profiles of the plasma parameters in stellarators. The most important feature is the poor agreement with real physical conditions of the boundary, which imposes the necessity of invoking either an additional anomalous transport or a special (although technically possible) consistency between the particle and heat sources in order to obtain a solution in the form of a correct monotonically decreasing profile. In search for monotonic stationary profiles maintained by external sources, it is ascertained that the neoclassical theory does not give rise to the well-known multivalued solutions for the ambipolar electric field

Effects of Broken Symmetry in Tokamaks: Global Braking of Toroidal Rotation and Self-consistent Determination of Neoclassical Magnetic Islands Velocity

International Nuclear Information System (INIS)

Lazzaro, Enzo

2009-01-01

Established results of neoclassical kinetic theory are used in a fluid model to show that in low collisionality regimes (ν and 1/ν) the propagation velocity of Neoclassical Tearing Modes (NTM) magnetic islands of sufficient width is determined self-consistently by the Neoclassical Toroidal Viscosity (NTV) appearing because of broken symmetry. The NTV effect on bulk plasma rotation, may also explain recent observations on momentum transport. At the same time this affects the role of the neoclassical ion polarization current on neoclassical tearing modes (NTM) stability.

Finite-orbit-width effect and the radial electric field in neoclassical transport phenomena

International Nuclear Information System (INIS)

Satake, S.; Okamoto, M.; Nakajima, N.; Sugama, H.; Yokoyama, M.; Beidler, C.D.

2005-01-01

Modeling and detailed simulation of neoclassical transport phenomena both in 2D and 3D toroidal configurations are shown. The emphasis is put on the effect of finiteness of the drift-orbit width, which brings a non-local nature to neoclassical transport phenomena. Evolution of the self-consistent radial electric field in the framework of neoclassical transport is also investigated. The combination of Monte-Carlo calculation for ion transport and numerical solver of ripple-averaged kinetic equation for electrons makes it possible to calculate neoclassical fluxes and the time evolution of the radial electric field in the whole plasma region, including the finite-orbit-width (FOW) effects and global evolution of geodesic acoustic mode (GAM). The simulation results show that the heat conductivity around the magnetic axis is smaller than that obtained from standard neoclassical theory and that the evolution of GAM oscillation on each flux surface is coupled with other surfaces if the FOW effect is significant. A global simulation of radial electric field evolution in a non-axisymmetric plasma is also shown. (author)

Numerical Simulation of Neoclassical Currents, Parallel Viscosity, and Radial Current Balance in Tokamak Plasmas

International Nuclear Information System (INIS)

Kiviniemi, T.

2001-01-01

One of the principal problems en route to a fusion reactor is that of insufficient plasma confinement, which has lead to both theoretical and experimental research into transport processes in the parameter range relevant for fusion energy production. The neoclassical theory of tokamak transport is well-established unlike the theory of turbulence driven anomalous transport in which extensive progress has been made during last few years. So far, anomalous transport has been dominant in experiments, but transport may be reduced to the neoclassical level in advanced tokamak scenarios. This thesis reports a numerical study of neoclassical fluxes, parallel viscosity, and neoclassical radial current balance in tokamaks. Neoclassical parallel viscosity and particle fluxes are simulated over a wide range of collisionalities, using the fully kinetic five-dimensional neoclassical orbit-following Monte Carlo code ASCOT. The qualitative behavior of parallel viscosity derived in earlier analytic models is shown to be incorrect for high poloidal Mach numbers. This is because the poloidal dependence of density was neglected. However, in high Mach number regime, it is the convection and compression terms, rather than the parallel viscosity term, that are shown to dominate the momentum balance. For fluxes, a reasonable agreement between numerical and analytical results is found in the collisional parameter regime. Neoclassical particle fluxes are additionally studied in the banana regime using the three-dimensional Fokker-Planck code DEPORA, which solves the drift-kinetic equation with finite differencing. Limitations of the small inverse aspect ratio approximation adopted in the analytic theory are addressed. Assuming that the anomalous transport is ambipolar, the radial electric field and its shear at the tokamak plasma edge can be solved from the neoclassical radial current balance. This is performed both for JET and ASDEX Upgrade tokamaks using the ASCOT code. It is shown that

Regret Theory and Equilibrium Asset Prices

Directory of Open Access Journals (Sweden)

Jiliang Sheng

2014-01-01

Full Text Available Regret theory is a behavioral approach to decision making under uncertainty. In this paper we assume that there are two representative investors in a frictionless market, a representative active investor who selects his optimal portfolio based on regret theory and a representative passive investor who invests only in the benchmark portfolio. In a partial equilibrium setting, the objective of the representative active investor is modeled as minimization of the regret about final wealth relative to the benchmark portfolio. In equilibrium this optimal strategy gives rise to a behavioral asset priciting model. We show that the market beta and the benchmark beta that is related to the investor’s regret are the determinants of equilibrium asset prices. We also extend our model to a market with multibenchmark portfolios. Empirical tests using stock price data from Shanghai Stock Exchange show strong support to the asset pricing model based on regret theory.

GOLD AND LAND PRICES WITH CAPITAL ACCUMULATION IN AN ECONOMY WITH INDUSTRIAL AND AGRICULTURAL SECTORS

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ZHANG WEI-BIN

2016-04-01

Full Text Available The purpose of this study is to examine dynamic interactions among gold value, land price and economic structure in a growth model with capital accumulation. The paper proposes a two-sector general equilibrium model with land and gold prices as endogenous variables. The economy consists of industrial and agricultural sectors with fixed land and gold. Land is used for residential use and agricultural production and gold is used for saving and decorations. The portfolio equilibrium growth model is based on the neoclassical growth theory and Ricardian theory. We simulate the model to demonstrate that the economic system has a unique stable steady state. We show how exogenous changes in preference and technology affect the transitory processes and long-term equilibrium.

Neoclassical equilibrium in gyrokinetic simulations

International Nuclear Information System (INIS)

Garbet, X.; Dif-Pradalier, G.; Nguyen, C.; Sarazin, Y.; Grandgirard, V.; Ghendrih, Ph.

2009-01-01

This paper presents a set of model collision operators, which reproduce the neoclassical equilibrium and comply with the constraints of a full-f global gyrokinetic code. The assessment of these operators is based on an entropy variational principle, which allows one to perform a fast calculation of the neoclassical diffusivity and poloidal velocity. It is shown that the force balance equation is recovered at lowest order in the expansion parameter, the normalized gyroradius, hence allowing one to calculate correctly the radial electric field. Also, the conventional neoclassical transport and the poloidal velocity are reproduced in the plateau and banana regimes. The advantages and drawbacks of the various model operators are discussed in view of the requirements for neoclassical and turbulent transport.

Is neoclassical microeconomics formally valid? An approach based on an analogy with equilibrium thermodynamics

Energy Technology Data Exchange (ETDEWEB)

Sousa, Tania; Domingos, Tiago [Environment and Energy Section, DEM, Instituto Superior Tecnico, Avenida Rovisco Pais, 1, 1049-001 Lisboa (Portugal)

2006-06-10

The relation between Thermodynamics and Economics is a paramount issue in Ecological Economics. Two different levels can be distinguished when discussing it: formal and substantive. At the formal level, a mathematical framework is used to describe both thermodynamic and economic systems. At the substantive level, thermodynamic laws are applied to economic processes. In Ecological Economics, there is a widespread claim that neoclassical economics has the same mathematical formulation as classical mechanics and is therefore fundamentally flawed because: (1) utility does not obey a conservation law as energy does; (2) an equilibrium theory cannot be used to study irreversible processes. Here, we show that neoclassical economics is based on a wrong formulation of classical mechanics, being in fact formally analogous to equilibrium thermodynamics. The similarity between both formalisms, namely that they are both cases of constrained optimisation, is easily perceived when thermodynamics is looked upon using the Tisza-Callen axiomatisation. In this paper, we take the formal analogy between equilibrium thermodynamics and economic systems far enough to answer the formal criticisms, proving that the formalism of neoclassical economics has irreversibility embedded in it. However, the formal similarity between equilibrium thermodynamics and neoclassical microeconomics does not mean that economic models are in accordance with mass, energy and entropy balance equations. In fact, neoclassical theory suffers from flaws in the substantive integration with thermodynamic laws as has already been fully demonstrated by valuable work done by ecological economists in this field. (author)

Price Theory and Money Coupled: some Remarks on the Ayres-Martinás Theory

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Zsolt Gilanyi

2013-01-01

Full Text Available The main concern of economic science is to explain the Wealth of Nations. This tradition implies on the one hand, that wealth must be evaluated i.e.: economic science must elaborate a price theory; on the other hand, money should be integrated in economic theories because prices are expressed in monetary terms. Mainstream economic theory succeeds in price determination (with some limits but fails on money integration, while non-mainstream monetary models succeed on money integration but fail on price determination. In this paper I argue that the Ayres-Martinás theoretical framework is a promising tentative to cope with this challenge of economic science.

Neoclassical transport analysis for a class of high-β tokamak equilibria

International Nuclear Information System (INIS)

Rieser, H.; Werthmann, H.; Kuhn, S.

1995-01-01

Balescu's neoclassical transport theory is extended to the case of non-circular flux-surface geometries. Modified classical and neoclassical transport equations, governing particle and heat fluxes in the short- and long-mean-free-path regimes, are derived. These equations are shown to coincide to leading order with the corresponding equations given by Hirshman and Sigmar. They are then applied to an ideal MHD equilibrium, suitable as a simplified but analytically tractable model of a high-β tokamak. Numerical results for the radial profiles of the global (i.e. flux-surface integrated) particle and heat fluxes in the classical, Pfirsch-Schlueter and banana regimes are presented for geometry and plasma parameters realized in some tokamaks, like the divertor and injection tokamak experiment (DITE). This spatial representation provides direct insight into the overall collisional transport behaviour of a given equilibrium, whereas the anomalous transport problem is not addressed here. Our results demonstrate that for a given pressure profile the global neoclassical fluxes may depend very sensitively on the temperature profiles and that, in particular, the global classical and neoclassical ion heat fluxes exhibit a characteristic non-monotonic behaviour. (author)

A theory of planning horizons (1: market design in a post-neoclassical world

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Frederic B. Jennings, Jr.

2012-05-01

Full Text Available The neoclassical case supporting competitive frames and market solutions has failed to promote stable world-wide economic development. Other approaches in economics incorporate social culture, increasing returns, market power, ecological limits and complementarity, yielding broader applications for development theory. In this paper a theory of planning horizons is introduced to raise some meaningful questions about the traditional view with respect to its substitution, decreasing returns and independence assumptions. Suppositions of complementarity, increasing returns and interdependence suggest that competition is inefficient by upholding a myopic culture resistant to learning. Growth – though long believed to rise from markets and competitive values – may not derive from these sources. Instead, as civilizations advance, shifting from material wants to higher-order intangible output, they evolve from market tradeoffs (substitution and scarcity into realms of common need (complementarity and abundance. The policy implications of horizonal theory are explored, with respect to regulatory aims and economic concerns. Such an approach emphasizes strict constraints against entry barriers, ecological harm, market power abuse and ethical lapses. Social cohesion – not competition – is sought as a means to extend horizons and thereby increase efficiency, equity and ecological health. The overriding importance of horizon effects for regulatory assessment dominates other orthodox standards in economics and law. Reframing economics along horizonal lines suggests some meaningful insight on the proper design of economic systems.

Marketing Theory Applied to Price Discrimination in Journals.

Science.gov (United States)

Talaga, James; Haley, Jean Walstrom

1991-01-01

Discussion of discriminatory pricing by journal publishers and its effects on libraries focuses on six prerequisites for successful discriminatory pricing that are based on marketing theory. Strategies to eliminate some of these prerequisites--and therefore eliminate discriminatory pricing--are suggested, including the need to change the attitudes…

Neoclassical MHD equilibria with ohmic current

International Nuclear Information System (INIS)

Tokuda, Shinji; Takeda, Tatsuoki; Okamoto, Masao.

1989-01-01

MHD equilibria of tokamak plasmas with neoclassical current effects (neoclassical conductivity and bootstrap current) were calculated self-consistently. Neoclassical effects on JFT-2M tokamak plasmas, sustained by ohmic currents, were studied. Bootstrap currents flow little for L-mode type equilibria because of low attainable values of poloidal beta, β J . H-mode type equilibria give bootstrap currents of 30% ohmic currents for β J attained by JFT-2M and 100% for β J ≥ 1.5, both of which are sufficient to change the current profiles and the resultant MHD equilibria. Neoclassical conductivity which has roughly half value of the classical Spitzer conductivity brings peaked ohmic current profiles to yield low safety factor at the magnetic axis. Neoclassical conductivity reduces the value of effective Z(Z eff ) which is necessary to give the observed one-turn voltage but it needs impurities accumulating at the center when such peaked current profiles are not observed. (author)

Neoclassical transport in ERS regime

International Nuclear Information System (INIS)

Lin, Z.; Tang, W.; Lee, W.W.

1996-01-01

The core ion thermal conductivity has been observed to fall below the standard neoclassical level in recent TFTR reversed magnetic shear discharges. Due to the combination of high central q and small local inverse aspect ratio, the ion poloidal gyroradius can be larger than the minor radius and comparable to the pressure gradient scale length in this ERS regime. It is then expected that finite orbit width effects play a key role in modifying the standard picture of neoclassical transport. Specifically, both the trapped particle fraction and the banana orbit width axe reduced by the finite minor radius and possibly by the pressure-gradient-driven radial electric field. In addition, the steep pressure gradient can generate neoclassical poloidal flows which, in turn, could reduce the particle and heat transports. Results from analytic estimates as well as those from full toroidal gyrokinetic neoclassical simulations will be presented

Analysis of neoclassical edge plasma transport with gyroviscosity and inertia

International Nuclear Information System (INIS)

Rogister, A.; Antonov, N.

1996-01-01

It is shown that the ambipolarity constraint which results from neoclassical transport theory with gyroviscosity and inertia sets lower limits on the edge density and/or temperature and/or Z eff gradients. Toroidal momentum co, respectively counter, -injection reduces, respectively increases these lower bounds. Generally speaking, co, respectively counter, -injection increases, respectively reduces, the rotation velocities. The theory has so far been developed for the high collisionality regime only. (orig.)

The study on the neoclassical transport analysis using ECE measured temperature profiles in the LHD long pulse plasma

International Nuclear Information System (INIS)

Sasao, Hajime; Watanabe, Kiyomasa; Inagaki, Shigeru

2000-01-01

The purpose of this paper is to show the change of the neoclassical transport and the radial electric field in the long pulse LHD plasmas by using the experimental ECE data. The neoclassical heat flux, which the neo-classical theory predicts, changes due to the change of the radial electric field. The increase of H ions injected by Neutral Beam Injection (NBI) in He discharge produce effect on the electric field. There is the threshold of H quantity on the change of the electric field polarity. (author)

Application of catastrophe theory to a point model for bumpy torus with neoclassical non-resonant electrons

Energy Technology Data Exchange (ETDEWEB)

Punjabi, A; Vahala, G [College of William and Mary, Williamsburg, VA (USA). Dept. of Physics

1983-12-01

The point model for the toroidal core plasma in the ELMO Bumpy Torus (with neoclassical non-resonant electrons) is examined in the light of catastrophe theory. Even though the point model equations do not constitute a gradient dynamic system, the equilibrium surfaces are similar to those of the canonical cusp catastrophe. The point model is then extended to incorporate ion cyclotron resonance heating. A detailed parametric study of the equilibria is presented. Further, the nonlinear time evolution of these equilibria is studied, and it is observed that the point model obeys the delay convention (and hence hysteresis) and shows catastrophes at the fold edges of the equilibrium surfaces. Tentative applications are made to experimental results.

Study of neoclassical transport in LHD plasmas by applying the DCOM/NNW neoclassical transport database

International Nuclear Information System (INIS)

Wakasa, Arimitsu; Oikawa, Shun-ichi; Murakami, Sadayoshi

2008-01-01

In helical systems, neoclassical transport is one of the important issues in addition to anomalous transport, because of a strong temperature dependency of heat conductivity and an important role in the radial electric field determination. Therefore, the development of a reliable tool for the neoclassical transport analysis is necessary for the transport analysis in Large Helical Device (LHD). We have developed a neoclassical transport database for LHD plasmas, DCOM/NNW, where mono-energetic diffusion coefficients are evaluated by the Monte Carlo method, and the diffusion coefficient database is constructed by a neural network technique. The input parameters of the database are the collision frequency, radial electric field, minor radius, and configuration parameters (R axis , beta value, etc). In this paper, database construction including the plasma beta is investigated. A relatively large Shafranov shift occurs in the finite beta LHD plasma, and the magnetic field configuration becomes complex leading to rapid increase in the number of the Fourier modes in Boozer coordinates. DCOM/NNW can evaluate neoclassical transport accurately even in such a configuration with a large number of Fourier modes. The developed DCOM/NNW database is applied to a finite-beta LHD plasma, and the plasma parameter dependences of neoclassical transport coefficients and the ambipolar radial electric field are investigated. (author)

Benchmark test of drift-kinetic and gyrokinetic codes through neoclassical transport simulations

International Nuclear Information System (INIS)

Satake, S.; Sugama, H.; Watanabe, T.-H.; Idomura, Yasuhiro

2009-09-01

Two simulation codes that solve the drift-kinetic or gyrokinetic equation in toroidal plasmas are benchmarked by comparing the simulation results of neoclassical transport. The two codes are the drift-kinetic δf Monte Carlo code (FORTEC-3D) and the gyrokinetic full- f Vlasov code (GT5D), both of which solve radially-global, five-dimensional kinetic equation with including the linear Fokker-Planck collision operator. In a tokamak configuration, neoclassical radial heat flux and the force balance relation, which relates the parallel mean flow with radial electric field and temperature gradient, are compared between these two codes, and their results are also compared with the local neoclassical transport theory. It is found that the simulation results of the two codes coincide very well in a wide rage of plasma collisionality parameter ν * = 0.01 - 10 and also agree with the theoretical estimations. The time evolution of radial electric field and particle flux, and the radial profile of the geodesic acoustic mode frequency also coincide very well. These facts guarantee the capability of GT5D to simulate plasma turbulence transport with including proper neoclassical effects of collisional diffusion and equilibrium radial electric field. (author)

An empirical test of reference price theories using a semiparametric approach

DEFF Research Database (Denmark)

Boztug, Yasemin; Hildebrandt, Lutz

  In this paper we estimate and empirically test different behavioral theories of consumer reference price formation. Two major theories are proposed to model the reference price reaction: assimilation contrast theory and prospect theory. We assume that different consumer segments will use...

Kinetic simulations of neoclassical and anomalous transport processes in helical systems

International Nuclear Information System (INIS)

Sugama, Hideo; Watanabe, Tomohiko; Nunami, Masanori; Satake, Shinsuke; Matsuoka, Seikichi; Tanaka, Kenji

2012-01-01

Drift kinetic and gyrokinetic theories and simulations are powerful means for quantitative predictions of neoclassical and anomalous transport fluxes in helical systems such as the Large Helical Device (LHD). The δf Monte Carlo particle simulation code, FORTEC-3D, is used to predict radial profiles of the neoclassical particle and heat transport fluxes and the radial electric field in helical systems. The radial electric field profiles in the LHD plasmas are calculated from the ambipolarity condition for the neoclassical particle fluxes obtained by the global simulations using the FORTEC-3D code, in which effects of ion or electron finite orbit widths are included. Gyrokinetic Vlasov simulations using the GKV code verify the theoretical prediction that the neoclassical optimization of helical magnetic configuration enhances the zonal flow generation which leads to the reduction of the turbulent heat diffusivity χ i due to the ion temperature gradient (ITG) turbulence. Comparisons between results for the high ion temperature LHD experiment and the gyrokinetic simulations using the GKV-X code show that the χ i profile and the poloidal wave number spectrum of the density fluctuation obtained from the simulations are in reasonable agreements with the experimental results. It is predicted theoretically and confirmed by the linear GKV simulations that the E × B rotation due to the background radial electric field E r can enhance the zonal-flow response to a given source. Thus, in helical systems, the turbulent transport is linked to the neoclassical transport through E r which is determined from the ambipolar condition for neoclassical particle fluxes and influences the zonal flow generation leading to reduction of the turbulent transport. In order to investigate the E r effect on the regulation of the turbulent transport by the zonal flow generation, the flux-tube bundle model is proposed as a new method for multiscale gyrokinetic simulations. (author)

Turbulent momentum transport due to neoclassical flows

International Nuclear Information System (INIS)

Lee, Jungpyo; Barnes, Michael; Parra, Felix I; Belli, Emily; Candy, Jeff

2015-01-01

Intrinsic toroidal rotation in a tokamak can be driven by turbulent momentum transport due to neoclassical flow effects breaking a symmetry of turbulence. In this paper we categorize the contributions due to neoclassical effects to the turbulent momentum transport, and evaluate each contribution using gyrokinetic simulations. We find that the relative importance of each contribution changes with collisionality. For low collisionality, the dominant contributions come from neoclassical particle and parallel flows. For moderate collisionality, there are non-negligible contributions due to neoclassical poloidal electric field and poloidal gradients of density and temperature, which are not important for low collisionality. (paper)

Neoclassical economic orthodoxy and the need for a new post-crisis economic paradigm

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Andrei JOSAN

2013-08-01

Full Text Available Capitalism is a social adaptive system that evolve, change and grow in response to the challenges of a rapidly changing economic environment. When capitalism is seriously threatened by a systemic crisis, a new version much better adapted to existing conditions appears. Critical analysis of the fundamental ideas underlying neoclassical economic theory shows that the capitalist system is fundamentally a dynamic and therefore static neoclassical models proved to be unsuitable for studying it. Contrary to neoclassical economic vision, the capitalist economy is not governed by immutable economic laws. Global systemic crisis of capitalism that began in 2007 has highlighted the need for a new economic paradigm on which to be built and to be performed a new version of capitalism, in line with the increasingly complex realities of a globalized and quick changing world.

Chaotic neoclassical separatrix dissipation in parametric drift-wave decay.

Science.gov (United States)

Kabantsev, A A; Tsidulko, Yu A; Driscoll, C F

2014-02-07

Experiments and theory characterize a parametric decay instability between plasma drift waves when the nonlinear coupling is modified by an electrostatic barrier. Novel mode coupling terms representing enhanced dissipation and mode phase shifts are caused by chaotic separatrix crossings on the wave-ruffled separatrix. Experimental determination of these coupling terms is in broad agreement with new chaotic neoclassical transport analyses.

Observation of plasma toroidal-momentum dissipation by neoclassical toroidal viscosity.

Science.gov (United States)

Zhu, W; Sabbagh, S A; Bell, R E; Bialek, J M; Bell, M G; LeBlanc, B P; Kaye, S M; Levinton, F M; Menard, J E; Shaing, K C; Sontag, A C; Yuh, H

2006-06-09

Dissipation of plasma toroidal angular momentum is observed in the National Spherical Torus Experiment due to applied nonaxisymmetric magnetic fields and their plasma-induced increase by resonant field amplification and resistive wall mode destabilization. The measured decrease of the plasma toroidal angular momentum profile is compared to calculations of nonresonant drag torque based on the theory of neoclassical toroidal viscosity. Quantitative agreement between experiment and theory is found when the effect of toroidally trapped particles is included.

Nonlocal neoclassical transport in tokamak and spherical torus experiments

International Nuclear Information System (INIS)

Wang, W. X.; Rewoldt, G.; Tang, W. M.; Hinton, F. L.; Manickam, J.; Zakharov, L. E.; White, R. B.; Kaye, S.

2006-01-01

Large ion orbits can produce nonlocal neoclassical effects on ion heat transport, the ambipolar radial electric field, and the bootstrap current in realistic toroidal plasmas. Using a global δf particle simulation, it is found that the conventional local, linear gradient-flux relation is broken for the ion thermal transport near the magnetic axis. With regard to the transport level, it is found that details of the ion temperature profile determine whether the transport is higher or lower when compared with the predictions of standard neoclassical theory. Particularly, this nonlocal feature is suggested to exist in the National Spherical Torus Experiment (NSTX) [M. Ono, S. M. Kaye, Y.-K. M. Peng et al., Nucl. Fusion 40, 557 (2000)], being consistent with NSTX experimental evidence. It is also shown that a large ion temperature gradient can increase the bootstrap current. When the plasma rotation is taken into account, the toroidal rotation gradient can drive an additional parallel flow for the ions and then additional bootstrap current, either positive or negative, depending on the gradient direction. Compared with the carbon radial force balance estimate for the neoclassical poloidal flow, our nonlocal simulation predicts a significantly deeper radial electric field well at the location of an internal transport barrier of an NSTX discharge

Evaluation of negative environmental impacts of electricity generation: Neoclassical and institutional approaches

International Nuclear Information System (INIS)

Kim, Sang-Hoon

2007-01-01

Neoclassical and institutional economics have developed different theories and methodologies for evaluating environmental and social impacts of electricity generation. The neoclassical approach valuates external costs, and the institutional approach uses social cost valuation and MCDM methods. This paper focuses on three dimensions: theoretical and methodological backgrounds; critical review of specific studies: methodologies, results, and limitations; and discussing their results and implications for environmental policy and further research. The two approaches lead to a common conclusion that fossil fuels and nuclear power show the highest environmental impact. Despite the common conclusion, the conclusion has limited implications for environmental policy because of the weakness of their methodologies

Neoclassical MHD equations for tokamaks

International Nuclear Information System (INIS)

Callen, J.D.; Shaing, K.C.

1986-03-01

The moment equation approach to neoclassical-type processes is used to derive the flows, currents and resistive MHD-like equations for studying equilibria and instabilities in axisymmetric tokamak plasmas operating in the banana-plateau collisionality regime (ν* approx. 1). The resultant ''neoclassical MHD'' equations differ from the usual reduced equations of resistive MHD primarily by the addition of the important viscous relaxation effects within a magnetic flux surface. The primary effects of the parallel (poloidal) viscous relaxation are: (1) Rapid (approx. ν/sub i/) damping of the poloidal ion flow so the residual flow is only toroidal; (2) addition of the bootstrap current contribution to Ohm's laws; and (3) an enhanced (by B 2 /B/sub theta/ 2 ) polarization drift type term and consequent enhancement of the perpendicular dielectric constant due to parallel flow inertia, which causes the equations to depend only on the poloidal magnetic field B/sub theta/. Gyroviscosity (or diamagnetic vfiscosity) effects are included to properly treat the diamagnetic flow effects. The nonlinear form of the neoclassical MHD equations is derived and shown to satisfy an energy conservation equation with dissipation arising from Joule and poloidal viscous heating, and transport due to classical and neoclassical diffusion

Effect of ion viscosity on neoclassical tearing mode

International Nuclear Information System (INIS)

Yoshida, Shigeki; Itoh, Sanae-I.; Yagi, Masatoshi; Azumi, Masafumi

2004-01-01

Linear stability analysis of neoclassical tearing mode (NTM) is performed on the basis of four-field reduced magnetohydrodynamic (MHD) model which takes account of fluctuating ion parallel flow and ion neoclassical viscosity. The dependence of the growth rate on the kinetic effects is investigated. It is shown that the linear NTM is stabilized by ion neoclassical viscosity and that the stabilizing effect of ion parallel compressibility is weak in the banana-plateau regime. It is found that not only ion neoclassical viscosity but also both ion and electron diamagnetic effects are important for the stabilization of NTM. (author)

Strong drifts effects on neoclassical transport

International Nuclear Information System (INIS)

Tessarotto, M.; Gregoratto, D.; White, R.B.

1996-01-01

It is well known that strong drifts play an important role in plasma equilibrium, stability and confinement A significant example concerns, in particular for tokamak plasmas, the case of strong toroidal differential rotation produced by E x B drift which is currently regarded as potentially important for its influence in equilibrium, stability and transport. In fact, theoretically, it has been found that shear flow can substantially affect the stability of microinstabilities as well modify substantially transport. Recent experimental observations of enhanced confinement and transport regimes in Tokamaks, show, however, evidence of the existence of strong drifts in the plasma core. These are produced not only by the radial electric field [which gives rise to the E x B drift], but also by density [N s ], temperature [T s ] and mass flow [V = ωRe var-phi , with e var-phi the toroidal unit vector, R the distance for the symmetry axis of the torus and ω being the toroidal angular rotation velocity] profiles which are suitably steep. This implies that, in a significant part of the plasma core, the relevant scale lengths of the gradients [of N s , T s , ω], i.e., respectively L N , L T and L ω can be as large as the radial scale length characterizing the banana orbits, L b . Interestingly enough, the transport estimates obtained appear close or even lower than the predictions based on the simplest neoclassical model. However, as is well known, the latter applies, in a strict sense only in the case of weak drifts and also ignoring even the contribution of shear flow related to strong E x B drift. Thus a fundamental problem appears the extension of neoclassical transport theory to include the effect of strong drifts in Tokamak confinement systems. The goal of this investigation is to develop a general formulation of neoclassical transport embodying such important feature

Study of finite-orbit-width effect on neoclassical transport in tokamak core region

International Nuclear Information System (INIS)

Satake, Shinsuke; Okamoto, Masao

2004-01-01

Neoclassical transport simulation using the δf Monte-Carlo method is carried out to investigate the finite-orbit-width (FOW) effect on the transport near the magnetic axis. The time evolution of the radial electric field to maintain the ambipolarity of the flux is calculated simultaneously. It is found that, in the near-axis region, the ion heat flux decreases from the value predicted by the standard neoclassical theory both in the banana and plateau regimes. Though the radial transport shows a strong dependence on the FOW effect, the ambipolar electric field profile at the steady state is similar to that calculated in the small-orbit-width limit approximation. (author)

Neoclassical transport simulations for stellarators

International Nuclear Information System (INIS)

Turkin, Y.; Beidler, C. D.; Maassberg, H.; Murakami, S.; Wakasa, A.; Tribaldos, V.

2011-01-01

The benchmarking of the thermal neoclassical transport coefficients is described using examples of the Large Helical Device (LHD) and TJ-II stellarators. The thermal coefficients are evaluated by energy convolution of the monoenergetic coefficients obtained by direct interpolation or neural network techniques from the databases precalculated by different codes. The temperature profiles are calculated by a predictive transport code from the energy balance equations with the ambipolar radial electric field estimated from a diffusion equation to guarantee a unique and smooth solution, although several solutions of the ambipolarity condition may exist when root-finding is invoked; the density profiles are fixed. The thermal transport coefficients as well as the ambipolar radial electric field are compared and very reasonable agreement is found for both configurations. Together with an additional W7-X case, these configurations represent very different degrees of neoclassical confinement at low collisionalities. The impact of the neoclassical optimization on the energy confinement time is evaluated and the confinement times for different devices predicted by transport modeling are compared with the standard scaling for stellarators. Finally, all configurations are scaled to the same volume for a direct comparison of the volume-averaged pressure and the neoclassical degree of optimization.

Neoclassical compounds and final combining forms in English

Directory of Open Access Journals (Sweden)

Ana Díaz-Negrillo

2014-12-01

Full Text Available English neoclassical compounds rely on a distinct vocabulary stock and present morphological features which raise a number of theoretical questions. Generalisations about neoclassical compounds are also problematic because the output is by no means homogeneous, that is, defining features of neoclassical compounds sometimes co-exist with features that are not prototypical of these formations. The paper looks at neoclassical compounds with a view to exploring patterns of morphological behaviour and development in this class of compounds. The approach is both synchronic and diachronic: it researches whether the morphological behaviour of recently formed compounds is different from that of earlier compounds and, if so, in which respects. This is assessed on data from the BNC with respect to some of the features that are cited in the literature as defining properties of neoclassical compounds, specifically, their internal configuration, the occurrence or not of a linking vowel, and their productivity.

On neoclassical impurity transport in stellarator geometry

International Nuclear Information System (INIS)

García-Regaña, J M; Kleiber, R; Beidler, C D; Turkin, Y; Maaßberg, H; Helander, P

2013-01-01

The impurity dynamics in stellarators has become an issue of moderate concern due to the inherent tendency of the impurities to accumulate in the core when the neoclassical ambipolar radial electric field points radially inwards (ion root regime). This accumulation can lead to collapse of the plasma due to radiative losses, and thus limit high performance plasma discharges in non-axisymmetric devices. A quantitative description of the neoclassical impurity transport is complicated by the breakdown of the assumption of small E × B drift and trapping due to the electrostatic potential variation on a flux surface Φ-tilde compared with those due to the magnetic field gradient. This work examines the impact of this potential variation on neoclassical impurity transport in the Large Helical Device heliotron. It shows that the neoclassical impurity transport can be strongly affected by Φ-tilde . The central numerical tool used is the δf particle in cell Monte Carlo code EUTERPE. The Φ-tilde used in the calculations is provided by the neoclassical code GSRAKE. The possibility of obtaining a more general Φ-tilde self-consistently with EUTERPE is also addressed and a preliminary calculation is presented. (paper)

Neoclassical alpha-particle losses in tokamaks allowing for large orbit widths

International Nuclear Information System (INIS)

Cox, M.; O'Brien, M.R.; Zaitsev, F.S.

1994-01-01

Alpha-particle physics is of particular importance now that research into controlled fusion has reached thermonuclear parameters and D-T fuel has been used in JET and TFTR. Here we address the important topic of α-particle transport: if transport is too low helium ash accumulates quenching the burn; if it is too high heating of the plasma by fast α-particles is insufficient to maintain the burn. We give results from simulations of α-particle distributions (f α ) which self-consistently treat α-particle birth, collisional slowing down and neoclassical radial transport. The (steady-state) f α is calculated by the FPP code as a function of speed (v), pitch-angle (θ) and flux surface radius (r). This code is based on a 3D Fokker-Planck theory of 'banana regime' neoclassical effects in tokamaks which can treat large deviations of fast ion orbits from flux surfaces and non-Maxwellian distributions. The code reproduces standard neoclassical results for Maxwellian distributions in the large aspect ratio (ε) and small orbit width (Δ) limits (e.g. radial fluxes, conductivities and bootstrap currents), but can also be used for small ε and large Δ which are difficult to treat analytically. The code is particularly useful for α-particle studies as (a) the experimental evidence is that fast ion transport is usually consistent with neoclassical theory, unlike electron or thermal ion transport, and (b) trapped fast ion orbits can deviate greatly from flux surfaces. An alternative to this Fokker-Planck treatment is Monte Carlo modelling. However, representation of the detailed structure of f α (θ,v,r) would require very large number of particles, and hence be very slow. Calculations have been made for parameters typical of TFTR, JET, SSTR (an 'advanced tokamak' reactor) and STR (a tight aspect ratio or 'spherical' tokamak reactor, though only the JET results are discussed in detail. (author) 4 refs., 4 figs

Are neoclassical canons valid for southern Chinese faces?

Directory of Open Access Journals (Sweden)

Yasas S N Jayaratne

Full Text Available BACKGROUND: Proportions derived from neoclassical canons, initially described by Renaissance sculptors and painters, are still being employed as aesthetic guidelines during the clinical assessment of the facial morphology. OBJECTIVE: 1. to determine the applicability of neoclassical canons for Southern Chinese faces and 2. to explore gender differences in relation to the applicability of the neoclassical canons and their variants. METHODOLOGY: 3-D photographs acquired from 103 young adults (51 males and 52 females without facial dysmorphology were used to test applicability of four neoclassical canons. Standard anthropometric measurements that determine the facial canons were made on these 3-D images. The validity of the canons as well as their different variants were quantified. PRINCIPAL FINDINGS: The neoclassical cannons seldom applied to these individuals, and facial three-section and orbital canons did not apply at all. The orbitonasal canon was most frequently applicable, with a frequency of 19%. Significant sexual dimorphism was found relative to the prevalence of the variants of facial three-section and orbitonasal canons. CONCLUSION: The neoclassical canons did not appear to apply to our sample when rigorous quantitative measurements were employed. Thus, they should not be used as esthetic goals for craniofacial surgical interventions.

Loss Aversion and Time-Differentiated Electricity Pricing

Energy Technology Data Exchange (ETDEWEB)

Spurlock, C. Anna [Lawrence Berkeley National Lab. (LBNL), Berkeley, CA (United States)

2015-06-01

I develop a model of loss aversion over electricity expenditure, from which I derive testable predictions for household electricity consumption while on combination time-of-use (TOU) and critical peak pricing (CPP) plans. Testing these predictions results in evidence consistent with loss aversion: (1) spillover effects - positive expenditure shocks resulted in significantly more peak consumption reduction for several weeks thereafter; and (2) clustering - disproportionate probability of consuming such that expenditure would be equal between the TOUCPP or standard flat-rate pricing structures. This behavior is inconsistent with a purely neoclassical utility model, and has important implications for application of time-differentiated electricity pricing.

Los precios en la nueva síntesis neoclásica-keynesiana en macroeconomía

Directory of Open Access Journals (Sweden)

Alexander Tobón

2008-12-01

Full Text Available The aim of this paper is to study the role that prices play in the New Neoclassical Synthesis. It is shown that although the New Synthesis emphasizes the importance of having a monetary theory to recommend monetary policies, it essentially offers the same answers on the minor role of prices in static macroeconomics. In spite of this, the New Neoclassical Synthesis has the merit of attempting to return to the pre-Keynesian intuitions of Wicksell, which indeed could contribute to the search for not just better answers, but for new questions regarding prices in a monetary theory.

Predicting Malaysian palm oil price using Extreme Value Theory

OpenAIRE

Chuangchid, K; Sriboonchitta, S; Rahman, S; Wiboonpongse, A

2013-01-01

This paper uses the extreme value theory (EVT) to predict extreme price events of Malaysian palm oil in the future, based on monthly futures price data for a 25 year period (mid-1986 to mid-2011). Model diagnostic has confirmed non-normal distribution of palm oil price data, thereby justifying the use of EVT. Two principal approaches to model extreme values – the Block Maxima (BM) and Peak-Over- Threshold (POT) models – were used. Both models revealed that the palm oil price will peak at ...

A neoclassical analysis of the 2001 crisis in Turkey

OpenAIRE

Türe, Elif Hatice; Ture, Elif Hatice

2008-01-01

In early 2001, Turkey experienced a severe economic crisis and many researchers attempted to qualitatively explain this downturn through analyzing the facts that caused the crisis and the effects it had on the economy. The focus of this paper is to complement these studies by quantitatively analyzing the economic fluctuations during the 2001 crisis in the light of the neoclassical growth theory. In this paper, it is shown that a standard dynamic stochastic small open economy model with exogen...

Observation of neoclassical transport in reverse shear plasmas on TFTR

International Nuclear Information System (INIS)

Efthimion, P.C.; Goeler, S. von; Houlberg, W.A.

1999-01-01

Perturbative experiments on TFTR have investigated the transport of multiple ion species in reverse shear (RS) plasmas. The profile evolutions of trace tritium and helium and intrinsic carbon indicate the formation of core particle transport barriers in enhanced reverse shear (ERS) plasmas. There is an order of magnitude reduction in the particle diffusivity inside the RS region. The diffusivities for these species in ERS plasmas agree with neoclassical theory. (author)

Neoclassical rotation velocities in multispecies plasmas

International Nuclear Information System (INIS)

Houlberg, W.A.; Hirshman, S.P.; Shaing, K.C.

1996-01-01

We examine the relationships between the poloidal, toroidal and parallel rotation velocities for typical plasma conditions in existing tokamak experiments. The radial force balance, neoclassical solution to the poloidal flow from the parallel force balance, and anomalous toroidal rotation axe included. A full multispecies formulation of the neoclassical transport theory is implemented in the NCLASS code (which includes arbitrary axisymmetric geometries and plasma collisionalities) to determine the poloidal rotation velocities. Comparisons are made with analytic relationships derived from a single impurity formulation of the problem. The roles of the radial electric field and species density and pressure gradients are evaluated. The determination of the radial electric field using the NCLASS solution for poloidal rotation and a local measurement of the toroidal rotation in conjunction with measured plasma profiles is discussed; it has been used in analysis of TFTR enhanced reverse shear plasmas. The ordering of banana orbit size small relative to local minor radius and gradients (as incorporated into initial versions of NCLASS) are examined for typical negative shear plasmas. We show the degree to which these constraints axe violated and demonstrate that finite orbit corrections axe required for better determination of the bootstrap current, particle fluxes and ion heat fluxes, i.e., the conditions r much-lt Δ b much-lt r n , r T , r E are significantly violated. Progress in relaxing these constraints is discussed

Neoclassical resonant transport of a mirror cell

International Nuclear Information System (INIS)

Ito, T.; Katanuma, I.

2005-01-01

The neoclassical resonant plateau transport in a mirror cell is studied theoretically. The analytical expression for a non-square-well magnetic field is obtained. The analytical result is applied to the GAMMA10 tandem mirror [T. Cho, M. Yoshida, J. Kohagura et al., Phys. Rev. Lett. 94, 085002-1 (2005)], which consists of several mirror cells in it, and the confinement time due to the neoclassical resonant plateau transport is determined in each mirror cell. It is found that the neoclassical resonant transport of ions trapped in the nonaxisymmetric anchor mirror cell and transition mirror cells is significantly smaller than those trapped in the central cell

Product price control using game theory: A case study of a fish price in the state of Terengganu

Science.gov (United States)

Safiih, L. Muhamad; Afiq, R. Mohd Noor

2014-07-01

The increase in the price of goods is often a concern among the community. This is caused by factors that beyond of controlled such as a natural disaster, and others that cause the demand exceed the current supply. However, what is more concerning is the increase in price of goods due to the individual who raises the price in order to earn higher profits. Therefore, to overcome this problem, a method of price controls using Game Theory is considered. The Game Theory realizing a form of observational on the action and effects that occur by an individual or group to maximize the utilization under certain circumstances. The study was conducted on prices of 14 fish commodities in the state of Terengganu and also to see the cooperation effect between players of commodity prices. Data were analysed by using the software Gambit. The result shows that there is significant increase due to the influence of middlemen. The findings also shows that the price controls are applied at a set time, then it was applied to other times, prices are more stable and profitable returns to all parties can be maximized.

Density control problems in large stellarators with neoclassical transport

International Nuclear Information System (INIS)

Maassberg, H.; Beidler, C.D.; Simmet, E.E.

1999-01-01

With respect to the particle flux, the off-diagonal term in the neoclassical transport matrix becomes crucial in the stellarator long-mean-free-path regime. Central heating with peaked temperature profiles can make an active density profile control by central particle refuelling mandatory. The neoclassical particle confinement can significantly exceed the energy confinement at the outer radii. As a consequence, the required central refuelling may be larger than the neoclassical particle fluxes at outer radii leading to the loss of the global density control. Radiative losses as well as additional 'anomalous' electron heat diffusivities further exacerbate this problem. In addition to the analytical formulation of the neoclassical link of particle and energy fluxes, simplified model simulations as well as time-dependent ASTRA code simulations are described. In particular, the 'low-' and 'high-mirror' W7-X configurations are compared. For the W7-X 'high-mirror' configuration especially, the appearance of the neoclassical particle transport barrier is predicted at higher densities. (author)

Neoclassical tearing modes in a tokamak

International Nuclear Information System (INIS)

Hahm, T.S.

1988-08-01

Linear tearing instability is studied in the banana collisionality regime in tokamak geometry. Neoclassical effects produce significant modifications of Ohm's law and the vorticity equation so that the growth rate of tearing modes driven by Δ' is dramatically reduced compared to the usual resistive MHD value. Consequences of this result, regarding the presence of pressure-gradient-driven neoclassical resistive interchange instabilities and the evolution of magnetic islands in the Rutherford regime, are discussed. 10 refs

The capital-asset-pricing model and arbitrage pricing theory: a unification.

Science.gov (United States)

Ali Khan, M; Sun, Y

1997-04-15

We present a model of a financial market in which naive diversification, based simply on portfolio size and obtained as a consequence of the law of large numbers, is distinguished from efficient diversification, based on mean-variance analysis. This distinction yields a valuation formula involving only the essential risk embodied in an asset's return, where the overall risk can be decomposed into a systematic and an unsystematic part, as in the arbitrage pricing theory; and the systematic component further decomposed into an essential and an inessential part, as in the capital-asset-pricing model. The two theories are thus unified, and their individual asset-pricing formulas shown to be equivalent to the pervasive economic principle of no arbitrage. The factors in the model are endogenously chosen by a procedure analogous to the Karhunen-Loéve expansion of continuous time stochastic processes; it has an optimality property justifying the use of a relatively small number of them to describe the underlying correlational structures. Our idealized limit model is based on a continuum of assets indexed by a hyperfinite Loeb measure space, and it is asymptotically implementable in a setting with a large but finite number of assets. Because the difficulties in the formulation of the law of large numbers with a standard continuum of random variables are well known, the model uncovers some basic phenomena not amenable to classical methods, and whose approximate counterparts are not already, or even readily, apparent in the asymptotic setting.

Neoclassical bootstrap current and transport in optimized stellarator configurations

International Nuclear Information System (INIS)

Maassberg, H.; Lotz, W.; Nuehrenberg, J.

1993-01-01

The neoclassical bootstrap current properties of optimized stellarators are analyzed in the relevant mean-free-path regimes and compared with the neoclassical transport properties. Two methods---global Monte Carlo simulation [Phys. Fluids 31, 2984 (1988)], and local analysis with the drift kinetic equation solver code [Phys. Fluids B 1, 563 (1989)]---are employed and good agreement is obtained. Full consistency with the elimination of the bootstrap current and favorable neoclassical transport are found

Energy price disparity and public welfare

International Nuclear Information System (INIS)

Templet, P.H.

2001-01-01

The differences in the price of energy to economic sectors are linked to a number of system parameters and to public welfare. There are large disparities in energy prices within states when comparing residential and industrial prices although neoclassical economics predicts one price in markets. The large disparities between the two sectors across states negatively affects the efficiency of resource allocation, creates subsidies for those getting the cheap energy and results in unequal access to energy. These in turn lead to inefficient partitioning of energy between products and waste, higher pollution, leakage of wealth and poorer energy use efficiency, i.e. high energy intensity. States with large energy price disparities between sectors have statistically higher poverty, lower incomes, more pollution and use more energy but with less efficiency. Higher energy price disparities also result in higher throughput per unit of output thus reducing the chances for sustainability and lower public welfare. 31 refs

Observations of neoclassical and anomalous resistivity in toroidal discharges

International Nuclear Information System (INIS)

Etzweiler, J.F.; Brouchous, D.A.

1980-03-01

Plasma resistivity measurements parallel to the magnetic field have been made on the .Wisconsin supported octupole and the Wisconsin levitated octupole. Plasmas ranged in density from 10 8 cm -3 to 10 12 cm -3 and varied from highly collisionless to highly collisional. The measured resistivity was found to agree with neoclassical resistivity theory in the collisional and transition regimes. Highly collisionless plasmas were found to have anomalously high resistivity which obeyed the T/sub e//sup 1/2//n/sub e/ scaling of the transition regime

Heterodox surplus approach: production, prices, and value theory

OpenAIRE

Lee, Frederic

2011-01-01

In this paper I argue that that there is a heterodox social surplus approach that has its own account of output-employment and prices, and its own value theory which draws upon various heterodox traditions. Starting with the Sraffian technical definition of the social surplus and then working with a Sraffa-Leontief input-output framework, the particular distinguishing feature of the heterodox approach is the role of agency in determining prices, the social surplus, and total social product a...

The Price Equation, Gradient Dynamics, and Continuous Trait Game Theory.

Science.gov (United States)

Lehtonen, Jussi

2018-01-01

A recent article convincingly nominated the Price equation as the fundamental theorem of evolution and used it as a foundation to derive several other theorems. A major section of evolutionary theory that was not addressed is that of game theory and gradient dynamics of continuous traits with frequency-dependent fitness. Deriving fundamental results in these fields under the unifying framework of the Price equation illuminates similarities and differences between approaches and allows a simple, unified view of game-theoretical and dynamic concepts. Using Taylor polynomials and the Price equation, I derive a dynamic measure of evolutionary change, a condition for singular points, the convergence stability criterion, and an alternative interpretation of evolutionary stability. Furthermore, by applying the Price equation to a multivariable Taylor polynomial, the direct fitness approach to kin selection emerges. Finally, I compare these results to the mean gradient equation of quantitative genetics and the canonical equation of adaptive dynamics.

Price competition, level-k theory and communication

DEFF Research Database (Denmark)

Wengström, Erik Roland

2008-01-01

This paper analyzes communication in a price competition game using the level-$k$ theory of bounded rationality. The level-k analysis predicts prices to be higher with communication than without. Our experimental evidence lends support to the view that communication affects subjects in a way...... that is compatible with the level-k model, indicating that people lie in order to fool other players that they believe do less thinking. Moreover, the results indicate that the predictive power of the level-k model does crucially depend on the possibility for high level players to form homogenous beliefs about...

The implications of migration theory for distributive justice

OpenAIRE

Sager, Alex

2012-01-01

This paper explores the implications of empirical theories of migration for normative accounts of migration and distributive justice. It examines neo-classical economics, world-systems theory, dual labor market theory, and feminist approaches to migration and contends that neo-classical economic theory in isolation provides an inadequate understanding of migration. Other theories provide a fuller account of how national and global economic, political, and social institutions cause and shape m...

Neoclassical transport including collisional nonlinearity.

Science.gov (United States)

Candy, J; Belli, E A

2011-06-10

In the standard δf theory of neoclassical transport, the zeroth-order (Maxwellian) solution is obtained analytically via the solution of a nonlinear equation. The first-order correction δf is subsequently computed as the solution of a linear, inhomogeneous equation that includes the linearized Fokker-Planck collision operator. This equation admits analytic solutions only in extreme asymptotic limits (banana, plateau, Pfirsch-Schlüter), and so must be solved numerically for realistic plasma parameters. Recently, numerical codes have appeared which attempt to compute the total distribution f more accurately than in the standard ordering by retaining some nonlinear terms related to finite-orbit width, while simultaneously reusing some form of the linearized collision operator. In this work we show that higher-order corrections to the distribution function may be unphysical if collisional nonlinearities are ignored.

Neo-classical economics, institutional economics and improved fisheries management

NARCIS (Netherlands)

van der Burg, Tsjalle

2000-01-01

According to neo-classical economists, taxes and individual transferable quotas (ITQs) are the most efficient measures for dealing with the problem of overfishing. Institutional economists, however, criticise neo-classical economists for neglecting political problems, enforcement problems and

Adam Smith's invisible hand is unstable: physics and dynamics reasoning applied to economic theorizing

Science.gov (United States)

McCauley, Joseph L.

2002-11-01

Neo-classical economic theory is based on the postulated, nonempiric notion of utility. Neo-classical economists assume that prices, dynamics, and market equilibria are supposed to be derived from utility. The results are supposed to represent mathematically the stabilizing action of Adam Smith's invisible hand. In deterministic excess demand dynamics, however, a utility function generally does not exist mathematically due to nonintegrability. Price as a function of demand does not exist and all equilibria are unstable. Qualitatively, and empirically, the neo-classical prediction of price as a function of demand describes neither consumer nor trader demand. We also discuss five inconsistent definitions of equilibrium used in economics and finance, only one of which is correct, and then explain the fallacy in the economists’ notion of ‘temporary price equilibria’.

Neoclassical transport and radial electric fields in TJ-K

International Nuclear Information System (INIS)

Rahbarnia, K.; Greiner, F.; Ramisch, M.; Stroth, U.; Greiner, F.

2003-01-01

The neoclassical transport is investigated in the torsatron TJ-K, which is operated with a low-temperature plasma. In the low-collisionality regime neoclassical losses are not intrinsically ambipolar, leading to the formation of a radial electric field which acts on both neoclassical and turbulent transport. This electric field is measured with a combination of Langmuir and emissive probes. The data are compared with the ambipolar electric field calculated with an analytic model. The experimental fields are positive and larger than the calculated ones. Direct losses of the fast electrons might explain this discrepancy. (orig.)

Testing neoclassical competitive market theory in the field.

Science.gov (United States)

List, John A

2002-11-26

This study presents results from a pilot field experiment that tests predictions of competitive market theory. A major advantage of this particular field experimental design is that my laboratory is the marketplace: subjects are engaged in buying, selling, and trading activities whether I run an exchange experiment or am a passive observer. In this sense, I am gathering data in a natural environment while still maintaining the necessary control to execute a clean comparison between treatments. The main results of the study fall into two categories. First, the competitive model predicts reasonably well in some market treatments: the expected price and quantity levels are approximated in many market rounds. Second, the data suggest that market composition is important: buyer and seller experience levels impact not only the distribution of rents but also the overall level of rents captured. An unexpected result in this regard is that average market efficiency is lowest in markets that match experienced buyers and experienced sellers and highest when experienced buyers engage in bargaining with inexperienced sellers. Together, these results suggest that both market experience and market composition play an important role in the equilibrium discovery process.

Neoclassical impurity transport and observations of poloidal asymmetries in JET

International Nuclear Information System (INIS)

Feneberg, W.; Mast, F.K.; Martin, P.; Gottardi, N.

1986-01-01

Bolometrically measured asymmetries of emissivity for some characteristic JET discharges are presented and are in good agreement with theoretical results of calculations worked out in the frame of neoclassical theory. Application of theory to the case of strong toroidal rotation as induced with neutral injection shows a sensitive dependance of the impurity transport perpendicular to the magnetic surfaces from the parameter of poloidal rotation. The main result is the existence of a classical flow reversal. Without any poloidal rotation of the background ions, a large inward flow of impurities for co- and counter-injection is always predicted, while poloidal rotation in the direction of the ion diamagnetic drift motion leads to a strong outward drift. (author)

The principle of holism in post-neoclassical philosophy of history

Directory of Open Access Journals (Sweden)

Y. A. Dobrolyubska

2014-02-01

Full Text Available The principle of holism restores historical science tendency to grasp the past as a «whole matter» and raises the questions about the global synthesis, based on the integration of micro­ and makrohistory, narrative and metatheory. Post­neoclassical subsystem in the philosophy of history operates of the corresponding concept of truth. Scientific truth is always contextual. She stated subject to the methodological postulates, which designed a specific research situation. Historical studies of scientific search for truth is always associated with the study of specific historical events or historical building theories. Both approaches solve the problem of objectivity: a theoretical history try to discover the truth, liberated from specific features and history of events wishes to discover the truth, given in the particular nuances of the entire event. Based on the corresponding concept of truth post­neoclassical subsystem aims to reconstruct the historical reality in all its fullness, complexity and specificity. This subsystem comes to the fundamental principle of post­neoclassical philosophy of history – to the principle of holism. On the one hand this principle orients the historian to the need for a holistic study of the subject of research, on the other hand he directs the historian to the study of historical reality as a hierarchy of «integrality», which can not be reduced to the parts that make up. Also it is emphasized that the meaning of these parts must necessarily be present as a sense of the whole context.

Effects of radial electrical field on neoclassical transport in tokamaks

International Nuclear Information System (INIS)

Wang Zhongtian; Le Clair, G.

1996-07-01

Neoclassical transport theory for tokamaks in presence of a radial electrical field with shear is developed using Hamiltonian formalism. Diffusion coefficients are derived in both plateau regime including a large electric field and banana regime including the squeezing factor which can greatly affect diffusion at the plasma edge. The scaling on squeezing factor is different from the one given by Shaing and Hazeltine. Rotation speeds are calculated in the scrape-off region. They are in good agreement with measurements on TdeV Tokamak. (2 figs.)

Theories of international labor migration: an overview.

Science.gov (United States)

Stahl, C W

1995-01-01

"Emigration pressures are primarily the result of increasing inequalities between countries which, in turn, are the result of factors internal to less developed countries and their relations with developed countries. Both micro (neoclassical) and macrostructural theories of migration are reviewed. It is argued that the neoclassical theory of migration is often unjustly criticized and is sufficiently robust to incorporate those structural considerations which are at the core of macrostructural theories. Moreover, the neoclassical theory, with slight modification, can incorporate the ¿new economics of migration.' The major empirical problem confronting models of international labor migration is that migration flows are constrained by immigration policy. This policy, in turn, is influenced by various special interest groups. The direction and form of migration flows is conditioned by contemporary and historical relationships between source and destination countries." excerpt

The turn in economics: neoclassical dominance to mainstream pluralism?

NARCIS (Netherlands)

Davis, J.B.

2006-01-01

This paper investigates whether since the 1980s neoclassical economics has been in the process of being supplanted as the dominant research programme in economics by a collection of competing research approaches which share relatively little in common with each other or with neoclassical economics.

Neoclassical and Behavioural Asset Pricing Models : The Case of Sri Lanka

OpenAIRE

Perera, Shenali Anne

2013-01-01

This study aims to provide a better understanding of the Sri Lankan stock market in terms of asset pricing models. In order to achieve this goal this research evaluates the Fama and French three-factor model and a behavioural asset pricing model to investigate which framework is better suited for security valuation in Sri Lanka. Accordingly findings reveal that small stocks with low book-to-market equity generate high realized returns. But results indicate that superior returns on these stock...

Arbitrage Pricing, Capital Asset Pricing, and Agricultural Assets

OpenAIRE

Louise M. Arthur; Colin A. Carter; Fay Abizadeh

1988-01-01

A new asset pricing model, the arbitrage pricing theory, has been developed as an alternative to the capital asset pricing model. The arbitrage pricing theory model is used to analyze the relationship between risk and return for agricultural assets. The major conclusion is that the arbitrage pricing theory results support previous capital asset pricing model findings that the estimated risk associated with agricultural assets is low. This conclusion is more robust for the arbitrage pricing th...

Equilibrium theory : A salient approach

NARCIS (Netherlands)

Schalk, S.

1999-01-01

Whereas the neoclassical models in General Equilibrium Theory focus on the existence of separate commodities, this thesis regards 'bundles of trade' as the unit objects of exchange. Apart from commodities and commodity bundles in the neoclassical sense, the term `bundle of trade' includes, for

Studies of the neoclassical transport for CNT

International Nuclear Information System (INIS)

Seiwald, B; Nemov, V V; Pedersen, T Sunn; Kernbichler, W

2007-01-01

The original optimization of the Columbia Nonneutral Torus (CNT) considering only volume (and error field resilience) was also successful in optimizing the stored energy. To assess the general confinement properties of a device, studies of the 1/ν neoclassical transport (effective ripple ε eff ) are important. For CNT the field line tracing code NEO is used to compute ε eff . NEO is used by the code SORSSA for computation of the total stored energy based on neoclassical transport

Self-consistent gyrokinetic modeling of neoclassical and turbulent impurity transport

Science.gov (United States)

Estève, D.; Sarazin, Y.; Garbet, X.; Grandgirard, V.; Breton, S.; Donnel, P.; Asahi, Y.; Bourdelle, C.; Dif-Pradalier, G.; Ehrlacher, C.; Emeriau, C.; Ghendrih, Ph.; Gillot, C.; Latu, G.; Passeron, C.

2018-03-01

Trace impurity transport is studied with the flux-driven gyrokinetic GYSELA code (Grandgirard et al 2016 Comput. Phys. Commun. 207 35). A reduced and linearized multi-species collision operator has been recently implemented, so that both neoclassical and turbulent transport channels can be treated self-consistently on an equal footing. In the Pfirsch-Schlüter regime that is probably relevant for tungsten, the standard expression for the neoclassical impurity flux is shown to be recovered from gyrokinetics with the employed collision operator. Purely neoclassical simulations of deuterium plasma with trace impurities of helium, carbon and tungsten lead to impurity diffusion coefficients, inward pinch velocities due to density peaking, and thermo-diffusion terms which quantitatively agree with neoclassical predictions and NEO simulations (Belli et al 2012 Plasma Phys. Control. Fusion 54 015015). The thermal screening factor appears to be less than predicted analytically in the Pfirsch-Schlüter regime, which can be detrimental to fusion performance. Finally, self-consistent nonlinear simulations have revealed that the tungsten impurity flux is not the sum of turbulent and neoclassical fluxes computed separately, as is usually assumed. The synergy partly results from the turbulence-driven in-out poloidal asymmetry of tungsten density. This result suggests the need for self-consistent simulations of impurity transport, i.e. including both turbulence and neoclassical physics, in view of quantitative predictions for ITER.

Prospect theory: An application to European option pricing

OpenAIRE

Martina Nardon; Paolo Pianca

2012-01-01

Empirical studies on quoted options highlight deviations from the theoretical model of Black and Scholes; this is due to different causes, such as assumptions regarding the price dynamics, markets frictions and investors' attitude toward risk. In this contribution, we focus on this latter issue and study how to value European options within the continuous cumulative prospect theory. According to prospect theory, individuals do not always take their decisions consistently with the maximization...

Effect of sheared flows on neoclassical tearing modes

Energy Technology Data Exchange (ETDEWEB)

Sen, A [Institute for Plasma Research, Bhat, Gandhinagar (India); Chandra, D; Kaw, P [Institute for Plasma Research, Bhat, Gandhinagar (India); Bora, M P [Physics Dept., Gauhati University, Guwahati (India); Kruger, S [Tech-X, Boulder, CO (United States); Ramos, J [Plasma Science and Fusion Center, MIT, Cambridge, MA (United States)

2005-01-01

The influence of toroidal sheared equilibrium flows on the nonlinear evolution of classical and neoclassical tearing modes (NTMs) is studied through numerical solutions of a set of reduced generalized MHD equations that include viscous force effects based on neoclassical closures. In general, differential flow is found to have a strong stabilizing influence leading to lower saturated island widths for the classical (m/n = 2/1) mode and reduced growth rates for the (m/n = 3/1) neoclassical mode. Velocity shear on the other hand is seen to make a destabilizing contribution. An analytic model calculation, consisting of a generalized Rutherford island evolution equation that includes shear flow effects is also presented and the numerical results are discussed in the context of this model. (author)

Neoclassical transport optimization of LHD

International Nuclear Information System (INIS)

Murakami, S.; Yamada, H.; Watanabe, K.Y.; Wakasa, A.; Maassberg, H.; Beidler, C.D.

2002-06-01

Neoclassical transport is studied for LHD configurations in which the magnetic axis has been shifted radially by determining the mono-energetic transport coefficient and the effective helical ripple. With respect to the transport in the long mean free path collisionality region - the so called 1/ν transport -, the optimum configuration is found when the magnetic axis has a major radius of 3.53m, which is 0.22m inward shifted from the standard'' configuration of LHD. In the optimized case, the effective helical ripple is very small, remaining below 2% inside 4/5 of the plasma radius. This indicates that a strong inward shift of the magnetic axis in the LHD can diminish the neoclassical transport to a level typical of so-called advanced stellarators''. (author)

Revealed Preference Theory, Rationality, and Neoclassical ...

African Journals Online (AJOL)

Revealed Preference Theory (Samuelson 1938) is an attempt to establish economic theory as a genuine empirical science by ridding it of nonempirical psychological concepts. Samuelson's goal was to rid economic theory of the last vestiges of utility analysis. Samuelson structured his theory on a set of preference axioms ...

The capital-asset-pricing model and arbitrage pricing theory: A unification

Science.gov (United States)

Khan, M. Ali; Sun, Yeneng

1997-01-01

We present a model of a financial market in which naive diversification, based simply on portfolio size and obtained as a consequence of the law of large numbers, is distinguished from efficient diversification, based on mean-variance analysis. This distinction yields a valuation formula involving only the essential risk embodied in an asset’s return, where the overall risk can be decomposed into a systematic and an unsystematic part, as in the arbitrage pricing theory; and the systematic component further decomposed into an essential and an inessential part, as in the capital-asset-pricing model. The two theories are thus unified, and their individual asset-pricing formulas shown to be equivalent to the pervasive economic principle of no arbitrage. The factors in the model are endogenously chosen by a procedure analogous to the Karhunen–Loéve expansion of continuous time stochastic processes; it has an optimality property justifying the use of a relatively small number of them to describe the underlying correlational structures. Our idealized limit model is based on a continuum of assets indexed by a hyperfinite Loeb measure space, and it is asymptotically implementable in a setting with a large but finite number of assets. Because the difficulties in the formulation of the law of large numbers with a standard continuum of random variables are well known, the model uncovers some basic phenomena not amenable to classical methods, and whose approximate counterparts are not already, or even readily, apparent in the asymptotic setting. PMID:11038614

Computational modeling of neoclassical and resistive magnetohydrodynamic tearing modes in tokamaks

International Nuclear Information System (INIS)

Gianakon, T.A.; Hegna, C.C.; Callen, J.D.

1996-01-01

Numerical studies of the nonlinear evolution of magnetohydrodynamic-type tearing modes in three-dimensional toroidal geometry with neoclassical effects are presented. The inclusion of neoclassical physics introduces an additional free-energy source for the nonlinear formation of magnetic islands through the effects of a bootstrap current in Ohm close-quote s law. The neoclassical tearing mode is demonstrated to be destabilized in plasmas which are otherwise Δ' stable, albeit once an island width threshold is exceeded. The plasma pressure dynamics and neoclassical tearing growth is shown to be sensitive to the choice of the ratio of the parallel to perpendicular diffusivity (χ parallel /χ perpendicular ). The study is completed with a demonstration and theoretical comparison of the threshold for single helicity neoclassical magnetohydrodynamic tearing modes, which is described based on parameter scans of the local pressure gradient, the ratio of perpendicular to parallel pressure diffusivities χ perpendicular /χ parallel , and the magnitude of an initial seed magnetic perturbation. copyright 1996 American Institute of Physics

Transition from resistive ballooning to neoclassical magnetohydrodynamic pressure-gradient-driven instability

International Nuclear Information System (INIS)

Spong, D.A.; Shaing, K.C.; Carreras, B.A.; Charlton, L.A.; Callen, J.D.; Garcia, L.

1988-10-01

The linearized neoclassical magnetohydrodynamic equations, including perturbed neoclassical flows and currents, have been solved for parameter regimes where the neoclassical pressure-gradient-driven instability becomes important. This instability is driven by the fluctuating bootstrap current term in Ohm's law. It begins to dominate the conventional resistive ballooning mode in the banana-plateau collisionality regime [μ/sub e//ν/sub e/ /approximately/ √ε/(1 + ν/sub *e/) > ε 2 ] and is characterized by a larger radial mode width and higher growth rate. The neoclassical instability persists in the absence of the usual magnetic field curvature drive and is not significantly affected by compressibility. Scalings with respect to β, n (toroidal mode number), and μ (neoclassical viscosity) are examined using a large-aspect-ratio, three-dimensional initial-value code that solves linearized equations for the magnetic flux, fluid vorticity, density, and parallel ion flow velocity in axisymmetric toroidal geometry. 13 refs., 10 figs

Computational modeling of neoclassical and resistive MHD tearing modes in tokamaks

International Nuclear Information System (INIS)

Gianakon, T.A.; Hegna, C.C.; Callen, J.D.

1996-01-01

Numerical studies of the nonlinear evolution of MHD-type tearing modes in three-dimensional toroidal geometry with neoclassical effects are presented. The inclusion of neoclassical physics introduces an additional free-energy source for the nonlinear formation of magnetic islands through the effects of a bootstrap current in Ohm's law. The neoclassical tearing mode is demonstrated to be destabilized in plasmas which are otherwise Δ' stable, albeit once an island width threshold is exceeded. The plasma pressure dynamics and neoclassical tearing growth is shown to be sensitive to the choice of the ratio of the parallel to perpendicular diffusivity (Χ parallel/Χ perpendicular). The study is completed with a demonstration and theoretical comparison of the threshold for single helicity neoclassical MHD tearing modes, which is described based on parameter scans of the local pressure gradient, the ratio of perpendicular to parallel pressure diffusivities Χ perpendicular/Χ parallel, and the magnitude of an initial seed magnetic perturbation

Influence of collision frequency on neoclassical polarization current

International Nuclear Information System (INIS)

Imada, K; Wilson, H R

2009-01-01

A kinetic theory for the evolution of magnetic islands is considered in a tokamak plasma, in both the low (ν i i >> εω) collision frequency limits (ν i is the ion collision frequency, ε is the inverse aspect ratio and ω is the island propagation frequency in the E x B rest frame). The calculation of the bootstrap current perturbation in the presence of a magnetic island is reviewed, and is confirmed to be independent of ω and the collision frequency regime. The neoclassical polarization current perturbation is calculated in the two collision frequency limits (within the banana regime). The result in the collisional limit is in agreement with a fluid theory. The effect of collisions in the 'dissipation layer' at the trapped/passing boundary is also considered, for ν i i /εω] 1/2 , where r is a weak logarithmic function of √ν i /εω.

Neoclassical effects on the stabilization of tearing mode by current modulation

Energy Technology Data Exchange (ETDEWEB)

Yang, Xiaoqing, E-mail: inkyang@mail.ustc.edu.cn; Wang, Shaojie; Yang, Weihong [Department of Modern Physics, University of Science and Technology of China, Hefei, 230026 (China)

2014-02-15

The neoclassical effects on the stabilization of tearing modes by current modulation have been investigated. Neoclassical effects enhance the resistivity and reduce the resistive diffusion time of the modulation current. Therefore, the oscillating current can penetrate deeper into the plasma. With an oscillating loop voltage, the plasma oscillates radially at the Ware-pinch velocity. These neoclassical effects improve the efficiency of tearing mode stabilization by the current modulation.

Neoclassical transport optimization of LHD

Energy Technology Data Exchange (ETDEWEB)

Murakami, S.; Yamada, H.; Watanabe, K.Y. [National Inst. for Fusion Science, Toki, Gifu (Japan); Wakasa, A. [Hokkaido Univ., Graduate School of Engineering, Sapporo, Hokkaido (Japan); Maassberg, H.; Beidler, C.D. [Teilinstitut Greifswald, Max-Planck-Institut fuer Plasmaphysik, Greifswald (Germany)

2002-06-01

Neoclassical transport is studied for LHD configurations in which the magnetic axis has been shifted radially by determining the mono-energetic transport coefficient and the effective helical ripple. With respect to the transport in the long mean free path collisionality region - the so called 1/{nu} transport -, the optimum configuration is found when the magnetic axis has a major radius of 3.53m, which is 0.22m inward shifted from the standard'' configuration of LHD. In the optimized case, the effective helical ripple is very small, remaining below 2% inside 4/5 of the plasma radius. This indicates that a strong inward shift of the magnetic axis in the LHD can diminish the neoclassical transport to a level typical of so-called advanced stellarators''. (author)

Particle transport and fluctuation characteristics around neoclassically optimized configurations in LHD

International Nuclear Information System (INIS)

Tanaka, K.; Michael, C.; Vyacheslavov, L.N.

2008-01-01

Density profiles in LHD were measured and particle transport coefficients were estimated from density modulation experiments in LHD. The data set contains the wide region of discharge condition. The dataset of different magnetic axis, toroidal magnetic field and heating power provided data set of widely scanned neoclassical transport. At minimized neoclassical transport configuration in the dataset (Rax=3.5m, Bt=2.8T) showed peaked density profile. Its peaking factor increased gradually with decrease of collisional frequency. This is a similar result observed in tokamak data base. At other configuration, peaking factor reduced with decrease of collisional frequency. Data set showed that larger contribution of neoclassical transport produced hollowed density profile. Comparison between neoclassical and experimental estimated particle diffusivity showed different minimum condition. This suggests neoclassical optimization is not same as anomalous optimization. Clear difference of spatial profile of turbulence was observed between hollowed and peaked density profiles. Major part of fluctuation existed in the unstable region of linear growth rate of ion temperature gradient mode. (author)

Mode coupling trigger of neoclassical magnetohydrodynamic tearing modes in tokamaks

International Nuclear Information System (INIS)

Gianakon, T.A.; Hegna, C.C.; Callen, J.D.

1997-05-01

Numerical studies of the nonlinear evolution of coupled magnetohydrodynamic - type tearing modes in three-dimensional toroidal geometry with neoclassical effects are presented. The inclusion of neoclassical physics introduces an additional free-energy source for the nonlinear formation of magnetic islands through the effects of a bootstrap current in Ohm's law. The neoclassical tearing mode is demonstrated to be destabilized in plasmas which are otherwise Δ' stable, albeit once a threshold island width is exceeded. A possible mechanism for exceeding or eliminating this threshold condition is demonstrated based on mode coupling due to toroidicity with a pre-existing instability at the q = 1 surface

Neoclassical electron heat conduction in tokamaks performed by the ions

International Nuclear Information System (INIS)

Ware, A.A.

1987-07-01

The increment to neoclassical ion heat conduction caused by electron collisions is shown to act like electron heat conduction since the energy is taken from and given back to the electrons at each diffusion step length. It can exceed electron neoclassical heat conduction by an order of magnitude

Oil price volatility and the asymmetric response of gasoline prices to oil price increases and decreases

International Nuclear Information System (INIS)

Radchenko, S.

2005-01-01

This paper analyzes the effect of volatility in oil prices on the degree of asymmetry in the response of gasoline prices to oil price increases and decreases. Several time series measures of the asymmetry between the responses of gasoline prices to oil price increases and decreases and several measures of the oil price volatility are constructed. In all models, the degree of asymmetry in gasoline prices declines with an increase in oil price volatility. The results support the oligopolistic coordination theory as a likely explanation of the observed asymmetry and are not consistent with the standard search theory and the search theory with Bayesian updating. (author)

Neoclassical dissipation and resistive wall modes in tokamaks

International Nuclear Information System (INIS)

Shaing, K.C.

2004-01-01

It is shown that the critical toroidal plasma flow speed that is required to stabilize the resistive wall mode in tokamaks is reduced by a factor of the order of B/B θ or of 1.265ε 3sol4 B/B θ depending on the plasma parameters when the perturbed neoclassical viscosity driven current is taken into account. Here, B is the magnetic field strength, B θ is the poloidal magnetic field strength, and ε is the inverse aspect ratio. This effect is illustrated using an existing model for the resistive wall modes by including the neoclassical dissipation in the derivation of the dispersion relation. The derivation is based on fluid equations with the plasma viscosity, calculated using kinetic equation, as the closure. The reduction of the critical toroidal speed is a consequence of the parallel (to the magnetic field B) momentum equation when neoclassical viscosity becomes important. The results are compared with experimental observations in tokamaks

Neoclassical toroidal viscosity calculations in tokamaks using a δf Monte Carlo simulation and their verifications.

Science.gov (United States)

Satake, S; Park, J-K; Sugama, H; Kanno, R

2011-07-29

Neoclassical toroidal viscosities (NTVs) in tokamaks are investigated using a δf Monte Carlo simulation, and are successfully verified with a combined analytic theory over a wide range of collisionality. A Monte Carlo simulation has been required in the study of NTV since the complexities in guiding-center orbits of particles and their collisions cannot be fully investigated by any means of analytic theories alone. Results yielded the details of the complex NTV dependency on particle precessions and collisions, which were predicted roughly in a combined analytic theory. Both numerical and analytic methods can be utilized and extended based on these successful verifications.

Internal electron transport barrier due to neoclassical ambipolarity in the Helically Symmetric Experiment

International Nuclear Information System (INIS)

Lore, J.; Briesemeister, A.; Anderson, D. T.; Anderson, F. S. B.; Likin, K. M.; Talmadge, J. N.; Zhai, K.; Guttenfelder, W.; Deng, C. B.; Spong, D. A.

2010-01-01

Electron cyclotron heated plasmas in the Helically Symmetric Experiment (HSX) feature strongly peaked electron temperature profiles; central temperatures are 2.5 keV with 100 kW injected power. These measurements, coupled with neoclassical predictions of large 'electron root' radial electric fields with strong radial shear, are evidence of a neoclassically driven thermal transport barrier. Neoclassical transport quantities are calculated using the PENTA code [D. A. Spong, Phys. Plasmas 12, 056114 (2005)], in which momentum is conserved and parallel flow is included. Unlike a conventional stellarator, which exhibits strong flow damping in all directions on a flux surface, quasisymmetric stellarators are free to rotate in the direction of symmetry, and the effect of momentum conservation in neoclassical calculations may therefore be significant. Momentum conservation is shown to modify the neoclassical ion flux and ambipolar ion root radial electric fields in the quasisymmetric configuration. The effect is much smaller in a HSX configuration where the symmetry is spoiled. In addition to neoclassical transport, a model of trapped electron mode turbulence is used to calculate the turbulent-driven electron thermal diffusivity. Turbulent transport quenching due to the neoclassically predicted radial electric field profile is needed in predictive transport simulations to reproduce the peaking of the measured electron temperature profile [Guttenfelder et al., Phys. Rev. Lett. 101, 215002 (2008)].

Numerical study of neoclassical plasma pedestal in a tokamak geometry

International Nuclear Information System (INIS)

Chang, C.S.; Ku, Seunghoe; Weitzner, H.

2004-01-01

The fundamental properties of steep neoclassical plasma pedestals in a quiescent tokamak plasma have been investigated with a new guiding center particle code XGC: an X-point included Guiding Center code. It is shown that the width of the steepest neoclassical pedestals is similar to an experimentally observed edge pedestal width, and that a steep pedestal must be accompanied by a self-consistent negative radial electric field well. It is also shown that a steep neoclassical pedestal can form naturally at a quiescent diverted edge as the particle source from the neutral penetration (and heat flux from the core plasma) is balanced by the sharply increasing convective ion loss toward the separatrix. The steep neoclassical pedestal and the strong radial electric field well are suppressed by an anomalous diffusion coefficient of a strength appropriate to an L-mode state; nonetheless, the ExB shearing rate increases rapidly with pedestal temperature. Additionally, the present study shows that a steep pedestal at the diverted edge acts as a cocurrent parallel momentum source

Game theory approach to use of non-commercial power plants under time-of-use pricing

International Nuclear Information System (INIS)

Maeda, A.; Kaya, Y.

1992-01-01

There has been much research done on pricing theories for electric power utilities study. This paper employs the game theory approach for evaluating the impact of the introduction of customer owned NCP upon the pricing process when TOUP is used. We have derived various interesting results from this analysis some of which are; the conflict between NCP customers and the supplier forces the supplier to reduce the price for NCP customers, also perception of the situation in which they are involved plays an important role in this conflict. The game model analysis presented in this paper provides us detailed quantitative information on electricity prices and on the ways of using NCP

Neoclassical transport of energetic beam ions in the Large Helical Device

International Nuclear Information System (INIS)

Murakami, Sadayoshi; Yamada, Hiroshi; Kaneko, Osamu

2000-01-01

The neoclassical (collisional) transport of energetic ions is investigated by the global neoclassical transport simulation in the Large Helical Device (LHD). The steady state distributions of energetic ions are evaluated assuming an energetic particle source by NBI heating (tangentally injected). Significant radial transport of energetic ions can be seen due to the radial motion of trapped particles in the velocity region below near critical velocity. Our simulation results show relatively good agreements with the experimental results of fast particle measurements in the LHD. This suggests an important role of neoclassical transport in the radial transport process of energetic ions in heliotrons. (author)

Observation of neoclassical transport in reverse shear plasmas on the tokamak fusion test reactor

International Nuclear Information System (INIS)

Efthimion, P.C.; Goeler, S. von; Houlberg, W.A.

2001-01-01

Perturbative experiments on the Tokamak Fusion Test Reactor (TFTR) have investigated the transport of multiple ion species in reverse shear plasmas. The profile evolution of trace tritium and helium, and intrinsic carbon indicate the formation of core particle transport barriers in ERS plasmas. There is an order of magnitude reduction in the particle diffusivity inside the reverse shear region. The diffusivities for these species in ERS plasmas agree with neoclassical theory. (author)

Observation of neoclassical transport in reverse shear plasmas on the tokamak fusion test reactor

International Nuclear Information System (INIS)

Efthimion, P.C.; Von Goeler, S.; Houlberg, W.A.

1999-01-01

Perturbative experiments on the Tokamak Fusion Test Reactor (TFTR) have investigated the transport of multiple ion species in reverse shear plasmas. The profile evolution of trace tritium and helium, and intrinsic carbon indicate the formation of core particle transport barriers in ERS plasmas. There is an order of magnitude reduction in the particle diffusivity inside the reverse shear region. The diffusivities for these species in ERS plasmas agree with neoclassical theory. (author)

Linear neoclassical tearing mode in tokamaks

International Nuclear Information System (INIS)

Shaing, K. C.

2007-01-01

The growth rate of linear tearing modes in tokamaks is calculated including the neoclassical dissipation mechanism. It is found that when the growth rate is much smaller than the ion-ion collision frequency, the growth rate is reduced approximately by a factor of (B p /B) 2/5 from its standard value, and when the growth rate is much larger than the ion-ion collision frequency, the growth rate is reduced by a factor [√(ε)/(1.6q 2 )] 1/5 . Here, B p is the poloidal magnetic field strength, B is the magnetic field strength, ε is the inverse aspect ratio, and q is the safety factor. The width of the resistive layer is broadened when compared to that of the standard theory. In both limits, the growth rate and the resistive layer width only depend on B p and are independent of B. The growth rates in the plateau regime and for the inertia dominant modes are also presented

Theory of Financial Risk and Derivative Pricing - 2nd Edition

Science.gov (United States)

Bouchaud, Jean-Philippe; Potters, Marc

2003-12-01

Foreword; Preface; 1. Probability theory: basic notions; 2. Maximum and addition of random variables; 3. Continuous time limit, Ito calculus and path integrals; 4. Analysis of empirical data; 5. Financial products and financial markets; 6. Statistics of real prices: basic results; 7. Non-linear correlations and volatility fluctuations; 8. Skewness and price-volatility correlations; 9. Cross-correlations; 10. Risk measures; 11. Extreme correlations and variety; 12. Optimal portfolios; 13. Futures and options: fundamental concepts; 14. Options: hedging and residual risk; 15. Options: the role of drift and correlations; 16. Options: the Black and Scholes model; 17. Options: some more specific problems; 18. Options: minimum variance Monte-Carlo; 19. The yield curve; 20. Simple mechanisms for anomalous price statistics; Index of most important symbols; Index.

Rotation and neoclassical ripple transport in ITER

Science.gov (United States)

Paul, E. J.; Landreman, M.; Poli, F. M.; Spong, D. A.; Smith, H. M.; Dorland, W.

2017-11-01

Neoclassical transport in the presence of non-axisymmetric magnetic fields causes a toroidal torque known as neoclassical toroidal viscosity (NTV). The toroidal symmetry of ITER will be broken by the finite number of toroidal field coils and by test blanket modules (TBMs). The addition of ferritic inserts (FIs) will decrease the magnitude of the toroidal field ripple. 3D magnetic equilibria in the presence of toroidal field ripple and ferromagnetic structures are calculated for an ITER steady-state scenario using the variational moments equilibrium code (VMEC). Neoclassical transport quantities in the presence of these error fields are calculated using the stellarator Fokker-Planck iterative neoclassical conservative solver (SFINCS). These calculations fully account for E r , flux surface shaping, multiple species, magnitude of ripple, and collisionality rather than applying approximate analytic NTV formulae. As NTV is a complicated nonlinear function of E r , we study its behavior over a plausible range of E r . We estimate the toroidal flow, and hence E r , using a semi-analytic turbulent intrinsic rotation model and NUBEAM calculations of neutral beam torque. The NTV from the \\vert{n}\\vert = 18 ripple dominates that from lower n perturbations of the TBMs. With the inclusion of FIs, the magnitude of NTV torque is reduced by about 75% near the edge. We present comparisons of several models of tangential magnetic drifts, finding appreciable differences only for superbanana-plateau transport at small E r . We find the scaling of calculated NTV torque with ripple magnitude to indicate that ripple-trapping may be a significant mechanism for NTV in ITER. The computed NTV torque without ferritic components is comparable in magnitude to the NBI and intrinsic turbulent torques and will likely damp rotation, but the NTV torque is significantly reduced by the planned ferritic inserts.

A minimal collision operator for implementing neoclassical transport in gyrokinetic simulations

International Nuclear Information System (INIS)

Garbet, X.; Dif-Pradalier, G.; Nguyen, C.; Angelino, P.; Sarazin, Y.; Grandgirard, V.; Ghendrih, P.; Samain, A.

2008-01-01

This paper presents a class of collision operators, which reproduce neoclassical transport and comply with the constraints of a full-f global gyrokinetic code. The assessment of these operators is based on a variational entropy method, which allows a fast calculation of the neoclassical diffusivity and poloidal velocity.

The fiscal theory of the price level: a narrow theory for non-fiat money

OpenAIRE

Óscar J. Arce

2005-01-01

I examine the postulates of the Fiscal Theory of the Price Level (FTPL) under a nominal interest rate peg. First, I show that the usual definition of a non-Ricardian plan involves a number of government's non-credible policy commitments, thus confuting the interpretation of the FTPL as a policy-based equilibrium selection device. The main novelty of this criticism is that it is based on the same core assumptions maintained by this theory: there is a positive stock of governmentissued assets a...

The status of -o- or on the allomorphy of neo-classical compounds

NARCIS (Netherlands)

Hamans, C.; de la Cruz Cabanillas, I.; Tejedor Martínez, C.

2014-01-01

This paper aims at solving an old descriptive problem in dealing with neoclassical compounds: the status of the segment -o- which usually appears between the two elements of neoclassical compounds as in hamburgerology, buyology, bacteriology and epidemiology.

ON PRICE-MAKING CONTRACTS AND ECONOMIC THEORY: RETHINKING BERTRAND AND EDGEWORTH

OpenAIRE

Robert R. Routledge

2012-01-01

A problematic issue in economic theory is the study of price determination. Two distinct approaches to this difficult topic have been taken: (i) in Bertrand competition it is assumed sellers enter the market with a commitment to supply all demand forthcoming from buyers (ii) in Edgeworth competition sellers quote prices with no commitment to supply more than their competitive supply. Both these types of market contract struggle to provide credible pricemaking foundations for perfect competiti...

Improved method for calculating neoclassical transport coefficients in the banana regime

Energy Technology Data Exchange (ETDEWEB)

Taguchi, M., E-mail: taguchi.masayoshi@nihon-u.ac.jp [College of Industrial Technology, Nihon University, Narashino 275-8576 (Japan)

2014-05-15

The conventional neoclassical moment method in the banana regime is improved by increasing the accuracy of approximation to the linearized Fokker-Planck collision operator. This improved method is formulated for a multiple ion plasma in general tokamak equilibria. The explicit computation in a model magnetic field shows that the neoclassical transport coefficients can be accurately calculated in the full range of aspect ratio by the improved method. The some neoclassical transport coefficients for the intermediate aspect ratio are found to appreciably deviate from those obtained by the conventional moment method. The differences between the transport coefficients with these two methods are up to about 20%.

Effects of magnetic drift tangential to magnetic surfaces on neoclassical transport in non-axisymmetric plasmas

International Nuclear Information System (INIS)

Matsuoka, Seikichi; Satake, Shinsuke; Kanno, Ryutaro; Sugama, Hideo

2015-01-01

In evaluating neoclassical transport by radially local simulations, the magnetic drift tangential to a flux surface is usually ignored in order to keep the phase-space volume conservation. In this paper, effect of the tangential magnetic drift on the local neoclassical transport is investigated. To retain the effect of the tangential magnetic drift in the local treatment of neoclassical transport, a new local formulation for the drift kinetic simulation is developed. The compressibility of the phase-space volume caused by the tangential magnetic drift is regarded as a source term for the drift kinetic equation, which is solved by using a two-weight δf Monte Carlo method for non-Hamiltonian system [G. Hu and J. A. Krommes, Phys. Plasmas 1, 863 (1994)]. It is demonstrated that the effect of the drift is negligible for the neoclassical transport in tokamaks. In non-axisymmetric systems, however, the tangential magnetic drift substantially changes the dependence of the neoclassical transport on the radial electric field E r . The peaked behavior of the neoclassical radial fluxes around E r  =   0 observed in conventional local neoclassical transport simulations is removed by taking the tangential magnetic drift into account

Effects of magnetic drift tangential to magnetic surfaces on neoclassical transport in non-axisymmetric plasmas

Energy Technology Data Exchange (ETDEWEB)

Matsuoka, Seikichi, E-mail: matsuoka@rist.or.jp [Research Organization for Information Science and Technology, 6F Kimec-Center Build., 1-5-2 Minatojima-minamimachi, Chuo-ku, Kobe 650-0047 (Japan); Satake, Shinsuke; Kanno, Ryutaro [National Institute for Fusion Science, 322-6 Oroshi-cho, Toki 509-5292 (Japan); Department of Fusion Science, SOKENDAI (The Graduate University for Advanced Studies), 322-6 Oroshi-cho, Toki 509-5292 (Japan); Sugama, Hideo [National Institute for Fusion Science, 322-6 Oroshi-cho, Toki 509-5292 (Japan)

2015-07-15

In evaluating neoclassical transport by radially local simulations, the magnetic drift tangential to a flux surface is usually ignored in order to keep the phase-space volume conservation. In this paper, effect of the tangential magnetic drift on the local neoclassical transport is investigated. To retain the effect of the tangential magnetic drift in the local treatment of neoclassical transport, a new local formulation for the drift kinetic simulation is developed. The compressibility of the phase-space volume caused by the tangential magnetic drift is regarded as a source term for the drift kinetic equation, which is solved by using a two-weight δf Monte Carlo method for non-Hamiltonian system [G. Hu and J. A. Krommes, Phys. Plasmas 1, 863 (1994)]. It is demonstrated that the effect of the drift is negligible for the neoclassical transport in tokamaks. In non-axisymmetric systems, however, the tangential magnetic drift substantially changes the dependence of the neoclassical transport on the radial electric field E{sub r}. The peaked behavior of the neoclassical radial fluxes around E{sub r }={sub  }0 observed in conventional local neoclassical transport simulations is removed by taking the tangential magnetic drift into account.

Investment shocks and the relative price of investment

OpenAIRE

Justiniano, Alejandro; Primiceri, Giorgio E.; Tambalotti, Andrea

2009-01-01

We estimate a New-Neoclassical Synthesis model of the business cycle with two investment shocks. The first, an investment-specific technology shock, affects the transformation of consumption into investment goods and is identified with the relative price of investment. The second shock affects the production of installed capital from investment goods or, more broadly, the transformation of savings into future capital input. We find that this shock is the most important driver of U.S. business...

Lessons from game theory about healthcare system price inflation: evidence from a community-level case study.

Science.gov (United States)

Agee, Mark D; Gates, Zane

2013-02-01

Game theory is useful for identifying conditions under which individual stakeholders in a collective action problem interact in ways that are more cooperative and in the best interest of the collective. The literature applying game theory to healthcare markets predicts that when providers set prices for services autonomously and in a noncooperative fashion, the market will be susceptible to ongoing price inflation. We compare the traditional fee-for-service pricing framework with an alternative framework involving modified doctor, hospital and insurer pricing and incentive strategies. While the fee-for-service framework generally allows providers to set prices autonomously, the alternative framework constrains providers to interact more cooperatively. We use community-level provider and insurer data to compare provider and insurer costs and patient wellness under the traditional and modified pricing frameworks. The alternative pricing framework assumes (i) providers agree to manage all outpatient claims; (ii) the insurer agrees to manage all inpatient clams; and (iii) insurance premiums are tied to patients' healthy behaviours. Consistent with game theory predictions, the more cooperative alternative pricing framework benefits all parties by producing substantially lower administrative costs along with higher profit margins for the providers and the insurer. With insurance premiums tied to consumers' risk-reducing behaviours, the cost of insurance likewise decreases for both the consumer and the insurer.

Understanding Price Controls and Non-Price Competition with Matching Theory

OpenAIRE

Hatfield, John William; Plott, Charles R.; Tanaka, Tomomi

2012-01-01

We develop a quality competition model to understand how price controls affect market outcomes in buyer-seller markets with discrete goods of varying quality. While competitive equilibria do not necessarily exist in such markets when price controls are imposed, we show that stable outcomes do exist and characterize the set of stable outcomes in the presence of price restrictions. In particular, we show that price controls induce non-price competition: price floors induce the trade of ineffici...

Kinetic neoclassical calculations of impurity radiation profiles

Directory of Open Access Journals (Sweden)

D.P. Stotler

2017-08-01

Full Text Available Modifications of the drift-kinetic transport code XGC0 to include the transport, ionization, and recombination of individual charge states, as well as the associated radiation, are described. The code is first applied to a simulation of an NSTX H-mode discharge with carbon impurity to demonstrate the approach to coronal equilibrium. The effects of neoclassical phenomena on the radiated power profile are examined sequentially through the activation of individual physics modules in the code. Orbit squeezing and the neoclassical inward pinch result in increased radiation for temperatures above a few hundred eV and changes to the ratios of charge state emissions at a given electron temperature. Analogous simulations with a neon impurity yield qualitatively similar results.

Industrial Pricing: Theory and Managerial Practice

OpenAIRE

Peter M. Noble; Thomas S. Gruca

1999-01-01

We organize the existing theoretical pricing research into a new two-level framework for industrial goods pricing. The first level consists of four pricing situations: New Product, Competitive, Product Line, and Cost-based. The second level consists of the pricing strategies appropriate for a given situation. For example, within the new product pricing situation, there are three alternative pricing strategies: Skim, Penetration, and Experience Curve pricing. There are a total of ten pricing s...

Radially global δf computation of neoclassical phenomena in a tokamak pedestal

International Nuclear Information System (INIS)

Landreman, Matt; Parra, Felix I; Catto, Peter J; Ernst, Darin R; Pusztai, Istvan

2014-01-01

Conventional radially-local neoclassical calculations become inadequate if the radial gradient scale lengths of the H-mode pedestal become as small as the poloidal ion gyroradius. Here, we describe a radially global δf continuum code that generalizes neoclassical calculations to allow for stronger gradients. As with conventional neoclassical calculations, the formulation is time-independent and requires only the solution of a single sparse linear system. We demonstrate precise agreement with an asymptotic analytic solution of the radially global kinetic equation in the appropriate limits of aspect ratio and collisionality. This agreement depends crucially on accurate treatment of finite orbit width effects. (paper)

A new look at some basic concepts in arbitrage pricing theory

Institute of Scientific and Technical Information of China (English)

XIA; Jianming(夏建明); YAN; Jia'an(严加安)

2003-01-01

The notion of No Free Lunch with Vanishing Risk (or NFLVR in short) w.r.t. admissible strategies depends on the choice of numeraire. Yan introduced the notion of allowable strategy and showed that condition of NFLVR w.r.t. allowable strategies is independent of the choice of numeraire and is equivalent to the existence of an equivalent martingale measure for the deflated price process. In this paper we establish a version of the Kramkov's optional decomposition theorem in the setting of equivalent martingale measures. Based on this theorem, we have a new look at some basic concepts in arbitrage pricing theory: superhedging, fair price,attainable contingent claims, complete markets and etc.

Extended numerical modeling of impurity neoclassical transport in tokamak edge plasmas

International Nuclear Information System (INIS)

Inoue, H.; Yamoto, S.; Hatayama, A.; Homma, Y.

2016-01-01

Understanding of impurity transport in tokamaks is an important issue in order to reduce the impurity contamination in fusion core plasmas. Recently, a new kinetic numerical scheme of impurity classical/neoclassical transport has been developed. This numerical scheme makes it possible to include classical self-diffusion (CL SD), classical inward pinch (CL IWP), and classical temperature screening effect (CL TSE) of impurity ions. However, impurity neoclassical transport has been modeled only in the case where background plasmas are in the Pfirsch-Schluter (PS) regime. The purpose of this study is to extend our previous model to wider range of collisionality regimes, i.e., not only the PS regime, but also the plateau regime. As in the previous study, a kinetic model with Binary Collision Monte-Carlo Model (BMC) has been adopted. We focus on the modeling of the neoclassical self-diffusion (NC SD) and the neoclassical inward pinch (NC IWP). In order to simulate the neoclassical transport with the BCM, velocity distribution of background plasma ions has been modeled as a deformed Maxwell distribution which includes plasma density gradient. Some test simulations have been done. As for NC SD of impurity ions, our scheme reproduces the dependence on the collisionality parameter in wide range of collisionality regime. As for NC IWP, in cases where test impurity ions and background ions are in the PS and plateau regimes, parameter dependences have been reproduced. (copyright 2016 WILEY-VCH Verlag GmbH and Co. KGaA, Weinheim)

Extended numerical modeling of impurity neoclassical transport in tokamak edge plasmas

Energy Technology Data Exchange (ETDEWEB)

Inoue, H.; Yamoto, S.; Hatayama, A. [Graduate School of Science and Technology, Keio University, Hiyoshi, Yokohama (Japan); Homma, Y. [Graduate School of Science and Technology, Keio University, Hiyoshi, Yokohama (Japan); Research Fellow of Japan Society for the Promotion of Science, Tokyo (Japan)

2016-08-15

Understanding of impurity transport in tokamaks is an important issue in order to reduce the impurity contamination in fusion core plasmas. Recently, a new kinetic numerical scheme of impurity classical/neoclassical transport has been developed. This numerical scheme makes it possible to include classical self-diffusion (CL SD), classical inward pinch (CL IWP), and classical temperature screening effect (CL TSE) of impurity ions. However, impurity neoclassical transport has been modeled only in the case where background plasmas are in the Pfirsch-Schluter (PS) regime. The purpose of this study is to extend our previous model to wider range of collisionality regimes, i.e., not only the PS regime, but also the plateau regime. As in the previous study, a kinetic model with Binary Collision Monte-Carlo Model (BMC) has been adopted. We focus on the modeling of the neoclassical self-diffusion (NC SD) and the neoclassical inward pinch (NC IWP). In order to simulate the neoclassical transport with the BCM, velocity distribution of background plasma ions has been modeled as a deformed Maxwell distribution which includes plasma density gradient. Some test simulations have been done. As for NC SD of impurity ions, our scheme reproduces the dependence on the collisionality parameter in wide range of collisionality regime. As for NC IWP, in cases where test impurity ions and background ions are in the PS and plateau regimes, parameter dependences have been reproduced. (copyright 2016 WILEY-VCH Verlag GmbH and Co. KGaA, Weinheim)

Tuition Fees, as User Prices, and Private Incentives

OpenAIRE

Economides, George; Philippopoulos, Apostolis; Sakkas, Stelios

2016-01-01

This paper studies the aggregate and distributional implications of introducing tuition fees for public education services into a tax system with income and consumption taxes. The setup is a neoclassical growth model where agents differ in capital holdings. We show that the introduction of tuition fees (a) improves individual incentives to work and/or save and (b) can be both efficient and equitable. The focus is on the role of tuition fees as an extra price and how this affects private incen...

Asymmetry of neoclassical transport by dipole electric field

International Nuclear Information System (INIS)

Wang Zhongtian; Wang Long

2004-01-01

Effects of dipole electric fields on neoclassical transport are studied. Large asymmetry in transport is created. The dipole fields, which are in a negative R-direction, reduce the ion drift, increase electron drift, and change the steps of excursion due to collisions. It is found that different levels of dipole field intensities have different types of transport. For the lowest level of the dipole field, the transport returns to the neoclassical one. For the highest level of the dipole field, the transport is turned to be the turbulence transport similar to the pseudo-classical transport. Experimental data may be corresponded to a large level of the dipole field intensity. (authors)

Self-consistent gyrokinetic modeling of neoclassical and turbulent impurity transport

OpenAIRE

Estève , D. ,; Sarazin , Y.; Garbet , X.; Grandgirard , V.; Breton , S. ,; Donnel , P. ,; Asahi , Y. ,; Bourdelle , C.; Dif-Pradalier , G; Ehrlacher , C.; Emeriau , C.; Ghendrih , Ph; Gillot , C.; Latu , G.; Passeron , C.

2018-01-01

International audience; Trace impurity transport is studied with the flux-driven gyrokinetic GYSELA code [V. Grandgirard et al., Comp. Phys. Commun. 207, 35 (2016)]. A reduced and linearized multi-species collision operator has been recently implemented, so that both neoclassical and turbulent transport channels can be treated self-consistently on an equal footing. In the Pfirsch-Schlüter regime likely relevant for tungsten, the standard expression of the neoclassical impurity flux is shown t...

Effect of neoclassical toroidal viscosity on error-field penetration thresholds in tokamak plasmas.

Science.gov (United States)

Cole, A J; Hegna, C C; Callen, J D

2007-08-10

A model for field-error penetration is developed that includes nonresonant as well as the usual resonant field-error effects. The nonresonant components cause a neoclassical toroidal viscous torque that keeps the plasma rotating at a rate comparable to the ion diamagnetic frequency. The new theory is used to examine resonant error-field penetration threshold scaling in Ohmic tokamak plasmas. Compared to previous theoretical results, we find the plasma is less susceptible to error-field penetration and locking, by a factor that depends on the nonresonant error-field amplitude.

A game theory model for stabilizing price of chili: A case study

Science.gov (United States)

Wardayanti, Ari; Aviv, Afgan Suffan; Sutopo, Wahyudi; Hisjam, Muh.

2017-11-01

Chili is one of the important agricultural commodity in Indonesia because of its widely consumption by the Indonesian. Chili becomes one of the commodities that experience price fluctuations and important cause of yearly inflation in Indonesia. The unstable price of chili is affected by the scarcity of the commodity in some months and the difference of the harvest season. This study proposes a model to solve the problem by considering the substitution of fresh chilies with dried chili. We propose the cooperative of chili's farmer as entities that process fresh chili into dry ones. The existence of substitution products is expected to maintain the price stability chili. This research was conducted by taking a case study on chili commodity markets in Surakarta which consists of 19 traditional markets. This study aims to create a price stabilization scheme with product substitution using a game theory model. There are 4 strategies proposed in game theory model to describe the relationship between producers and consumers. In this case, the producers are the farmers and the consumers are the trade market. A mixed strategy of was chosen to determine the optimal value among 4 strategies. From the calculation results obtained optimal value when doing a mixed strategy of IDR 201,188,829,000.

Clarifying and Teaching Bohm-Bawerk's "Marginal Pairs."

Science.gov (United States)

Egger, John B.

1998-01-01

Briefly defines and provides some background on Eugen von Bohm-Bawerk's "marginal pairs" theory of pricing. Asserts that Bohm-Bawerk's theory is a good introduction to the Austrian school of economics and illustrates the differences between this approach and neoclassical economic theory. Includes several graphs and tables of data. (MJP)

δf simulation of ion neoclassical transport

International Nuclear Information System (INIS)

Wang, W.; Nakajima, N.; Okamoto, M.; Murakami, S.

1999-07-01

Ion neoclassical transport with finite orbit width dynamics is calculated over whole poloidal cross section by using accurate δf method which employs an improved like-particle collision operator and an accurate weighting scheme to solve drift kinetic equation. Ion thermal transport near magnetic axis shows a great reduction from its conventional neoclassical level due to non-standard orbit topology, like that of previous δf simulation. On other hand, the direct particle loss from confinement region may strongly increase ion energy transport near the edge. It is found that ion parallel flow near the axis is also largely reduced due to non-standard orbit topology. In the presence of steep density gradient, ion thermal conductivity is significantly reduced, and an ion particle flux is driven by self-collision alone. (author)

Neoclassical theory of transport processes in toroidal magnetic confinement systems, with emphasis on non-axisymmetric configurations

International Nuclear Information System (INIS)

Kovrizhnykh, L.M.

1984-01-01

The paper constitutes a review of the neoclassical theory of transport processes in the different types of toroidal magnetic configuration now being used to study the possibility of producing a controlled thermonuclear reaction. Owing to the abundance of the material that has accumulated in recent years and the large number of parameters involved in the problem, it has not been possible to present all the mathematical calculations in detail while confining the results to a few definitive expressions. The general approach to a solution of the problem and its key aspects have been discussed as fully as possible, and a number of definitive results are presented. In the review, a history of the subject and an account of its present status are given, the problem itself is formulated, the basic equations are discussed and analytical solution methods are described. Definitive expressions are given for cross-field particle and energy fluxes, the bootstrap current and conductivity, all of which are required to solve the particle and heat balance equations in magnetic confinement devices. The results are presented in a relatively simple form which is convenient for analysis of the experimental data and are accompanied by tables containing numerical values for the universal coefficients in the definitive expressions. The review is aimed at both theoreticians and experimenters working in high-temperature plasma physics and controlled thermonuclear fusion. (author)

History of consumer demand theory 1871-1971: A Neo-Kantian rational reconstruction

OpenAIRE

Moscati Ivan

2007-01-01

This paper examines the history of the neoclassical theory of consumer demand from 1871 to 1971 by bringing into play the knowledge theory of the Marburg School, a Neo-Kantian philosophical movement. The work aims to show the usefulness of a Marburg-inspired epistemology in rationalizing the development of consumer analysis and, more generally, to understand the principles that regulate the process of knowing in neoclassical economics.

History of consumer demand theory 1871-1971: A Neo-Kantian rational reconstruction

OpenAIRE

Ivan Moscati

2005-01-01

This paper examines the history of the neoclassical theory of consumer demand from 1871 to 1971 by bringing into play the knowledge theory of the Marburg School, a Neo-Kantian philosophical movement. The work aims to show the usefulness of a Marburg-inspired epistemology in rationalizing the development of consumer analysis and, more generally, to understand the principles that regulate the process of knowing in neoclassical economics.

SCIENCE WHERE CULTURE MATTERS: A NEO-CLASSICAL ...

Indian Academy of Sciences (India)

SCIENCE WHERE CULTURE MATTERS: A NEO-CLASSICAL APPROACH TO EXPLORE UNTAPPED BACTERIAL DIVERSITY. MILIND WATVE; Dept of Microbiology, Abasaheb Garware College, Pune. www.culturematters.org; * Life Research Foundation, Pune; * Evolvus Biotech Pvt. Ltd.,Pune ...

Validation of neoclassical bootstrap current models in the edge of an H-mode plasma.

Science.gov (United States)

Wade, M R; Murakami, M; Politzer, P A

2004-06-11

Analysis of the parallel electric field E(parallel) evolution following an L-H transition in the DIII-D tokamak indicates the generation of a large negative pulse near the edge which propagates inward, indicative of the generation of a noninductive edge current. Modeling indicates that the observed E(parallel) evolution is consistent with a narrow current density peak generated in the plasma edge. Very good quantitative agreement is found between the measured E(parallel) evolution and that expected from neoclassical theory predictions of the bootstrap current.

A Game Theory Analysis of the OPEC's Influence on World Oil Price

Institute of Scientific and Technical Information of China (English)

无

2006-01-01

Most studies concerning OPEC's behavior were based on traditional market microstructure. However, the assumptions about oil market structure are either very rigorous or rather fuzzy. This paper demonstrates the rationality and necessity of OPEC's price band policy by using the game theory. We conclude that OPEC has the incentive to limit its price within a specific range if the game period is sufficiently long. This incentive comes either from preference for long-term interest or from future expectations. In such a way, OPEC tries its best to maximize its profit with the quotaprice dual policy and plays a price stabilizing role in the future world oil market.

Kinetic energy principle and neoclassical toroidal torque in tokamaks

International Nuclear Information System (INIS)

Park, Jong-Kyu

2011-01-01

It is shown that when tokamaks are perturbed, the kinetic energy principle is closely related to the neoclassical toroidal torque by the action invariance of particles. Especially when tokamaks are perturbed from scalar pressure equilibria, the imaginary part of the potential energy in the kinetic energy principle is equivalent to the toroidal torque by the neoclassical toroidal viscosity. A unified description therefore should be made for both physics. It is also shown in this case that the potential energy operator can be self-adjoint and thus the stability calculation can be simplified by minimizing the potential energy.

Increasing the beta limit due to neoclassical tearing modes by raising the axial safety factor q(0) > 1

International Nuclear Information System (INIS)

La Haye, R.J.; Strait, E.J.; Rice, B.W.

2000-01-01

Resistive neoclassical tearing modes (NTMs) can cause the stable beta value in long pulse, high confinement plasmas to fall significantly below that predicted by ideal theory. The NTM islands which degrade confinement and limit beta are induced and sustained by helically perturbed bootstrap currents. A combination of shaping and q-profile modification is used in the DIII-D tokamak to increase this beta limit. (author)

OPEC's production under fluctuating oil prices. Further test of the target revenue theory

International Nuclear Information System (INIS)

Ramcharran, H.

2001-01-01

Oil production cutbacks in recent years by OPEC members to stabilize price and to increase revenues warrant further empirical verification of the target revenue theory (TRT). We estimate a modified version of Griffin (1985) target revenue model using data from 1973 to 2000. The sample period, unlike previous investigations, includes phases of both price increase (1970s) and price decrease (1980s-1990s), thus providing a better framework for examining production behavior. The results, like the earlier study, are not supportive of the strict version of the TRT, however, evidence (negative and significant elasticity of supply) of the partial version are substantiated. Further empirical estimates do not support the competitive pricing model, hypothesizing a positive elasticity of supply. OPEC's loss of market share and the drop in the share of oil-based energy should signal an adjustment in pricing and production strategies

Neoclassical transport, poloidal rotation and radial electric field at the L-H transition

International Nuclear Information System (INIS)

Minardi, E.; Gervasini, G.; Lazzaro, E.

1993-01-01

The transition to a high confinement regime in tokamaks operating with a magnetic divertor configuration is accompanied by the strong steepening of the edge temperature profile and the onset of a large positive poloidal mass rotation associated with a negative radial electric field. The latter phenomena are signatures of a neoclassical transport mechanism. We address the question of establishing whether neoclassical transport is indeed sufficient to establish high edge gradients and drive poloidal rotation under strong auxiliary heating. The heat transport equation is solved numerically in a narrow edge layer interfaced to the plasma body through heat flux continuity, but allowing for heat conductivity discontinuity. The results compared with recent experimental measurements support the assumption that a highly sheared neoclassical poloidal velocity profile can suppress the anomalous part of the heat transport, and that the neoclassical residual transport, characterizes the plasma behaviour at the edge during H modes. (author) 3 refs., 4 figs

Effect of the poloidal current from the classical diffusion in the steady-state neo-classical transport

International Nuclear Information System (INIS)

Igna Junior, A.D.

1984-01-01

The relevant parameters of two steady-state models of a plasma column, in fusion regime, were analyzed for an ideal Tokamak. The neo-classical transport theory was considered in the banana regime and in the Pfirsch-Schlueter regime. The first model proposes a correction in the numerical coefficients of the transport equations. In the other one, a poloidal current from Pfirsch-Schlueter classical diffusion is considered aiming to satisfy the pressure balance. (M.C.K.) [pt

Becker's rational addiction theory: An empirical test with price elasticities for distilled spirits in Denmark 1911-31.

Science.gov (United States)

Skog, Ole-Jørgen; Melberg, Hans Olav

2006-10-01

To test an implication of Becker's rational addiction theory, namely that price changes will lead both to simultaneous consumption changes as well as lagged changes (and potentially also immediate changes if future changes in prices are anticipated). Time-series analysis, first of aggregate sales of distilled spirits and prices, controlled for gross national product (GNP), and secondly of deaths from delirium tremens. Denmark 1911-31. Price changes were very large in the period 1916-18 due to shortages during World War I, and the Danish case can be conceived as a natural experiment. No evidence for lagged price effects in the expected direction was found. On the contrary, the evidence pointed in the opposite direction. The immediate reduction in sales following rising prices are, to some degree, counteracted by an adjustment in the opposite direction the following year. The delirium tremens data confirm this pattern. Becker's theory is not confirmed. Several possible explanations are discussed. If the pattern observed in these data is representative of a more general mechanism, current price elasticity estimates may be too high, by ignoring lagged compensatory effects.

Effect of magnetic axis shift on neoclassical transport in helical torus

International Nuclear Information System (INIS)

Sanuki, Heiji; Todoroki, Jiro

2004-01-01

Neoclassical transport for large helical device (LHD) configurations is studied by solving the bounce-averaged Fokker-Planck equation. Numerical code employed in the present paper (CHD1) is much faster and more efficient than existing transport codes. Effects of the magnetic axis shift on the mono-energetic transport coefficients are studied in detail for the LHD configurations, revealing that a strong inward shift of the magnetic axis can reduce remarkably the neoclassical ripple transport. (author)

EVT in electricity price modeling : extreme value theory not only on the extreme events

International Nuclear Information System (INIS)

Marossy, Z.

2007-01-01

The extreme value theory (EVT) is commonly used in electricity and financial risk modeling. In this study, EVT was used to model the distribution of electricity prices. The model was built on the price formation in electricity auction markets. This paper reviewed the 3 main modeling approaches used to describe the distribution of electricity prices. The first approach is based on a stochastic model of the electricity price time series and uses this stochastic model to generate the given distribution. The second approach involves electricity supply and demand factors that determine the price distribution. The third approach involves agent-based models which use simulation techniques to write down the price distribution. A fourth modeling approach was then proposed to describe the distribution of electricity prices. The new approach determines the distribution of electricity prices directly without knowing anything about the data generating process or market driving forces. Empirical data confirmed that the distribution of electricity prices have a generalized extreme value (GEV) distribution. 8 refs., 2 tabs., 5 figs

Considerations from the viewpoint of neoclassical transport towards higher ion temperature heliotron plasmas

International Nuclear Information System (INIS)

Yokoyama, M.; Matsuoka, S.; Funaba, H.; Ida, K.; Nagaoka, K.; Yoshinuma, M.; Takeiri, Y.; Kaneko, O.

2010-01-01

The neoclassical (NC) transport analyses have been performed to elucidate the plausible approaches towards higher ion-temperature heliotron plasmas. Avoidance of the ripple transport is the key issue, for which the neoclassical ambipolar radial electric field (E r ) can be utilized. The ion-root scenario and the electron-root scenario are expected to be effective according to the experimental situation (especially, the temperature ratio between ions and electrons). The impact of the ion mass on the neoclassical ambipolar E r is also investigated to reveal the easier realization of electron-root E r in heavier ion plasmas. (copyright 2010 WILEY-VCH Verlag GmbH and Co. KGaA, Weinheim) (orig.)

Kinetic neoclassical transport in the H-mode pedestal

Energy Technology Data Exchange (ETDEWEB)

Battaglia, D. J.; Chang, C. S.; Ku, S.; Grierson, B. A. [Princeton Plasma Physics Laboratory, P.O. Box 451, Princeton, New Jersey 08540 (United States); Burrell, K. H.; Grassie, J. S. de [General Atomics, P.O. Box 85608, San Diego, California 92186-5608 (United States)

2014-07-15

Multi-species kinetic neoclassical transport through the QH-mode pedestal and scrape-off layer on DIII-D is calculated using XGC0, a 5D full-f particle-in-cell drift-kinetic solver with self-consistent neutral recycling and sheath potentials. Quantitative agreement between the flux-driven simulation and the experimental electron density, impurity density, and orthogonal measurements of impurity temperature and flow profiles is achieved by adding random-walk particle diffusion to the guiding-center drift motion. The radial electric field (E{sub r}) that maintains ambipolar transport across flux surfaces and to the wall is computed self-consistently on closed and open magnetic field lines and is in excellent agreement with experiment. The E{sub r} inside the separatrix is the unique solution that balances the outward flux of thermal tail deuterium ions against the outward neoclassical electron flux and inward pinch of impurity and colder deuterium ions. Particle transport in the pedestal is primarily due to anomalous transport, while the ion heat and momentum transport are primarily due to the neoclassical transport. The full-f treatment quantifies the non-Maxwellian energy distributions that describe a number of experimental observations in low-collisionallity pedestals on DIII-D, including intrinsic co-I{sub p} parallel flows in the pedestal, ion temperature anisotropy, and large impurity temperatures in the scrape-off layer.

A critical approach to neoclassic monetarism

Directory of Open Access Journals (Sweden)

Yoandris Sierra Lara

2014-08-01

Full Text Available This article is aimed at assessing the current universal economic thought called Monetarism, especially in its neo-classic variant, represented by US economist Milton Friedman. The paper focuses on the analysis of the historical context that leads Monetarism to become a dominant doctrine, its main methodological features and the notions regarding inflation as a macroeconomic imbalance.

Moment approach to neoclassical flows, currents and transport in auxiliary heated tokamaks

International Nuclear Information System (INIS)

Kim, Yil Bong.

1988-02-01

The moment approach is utilized to derive the full complement of neoclassical transport processes in auxiliary heated tokamaks. The effects of auxiliary heating [neutral beam injection (NBI) and ion cyclotron resonance heating (ICRH)] considered arise from the collisional interaction between the background plasma species and the fast-ion-tail species. From a known fast ion distribution function we evaluate the parallel (to the magnetic field) momentum and heat flow inputs to the background plasma. Then, through the momentum and heat flow balance equations, we can determine the induced parallel flows (and current) and radial transpot fluxes in ''equilibrium'' (on the time scale much longer than the collisional relaxation time, i.e., t >> 1ν/sub ii/). In addition to the fast-ion-induced current, the total neoclassical current includes the boostap current, which is driven by the pressure and temperature gradients, the Pfirsch-Schlueter current which is required for charge neutrality, and the neoclassical (including trapped particle effects) Spitzer current due to the parallel electric field. The radial transport fluxes also include off-diagonal compnents in the transport matrix which correspond to the Ware (neoclassical) pinch due to the inductive applied electric field an the fast-ion-induced radial fluxes, in addition to the usual pressure- and temperature-gradient-driven fluxes (particle diffusion and heat conduction). Once the tranport coefficient are completely determined, the radial fluxes and the heat fluxes can be substituted into the density and energy evolution equations to provide a complete description of ''equilibrium'' (δδt << ν/sub ii/) neoclassical transport processes in a plasma. 47 refs., 14 figs

SCIENCE WHERE CULTURE MATTERS: A NEO-CLASSICAL ...

Indian Academy of Sciences (India)

Table of contents. SCIENCE WHERE CULTURE MATTERS: A NEO-CLASSICAL APPROACH TO EXPLORE UNTAPPED BACTERIAL DIVERSITY · UNDER GRADUATE RESEARCH An alternative model of doing science · THE EXPANSE OF LIFE · HOW MANY SP. OF BACTERIA IN 1 g SOIL? TORSVIK ET AL 1990.

Neoclassical and anomalous transport in toroidal plasmas with drift-ordered turbulence

International Nuclear Information System (INIS)

Sugama, H.; Horton, W.

1996-01-01

Neoclassical and anomalous transport fluxes are determined for axisymmetric toroidal plasmas with weak electromagnetic drift wave fluctuations. The neoclassical and anomalous fluxes are defined based on the ensemble-averaged kinetic equation with the statistically averaged nonlinear wave-particle interactions. The anomalous forces derived from that quasilinear term induce the anomalous particle and heat fluxes. For the microscale fluctuations k perpendicular ρ i ∼ 1 the parallel neoclassical fluxes remain invariant. For mesoscale fluctuations the mixing length fluctuation level with broken symmetry from (weak) shear flows the neoclassical banana-plateau fluxes are affected by the fluctuations through the parallel anomalous forces and the modified parallel viscosities. The entropy production rate due to the anomalous transport processes is formulated and used to identify conjugate pairs of the anomalous fluxes and forces, which are connected by the matrix with the Onsager symmetry. The proof of the Onsager symmetry is carried out by splitting the response function up into the even and odd parts under the (t, B) → (-t,-B) transformation and using the self-adjointness of the linearized Landau collision operator and the quasilinear formalism. An explicit calculation of the symmetric transport coefficients is possible when the Krook collision model replaces the Landau collision operator. The importance of low aspect ratio tokamaks and helical systems for experimental investigations of the Onsager symmetries is emphasized

Effect of nonlinear energy transport on neoclassical tearing mode stability in tokamak plasmas

Science.gov (United States)

Fitzpatrick, Richard

2017-05-01

An investigation is made into the effect of the reduction in anomalous perpendicular electron heat transport inside the separatrix of a magnetic island chain associated with a neoclassical tearing mode in a tokamak plasma, due to the flattening of the electron temperature profile in this region, on the overall stability of the mode. The onset of the neoclassical tearing mode is governed by the ratio of the divergences of the parallel and perpendicular electron heat fluxes in the vicinity of the island chain. By increasing the degree of transport reduction, the onset of the mode, as the divergence ratio is gradually increased, can be made more and more abrupt. Eventually, when the degree of transport reduction passes a certain critical value, the onset of the neoclassical tearing mode becomes discontinuous. In other words, when some critical value of the divergence ratio is reached, there is a sudden bifurcation to a branch of neoclassical tearing mode solutions. Moreover, once this bifurcation has been triggered, the divergence ratio must be reduced by a substantial factor to trigger the inverse bifurcation.

A queueing theory description of fat-tailed price returns in imperfect financial markets

Science.gov (United States)

Lamba, H.

2010-09-01

In a financial market, for agents with long investment horizons or at times of severe market stress, it is often changes in the asset price that act as the trigger for transactions or shifts in investment position. This suggests the use of price thresholds to simulate agent behavior over much longer timescales than are currently used in models of order-books. We show that many phenomena, routinely ignored in efficient market theory, can be systematically introduced into an otherwise efficient market, resulting in models that robustly replicate the most important stylized facts. We then demonstrate a close link between such threshold models and queueing theory, with large price changes corresponding to the busy periods of a single-server queue. The distribution of the busy periods is known to have excess kurtosis and non-exponential decay under various assumptions on the queue parameters. Such an approach may prove useful in the development of mathematical models for rapid deleveraging and panics in financial markets, and the stress-testing of financial institutions.

Neoclassical offset toroidal velocity and auxiliary ion heating in tokamaks

Energy Technology Data Exchange (ETDEWEB)

Lazzaro, E., E-mail: lazzaro@ifp.cnr.it [Istituto di Fisica del Plasma CNR (Italy)

2016-05-15

In conditions of ideal axisymmetry, for a magnetized plasma in a generic bounded domain, necessarily toroidal, the uniform absorption of external energy (e.g., RF or any isotropic auxiliary heating) cannot give rise to net forces or torques. Experimental evidence on contemporary tokamaks shows that the near central absorption of RF heating power (ICH and ECH) and current drive in presence of MHD activity drives a bulk plasma rotation in the co-I{sub p} direction, opposite to the initial one. Also the appearance of classical or neoclassical tearing modes provides a nonlinear magnetic braking that tends to clamp the rotation profile at the q-rational surfaces. The physical origin of the torque associated with P{sub RF} absorption could be due the effects of asymmetry in the equilibrium configuration or in power deposition, but here we point out also an effect of the response of the so-called neoclassical offset velocity to the power dependent heat flow increment. The neoclassical toroidal viscosity due to internal magnetic kink or tearing modes tends to relax the plasma rotation to this asymptotic speed, which in absence of auxiliary heating is of the order of the ion diamagnetic velocity. It can be shown by kinetic and fluid calculations, that the absorption of auxiliary power by ions modifies this offset proportionally to the injected power thereby forcing the plasma rotation in a direction opposite to the initial, to large values. The problem is discussed in the frame of the theoretical models of neoclassical toroidal viscosity.

Curvature effect on tearing modes in presence of neoclassical friction

Energy Technology Data Exchange (ETDEWEB)

Maget, Patrick; Mellet, Nicolas; Meshcheriakov, Dmytro; Garbet, Xavier [CEA, IRFM, F-13108 Saint Paul-lez-Durance (France); Lütjens, Hinrich [Centre de Physique Théorique, Ecole Polytechnique, CNRS (France)

2013-11-15

Neoclassical physics (here associated to the poloidal variation of the magnetic field strength along field lines in a tokamak) is well known for driving self-generated plasma current and nonlinear magnetic islands associated to it in high performance, ITER relevant plasma discharges. It is demonstrated that the neoclassical friction between a magnetic perturbation and plasma flow already impacts magnetic islands in the linear regime, by inducing a weakening of curvature stabilization for tearing modes. This conclusion holds in particular for regimes where convection is influencing the pressure dynamics, as shown using a simple analytical model and confirmed in full Magneto-Hydro-Dynamics simulations.

Neoclassical transport coefficients for tokamaks with bean-shaped flux surfaces

International Nuclear Information System (INIS)

Chang, C.S.; Kaye, S.M.

1990-11-01

Simple analytic representations of the neoclassical transport coefficients for indented flux surfaces are presented. It is shown that a transport coefficient for an indented flux surface can be expressed in terms of a linear combination of the previously known transport coefficients for two nonindented flux surfaces. Numerical calculations based on actual equilibria from the PBX-M tokamak indicate that, even for modestly indented flux surfaces, the ion neoclassical thermal transport can be over a factor of two smaller than in a circular plasma with the same midplane radius or with the equivalent areas. 6 refs., 5 figs., 1 tab

Neoclassical and anomalous transport in axisymmetric toroidal plasmas with electrostatic turbulence

International Nuclear Information System (INIS)

Sugama, H.; Horton, W.

1995-01-01

Neoclassical and anomalous transport fluxes are determined for axisymmetric toroidal plasmas with weak electrostatic fluctuations. The neoclassical and anomalous fluxes are defined based on the ensemble-averaged kinetic equation with the statistically averaged nonlinear term. The anomalous forces derived from that quasilinear term induce the anomalous particle and heat fluxes. The neoclassical banana-plateau particle and heat fluxes and the bootstrap current are also affected by the fluctuations through the parallel anomalous forces and the modified parallel viscosities. The quasilinear term, the anomalous forces, and the anomalous particle and heat fluxes are evaluated from the fluctuating part of the drift kinetic equation. The averaged drift kinetic equation with the quasilinear term is solved for the plateau regime to derive the parallel viscosities modified by the fluctuations. The entropy production rate due to the anomalous transport processes is formulated and used to identify conjugate pairs of the anomalous fluxes and forces, which are connected by the matrix with the Onsager symmetry. copyright 1995 American Institute of Physics

Neoclassical Diffusion of Radiation-Belt Electrons Across Very Low L-Shells

Science.gov (United States)

Cunningham, Gregory S.; Loridan, Vivien; Ripoll, Jean-François; Schulz, Michael

2018-04-01

In the presence of drift-shell splitting intrinsic to the International Geomagnetic Reference Field magnetic field model, pitch angle scattering from Coulomb collisions experienced by radiation-belt electrons in the upper atmosphere and ionosphere produces extra radial diffusion, a form of neoclassical diffusion. The strength of the neoclassical radial diffusion at L nuclear detonation. The data show apparent lifetimes 10-100 times as long as would have been expected from collisional pitch angle diffusion and Coulomb drag alone. Our model reproduces apparent lifetimes for >0.5-MeV electrons in the region 1.14 < L < 1.26 to within a factor of 2 (comparable to the uncertainty quoted for the observations). We conclude that neoclassical radial diffusion (resulting from drift-shell splitting intrinsic to International Geomagnetic Reference Field's azimuthal asymmetries) mitigates the decay expected from collisional pitch angle diffusion and inelastic energy loss alone and thus contributes importantly to the long apparent lifetimes observed at these low L-shells.

Neoclassical and anomalous transport in axisymmetric toroidal plasmas with electrostatic turbulence

International Nuclear Information System (INIS)

Sugama, H.; Horton, W.

1995-05-01

Neoclassical and anomalous transport fluxes are determined for axisymmetric toroidal plasmas with weak electrostatic fluctuations. The neoclassical and anomalous fluxes are defined based on the ensemble-averaged kinetic equation with the statistically averaged nonlinear term. The anomalous forces derived from that quasilinear term induce the anomalous particle and heat fluxes. The neoclassical banana-plateau particle and heat fluxes and the bootstrap current are also affected by the fluctuations through the parallel anomalous forces and the modified parallel viscosities. The quasilinear term, the anomalous forces, and the anomalous particle and heat fluxes are evaluated from the fluctuating part of the drift kinetic equation. The averaged drift kinetic equation with the quasilinear term is solved for the plateau regime to derive the parallel viscosities modified by the fluctuations. The entropy production rate due to the anomalous transport processes is formulated and used to identify conjugate pairs of the anomalous fluxes and forces, which are connected by the matrix with the Onsager symmetry. (author)

Monte Carlo estimation of neoclassical transport for the TJ-II stellarator

International Nuclear Information System (INIS)

Tribaldos, V.

2001-01-01

The neoclassical transport properties of TJ-II stellarator [C. Alejaldre et al., Fusion Technol. 13, 521 (1988)] are studied with the monoenergetic Monte Carlo technique. A compromise between the number of modes and particles and the required computing time to obtain reliable estimates, from the computational point of view, of the monoenergetic diffusion coefficients is shown to be of one thousand particles and one hundred harmonics, because of the rich magnetic-field structure of TJ-II. Although, these requirements are probably too demanding in making the transport estimations. The data base containing the normalized monoenergetic diffusion coefficient for several radial positions, radial electric fields and collisionalities have been fitted using a neural network. This fit reduces the number of points necessary in the data base and allows a smooth interpolation and extrapolation to perform the convolutions of the monoenergetic coefficients with the Maxwellian. For two different typical TJ-II discharges the ambipolar radial electric field, and the neoclassical particle and heat fluxes are presented both showing rather large positive radial electric fields at the plasma core and small negative fields at the edge. The neoclassical particle and energy confinement time are in surprisingly good agreement with the experimental energy balance analysis and the international stellarator scaling. Although no satisfactory explanation is available yet the large neoclassical diffusion caused by the complex ripple structure of TJ-II magnetic field may be an important ingredient

Asset Pricing - A Brief Review

OpenAIRE

Li, Minqiang

2010-01-01

I first introduce the early-stage and modern classical asset pricing and portfolio theories. These include: the capital asset pricing model (CAPM), the arbitrage pricing theory (APT), the consumption capital asset pricing model (CCAPM), the intertemporal capital asset pricing model (ICAPM), and some other important modern concepts and techniques. Finally, I discuss the most recent development during the last decade and the outlook in the field of asset pricing.

Why do we price electricity the way we do? Canadian policy in the light of political-economic theories of governmental behaviour

International Nuclear Information System (INIS)

Cairns, R.D.; Heyes, A.G.

1993-01-01

In the past few decades, Canadian crown electrical utilities have exhausted available economies of scale. At marginal cost prices, the utilities could recover costs and even a rent. Yet the available rents have not been collected through economically efficient pricing, but distributed to consumers through low prices. An economically preferred pricing method, known as second-best pricing, is formulated in which there are rents to the hydro resource but these rents are distributed to consumers through the pricing of the product rather than collected by the crown owner of the resource. The model assumes three types of demand: households with different annual incomes which are dependent on the profits of the other two types; small industrial or commercial firms; and large industrial firms. Revenues from the different demand classes are assumed to take the form of two-part tariffs. The pricing policies of crown utilities are discussed, with an emphasis on Hydro-Quebec, and the results of the model are used as informal tests of various theories of public decisionmaking. Most theories provide a partial explanation, but no theory provides a complete explanation of pricing behavior. 24 refs

Analysis of historical series of industrial demand of energy; Analisi delle serie storiche dei consumi energetici dell`industria

Energy Technology Data Exchange (ETDEWEB)

Moauro, F. [ENEA, Centro Ricerche Casaccia, Rome (Italy). Dip. Energia

1995-03-01

This paper reports a short term analysis of the Italian demand for energy fonts and a check of a statistic model supposing the industrial demand for energy fonts as a function of prices and production, according to neoclassic neoclassic micro economic theory. To this pourpose monthly time series of industrial consumption of main energy fonts in 6 sectors, industrial production indexes in the same sectors and indexes of energy prices (coal, natural gas, oil products, electricity) have been used. The statistic methodology refers to modern analysis of time series and specifically to transfer function models. These ones permit rigorous identification and representation of the most important dynamic relations between dependent variables (production and prices), as relation of an input-output system. The results have shown an important positive correlation between energy consumption with prices. Furthermore, it has been shown the reliability of forecasts and their use as monthly energy indicators.

The application of option pricing theory to the evaluation of mining investment

Institute of Scientific and Technical Information of China (English)

ZHANG Neng-fu(张能福); CAI Si-jing(蔡嗣经); LIU Chao-ma(刘朝马); TANG Rui(唐瑞)

2003-01-01

A rational evaluation on an investment project forms the basis of a right investment decision-making. The discounted cash flow (DCF for short) method is usually used as a traditional evaluation method for a project investment. However, as the mining investment is influenced by many uncertainties, DCF method cannot take into account these uncertainties and often underestimates the value of an investment project. Based on the option pricing theory of the modern financial assets, the characteristics of a real project investment are discussed, and the management option of mine managers and its pricing method are described.

Theories of the firm as a foundation for formulating accounting theories

Directory of Open Access Journals (Sweden)

José Glauber Cavalcante dos Santos

2015-03-01

Full Text Available This paper develops an essay concerning the conceptual extension derived from the theory of the firm and its relationship to prevailing accounting theories, summarizes the main currents that try to explain the firm and seeks to establish a relationship with changes of direction in the object and purpose of accounting, as expressed in current accounting research. It is argued that the actual concept of “firm” ends up guiding an informational logic that is deep-rooted in accounting by means of the interpretations absorbed by accounting theory. The discussion centers on the object of accounting theory (registration and disclosure of economic aggregates as intended for accounting information users. The neoclassical theory of the firm, the contractual theory of the firm and the New Institutional Economics (NIE are used for support, focused on transactional costs, property rights and measurement costs. The concepts of business economics direct the actual conceptual logic of accounting theory, with the main intention being to provide efficient information to stakeholders. It has been observed that accounting theory has its roots in the neoclassical theory of the firm; and, by means of the contractual theory of the firm, where the monitoring of agents and of contracts is discussed, it goes beyond the limited vision of the assets control function (stewardship, expands the focus of providing information, in addition to the restricted function of accountability. And, finally, although not all elements of the new NIE are comprehended by accounting theory, the NIE withholds elements of instrumental importance for the consolidation of accounting theories concerning its institutionalization.

Neoclassical effects on RF current drive in tokamaks

International Nuclear Information System (INIS)

Yoshioka, K.; Antonsen, T.M. Jr.

1986-01-01

Neoclassical effects on RF current drive which arise because of the inhomogeneity of the magnetic field in tokamak devices are analysed. A bounce averaged 2-D Fokker-Planck equation is derived from the drift kinetic equation and is solved numerically. The model features current drive due to a strong RF wave field. The efficiency of current drive by electron cyclotron waves is significantly reduced when the waves are absorbed at the low magnetic field side of a given flux surface, whereas the efficiency remains at the same level as in the homogeneous ideal plasma when the waves are absorbed at the high field side. The efficiency of current drive by fast waves (compressional Alfven waves) with low phase velocity (vsub(parallel)/vsub(th)<1) is significantly degraded by neoclassical effects, no matter where the wave is absorbed, and the applicability of this wave seems, therefore, to be doubtful. (author)

Pricing American and Asian Options

OpenAIRE

Pat Muldowney

2015-01-01

An analytic method for pricing American call options is provided; followed by an empirical method for pricing Asian call options. The methodology is the pricing theory presented in "A Modern Theory of Random Variation", by Patrick Muldowney, 2012.

Vertical Integration of Hospitals and Physicians: Economic Theory and Empirical Evidence on Spending and Quality.

Science.gov (United States)

Post, Brady; Buchmueller, Tom; Ryan, Andrew M

2017-08-01

Hospital-physician vertical integration is on the rise. While increased efficiencies may be possible, emerging research raises concerns about anticompetitive behavior, spending increases, and uncertain effects on quality. In this review, we bring together several of the key theories of vertical integration that exist in the neoclassical and institutional economics literatures and apply these theories to the hospital-physician relationship. We also conduct a literature review of the effects of vertical integration on prices, spending, and quality in the growing body of evidence ( n = 15) to evaluate which of these frameworks have the strongest empirical support. We find some support for vertical foreclosure as a framework for explaining the observed results. We suggest a conceptual model and identify directions for future research. Based on our analysis, we conclude that vertical integration poses a threat to the affordability of health services and merits special attention from policymakers and antitrust authorities.

Time dependent plasma viscosity and relation between neoclassical transport and turbulent transport

International Nuclear Information System (INIS)

Shaing, K.C.

2005-01-01

Time dependent plasma viscosities for asymmetric toroidal plasmas in various collisionality regimes are calculated. It is known that in the symmetric limit the time dependent plasma viscosities accurately describe plasma flow damping rate. Thus, time dependent plasma viscosities are important in modeling the radial electric field of the zonal flow. From the momentum balance equation, it is shown that, at the steady state, the balance of the viscosity force and the momentum source determines the radial electric field of the zonal flow. Thus, for a fixed source, the smaller the viscous force is, the larger the value of the radial electric field is, which in turn suppresses the turbulence fluctuations more and improves turbulence transport. However, the smaller the viscous force also implies the smaller the neoclassical transport fluxes based on the neoclassical flux-force relationship. We thus show that when neoclassical transport fluxes are improved so are the turbulent fluxes in toroidal plasmas. (author)

Pfirsch–Schlüter neoclassical heavy impurity transport in a rotating plasma

International Nuclear Information System (INIS)

Belli, E A; Candy, J; Angioni, C

2014-01-01

In this work, we extend previous analytic theories for the neoclassical transport of a trace heavy impurity in a rotating plasma in the Pfirsch–Schlüter regime. The complete diffusive and convective components of the ambipolar particle flux are derived. The solution is valid for arbitrary impurity charge and impurity Mach number and for general geometry. Inclusion of finite main-ion temperature gradient effects is shown in the small ion Mach number limit. A simple interpolation formula is derived for the case of high impurity charge and circular geometry. While an enhancement of the diffusion coefficient is found for order one impurity Mach number, a reduction due to the rotation-driven poloidal asymmetry in the density occurs for very large Mach number. (paper)

Precios inflexibles y la gran depresión Inflexible prices and the great depression

Directory of Open Access Journals (Sweden)

Lee Frederick S.

2000-06-01

Full Text Available Este articulo expone la teoria y la tesis de precios administrados de Gardiner Means, analiza sus efectos sobre la gran depresion y presenta las criticas y propuestas de los defensores de la teoria neoclasica. Revisa empiricamente la propuesta de Means y señala sus limitaciones y verdaderos alcances. Por ultimo, muestra que si la tesis Means y las propuestas Keynesianas se hubiesen unido en 1940, la sintesis resultante habria dado lugar a una teoria coherente, con solidos funadamentos empiricos, alternativa a la teoria neoclasica tradicional.This article presents Gardiner Means' theory and thesis of administeredprices, analyzes their effects on the Great Depression, andpresents the critiques and proposals of the defenders of Neoclassical Theory. It reviews Means' proposal empirically, and indicates its limitations as well as its real significance. Finally, it shows thatif the Means thesis and Keynesian proposals had been joined togetherin 1940, the resulting synthesis would have provided a coherent alternative to traditional Neoclassical Theory with solid empirical foundations.

Feynman perturbation expansion for the price of coupon bond options and swaptions in quantum finance. I. Theory.

Science.gov (United States)

Baaquie, Belal E

2007-01-01

European options on coupon bonds are studied in a quantum field theory model of forward interest rates. Swaptions are briefly reviewed. An approximation scheme for the coupon bond option price is developed based on the fact that the volatility of the forward interest rates is a small quantity. The field theory for the forward interest rates is Gaussian, but when the payoff function for the coupon bond option is included it makes the field theory nonlocal and nonlinear. A perturbation expansion using Feynman diagrams gives a closed form approximation for the price of coupon bond option. A special case of the approximate bond option is shown to yield the industry standard one-factor HJM formula with exponential volatility.

Electron heat transport analysis of low-collisionality plasmas in the neoclassical-transport-optimized configuration of LHD

International Nuclear Information System (INIS)

Murakami, Sadayoshi; Yamada, Hiroshi; Wakasa, Arimitsu

2002-01-01

Electron heat transport in low-collisionality LHD plasma is investigated in order to study the neoclassical transport optimization effect on thermal plasma transport with an optimization level typical of so-called ''advanced stellarators''. In the central region, a higher electron temperature is obtained in the optimized configuration, and transport analysis suggests the considerable effect of neoclassical transport on the electron heat transport assuming the ion-root level of radial electric field. The obtained experimental results support future reactor design in which the neoclassical and/or anomalous transports are reduced by magnetic field optimization in a non-axisymmetric configuration. (author)

Classical diffusion: theory and simulation codes

International Nuclear Information System (INIS)

Grad, H.; Hu, P.N.

1978-03-01

A survey is given of the development of classical diffusion theory which arose from the observation of Grad and Hogan that the Pfirsch-Schluter and Neoclassical theories are very special and frequently inapplicable because they require that plasma mass flow be treated as transport rather than as a state variable of the plasma. The subsequent theory, efficient numerical algorithms, and results of various operating codes are described

Simulating an oil shock with sticky prices. [Monograph

Energy Technology Data Exchange (ETDEWEB)

Giavazzi, F; Odekon, M; Wyplosz, C

1981-01-01

The authors extend recent work by J. Sachs on the response of a two-country-plus-OPEC neo-classical model to an oil shock with full inter-temporal optimization and perfect foresight. The role of imperfectly flexible prices is studied under the assumption that firms are constrained in output. The presence of expected inflation is shown to be pervasive. It affects the real interest-rate term structure and the valuation of all components of wealth, as well as the exchange rate and the attending distribution of world expenditures. Inflation also enters the wage-adjustment mechanism and, therefore, the path of unemployment and capital accumulation. 23 references, 3 figures, 7 tables.

Slowing down tail enhanced, neoclassical and classical alpha particle fluxes in tokamak reactors

International Nuclear Information System (INIS)

Catto, P.J.; Tessarotto, M.

1988-01-01

The classical and neoclassical particle and energy fluxes associated with a slowing down tail, alpha particle distribution function are evaluated for arbitrary aspect ratio ε -1 , cross section, and poloidal magnetic field. The retention of both electron and ion drag and pitch angle scattering by the background ions results in a large diffusive neoclassical heat flux in the plasma core. This flux remains substantial at larger radii only if the characteristic speed associated with pitch angle scattering, v/sub b/, is close enough to the alpha birth speed v 0 so that ε(v 0 /v/sub b/) 3 remains less than some order unity critical value which is not determined by the methods herein. The enhanced neoclassical losses would only have a serious impact on ignition if the critical value of ε(v 0 /v/sub b/) 3 is found to be somewhat larger than unity

Neoclassical diffusion at low L-shel

Science.gov (United States)

Cunningham, G.; Ripoll, J. F.; Loridan, V.; Schulz, M.

2017-12-01

At very low L-shell, the lifetime of MeV electrons is dominated by pitch-angle scattering due to Coulomb collisions with background neutrals and ions. Walt's evaluation of this lifetime explained Van Allen's observations of the decay of the radiation belts in the early 1960's, for L500 keV electrons for L=[1.15,1.21] was much greater than predicted by Walt's model when the decay was observed over 3 years rather than just a few months. Imhof et al argued that inward radial diffusion from larger L would be a source of electrons at low L, thus increasing the apparent lifetimes that were observed, but did not speculate on the cause of such diffusion across L. Newkirk and Walt estimated the radial diffusion coefficient that would be needed to explain the apparent lifetimes observed by Imhof et al. The radial diffusion coefficients they inferred dropped sharply as L increased, contrasting with the radial diffusion coefficients that had been recently developed by Falthammar [1965], which increase as a power law in L. Newkirk and Walt noted Falthammar's speculation that pitch-angle diffusion caused by Coulomb scattering, when coupled to drift-shell splitting associated with non-dipolar terms in the near-Earth geomagnetic field, might be the physical basis for the radial diffusion, but they did not attempt to quantify this effect. Roederer et al demonstrated that Coulomb scattering plus drift-shell splitting could explain the Newkirk and Walt results but they did not perform an exhaustive study. In the field of magnetically confined fusion, the movement of charged particles to different drift-shells caused by the combination of collisions and drift-shell splitting is labeled `neoclassical' diffusion. By contrast, `anomalous' diffusion results from pitch-angle diffusion caused by wave turbulence combined with drift-shell splitting, an effect recently studied by O'Brien in the outer radiation belt. We have constructed a comprehensive model of neoclassical diffusion at low L

A Simple Model of Pharmaceutical Price Dynamics

OpenAIRE

Bhattacharya, Jayanta; Vogt, William B

2003-01-01

Branded pharmaceutical firms use price and promotional strategy to manage public knowledge about their drugs. We propose a dynamic theory of pharmaceutical pricing and conduct an exploratory empirical analysis inspired by the theory. Our theory predicts a pattern of increasing prices and decreasing promotional activities over a drug's life cycle. Prices are kept low and advertising levels high early in the life cycle in order to build public knowledge about the drug. As knowledge grows, price...

A Feminist Critique of Rational-Choice Theories: Implications for Sociology.

Science.gov (United States)

England, Paula

1989-01-01

Provides a feminist critique of rational-choice theory and the interdisciplinary feminist theories of sociology. Applies the separative model of self to four assumptions of the neoclassical economics version of rational-choice theory. Uses research on marital power to illustrate how removing distorting assumptions can help illuminate sociological…

A theory of price-fixing/market-sharing rings as applied to OPEC behavior since march 1982

International Nuclear Information System (INIS)

Kazushi Uemura

1992-01-01

In the past, OPEC has been analyzed as a cartel, but usually without a formal theoretical framework. Don Patinkin's cartel model was occasionally used, but was turned down for being 'too strict' to explain OPEC behavior. One of the most serious short-comings of Patinkin's model is its prediction that high-cost producers would first shut down for the survival of a cartel. In OPEC agreements, it has been seen many times that Saudi Arabia (a low-cost producer) reduced its production for the survival of the cartel. A new and promising cartel theory, A theory of price-fixing/market-sharing rings, has been introduced ('CMT model'). In this paper, it is going to use CMT model's structure and model OPEC's major price-fixing/market-sharing agreements and a period without such an agreement since March, 1982 when OPEC, for the first time in its history, reached a price-fixing/market-sharing agreement. 3 refs., 2 figs., 2 tabs

Effects of classical and neo-classical cross-field transport of tungsten impurity in realistic tokamak geometry

Energy Technology Data Exchange (ETDEWEB)

Yamoto, S.; Inoue, H.; Sawada, Y.; Hatayama, A. [Faculty of Science and Technology, Keio University, Yokohama (Japan); Homma, Y.; Hoshino, K. [Japan Atomic Energy Agency, Rokkasho, Aomori (Japan); Bonnin, X. [ITER Organization, St. Paul Lez Durance (France); Coster, D. [Max-Planck-Institut fuer Plasmaphysik, Garching (Germany); Schneider, R. [Ernst-Moritz-Arndt University Greifswald (Germany)

2016-08-15

The initial simulation study of the neoclassical perpendicular self-diffusion transport in the SOL/Divertor regions for a realistic tokamak geometry with the IMPGYRO code has been performed in this paper. One of the most unique features of the IMPGYRO code is calculating exact Larmor orbit of the test particle instead of assuming guiding center approximation. Therefore, effects of the magnetic drifts in realistic tokamaks are naturally taken into account in the IMPGYRO code. This feature makes it possible to calculate neoclassical transport processes, which possibly become large in the SOL/divertor plasma. Indeed, neoclassical self-diffusion process, the resultant effect of the combination of magnetic drift and Coulomb collisions with background ions, has already been included in the IMPGYRO model. In the present paper, prior to implementing the detailed model of neoclassical transport process into IMPGYRO, we have investigated the effect of neoclassical selfdiffusion in a realistic tokamak geometry with lower single null X-point. We also use a model with guiding center approximation in order to compare with the IMPGYRO full orbit model. The preliminary calculation results of each model have shown differences in the perpendicular average velocity of impurity ions at the top region of the SOL. The mechanism which leads to the difference has been discussed. (copyright 2015 WILEY-VCH Verlag GmbH and Co. KGaA, Weinheim)

A new δf method for neoclassical transport studies

International Nuclear Information System (INIS)

Wang, W.X.; Nakajima, N.; Okamoto, M.; Murakami, S.

1999-01-01

A new δf method is presented in detail to solve the drift kinetic equation for the simulation study of neoclassical transport. It is demonstrated that valid results essentially rely on the correct evaluation of the marker density g in the weight calculation. A new weighting scheme is developed without assuming g in the weight equation for advancing particle weights, unlike previous schemes. This scheme employs an additional weight function to directly solve g from its kinetic equation based on the δf method itself. Therefore, the severe constraint that the real marker distribution must be consistent with the initially assumed g is relaxed. An improved like-particle collision scheme is also presented. By compensating for momentum, energy and particle losses, the conservations of all three quantities are greatly improved during collisions. With the improvement in both the like-particle collision scheme and the weighting scheme, the δf simulation shows a significantly improved performance. The new δf method is applied to the study of ion neoclassical transports due to self-collisions, taking the effect of finite orbit width into account. The ion thermal transport near the magnetic axis is shown to be greatly reduced from its conventional neoclassical level, like that of previous δf simulations. On the other hand, the direct particle loss from the confinement region may strongly increase the ion thermal transport near the edge. It is found that the ion parallel flow near the axis is also largely reduced due to non-standard orbit topology. (author)

Clustered Pricing in the Corporate Loan Market: Theory and Empirical Evidence

OpenAIRE

Bajoori, Elnaz; Nandeibam, Shasikanta; Chaudhry, Sajid Mukhtar

2016-01-01

Existing theories explaining security price clustering as well as clustering in the retail depositand mortgage markets are incompatible with the clustering in the corporate loan market. Wedevelop a new theoretical argument that the attitude of the lender toward the uncertaintyabout the quality of the borrower leads to the clustering of spreads. Our empirical resultssupport these arguments and we find that clustering increases with the degree of uncertaintybetween the lender and the borrower. ...

On explaining performance differentials: Marketing and the managerial theory of the firm

NARCIS (Netherlands)

Stoelhorst, J.W.; Raaij, van E.M.

2004-01-01

Efforts to develop a managerially meaningful alternative to the neoclassical theory of the firm have always been an important part of theory development in marketing. This paper argues that the main explanandum of a managerial theory of the firm is performance differentials between firms. Marketing

On explaining performance differentials: marketing and the managerial theory of the firm

NARCIS (Netherlands)

Stoelhorst, J.W.; van Raaij, E.M.

2004-01-01

Efforts to develop a managerially meaningful alternative to the neoclassical theory of the firm have always been an important part of theory development in marketing. This paper argues that the main explanandum of a managerial theory of the firm is performance differentials between firms. Marketing

A neoclassical drift-magnetohydrodynamical fluid model of the interaction of a magnetic island chain with a resonant error-field in a high temperature tokamak plasma

Science.gov (United States)

Fitzpatrick, Richard

2018-04-01

A two-fluid, neoclassical theory of the interaction of a single magnetic island chain with a resonant error-field in a quasi-cylindrical, low-β, tokamak plasma is presented. The plasmas typically found in large hot tokamaks lie in the so-called weak neoclassical flow-damping regime in which the neoclassical ion stress tensor is not the dominant term in the ion parallel equation of motion. Nevertheless, flow-damping in such plasmas dominates ion perpendicular viscosity, and is largely responsible for determining the phase velocity of a freely rotating island chain (which is in the ion diamagnetic direction relative to the local E × B frame at the rational surface). The critical vacuum island width required to lock the island chain is mostly determined by the ion neoclassical poloidal flow damping rate at the rational surface. The stabilizing effect of the average field-line curvature, as well as the destabilizing effect of the perturbed bootstrap current, is the same for a freely rotating, a non-uniformly rotating, and a locked island chain. The destabilizing effect of the error-field averages to zero when the chain is rotating and only manifests itself when the chain locks. The perturbed ion polarization current has a small destabilizing effect on a freely rotating island chain, but a large destabilizing effect on both a non-uniformly rotating and a locked island chain. This behavior may account for the experimentally observed fact that locked island chains are much more unstable than corresponding freely rotating chains.

High Z neoclassical transport: Application and limitation of analytical formulae for modelling JET experimental parameters

Science.gov (United States)

Breton, S.; Casson, F. J.; Bourdelle, C.; Angioni, C.; Belli, E.; Camenen, Y.; Citrin, J.; Garbet, X.; Sarazin, Y.; Sertoli, M.; JET Contributors

2018-01-01

Heavy impurities, such as tungsten (W), can exhibit strongly poloidally asymmetric density profiles in rotating or radio frequency heated plasmas. In the metallic environment of JET, the poloidal asymmetry of tungsten enhances its neoclassical transport up to an order of magnitude, so that neoclassical convection dominates over turbulent transport in the core. Accounting for asymmetries in neoclassical transport is hence necessary in the integrated modeling framework. The neoclassical drift kinetic code, NEO [E. Belli and J. Candy, Plasma Phys. Controlled Fusion P50, 095010 (2008)], includes the impact of poloidal asymmetries on W transport. However, the computational cost required to run NEO slows down significantly integrated modeling. A previous analytical formulation to describe heavy impurity neoclassical transport in the presence of poloidal asymmetries in specific collisional regimes [C. Angioni and P. Helander, Plasma Phys. Controlled Fusion 56, 124001 (2014)] is compared in this work to numerical results from NEO. Within the domain of validity of the formula, the factor for reducing the temperature screening due to poloidal asymmetries had to be empirically adjusted. After adjustment, the modified formula can reproduce NEO results outside of its definition domain, with some limitations: When main ions are in the banana regime, the formula reproduces NEO results whatever the collisionality regime of impurities, provided that the poloidal asymmetry is not too large. However, for very strong poloidal asymmetries, agreement requires impurities in the Pfirsch-Schlüter regime. Within the JETTO integrated transport code, the analytical formula combined with the poloidally symmetric neoclassical code NCLASS [W. A. Houlberg et al., Phys. Plasmas 4, 3230 (1997)] predicts the same tungsten profile as NEO in certain cases, while saving a factor of one thousand in computer time, which can be useful in scoping studies. The parametric dependencies of the temperature

Pricing medicines: theory and practice, challenges and opportunities.

Science.gov (United States)

Gregson, Nigel; Sparrowhawk, Keiron; Mauskopf, Josephine; Paul, John

2005-02-01

The pricing of medicines has become one of the most hotly debated topics of recent times, with the pharmaceutical industry seemingly being attacked from all quarters. From a company perspective, determining the price for each new product is more crucial than ever, given the present dearth of new drug introductions. But how are pricing strategies developed in practice? What is value-based pricing and how are financial models of return on investment constructed? What are the challenges faced in setting the price for a particular product, and how will scientific and environmental trends provide future pricing challenges or opportunities?

Unified kinetic theory in toroidal systems

International Nuclear Information System (INIS)

Hitchcock, D.A.; Hazeltine, R.D.

1980-12-01

The kinetic theory of toroidal systems has been characterized by two approaches: neoclassical theory which ignores instabilities and quasilinear theory which ignores collisions. In this paper we construct a kinetic theory for toroidal systems which includes both effects. This yields a pair of evolution equations; one for the spectrum and one for the distribution function. In addition, this theory yields a toroidal generalization of the usual collision operator which is shown to have many similar properties - conservation laws, H theorem - to the usual collision operator

Poloidal rotation dynamics, radial electric field, and neoclassical theory in the jet internal-transport-barrier region.

Science.gov (United States)

Crombé, K; Andrew, Y; Brix, M; Giroud, C; Hacquin, S; Hawkes, N C; Murari, A; Nave, M F F; Ongena, J; Parail, V; Van Oost, G; Voitsekhovitch, I; Zastrow, K-D

2005-10-07

Results from the first measurements of a core plasma poloidal rotation velocity (upsilontheta) across internal transport barriers (ITB) on JET are presented. The spatial and temporal evolution of the ITB can be followed along with the upsilontheta radial profiles, providing a very clear link between the location of the steepest region of the ion temperature gradient and localized spin-up of upsilontheta. The upsilontheta measurements are an order of magnitude higher than the neoclassical predictions for thermal particles in the ITB region, contrary to the close agreement found between the determined and predicted particle and heat transport coefficients [K.-D. Zastrow, Plasma Phys. Controlled Fusion 46, B255 (2004)]. These results have significant implications for the understanding of transport barrier dynamics due to their large impact on the measured radial electric field profile.

The Price Is Right, but Are the Bids? An Investigation of Rational Decision Theory.

OpenAIRE

Berk, Jonathan B; Hughson, Eric; Vandezande, Kirk

1996-01-01

The television game show The Price Is Right is used as a laboratory to conduct a preference-free test of rational decision theory in an environment with substantial economic incentives. It is found that contestants' strategies are transparently suboptimal. In response to this evidence, simple rules of thumb are developed that are shown to explain observed bidding patterns better than rational decision theory. Further, learning during the show reduces the frequency of strategic errors. This is...

Income and Wealth Distribution in a Neoclassical Two-Sector Heterogeneous-Households Growth Model with Elastic Labor Supply and Consumer Durable Goods

Directory of Open Access Journals (Sweden)

Wei-Bin ZHANG

2017-06-01

Full Text Available This paper proposes a two-sector two-group growth model with elastic labor supply and consumer durable goods. We study dynamics of wealth and income distribution in a competitive economy with capital accumulation as the main engine of economic growth. The model is built on the Uzawa two-sector model. It is also influenced by the neoclassical growth theory and the post-Keynesian theory of growth and distribution. We plot the motion of the economic system and determine the economic equilibrium. We carry out comparative dynamic analysis with regard to the propensity to save and improvements in human capital and technology.

Measurement of neoclassically predicted edge current density at ASDEX Upgrade

Science.gov (United States)

Dunne, M. G.; McCarthy, P. J.; Wolfrum, E.; Fischer, R.; Giannone, L.; Burckhart, A.; the ASDEX Upgrade Team

2012-12-01

Experimental confirmation of neoclassically predicted edge current density in an ELMy H-mode plasma is presented. Current density analysis using the CLISTE equilibrium code is outlined and the rationale for accuracy of the reconstructions is explained. Sample profiles and time traces from analysis of data at ASDEX Upgrade are presented. A high time resolution is possible due to the use of an ELM-synchronization technique. Additionally, the flux-surface-averaged current density is calculated using a neoclassical approach. Results from these two separate methods are then compared and are found to validate the theoretical formula. Finally, several discharges are compared as part of a fuelling study, showing that the size and width of the edge current density peak at the low-field side can be explained by the electron density and temperature drives and their respective collisionality modifications.

Measurement of neoclassically predicted edge current density at ASDEX Upgrade

International Nuclear Information System (INIS)

Dunne, M.G.; McCarthy, P.J.; Wolfrum, E.; Fischer, R.; Giannone, L.; Burckhart, A.

2012-01-01

Experimental confirmation of neoclassically predicted edge current density in an ELMy H-mode plasma is presented. Current density analysis using the CLISTE equilibrium code is outlined and the rationale for accuracy of the reconstructions is explained. Sample profiles and time traces from analysis of data at ASDEX Upgrade are presented. A high time resolution is possible due to the use of an ELM-synchronization technique. Additionally, the flux-surface-averaged current density is calculated using a neoclassical approach. Results from these two separate methods are then compared and are found to validate the theoretical formula. Finally, several discharges are compared as part of a fuelling study, showing that the size and width of the edge current density peak at the low-field side can be explained by the electron density and temperature drives and their respective collisionality modifications. (paper)

Neoclassical tearing mode seeding by coupling with infernal modes in low-shear tokamaks

Science.gov (United States)

Kleiner, A.; Graves, J. P.; Brunetti, D.; Cooper, W. A.; Halpern, F. D.; Luciani, J.-F.; Lütjens, H.

2016-09-01

A numerical and an analytical study of the triggering of resistive MHD modes in tokamak plasmas with low magnetic shear core is presented. Flat q profiles give rise to fast growing pressure driven MHD modes, such as infernal modes. It has been shown that infernal modes drive fast growing islands on neighbouring rational surfaces. Numerical simulations of such instabilities in a MAST-like configuration are performed with the initial value stability code XTOR-2F in the resistive frame. The evolution of magnetic islands are computed from XTOR-2F simulations and an analytical model is developed based on Rutherford’s theory in combination with a model of resistive infernal modes. The parameter {{Δ }\\prime} is extended from the linear phase to the non-linear phase. Additionally, the destabilising contribution due to a helically perturbed bootstrap current is considered. Comparing the numerical XTOR-2F simulations to the model, we find that coupling has a strong destabilising effect on (neoclassical) tearing modes and is able to seed 2/1 magnetic islands in situations when the standard NTM theory predicts stability.

The Q theory of investment, the capital asset pricing model, and asset valuation: a synthesis.

Science.gov (United States)

McDonald, John F

2004-05-01

The paper combines Tobin's Q theory of real investment with the capital asset pricing model to produce a new and relatively simple procedure for the valuation of real assets using the income approach. Applications of the new method are provided.

An application of fisheries economics theory

DEFF Research Database (Denmark)

Frost, Hans Staby; Andersen, Peder; Hoff, Ayoe

2011-01-01

discrete-time model. The neo-classical concept of resource rent is maximized by use of various physical measures, such as fishing effort restrictions and fishing quotas, and economic measures, such as property or user rights and taxes. Although theory ranks economic measures above physical measures...

Relativistic neoclassical transport coefficients with momentum correction

International Nuclear Information System (INIS)

Marushchenko, I.; Azarenkov, N.A.

2016-01-01

The parallel momentum correction technique is generalized for relativistic approach. It is required for proper calculation of the parallel neoclassical flows and, in particular, for the bootstrap current at fusion temperatures. It is shown that the obtained system of linear algebraic equations for parallel fluxes can be solved directly without calculation of the distribution function if the relativistic mono-energetic transport coefficients are already known. The first relativistic correction terms for Braginskii matrix coefficients are calculated.

Optimal execution with price impact under Cumulative Prospect Theory

Science.gov (United States)

Zhao, Jingdong; Zhu, Hongliang; Li, Xindan

2018-01-01

Optimal execution of a stock (or portfolio) has been widely studied in academia and in practice over the past decade, and minimizing transaction costs is a critical point. However, few researchers consider the psychological factors for the traders. What are traders truly concerned with - buying low in the paper accounts or buying lower compared to others? We consider the optimal trading strategies in terms of the price impact and Cumulative Prospect Theory and identify some specific properties. Our analyses indicate that a large proportion of the execution volume is distributed at both ends of the transaction time. But the trader's optimal strategies may not be implemented at the same transaction size and speed in different market environments.

Effect of Neoclassical Transport Optimization on Energetic Ion Confinement in LHD

International Nuclear Information System (INIS)

Murakami, S.; Yamada, H.; Sasao, M.

2004-01-01

Confinement of energetic ions from neutral beam injection heating is investigated by changing the magnetic field configuration of the Large Helical Device from a classical heliotron configuration to an optimized neoclassical transport configuration to a level typical of ''advanced stellarators.'' The experimental results show the highest count rate of fast neutral particles not in the optimized configuration but in the inward-shifted one. The GNET simulation results show a relatively good agreement with the experimental results, and they also show a lower energy loss rate in the optimized configuration. This contradiction can be explained by the radial profile of the energetic ions. The relatively good agreement between experimental and simulation results suggest that ripple transport (neoclassical) dominates the energetic ion confinement and that the optimization process is effective in improving confinement in helical systems

International distortions of competition under emissions trading due to differences in national permit allocation. Theory and empirical analysis of the EU-energy intensive industry

International Nuclear Information System (INIS)

Brockhagen, D.

2004-03-01

The first part develops a theory of distortions of competition among competing firms, induced by differences in the method and/or stringency of national allocation of greenhouse gas emission permits in an international emissions trading system. By applying neoclassical theory on output optimisation, price setting and other factors such as R and D expenditures, five potentially distorting effects are identified for perfect and imperfect markets,. The second part develops economic indicators and a two tier approach, which can be applied empirically, in order to test whether an industry is vulnerable to the potential effects found before. The third part applies the two tier approach empirically to four sectors of the energy intensive industry in the EU: steel making, cement, oil refining and electricity generation. The steel industry is the most vulnerable industry, followed by oil refining, whereas cement and electricity are not vulnerable. At a permit price of 20 euros/ton CO 2 , and with national allocations that differ more than 40% in terms of allowed emissions per ton product output, this thesis predicts that some steel makers would be forced out of the market. (author)

Delegating Pricing Decisions

OpenAIRE

Pradeep Bhardwaj

2001-01-01

An outstanding problem in marketing is why some firms in a competitive market delegate pricing decisions to agents and other firms do not. This paper analyzes the impact of competition on the delegation decision and, in turn, the impact of delegation on prices and incentives. The theory builds on the simplest framework of competition in two dimensions: prices and (sales agents') effort. Specifically, we are interested in answering the following questions: (1) Does competition affect the price...

Pricing Strategy and the Formation and Evolution of Reference Price Perceptions in New Product Categories

OpenAIRE

Lowe, Ben; Alpert, Frank

2010-01-01

This study examines the formation and evolution of reference price perceptions in new product categories. It contributes to our understanding of pricing new products by integrating two important research streams in marketing-reference price theory and the theory of pioneer brand advantage. Prior research has focused solely on products in existing or incrementally new categories, and has typically examined fast-moving consumer goods. Using a cross-sectional experiment to study the formation of...

The determinants of merger waves: An international perspective

Science.gov (United States)

Gugler, Klaus; Mueller, Dennis C.; Weichselbaumer, Michael

2012-01-01

One of the most conspicuous features of mergers is that they come in waves that are correlated with increases in share prices and price/earnings ratios. We use a natural way to discriminate between pure stock market influences on firm decisions and other influences by examining merger patterns for both listed and unlisted firms. If “real” changes in the economy drive merger waves, as some neoclassical theories of mergers predict, both listed and unlisted firms should experience waves. We find significant differences between listed and unlisted firms as predicted by behavioral theories of merger waves. PMID:27346903

Dynamics of Markets

Science.gov (United States)

McCauley, Joseph L.

2009-09-01

Preface; 1. Econophysics: why and what; 2. Neo-classical economic theory; 3. Probability and stochastic processes; 4. Introduction to financial economics; 5. Introduction to portfolio selection theory; 6. Scaling, pair correlations, and conditional densities; 7. Statistical ensembles: deducing dynamics from time series; 8. Martingale option pricing; 9. FX market globalization: evolution of the dollar to worldwide reserve currency; 10. Macroeconomics and econometrics: regression models vs. empirically based modeling; 11. Complexity; Index.

Some Theories Of Environmental Sustainability

Directory of Open Access Journals (Sweden)

Irina-Virginia Dragulanescu

2014-01-01

Full Text Available The paper deals with the arguments with which the neoclassical have approached the problems of sustainability, giving life to that branch of political economy that studies the problems related to the use of natural resources and environmental externalities. Environmental Economics studies, insights and additions that bind knowledge economy with the application of economic theory to environmental problems seek to provide in this paper an comprehensive framework and as exhaustive as possible of speculations around the concept of sustainability. We highlight, also, how environmental aspects are processed within a defined perimeter of economic instruments to defend the neoclassical orthodoxy in front of the market failure and to support the undertaking of a path of development that is sustainable.

Systems contestability in electricity distribution networks. An analysis from the telecommunications models within the neoclassical economic paradigm

International Nuclear Information System (INIS)

Schweickardt, Gustavo Alejandro; Pistonesi, Hector

2008-01-01

The introduction of contestability conditions in the market of electricity distribution, following the dominant economic paradigm (Neoclassical or Marginalist) and solidary to the commercialization segment, it doesn't exhibit satisfactory solutions at the present time. This asseveration, of general character, have special incumbency for those countries of Latin America that, from regulatory schemes, try to define a deregulated market for certain kind of user (denominated eligible). A eligible user is characterized by to have demands equal or higher than a preset threshold value of electric power/ energy. In this work, considering the models implemented in the telecommunications networks, the problem of allocation of distribution costs, as the first step toward a contestable offer in the retail energy service, is discussed to establishing access prices in the distribution networks (non contestable markets). The analysis is focalized to definition of two market segments: one regulated and other competitive. Their methodological and instrumentation difficulties, are presented, concluding in the necessity of an alternative paradigm.

The effect on stellarator neoclassical transport of a fluctuating electrostatic spectrum

International Nuclear Information System (INIS)

Mynick, H.E.; Boozer, A.H.

2005-01-01

A study is presented of the effect on neoclassical transport of a fluctuating electrostatic spectrum, such as produced either by plasma turbulence, or imposed externally. For tokamaks, it is usually assumed that the neoclassical and 'anomalous' contributions to the transport roughly superpose, D=D nc +D an , an intuition also used in modeling stellarators. An alternate intuition, however, is one where it is the collisional and anomalous scattering frequencies which superpose, ν ef =ν+ν an . For nonaxisymmetric systems, in regimes where ∂D/∂ν ef picture' implies that turning on the fluctuations can decrease the total radial transport. Using numerical and analytic means, it is found that the total transport has contributions conforming to each of these intuitions, either of which can dominate. In particular, for stellarators, the ν ef picture is often valid, producing transport behavior differing from tokamaks

Poloidal spin up and electric-field generation related to displacement current and neoclassical transport

International Nuclear Information System (INIS)

Gervasini, G.; Lazzaro, E.; Minardi, E.

1996-01-01

In accordance with the conventional ordering of neoclassical theory, poloidal and toroidal accelerations with constant parallel flow can be driven by heat transport in the absence of external momentum input and with vanishing parallel viscous stress. In a transient phase in which the heat transport is the primary source of the time dependence, the torque generating the rotation is provided at third order in the adiabatic expansion by the surface-averaged (non ambipolar) displacement current, which in also responsible for charge build-up and for the radial electric field. The heat transport equation has been solved in a narrow layer interfaced with the intensely heated plasma core through heat flux continuity, assuming neoclassical multi collisional coefficients with self-consistent suppression mechanism of anomalous transport. Starting from low temperature in the edge layer, a strong temperature gradient, a mass poloidal rotation in the ion direction and a strongly negative sheared radial electric field can be generated, in agreement with the observations, and reach a stationary state after a displacement current-dominated triggering phase (intrinsically non-ambipolar) lasting few milliseconds. Momentum input becomes important on longer time scale and is responsible for the toroidal rotation, decoupled from temperature gradient and for a further development of the radial electric field. The results show the ability of edge transport processes to adapt flexibly to a high temperature imposed on the inner side of the edge layer and support the view that the edge processes are a integral part of a more fundamental global process involving possibly an internal bifurcation of state

Priced Timed Automata:  Theory and Tools

DEFF Research Database (Denmark)

Larsen, Kim Guldstrand

2009-01-01

Priced timed automata are emerging as useful formalisms for modeling and analysing a broad range of resource allocation problems. In this extended abstract, we highlight recent (un)deci\\-dability results related to priced timed automata as well as point to a number of open problems....

Fusion plasma theory grant: Task 1, Magnetic confinement fusion plasma theory

International Nuclear Information System (INIS)

Callen, J.D.

1989-07-01

The research performed under this grant during the current year has concentrated on key tokamak plasma confinement and heating theory issues: further development of neoclassical MHD; development of a new fluid/kinetic hybrid model; energy confinement degradation due to macroscopic phenomena in tokamaks; and some other topics (magnetics analysis, coherent structures, presheath structure). Progress and publications in these areas are briefly summarized in this report. 20 refs

Spot Pricing When Lagrange Multipliers Are Not Unique

DEFF Research Database (Denmark)

Feng, Donghan; Xu, Zhao; Zhong, Jin

2012-01-01

Classical spot pricing theory is based on multipliers of the primal problem of an optimal market dispatch, i.e., the solution of the dual problem. However, the dual problem of market dispatch may yield multiple solutions. In these circumstances, spot pricing or any standard pricing practice based...... on a strict extension of the principles of spot pricing and surplus allocation, we propose a new pricing methodology that can yield unique, impartial, and robust solution. The new method has been analyzed and compared with other pricing approaches in accordance with spot pricing theory. Case studies support...

Braking due to non-resonant magnetic perturbations and comparison with neoclassical toroidal viscosity torque in EXTRAP T2R

Science.gov (United States)

Frassinetti, L.; Sun, Y.; Fridström, R.; Menmuir, S.; Olofsson, K. E. J.; Brunsell, P. R.; Khan, M. W. M.; Liang, Y.; Drake, J. R.

2015-09-01

The non-resonant magnetic perturbation (MP) braking is studied in the EXTRAP T2R reversed-field pinch (RFP) and the experimental braking torque is compared with the torque expected by the neoclassical toroidal viscosity (NTV) theory. The EXTRAP T2R active coils can apply magnetic perturbations with a single harmonic, either resonant or non-resonant. The non-resonant MP produces velocity braking with an experimental torque that affects a large part of the core region. The experimental torque is clearly related to the plasma displacement, consistent with a quadratic dependence as expected by the NTV theory. The work show a good qualitative agreement between the experimental torque in a RFP machine and NTV torque concerning both the torque density radial profile and the dependence on the non-resonant MP harmonic.

The carbon price: a toothless tool for material efficiency?

Science.gov (United States)

Skelton, Alexandra C H; Allwood, Julian M

2017-06-13

This article explores whether a carbon price will effectively encourage the more efficient use of greenhouse gas intensive materials such as steel. The article identifies a range of distortions that arise when some of the restrictive assumptions of neoclassical economics are relaxed. Distortions occur due to the sequential nature of decision-making along supply chains, due to imperfect competition and due to government intervention to reduce the risk of carbon leakage. If upstream sectors do not pass on carbon costs, downstream sectors do not have the opportunity to react. Of the distortions identified, compensation mechanisms that reduce the risk of carbon leakage are likely to act as the greatest hinderance to appropriate incentives for the more efficient use of steel in the UK: as things currently stand, unless upstream companies are encouraged to make windfall profits, incentives downstream are weakened. The article concludes by exploring policy options to address the distortions identified, including efforts to reinstate the carbon price downstream and efforts to remove other distortive taxes.This article is part of the themed issue 'Material demand reduction'. © 2017 The Authors.

Generation of zonal flows by ion-temperature-gradient and related modes in the presence of neoclassical viscosity

International Nuclear Information System (INIS)

Mikhailovskii, A.B.; Smolyakov, A.I.; Kovalishen, E.A.; Shirokov, M.S.; Tsypin, V.S.; Galvao, R.M.O.

2006-01-01

Generation of zonal flows by primary waves that are more complex than those considered in the standard drift-wave model is studied. The effects of parallel ion velocity and ion perturbed temperature and the part of the nonlinear mode interaction proportional to the ion pressure are taken into account. This generalization of the standard model allows the analysis of generation of zonal flows by a rather wide variety of primary modes, including ion temperature gradients, ion sound, electron drift, and drift-sound modes. All the listed effects, which are present in the slab geometry model, are complemented by effects of neoclassical viscosity inherent to toroidal geometry. We show that the electrostatic potential of secondary small-scale modes is expressed in terms of a nonlinear shift of the mode frequency and interpret this shift in terms of the perpendicular and parallel Doppler, nonlinear Kelvin-Helmholtz (KH), and nonlinear ion-pressure-gradient effects. A basic assumption of our model is that the primary modes form a nondispersive monochromatic wave packet. The analysis of zonal-flow generation is performed following an approach similar to that of convective-cell theory. Neoclassical zonal-flow instabilities are separated into fast and slow ones, and these are divided into two varieties. The first of them is independent of the nonlinear KH effect, while the second one is sensitive to it

Coase and international business: the origin and development of internalisation theory

OpenAIRE

Casson, Mark

2014-01-01

The internalisation theory of the multinational enterprise is a significant intellectual legacy of Ronald Coase. US direct investment in Europe became highly political in the 1960s, and neoclassical trade theory had no explanation. A theory of the multi-plant enterprise was required, and internalisation theory filled this gap. Using Coasian economics to explain the ownership of production plants, and the geography of trade to explain their location, internalisation theory offered a comprehens...

Neoclassical Drift of Circulating Orbits Due toToroidal Electric Field in Tokamaks

International Nuclear Information System (INIS)

Qin, Hong; Guan, Xiaoyin; Fisch, Nathaniel J.

2011-01-01

In tokamaks, Ware pinch is a well known neoclassical effect for trapped particles in response to a toroidal electric field. It is generally believed that there exists no similar neoclassical effect for circulating particles without collisions. However, this belief is erroneous, and misses an important effect. We show both analytically and numerically that under the influence of a toroidal electric field parallel to the current, the circulating orbits drift outward toward the outer wall with a characteristic velocity O ((var e psilon) -1 ) larger than the E x B velocity, where (var e psilon) is the inverse aspect-ratio of a tokamak. During a RF overdrive, the toroidal electric field is anti-parallel to the current. As a consequence, all charged particles, including backward runaway electrons, will drift inward towards the inner wall.

Neoclassical versus Frontier Production Models ? Testing for the Skewness of Regression Residuals

DEFF Research Database (Denmark)

Kuosmanen, T; Fosgerau, Mogens

2009-01-01

The empirical literature on production and cost functions is divided into two strands. The neoclassical approach concentrates on model parameters, while the frontier approach decomposes the disturbance term to a symmetric noise term and a positively skewed inefficiency term. We propose a theoreti......The empirical literature on production and cost functions is divided into two strands. The neoclassical approach concentrates on model parameters, while the frontier approach decomposes the disturbance term to a symmetric noise term and a positively skewed inefficiency term. We propose...... a theoretical justification for the skewness of the inefficiency term, arguing that this skewness is the key testable hypothesis of the frontier approach. We propose to test the regression residuals for skewness in order to distinguish the two competing approaches. Our test builds directly upon the asymmetry...

Evolution of the marketing theory: genesis, conception, periodization

OpenAIRE

M.A. Oklander; T.O. Oklander

2016-01-01

The aim of this article. The article deals with evolution of the marketing theory in it genesis context, modern conception, periodization. Mercantilism, classical and neoclassical political economy, marginalism, institutionalism are distinguished as scientific sources of marketing. One defines that modern marketing conception is a socially responsible marketing form, based on mass individualization, the highest customer value supply, consumer’s problems effective solving. The marketing theory...

Implications of the quasi-neutrality condition for neoclassical transport in stellarators

International Nuclear Information System (INIS)

Beidler, C.D.; Maassberg, H.

2005-01-01

In conventional stellarator neoclassical theory, the transport coefficients are determined so as to satisfy the so-called ambipolarity constraint on the radial particle fluxes but without regard to the additional requirement that the underlying solutions of the kinetic equation also fulfill local quasi-neutrality. This neglect is consistent with the assumption that density, n and electrostatic potential, Φ, are constant on a flux surface and is justified in the literature with analytic scaling arguments which demonstrate that quasi-neutrality introduces variations of n and Φ on a flux surface which have only a modest impact on bulk-plasma transport. The consequences for impurity transport have not been considered. In this contribution, the implications which the quasi-neutrality condition has for neoclassical transport in stellarators are investigated using a version of the General Solution of the Ripple-Averaged Kinetic Equation (GSRAKE) which accounts for the variation of Φ on flux surfaces. Solutions of the kinetic equation which simultaneously fulfill the ambipolarity and the quasi-neutrality conditions are determined iteratively using standard methods for solving systems of non-linear equations, given specified density and temperature profiles for pure hydrogen plasmas. For a conventional heliotron device, it is shown that quasi-neutrality significantly reduces the radial extent of the region in which multiple solutions of the ambipolarity condition can exist. Especially in the plasma periphery, where strong density and temperature gradients are found, the magnitude of the 'ion' root is reduced significantly leading to increased particle and energy fluxes. For strongly drift-optimized stellarators, on the other hand, bulk plasma transport is much less affected. In a small number of cases, the non-linear system of equations produces additional solutions which are not possible when only ambipolarity is enforced, but such cases are rare. Finally, it is

Soviet theories of economic demography: a survey.

Science.gov (United States)

Gregory, P

1983-06-01

At this time Soviet demographic scientists maintain the position that population problems may in fact exist temporarily under socialism but that the planning principle will allow society to resolve population problems, through the use of the administrative, moral, and economic levers (subsidies, government policies, propaganda, education) emphasized by Urlanis (1974) and others. For planners to deal effectively with population management, the determinants of fertility and labor force participation must be established. The foundations of Soviet theories of human capital and fertility were laid by several writers. For the sake of simplicity, these are referred to as the Urlanis-Strumilin model, named after 2 pioneer researchers in Soviet demography and manpower economics. The formulations are based upon the writings of Strumlin (1964) and Urlanis (1974), supplemented by writings of numerous other Soviet researchers. Although their models avoid neoclassical terms such as marginal utility and income and price elasticities, they clearly employ these concepts. The Urlanis-Strumilin model, reduced to its basic elements, is a direct household utility maximizing model. The husband and wife, the household decision makers, must select optimal levels of child "quantity," child "quality," leisure, their own human capital (further education and training), and other goods. The Soviet theory recognizes that an increase in household income will increase relatively the demands for income elastic goods. The model postulates that the demand for child quality is inversely related to the price of children. The price of children is the opportunity cost of children, the major element of which is the income foregone by the mother in the course of childbearing and childrearing. The child quantity demand schedule has elastic and inelastic portions. The marginal utility of the 1st child is great. The marginal utilities of higher order children decline substantially. Families with at least 1

Commentary on “Industrial Pricing: Theory and Mangerial Practice”

OpenAIRE

George E. Cressman , Jr.

1999-01-01

Noble and Gruca (1999, this issue) provide useful insights into the pricing practices managers employ. Their findings indicate managerial pricing practices are heavily dominated by internal, cost-based approaches. Particularly relevant is the absence of value-based pricing practices. Noble and Gruca's findings indicate that the emerging market orientation work has not connected to pricing practice. This work poses a significant challenge for marketing theoreticians and educators: How can mana...

Equilibrium econophysics: A unified formalism for neoclassical economics and equilibrium thermodynamics

Science.gov (United States)

Sousa, Tânia; Domingos, Tiago

2006-11-01

We develop a unified conceptual and mathematical structure for equilibrium econophysics, i.e., the use of concepts and tools of equilibrium thermodynamics in neoclassical microeconomics and vice versa. Within this conceptual structure the results obtained in microeconomic theory are: (1) the definition of irreversibility in economic behavior; (2) the clarification that the Engel curve and the offer curve are not descriptions of real processes dictated by the maximization of utility at constant endowment; (3) the derivation of a relation between elasticities proving that economic elasticities are not all independent; (4) the proof that Giffen goods do not exist in a stable equilibrium; (5) the derivation that ‘economic integrability’ is equivalent to the generalized Le Chatelier principle and (6) the definition of a first order phase transition, i.e., a transition between separate points in the utility function. In thermodynamics the results obtained are: (1) a relation between the non-dimensional isothermal and adiabatic compressibilities and the increase or decrease in the thermodynamic potentials; (2) the distinction between mathematical integrability and optimization behavior and (3) the generalization of the Clapeyron equation.

Institutional economics and economic organisation theory: An integrated approach

NARCIS (Netherlands)

Slangen, L.H.G.; Loucks, L.A.; Slangen, A.H.L.

2008-01-01

This publication presents one of the first attempts to integrate two emerging bodies of economic research: institutional economics and organizational theory. It begins within the framework of neoclassical economics, and then extends the boundaries of this framework to offer answers to questions that

Institutional economics and economic organisation theory : an integrated approach

NARCIS (Netherlands)

Slangen, L.H.G.; Loucks, L.; Slangen, A.H.L.

2008-01-01

This publication presents one of the first attempts to integrate two emerging bodies of economic research: institutional economics and organizational theory. It begins within the framework of neoclassical economics, and then extends the boundaries of this framework to offer answers to questions that

Patients' views on price shopping and price transparency.

Science.gov (United States)

Semigran, Hannah L; Gourevitch, Rebecca; Sinaiko, Anna D; Cowling, David; Mehrotra, Ateev

2017-06-01

Driven by the growth of high deductibles and price transparency initiatives, patients are being encouraged to search for prices before seeking care, yet few do so. To understand why this is the case, we interviewed individuals who were offered access to a widely used price transparency website through their employer. Qualitative interviews. We interviewed individuals enrolled in a preferred provider organization product through their health plan about their experience using the price transparency tool (if they had done so), their past medical experiences, and their opinions on shopping for care. All interviews were transcribed and manually coded using a thematic coding guide. In general, respondents expressed frustration with healthcare costs and had a positive opinion of the idea of price shopping in theory, but 2 sets of barriers limited their ability to do so in reality. The first was the salience of searching for price information. For example, respondents recognized that due to their health plan benefits design, they would not save money by switching to a lower-cost provider. Second, other factors were more important than price for respondents when choosing a provider, including quality and loyalty to current providers. We found a disconnect between respondents' enthusiasm for price shopping and their reported use of a price transparency tool to shop for care. However, many did find the tool useful for other purposes, including checking their claims history. Addressing the barriers to price shopping identified by respondents can help inform ongoing and future price transparency initiatives.

On cost-informed pricing and customer value: a resource-advantage perspective on industrial innovation pricing practices

OpenAIRE

Ingenbleek, Paul; Debruyne, Marion; Frambach, Ruud T.

2001-01-01

By empirically testing a framework of pricing strategies and their determinants in an industrial setting, Noble and Gruca (1999a) help to overcome the lack of empirical validation of pricing theory. In a commentary to the article, Cressman (1999) (1) expresses worries about the high percentage of firms that engages in cost-based pricing; (2) raises a definition question on value-based pricing; and (3) stresses that empirical pricing literature does not provide ideas on successful pricing prac...

Combat Risk and Pay: Theory and Some Evidence

Science.gov (United States)

2011-10-01

1776) theory of compensating differences, and Rosen (1986) devised what has become the standard neoclassical economic theory relating wages to the...I N S T I T U T E F O R D E F E N S E A N A L Y S E S IDA Paper P-4774 October 2011 Combat Risk and Pay: Theory and Some Evidence Curtis J. Simon...OCT 2011 2. REPORT TYPE N/A 3. DATES COVERED - 4. TITLE AND SUBTITLE Combat Risk and Pay: Theory and Some Evidence 5a. CONTRACT NUMBER 5b

Neoclassical resonant-plateau transport in the noncircular equipotential surface of a tandem mirror

International Nuclear Information System (INIS)

Katanuma, I.; Kiwamoto, Y.; Ishii, K.; Yatsu, K.; Miyoshi, S.

1989-01-01

Neoclassical resonant-plateau transport in a minimum-B anchored tandem mirror is calculated in an experimentally observed case where a flux tube of equipotential contours is not circular at the central cell

Formation of neoclassical internal transport barriers under various operational regimes on compact helical system

Energy Technology Data Exchange (ETDEWEB)

Minami, T [National Institute for Fusion Science, 322-6 Oroshi, Toki, Gifu 509-5292 (Japan); Fujisawa, A [National Institute for Fusion Science, 322-6 Oroshi, Toki, Gifu 509-5292 (Japan); Iguchi, H [National Institute for Fusion Science, 322-6 Oroshi, Toki, Gifu 509-5292 (Japan); Nishimura, S [National Institute for Fusion Science, 322-6 Oroshi, Toki, Gifu 509-5292 (Japan); Ida, K [National Institute for Fusion Science, 322-6 Oroshi, Toki, Gifu 509-5292 (Japan); Yokoyama, M [National Institute for Fusion Science, 322-6 Oroshi, Toki, Gifu 509-5292 (Japan); Murakami, S [Department of Nuclear Engineering, Kyoto University, Kyoto (Japan); Yoshimura, Y [National Institute for Fusion Science, 322-6 Oroshi, Toki, Gifu 509-5292 (Japan); Isobe, M [National Institute for Fusion Science, 322-6 Oroshi, Toki, Gifu 509-5292 (Japan); Suzuki, C [National Institute for Fusion Science, 322-6 Oroshi, Toki, Gifu 509-5292 (Japan); Nagaoka, K [National Institute for Fusion Science, 322-6 Oroshi, Toki, Gifu 509-5292 (Japan); Akiyama, T [National Institute for Fusion Science, 322-6 Oroshi, Toki, Gifu 509-5292 (Japan); Yoshinuma, M [National Institute for Fusion Science, 322-6 Oroshi, Toki, Gifu 509-5292 (Japan); Shimizu, A [National Institute for Fusion Science, 322-6 Oroshi, Toki, Gifu 509-5292 (Japan); Takahashi, C [National Institute for Fusion Science, 322-6 Oroshi, Toki, Gifu 509-5292 (Japan); Matsuoka, K [National Institute for Fusion Science, 322-6 Oroshi, Toki, Gifu 509-5292 (Japan); Okamura, S [National Institute for Fusion Science, 322-6 Oroshi, Toki, Gifu 509-5292 (Japan)

2004-05-01

Optimization has been carried out on the operational regime where neoclassical internal transport barriers (N-ITBs) are formed. The condition of the forming N-ITB is sensitive to the location of the electron cyclotron heating resonance zone. A high electron temperature is obtained for the central heating (-2 cm < R{sub resonance} < 2 cm). The variation of the magnetic axis location affects the formation of the N-ITB. The electron and ion temperatures at the magnetic axis location (R{sub ax}) of 94.9 cm are higher than those at 92.1 and 97.4 cm. This result indicates that the neoclassical flux and the created radial electric field are influenced by the magnetic field structure.

Brand the Pricing: Critical Critique

OpenAIRE

Alam Kazmi, Syed Hasnain

2015-01-01

Brand pricing decision models and established theories in the marketing and econometrics focus typically on assuming the symmetric competing businesses. The empirical generalities are key for strategic marketplace planning. The significance of pricing to customer store and brand choices are always regarded as a widely known truth among marketing scholars and explains consumer’s role responding to their psychological representations of price rather than price itself. Scholars have ...

Extended theory of main ion and impurity rotation and bootstrap current in a shear layer

International Nuclear Information System (INIS)

Kim, Y.B.; Hinton, F.L.; St. John, H.; Taylor, T.S.; Wroblewski, D.

1993-11-01

In this paper, standard neoclassical theory has been extended into the shear layer. Main ion and impurity ion rotation velocity and bootstrap current within shear layer in H-mode are discussed. Inside the H-mode shear layer, standard neoclassical theory is not valid since the ion poloidal gyroradius becomes comparable to pressure gradient and electric field gradient scale length. To allow for arbitrary ratio of ρθi/L n and ρθi/L Er a new kinetic theory of main ion species within electric field shear layer has been developed with the assumption that ρθi/R o is still small. As a consequence, both impurity flows and bootstrap current have to be modified. We present modified expressions of impurity flows and bootstrap current are presented neglecting ion temperature gradient. Comparisons with DIII-D measurements are also discussed

Neoclassical resonant-plateau transport in the noncircular equipotential surface of a tandem mirror

International Nuclear Information System (INIS)

Katanuma, I.; Kiwamoto, Y.; Ishii, K.; Yatsu, K.; Miyoshi, S.

1988-07-01

Neoclassical resonant-plateau transport in a minimum-B anchored tandem mirror is calculated in an experimentally observed case that a magnetic flux tube of an equipotential contours is not circular at the central cell. (author)

A Reconsideration of Full-Cost Pricing

OpenAIRE

Nubbemeyer, Elmar

2010-01-01

The wide use of full-cost pricing techniques remains an explanandum in both economics and management accounting theory. This work surveys and develops possible theoretical explanations of this industrial pricing behaviour and analyses some of its implications. By recognition of the widespread use of imperfect cost-plus pricing heuristics, observable pricing behaviour, as well as empirical market-level phenomena, can be explained. Furthermore, methodological aspects of marginalist price the...

The theory of Homo comperiens, the firm’s market price, and the implication for a firm’s profitability

OpenAIRE

Landström, Joachim

2007-01-01

This thesis proposes a theory of inefficient markets that uses limited rational choice as a central trait and I call it the theory of Homo comperiens. The theory limits the alternatives and states that the subjects are aware of and only allow them to have rational preference relations on the limited action set and state set, i.e. limited rationality is introduced. With limited rational choice, I drive a wedge between the market price and the intrinsic value and thus create an arbitrage market...

A utility theory approach for insurance pricing

Directory of Open Access Journals (Sweden)

Mohsen Gharakhani

2015-11-01

Full Text Available Providing insurance contract with “deductible” is beneficial for both insurer and insured. In this paper, we provide a utility modeling approach to handle insurance pricing and evaluate the tradeoff between discount benefit and deductible level. We analyze four different pricing problems of no insurance, full insurance coverage, insurance with β% deductible and insurance with D-dollar deductible based on a given utility function. A numerical example is also used to illustrate some interesting results.

A uniform price auction with locational price adjustments for competitive electricity markets

International Nuclear Information System (INIS)

Ethier, R.; Mount, T.; Schulze, W.; Zimmerman, R.; Thomas, R.

1999-01-01

Competitive electricity markets which rely on centralized dispatch require a mechanism to solicit offers from competing generators. Ideally, such an auction mechanism, provides incentives to submit offers equal to the marginal cost of generation for each generator. Economic theory suggests that the Uniform Price auction is an appropriate institution. However, an efficient implementation of this auction in an electricity context requires that the offers used in the auction reflect the appropriate locational price adjustments for transmission losses and congestion. This paper describes a uniform price auction that incorporates locational price adjustments on a Web-based platform suitable for experimentation. Preliminary results show dramatically different price and revenue results when compared with a simple continuous Discriminative auction. (author)

Valuating Privacy with Option Pricing Theory

Science.gov (United States)

Berthold, Stefan; Böhme, Rainer

One of the key challenges in the information society is responsible handling of personal data. An often-cited reason why people fail to make rational decisions regarding their own informational privacy is the high uncertainty about future consequences of information disclosures today. This chapter builds an analogy to financial options and draws on principles of option pricing to account for this uncertainty in the valuation of privacy. For this purpose, the development of a data subject's personal attributes over time and the development of the attribute distribution in the population are modeled as two stochastic processes, which fit into the Binomial Option Pricing Model (BOPM). Possible applications of such valuation methods to guide decision support in future privacy-enhancing technologies (PETs) are sketched.

Nonlinear response of a neoclassical four-field magnetic reconnection model to localized current drive

International Nuclear Information System (INIS)

Lazzaro, E.; Comisso, L.; Valdettaro, L.

2010-01-01

In tokamaks magnetic islands arise from an unstable process of tearing and reconnecting of helical field lines across rational surfaces. After a linear stage the magnetic instability develops through three characteristic nonlinear stages where increasingly complex topological alterations occur in the form of the magnetic islands. The problem of response of reconnection process to the injection of an external current suitably localized is addressed using a four-field model in a plane slab plasma, with a novel extension to account consistently of the relevant neoclassical effects, such as bootstrap current and pressure anisotropy. The results found have implications on the interpretation of the possible mechanism of present day experimental results on neoclassical tearing modes as well as on the concepts for their control or avoidance.

The dynamics of a neoclassical tearing mode (NTM) influenced by energetic ions on EAST

International Nuclear Information System (INIS)

Li, Erzhong; Xu, L; Shi, T; Zhao, H; Liu, Y; Ti, A; Zhang, J; Huang, J; Shen, B; Lin, S; Qian, J; Gong, X; Hu, L; Igochine, V; White, R; Zhu, Y

2016-01-01

In the 2014 year’s campaign of experimental advanced superconducting tokamak (EAST), a series of Magnetohydrodynamics (MHD) instabilities were observed as the launching of Neutral Beam Injection (NBI), the most interesting one of which is the neoclassical tearing mode (NTM). Evidence clearly shows that a kink mode present after a strong sawtooth-like (ST-like) crash leaves a perturbation near the location of the magnetic island, providing the initial seed. The interaction of energetic ions makes the magnetic island oscillate both in island width and in rotation frequency. Analysis indicates that the bulk plasma still dominates the dynamics of NTM, and the orbit excursion of energetic ions induces a polarization current and modifies the width and rotation frequency of the neoclassical magnetic island. (paper)

Monte Carlo δf simulations of neoclassical phenomena in tokamak plasmas

International Nuclear Information System (INIS)

Bergmann, A.

2002-01-01

Some important neoclassical phenomena are studied with drift-kinetic simulations of the ions: the current which drives neoclassical tearing modes, the bootstrap current at a steep gradient, the energy transport near the axis. The δ f code HAGIS is used with pitch angle collisions modelled by a Monte Carlo procedure. An equilibrium with circular cross section and (for the island modelling) a single helical perturbation is considered, ITER- and AUG-like parameter are used. We find that the bootstrap current in small islands does not vanish, the full current is observed if the island half-width is smaller than the orbit width. The results can explain the scaling of the normalized beta at the onset of the NTMs in ASDEX Upgrade. The polarization current due to the island rotation is studied as well and found to be small. In the banana regime the bootstrap current at a steep pressure profile is reduced if the orbit width exceeds the gradient length. The near axis energy transport is neither reduced nor much enhanced in plateau regime, contrary to the banana regime. (author)

“Dialectical Contradictions” in the Neoclassical Theory and Policy Regarding Market Competition: The Consumer and His Continuos Burden of Crisis

Directory of Open Access Journals (Sweden)

Octavian-Dragomir Jora

2017-05-01

Full Text Available In spite of the apparent general consensus, both economic theory in abstracto and the political practice in the realm of competition are looked upon from (too many perspectives. Far from being convergent or even complementary, the “theories” and “policies” are rather contradictory and conflicting “in” and “between” them. Nominally subsumed to the “consumer welfare”, the praise of competition and of its disciplinary power within the market economy (and twistingly even within the socialist one has experienced between the eras of “classical” and “neoclassical” economic science a subtle transition from the paradigm of “freedom” to that of “perfection”. And the transition was accomplished with a significant risk of loss both in internal consistency and realistic adequacy, which undergo the fictional methodology as well as the mathematical formalism, endemic in the neoclassical approach. The tension inside the theorizing of competition cohabits with the one inside the policies’ camp: the regulations often seem to be at odds with the stated commitment towards the consumers (seen holistically and aggregately. Some of the real “flesh and blood” consumers become in fact passive objects of “pro-competition” coercive rearrangements of welfare in three hypostases that individuals (though unevenly subsume: as “consumers” (of goods and services, as “competitors” (factors of production in labour markets and as “citizens” (asymmetrically hit by the myriad of policies. This paper offers an “original recovery” of a common sense argument: after the mainstream imposition of “perfect” instead of “free” competition standard, the neoclassicism-inspired public policies end up promoting a competition climate heavily strained from both freedom and perfection.

Fusion plasma theory. Task I. Magnetic confinement fusion plasma theory. Annual progress report, January 1, 1982-December 31, 1982

International Nuclear Information System (INIS)

Callen, J.D.

1982-08-01

The research on this contract over the past year has concentrated on some key tandem mirror confinement and heating issues (barrier trapping current, rf heating, low mode number stability) and on developing a comprehensive neoclassical transport theory for nonaxisymmetric toroidal plasmas (e.g., stellarators). Progress in these and some other miscellaneous areas are summarized briefly in this progress report

Benchmark of the local drift-kinetic models for neoclassical transport simulation in helical plasmas

Science.gov (United States)

Huang, B.; Satake, S.; Kanno, R.; Sugama, H.; Matsuoka, S.

2017-02-01

The benchmarks of the neoclassical transport codes based on the several local drift-kinetic models are reported here. Here, the drift-kinetic models are zero orbit width (ZOW), zero magnetic drift, DKES-like, and global, as classified in Matsuoka et al. [Phys. Plasmas 22, 072511 (2015)]. The magnetic geometries of Helically Symmetric Experiment, Large Helical Device (LHD), and Wendelstein 7-X are employed in the benchmarks. It is found that the assumption of E ×B incompressibility causes discrepancy of neoclassical radial flux and parallel flow among the models when E ×B is sufficiently large compared to the magnetic drift velocities. For example, Mp≤0.4 where Mp is the poloidal Mach number. On the other hand, when E ×B and the magnetic drift velocities are comparable, the tangential magnetic drift, which is included in both the global and ZOW models, fills the role of suppressing unphysical peaking of neoclassical radial-fluxes found in the other local models at Er≃0 . In low collisionality plasmas, in particular, the tangential drift effect works well to suppress such unphysical behavior of the radial transport caused in the simulations. It is demonstrated that the ZOW model has the advantage of mitigating the unphysical behavior in the several magnetic geometries, and that it also implements the evaluation of bootstrap current in LHD with the low computation cost compared to the global model.

Study of neoclassical transport in the 1/ν regime for a research fusion reactor

International Nuclear Information System (INIS)

Kalyuzhnyj, V.N.; Kasilov, S.V.; Nemov, V.V.

2005-01-01

In frame of the concept of a steady-state operated research fusion reactor (RFR) in papers [1-4] the RFR with an increased plasma-wall detachment was proposed with the purpose to enable not only the production but also a long-term confinement of a self-sustained plasma at the existing technology level. In connection with complication of the corresponding magnetic configuration an investigation of the neoclassical transport is desirable for such systems. In the present work neoclassical transport for a magnetic configuration of l=2 torsatron type variant of RFR system with an additional opposite toroidal magnetic field is investigated numerically. A so-called 1/ν transport regime, in which the transport coefficients are increased with reduction of particle collision frequency ν is considered. For calculating of transport coefficients a technique, based on integration along magnetic field lines in a given stellarator magnetic field is used. The magnetic field of helical windings is calculated by Biot-Savart law. The obtained transport coefficients are presented in a standard form containing a factor depending on the magnetic field geometry. From analysis of the received results follows that in respect of the neoclassical transport the proposed magnetic configuration turns out to be closer to configuration of the classical stellarator (with helical winding), than to configuration of the classical torsatron/geliotron. (author)

Gyrokinetic Studies on Turbulence-Driven and Neoclassical Nondiffusive Toroidal-Momentum Transport and the Effect of Residual Fluctuations in Strong ExB Shear

International Nuclear Information System (INIS)

Wang, W. X.; Hahm, T. S.; Ethier, S.; Rewoldt, G.; Lee, W. W.; Tang, W. M.; Kaye, S. M.; Diamond, P. H.

2009-01-01

A significant inward flux of toroidal momentum is found in global gyrokinetic simulations of ion temperature gradient turbulence, leading to core plasma rotation spin-up. The underlying mechanism is identified to be the generation of residual stress due to the k parallel symmetry breaking induced by global quasistationary zonal flow shear. Simulations also show a significant off-diagonal element associated with the ion temperature gradient in the neoclassical momentum flux, while the overall neoclassical flux is small. In addition, the residual turbulence found in the presence of strong ExB flow shear may account for neoclassical-level ion heat and anomalous momentum transport widely observed in experiments

A novel turbulence trigger for neoclassical tearing modes in tokamaks

International Nuclear Information System (INIS)

Itoh, Sanae-I.; Yagi, Masatoshi; Itoh, Kimitaka

2003-07-01

Stochastic trigger by microturbulence for neoclassical tearing mode (NTM) is studied. NTM induces topological change of magnetic structure and has subcritical nature. Transition rate of probability density function for and statistically-averaged amplitude of NTM are obtained. Boundary in the phase diagram is determined as the statistical long time average of the transition conditions. NTM can be excited by crossing this boundary even in the absence of other global instabilities. (author)

A Model for Cooperative Advertising and Pricing Decisions in Manufacturer-Retailer Supply Chain with Discount: A Game Theory Approach

Directory of Open Access Journals (Sweden)

Abolfazl Kazemi

2016-02-01

Full Text Available Coordinating the supply chain is among the most important subjects that is extensively addressed in the related literature. If a supply chain is to be coordinated, it is equivalent to say that we must solve a problem related to competition and cooperation. The game theory is obviously one of the most effective methods to solve such problems, in which the players of the supply chain are assumed to engage in cooperative and non-cooperative games. The current study aims to coordinate a two-level supply chain consisting of a manufacturer and a retailer. This will be achieved using cooperative advertisement along with pricing decisions such that the manufacturer offers a price discount to the retailer and the demand is affected by pricing and advertisement. Cooperative advertisement is a coordinated effort made by all the members of the supply chain to increase the customer demand, in which the retailer does the local advertisement and the manufacturer pays for a portion or all the costs of the retailer advertisement. We consider two models for manufacturer-retailer relation using the game theory: the manufacturer-Stackelberg and the retailer-Stackelberg games with asymmetric power distribution.

Psychological prices of branded foods and price rigidity : evidence from German scanner data

OpenAIRE

Herrmann, Roland; Möser, Anke

2004-01-01

There is increasing evidence from scanner data that branded foods in the grocery retailing sector contain a substantial amount of price rigidity (HERRMANN/MÖSER 2003). One of the many alternative explanations for price rigidity is the existence of psychological pricing points. The economic literature has been most hesitant against this theory and, in a survey, BLINDER et al. (1998) found no confirmation at all based on the views of business managers. In that study, however, retail trade is un...

Impacts of Dramatic Theory and Criticism on the Development of ...

African Journals Online (AJOL)

The paper discusses, periscopically, the paradigmatic impacts of critical theory and criticism on the development of drama and theatre through the ages; from the classical periods; through the medieval, the Renaissance, the Romantic, Neoclassical to the modern period of realism and naturalism. It alludes to how each of ...

Neoclassical tearing mode stabilization by ECCD in ITER

International Nuclear Information System (INIS)

Giruzzi, G.; Zabiego, M.

2001-01-01

A dynamic model, based on a 3-D Fokker-Planck code coupled to the island evolution equations, is used to evaluate the feasibility of active control of Neoclassical Tearing modes by Electron Cyclotron Current Drive (ECCD) in International Thermonuclear Experimental Reactor (ITER). The parameters of the present version of ITER, i.e., RTO/RC ITER (IAM option) are used. Both m=3, n=2 and m=2, n=1 modes are considered. It is shown that an Electron Cyclotron wave system at 140 GHz, with toroidally steerable antennas, can stabilize both modes simultaneously if a power ≥30 MW is available

Multi-factor energy price models and exotic derivatives pricing

Science.gov (United States)

Hikspoors, Samuel

The high pace at which many of the world's energy markets have gradually been opened to competition have generated a significant amount of new financial activity. Both academicians and practitioners alike recently started to develop the tools of energy derivatives pricing/hedging as a quantitative topic of its own. The energy contract structures as well as their underlying asset properties set the energy risk management industry apart from its more standard equity and fixed income counterparts. This thesis naturally contributes to these broad market developments in participating to the advances of the mathematical tools aiming at a better theory of energy contingent claim pricing/hedging. We propose many realistic two-factor and three-factor models for spot and forward price processes that generalize some well known and standard modeling assumptions. We develop the associated pricing methodologies and propose stable calibration algorithms that motivate the application of the relevant modeling schemes.

Economically attractive features of steady-state neoclassical reversed field pinch equilibrium with low aspect ratio

International Nuclear Information System (INIS)

Shiina, S.; Yagi, Y.; Sugimoto, H.; Ashida, H.; Hirano, Y.; Koguchi, H.; Sakakita, H.; Taguchi, M.; Nagamine, Y.; Osanai, Y.; Saito, K.; Watanabe, M.; Aizawa, M.

2005-01-01

Dominant plasma self-induced current equilibrium is achieved together with the high β for the steady-state neoclassical reversed field pinch (RFP) equilibrium with low aspect ratio by broadening the plasma pressure profile. The RF-driven current, when the safety factor is smaller than unity, is much less than the self-induced current, which dominates (96%) the toroidal current. This neoclassical RFP equilibrium has strong magnetic shear or a high-stability beta (β t = 63%) due to its hollow current profile. It is shown that the obtained equilibrium is close to the relaxed-equilibrium state with a minimum energy, and is also robust against microinstabilities. These attractive features allow the economical design of compact steady-state fusion power plants with low cost of electricity (COE). (author)

Theory of ion heat transport in tokamaks

International Nuclear Information System (INIS)

Gott, Y.V.; Yurchenko, E.I.

1987-01-01

Experiments which have been carried out in several tokamaks to determine the ion thermal conductivity show that it is several times the value predicted by the neoclassical theory. A possible explanation for this discrepancy is proposed. When the finite width of a banana is taken into account, there are substantial increases in the heat fluxes which stem from the important contribution of superthermal ions to the transport. If the electron diffusive flux is zero, a systematic account of the ions with E>T leads to an ion heat flux with a finite banana width which is two to four times the neoclassical prediction. The effect of the anomalous nature of the electron flux on the ion heat transport is analyzed. An expression is derived for calculating the ion heat transport over the entire range of collision rates

Carbon price volatility: Evidence from EU ETS

International Nuclear Information System (INIS)

Feng, Zhen-Hua; Zou, Le-Le; Wei, Yi-Ming

2011-01-01

This paper examines carbon price volatility using data from the European Union Emission Trading Scheme from a nonlinear dynamics point of view. First, we use a random walk model, including serial correlation and variance ratio tests, to determine whether carbon price history information is fully reflected in current carbon price. The empirical research results show that carbon price is not a random walk: the price history information is not fully reflected in current carbon price. Second, use R/S, modified R/S and ARFIMA to analyse the memory of carbon price history. For the period April 2005-December 2008, the modified Hurst index of the carbon price is 0.4859 and the d value of ARFIMA is -0.1191, indicating short-term memory of the carbon price. Third, we use chaos theory to analyse the influence of the carbon market internal mechanism on carbon price, i.e., the market's positive and negative feedback mechanism and the heterogeneous environment. Chaos theory proves that the correlation dimension of carbon price increases. The maximal Lyapunov exponent is positive and large. There is no obvious complex endogenous phenomenon of nonlinear dynamics the carbon price fluctuation. The carbon market is mildly chaotic, showing both market and fractal market characteristics. Price fluctuation is not only influenced by the internal market mechanism, but is also impacted by the heterogeneous environment. Finally, we provide suggestions for regulation and development of carbon market.

Neoclassical viscosities in NCSX and QPS with few toroidal periods and low aspect ratios

International Nuclear Information System (INIS)

Nishimura, S.; Mikkelsen, D.R.; Ku, L.P.; Mynick, H.E.; Zarnstorff, M.C.; Spong, D.A.; Hirshman, S.P.

2008-01-01

Previously reported benchmarking examples for the analytical formulas of neoclassical viscosities were made implicitly assuming applications in a future integrated simulation system for the LHD (Large Helical Device). Therefore the toroidal period numbers assumed there were mainly N=10. In this kind of calculation, however, an implicit (or sometimes explicit) assumption of ι/N<<1 is sometimes included. This assumption is included not only in simplified bounce averaged drift kinetic equations for ripple diffusions, but also in the equation before the averaging for non-bounce-averaged effects determining neoclassical parallel viscosity and the banana-plateau diffusions. To clarify the applicability of the analytical methods even for configurations with extremely low toroidal period numbers (required for low aspect ratios), we show here recent benchmarking examples in NCSX (National Compact Stellarator Experiment) with N=3 and QPS (Quasi-poloidal Stellarator) with N=2. (author)

Neoclassical parallel flow calculation in the presence of external parallel momentum sources in Heliotron J

Energy Technology Data Exchange (ETDEWEB)

Nishioka, K.; Nakamura, Y. [Graduate School of Energy Science, Kyoto University, Gokasho, Uji, Kyoto 611-0011 (Japan); Nishimura, S. [National Institute for Fusion Science, 322-6 Oroshi-cho, Toki, Gifu 509-5292 (Japan); Lee, H. Y. [Korea Advanced Institute of Science and Technology, Daejeon 305-701 (Korea, Republic of); Kobayashi, S.; Mizuuchi, T.; Nagasaki, K.; Okada, H.; Minami, T.; Kado, S.; Yamamoto, S.; Ohshima, S.; Konoshima, S.; Sano, F. [Institute of Advanced Energy, Kyoto University, Gokasho, Uji, Kyoto 611-0011 (Japan)

2016-03-15

A moment approach to calculate neoclassical transport in non-axisymmetric torus plasmas composed of multiple ion species is extended to include the external parallel momentum sources due to unbalanced tangential neutral beam injections (NBIs). The momentum sources that are included in the parallel momentum balance are calculated from the collision operators of background particles with fast ions. This method is applied for the clarification of the physical mechanism of the neoclassical parallel ion flows and the multi-ion species effect on them in Heliotron J NBI plasmas. It is found that parallel ion flow can be determined by the balance between the parallel viscosity and the external momentum source in the region where the external source is much larger than the thermodynamic force driven source in the collisional plasmas. This is because the friction between C{sup 6+} and D{sup +} prevents a large difference between C{sup 6+} and D{sup +} flow velocities in such plasmas. The C{sup 6+} flow velocities, which are measured by the charge exchange recombination spectroscopy system, are numerically evaluated with this method. It is shown that the experimentally measured C{sup 6+} impurity flow velocities do not contradict clearly with the neoclassical estimations, and the dependence of parallel flow velocities on the magnetic field ripples is consistent in both results.

Alaska North Slope crude oil price and the behavior of diesel prices in California

International Nuclear Information System (INIS)

Adrangi, B.; Chatrath, A.; Raffiee, K.; Ripple, R.

2001-01-01

In this paper we analyze the price dynamics of Alaska North Slope crude oil and L.A. diesel fuel prices. We employ VAR methodology and bivariate GARCH model to show that there is a strong evidence of a uni-directional causal relationship between the two prices. The L.A. diesel market is found to bear the majority of the burden of convergence when there is a price spread. This finding may be seen as being consistent with the general consensus that price discovery emanates from the larger, more liquid market where trading volume is concentrated. The contestability of the West Coast crude oil market tends to cause it to react relatively competitively, while the lack of contestability for the West Coast diesel market tends to limit its competitiveness, causing price adjustment to be slow but to follow the price signals of crude oil. Our findings also suggest that the derived demand theory of input pricing may not hold in this case. The Alaska North Slope crude oil price is the driving force in changes of L.A. diesel price

Price promotions and products with low consumer ratings

OpenAIRE

Kuo, H. C.; Kuo, H. C.; Nakhata, C.; Nakhata, C.

2016-01-01

Previous research indicates the aversive effect of low consumer ratings on consumers’ purchasing decisions. This paper aims to apply decision justifiability theory to investigate how price promotions – price discount and price bundling – can reduce this effect. 517-527.

Neoclassical transport associated with collisionless detrapping in a bumpy torus

International Nuclear Information System (INIS)

Hastings, D.E.

1983-10-01

In the two collisionality nonresonant regime in a bumpy torus the transitional particles can make a large contribution to neoclassical transport. This contribution can be moderated by the toroidally induced radial drift which causes transitional particles to detrap and retrap in the mirror sectors. This effect leads to diffusion coefficients which are linear in the collision frequency and scale with the inverse aspect ratio instead of the more usual square of the inverse aspect ratio. (author)

The dependence of prices on labour-values

Directory of Open Access Journals (Sweden)

Diego Guerrero

2011-06-01

Full Text Available It is frequently believed, in a quite schizophrenic fashion, that a theory of value must just solve the question of “relative prices” (a microeconomic problem, being mainly the theory of money the piece needed for determining the absolute or monetary level of prices (a macroeconomic problem. But on the one hand, the determination of the level of prices is theoretically prior to any consideration of the money market, whereas on the other hand no theory of value can aspire to be complete without the determination of the absolute level of values. It will be shown in this paper that only the Labour theory of value (LTV can perform both tasks, thus giving completeness and unity to economic theory. It is frequently acknowledged that, as labour is—or “is treated as”, as the critics of the LTV say—the only factor of production of value (even if it is just one of the several factors producing wealth, the determination of prices is independent of demand in the long run. However, prices are not determined by technical or physical data plus wages, contrarily to what is commonly thought. It is only the couple formed by “relative prices and the rate of profit” that is determined by them, as well as the couple “relative values and the rate of surplus value”. By contrast, it can be shown that absolute prices crucially depend on, and in fact are determined by, absolute values, what will be illustrated in this paper by means of a numerical example of an economy with only two industries, where for example halving the quantity of labour or value reduces the level of prices by a 50%. The path of thought that will lead us to these conclusions requires previous clarifications of the several and frequently poorly understood Marxian concepts of value (and price, and a new view on the question of the transformation of “value prices” (Marx’s term into “production prices”, both of which will be developed simultaneously with the main line of

Study of neoclassical transport and bootstrap current for W7-X in the 1/upsilon regime, using results from the PIES code

International Nuclear Information System (INIS)

Nemov, V V; Kalyuzhnyj, V N; Kasilov, S V; Drevlak, M; Nuehrenberg, J; Kernbichler, W; Reiman, A; Monticello, D

2004-01-01

For the magnetic field of the Wendelstein 7-X (W7-X) standard high-mirror configuration, computed by the PIES code, taking into account real coil geometry, neoclassical transport and bootstrap current are analysed in the 1/upsilon regime using methods based on the integration along magnetic field lines in a given magnetic field. The zero beta and (beta) = 1% cases are studied. The results are compared to the corresponding results for the vacuum magnetic field directly produced by modular coils. A significant advantage of W7-X over a conventional stellarator resulting from reduced neoclassical transport and from reduced bootstrap current follows from the computations although the neoclassical transport is somewhat larger than that previously obtained for the ideal W7-X model configuration

New evidence on the asymmetry in gasoline price: volatility versus margin?

International Nuclear Information System (INIS)

Abosedra, S.; Radchenko, S.

2006-01-01

This paper examines recent evidence on the role that gasoline margins and volatility play in the asymmetric response of gasoline prices to changes in oil prices at different stages of distribution process. In a regression model with margins, we find that margins are statistically significant in explaining asymmetry between crude oil and spot gasoline prices, spot gasoline prices and wholesale gasoline prices, and wholesale gasoline prices and retail prices. In a regression model with input volatility, we find evidence that volatility is responsible for asymmetry between wholesale gasoline prices and retail gasoline prices. When both, gasoline margins and gasoline volatility are included in the regression, we find evidence supporting margins, the search theory, volatility, the oligopolistic coordination theory and an explanation of asymmetry. (author)

Wages in Labour Market Theories

Directory of Open Access Journals (Sweden)

Kryńska Elżbieta

2015-12-01

Full Text Available Already classical economists took interest in the role of wages and wage formation mechanisms, as well as in their influence on other components of the labour market. This article aims to systematise contemporary approaches to wages as one of the labour market components that have been developed within major economic theories. The systemization will serve as a basis for identifying main interactions between wages and other labour market components, such as labour supply and demand and labour market disequilibrium. The article presents major concepts formulated within neo-classical and Keynesian theories, labour market segmentation theories, efficiency wage theory, rent-sharing and rent-extraction theories, theory of job search, and search-and-matching models. One of the conclusions arising from the discussion is that the evolution of contemporary labour markets is a challenge for researchers seeking wage formation models adequately describing the real-life circumstances.

Price movement in the Brazilian land market (1994-2010: an analysis in the light of post-Keynesian theory

Directory of Open Access Journals (Sweden)

TIAGO SANTOS TELLES

2016-03-01

Full Text Available ABSTRACT The present study aims to evaluate crop, pasture and forest land prices in Brazil, between 1994 and 2010, in the light of Post-Keynesian theory. The results provide evidence that land, more than just a simple factor of production, must be conceived of as an economic asset. In fact, the price of rural land is determined not only by the expected profitability deriving from agricultural activities but also by the agents' expectations about its future appreciation and liquidity in an economic environment permeated with uncertainty. In this context, as an object of speculation, land has been particularly important as a store of value.

Bridging the gap between theory and practice of transmission pricing

International Nuclear Information System (INIS)

Hughes, W.R.; Felak, R.

1996-01-01

The authors describe some strategies for pricing transmission service. Traditionally, wheeling prices have been postage stamp rates based on the level of megawatt demand; a related approach would assign grid costs to customers based on their respective shares of overall megawatt-miles. Innovative regulators have recently approved transmission rates based on opportunity cost of foregone capacity and the incremental costs of additional capacity needed to enable delivery. Others determined prices designed to reflect short-run congestion costs on the grid. The authors assess these pricing approaches and their effects on the distribution of wealth and economic efficiency for both firm and interruptible services. 3 refs

99 cent: Price Points in E-Commerce

OpenAIRE

Franz Hackl; Michael E. Kummer; Rudolf Winter-Ebmer

2010-01-01

Basu (2006) argues that the prevalence of 99 cent prices in shops can be explained with rational consumers who disregard the rightmost digits of the price. This bounded rational behaviour leads to a Bertrand equi- librium with positive markups. We use data from an Austrian price com- parison site and find results highly compatible with Basu's theory. We can show that price points - in particular prices ending in 9 - are preva- lent and have significant impact on consumer demand. Moreover, the...

Pricing Vulnerable Options with Market Prices of Common Jump Risks under Regime-Switching Models

Directory of Open Access Journals (Sweden)

Miao Han

2018-01-01

Full Text Available This paper investigates the valuation of vulnerable European options considering the market prices of common systematic jump risks under regime-switching jump-diffusion models. The way of regime-switching Esscher transform is adopted to identify an equivalent martingale measure for pricing vulnerable European options. Explicit analytical pricing formulae for vulnerable European options are derived by risk-neutral pricing theory. For comparison, the other two cases are also considered separately. The first case considers all jump risks as unsystematic risks while the second one assumes all jumps risks to be systematic risks. Numerical examples for the valuation of vulnerable European options are provided to illustrate our results and indicate the influence of the market prices of jump risks on the valuation of vulnerable European options.

Control of sawteeth and neo-classical tearing modes in tokamaks using electron cyclotron waves

NARCIS (Netherlands)

Baar, M.R. de; Bongers, W.A.; Berkel, M. van; Doelman, N.J.; Hennen, B.A.; Nuij, P.; Oosterbeek, J.W.; Steinbuch, M.; Westerhof, E.; Witvoet, G.

2011-01-01

Resistive magneto-hydrodynamic instabilities are expected to limit the performance of nuclear fusion reactors. Prime examples are the sawtooth instability and the neoclassical tearing modes. The sawtooth instability will affect the refueling of the plasma core and the fast particle concentration. In

Deregulator: Judgment Day for microeconomics

International Nuclear Information System (INIS)

Keen, S.

2004-01-01

The economic theory that motivated the deregulation and privatization of the US electricity industry is seriously flawed in three crucial ways. First, the Marshallian theory of the firm is based on two mathematical errors which, when amended, reverse the accepted welfare rankings of competitive and monopoly industry structures: on the grounds of corrected neoclassical theory, monopoly should be preferred to competition. Second, while proponents of deregulation expected market-clearing equilibrium prices to apply, it is well known that the equilibrium of a system of spot market prices is unstable. This implies that imposing spot market pricing on as basic an industry as electricity is likely to lead to the kind of volatility observed under the deregulation. Third, extensive empirical research has established that on the order of 95% of firms do not produce under conditions of rising marginal cost. Requiring electricity firms to price at marginal cost was therefore likely to lead to bankruptcies, as indeed occurred. The economic preference for marginal cost spot market pricing is therefore theoretically unsound, and it is no wonder that the actual deregulatory experience was as bad as it was. (author)

Deregulator: Judgment Day for microeconomics

Energy Technology Data Exchange (ETDEWEB)

Keen, S. [University of Western Sydney, Penrith (Australia). School of Economics and Finance

2004-09-01

The economic theory that motivated the deregulation and privatization of the US electricity industry is seriously flawed in three crucial ways. First, the Marshallian theory of the firm is based on two mathematical errors which, when amended, reverse the accepted welfare rankings of competitive and monopoly industry structures: on the grounds of corrected neoclassical theory, monopoly should be preferred to competition. Second, while proponents of deregulation expected market-clearing equilibrium prices to apply, it is well known that the equilibrium of a system of spot market prices is unstable. This implies that imposing spot market pricing on as basic an industry as electricity is likely to lead to the kind of volatility observed under the deregulation. Third, extensive empirical research has established that on the order of 95% of firms do not produce under conditions of rising marginal cost. Requiring electricity firms to price at marginal cost was therefore likely to lead to bankruptcies, as indeed occurred. The economic preference for marginal cost spot market pricing is therefore theoretically unsound, and it is no wonder that the actual deregulatory experience was as bad as it was. (author)

Dynamic Oligopoly Pricing: Evidence from the Airline Industry

OpenAIRE

Siegert, Caspar; Ulbricht, Robert

2014-01-01

We explore how pricing dynamics in the European airline industry vary with the competitive environment. Our results highlight substantial variations in pricing dynamics that are consistent with a theory of intertemporal price discrimination. First, the rate at which prices increase towards the scheduled travel date is decreasing in competition, supporting the idea that competition restrains the ability of airlines to price-discriminate. Second, the sensitivity to competition is substantially ...

Effects of finite-β and radial electric fields on neoclassical transport in the Large Helical Device

International Nuclear Information System (INIS)

Kanno, R.; Nakajima, N.; Sugama, H.; Okamoto, M.; Ogawa, Y.

1997-01-01

Effects of finite-β and radial electric fields on the neoclassical transport in the Large Helical Device are investigated with the DKES (Drift Kinetic Equation Solver) code. In the finite-β configuration, even orbits of deeply trapped particles deviate significantly from magnetic flux surfaces. Thus, neoclassical ripple transport coefficients in the finite-β configuration are several times larger than those in the vacuum configuration under the same condition of temperatures and radial electric fields. When the plasma temperature is several keV, a bifurcation of the electric fields appears under the ambipolarity condition, and sufficient large radial electric fields can be generated. As a result, the ExB drift rectifies orbits of particles and improves significantly the transport coefficients in the finite-β configuration. (author)

Using the Theory of Games to Modelling the Equipment and Prices of Car Parking

Science.gov (United States)

Parkitny, Waldemar

2017-10-01

In large cities there are two serious problems connected with increasing number of cars. The first problem is the congestion of vehicles’ movement. The second one is too small of car parks, especially in centres of the cities. Authorities of cities and management of municipal streets introduce limitations in vehicles’ movement and reduce the number of car parks to minimalize streets crowd. That acting seems logical, but this is only the one point of view. From the other point of view municipal governments should aim to improve the level of the occupants’ life and assure the financial incomes, which enable to cover indispensable expenses. From this point of view, the municipal car parks are needed and bringing the profits element of municipal infrastructure. Cracow, which is one of the largest cities in Poland (about 760 thousands of occupants, and Cracovian agglomeration is about 1.4 million persons), was chosen as the object of the investigations. The zone of paid parking in Cracow, administered by the company belonging to city, has possessed 28837 parking places in 28.01.2016. In the zone there are assigned car parks or parking places near to the curbs and on pavements. The zone operates from Monday to Friday, from 10.00 to 20.00. Assuming using car parks only in 50% and fare of about 0.7 euro per hour, we receive incomes figuring out about 740000 euro/month. The purpose of the investigations was the identification of technical parameters of car parks being preferred by drivers. The investigations had been executed by method of questionnaires. Next the mathematical model of competition was made. The model was executed basing on the theory of games. Strategies of “Player 1” were prices and technical equipment of car parks and parking places lying in the zone of paid parking, administered by municipal company. Strategies of “Player 2” were prices and technical equipment of car parks belonging to private owners and two commercial centres in the city

The Contribution of the Neo-Schumpeterian Approach to the Development of the Economic Theory: Emphasis on the Meso-Economic Level

Directory of Open Access Journals (Sweden)

Radu HERMAN

2011-07-01

Full Text Available This article tries to show that there are alternative approaches to the economic theory, besides the well-known economic schools, Classicism, Neoclassicism and Keynesianism. The neoclassical principles allow a formalization – widely accepted by experts – that provide effective tools for measuring the effects of the economic activity. The economic science pays a special attention to the study of the economic agents’ behaviors, and to the economic results obtained by them through economic activity. Any human science uses principles and works with assumptions, and the neoclassical assumptions have generated efficient tools for quantifying the economic outcomes, and for accounting the economic growth. But these hypothesis, such as the assumption of economic agents’ rationality, allow a very limited understanding of the behaviors of economic agents within the markets. The recent invention of the Nuclear Magnetic Resonance device, allowed the emrgence of a new scientific paradigm, the development of neurosciences. Researchers can observe at a high level of graphic detail various types of activities that occur in the human brain, and some economists have introduced in the study of the economic theory, for example, the assumption that the consumer is driven by emotions when purchasing quantities of goods and services. So, economists may look for additional theories to explain the behavior of the economic agents. An increasingly importance is given to the theoretical contributions built on the work of the economist Joseph Alois Schumpeter, who has an original economic approach based on his own principles. It is proposed to focus the attention on a mesoeconomic vision about the industry, to understand how resources are being allocated and reallocated between companies, and to study the economic processes of evolution, which are influenced by the emergence and dissemination of the innovations. It is supposed that the price is allocating the

Pricing decision-making units

OpenAIRE

R F&aauml;re; S Grosskopf; D Margaritis

2013-01-01

In this note we extend the standard DEA paradigm to address the question of how one can price DMUs (decision-making units). To do this we use an adjoint transformation to the technology generated by these DMUs which links to traditional linear programming theory of the firm and is similar to pricing portfolios in financial markets. We also provide a numerical example illustrating the practicality of the proposed method.

Incorporating the value of changes in price volatility into cost-benefit analysis-an application to oil prices in the transport sector

DEFF Research Database (Denmark)

Jensen, Thomas Christian; Møller, Flemming

2010-01-01

in the policy assessment taking into account the most significant correlations between prices of alternative fuels and between fuel prices and consumption in general. In the present paper, a method of valuing changes in price volatility based on portfolio theory is applied to some very simple transport...

Effects of MHD-activity-induced low-n error magnetic fields on the neoclassical viscosities in helical plasmas

International Nuclear Information System (INIS)

Nishimura, Shin

2009-01-01

Effects of the perturbed magnetic field with low toroidal mode numbers (n) are considered. One cause of this type of perturbation, which has recently been studied in tokamaks, is MHD-activities. In helical/stellarator, this low-n perturbation is sometimes artificially added for island diverters. In viewpoint of the neoclassical viscosities, these perturbed magnetic fields affect on both of bounce center drifts of toroidally trapped and ripple-trapped particles. However, in usual neoclassical analyses in helical/stellarator devices assuming periodic magnetic field strength, these effects had not been studied. For future studies in helical/stellarator devices, a method to use bounce-averaged drift kinetic equation for the toroidally trapped particles is proposed. (author)

The Artistic Commitment of Kenyon Cox: An American Neoclassical Artist

OpenAIRE

SMITH, Marc S.

2016-01-01

At the end of the nineteenth century, the United States had undergone deep transformations. The second Industrial Revolution had created huge amounts of new wealth and power. This led to an alteration of the urban social fabric and to a repositioning of the country on the international scene.Since the 1870s, the American Renaissance had been a vehicle for the diffusion of new values and new concepts. As a broad neoclassical movement in the arts, it was committed to a rewriting of the country’...

Forming the Modern Labour Market Economics: On the Role of Institutionalist Theories

Directory of Open Access Journals (Sweden)

Dagmar Brožová

2016-12-01

Full Text Available The growing role of institutions and their influence on the labour market outcomes, i.e., wage rates and labour allocation, has been among the most significant characteristic features of labour markets in recent decades. The labour market economics built its paradigm on the principles of marginalism, which brought suitable instruments for the analysis of market agents’ individual decisions capable of achieving effective solutions. Smith’s “invisible hand” has gradually been limited by institutional interventions – by governments, corporations and trade unions with government legislation, corporate personnel policies and collective bargaining. The expanding regulatory interventions in the labour market and the effort to explain the reality leads inevitably to the fact that the modern labour market economics incorporates more and more institutional theories. The contribution outlines the gradual invasion of neoinstitutional topics and theories into the neoclassical labour market paradigm and it analyses the differences between the neoclassical and institutional interpretation of labour market functioning. It presents the recent discussion on the consequences for the labour market economic theory and formulates a conclusion about the modified labour market economic paradigm.

Saggio di interesse e livello dei prezzi: i paradossi della disinflazione

OpenAIRE

Ginzburg Andrea; Simonazzi Annamaria

1997-01-01

The paper deals with the long run positive relationship between the long term rate of interest and the level of wholesale prices, a relationship dubbed by Keynes the "Gibson Paradox". This correlation, before Keynes, puzzled other important economists such as Wicksell and Fisher, who attempted, in different ways, to reconcile this empirical regularity with marginal theory. Modern variants of these interpretations were suggested by M. Friedman, T. Sargent and others. Recently, a non-neoclassic...

CONSIDERATIONS ON MEASURING PERFORMANCE AND MARKET STRUCTURE

OpenAIRE

Spiridon Cosmin Alexandru

2011-01-01

According to neoclassical theory, the relationship between the price, respectively of marginal cost and market structures, the methods for determining the performance of a firm or of an industry, deviate from the model of perfect competition. Assessing performance involves performing comparisons, reporting that their reference level can be a standard value, or a statistical value which can be a national-regional average, a homogeneous group, or an average value at a market level. Modern theor...

Instability threshold of neoclassical tearing mode, double tearing mode and off-axis sawteeth crash in tokamaks

International Nuclear Information System (INIS)

Li, D.

2001-01-01

The neoclassical and double tearing modes have been analyzed with related new phenomena in the reversed magnetic shear tokamak plasmas. The instability threshold, and the linear and nonlinear evolution are derived for the neoclassical tearing modes. It is found that the perturbed bootstrap current in the resistive layer has a stabilizing effect while the equilibrium bootstrap current in the outer region can destabilize the modes. The dispersion relation is derived for the double tearing mode. It is found that the onset of ''annular crash'' is due to the fast reconnection of the hot and cold islands, triggered by the interaction of both branches. The onset of ''core crash'' is mainly due to the coalescence between the hot islands, triggered by the explosive growth of the inner branch. (author)

Instability threshold of neoclassical tearing mode, double tearing mode and off-axis sawteeth crash in tokamaks

International Nuclear Information System (INIS)

Li Ding

1999-01-01

The neoclassical and double tearing modes have been analyzed with related new phenomena in the reversed magnetic shear tokamak plasmas. The instability threshold, and the linear and nonlinear evolution are derived for the neoclassical tearing modes. It is found that the perturbed bootstrap current in the resistive layer has a stabilizing effect while the equilibrium bootstrap current in the outer region can destabilize the modes. The dispersion relation is derived for the double tearing mode. It is found that the onset of 'annular crash' is due to the fast reconnection of the hot and cold islands, triggered by the interaction of both branches. The onset of 'core crash' is mainly due to the coalescence between the hot islands, triggered by the explosive growth of the inner branch. (author)

Radio frequency induced and neoclassical asymmetries and their effects on turbulent impurity transport in a tokamak

Energy Technology Data Exchange (ETDEWEB)

Pusztai, I. [Applied Physics, Chalmers University of Technology and Euratom-VR Association, SE-41296 Goeteborg (Sweden); Plasma Science and Fusion Center, Massachusetts Institute of Technology, Cambridge, MA 02139 (United States); Landreman, M. [University of Maryland, College Park, MD 20742 (United States); Mollen, A.; Fueloep, T. [Applied Physics, Chalmers University of Technology and Euratom-VR Association, SE-41296 Goeteborg (Sweden); Kazakov, Ye.O. [Laboratory for Plasma Physics, ERM/KMS, Association ' EURATOM-Belgian State' , TEC Partner, BE-1000 Brussels (Belgium)

2014-06-15

Poloidal asymmetries in the impurity density can be generated by radio frequency heating in the core and by neoclassical effects in the edge of tokamak plasmas. In a pedestal case study, using global neoclassical simulations we find that finite orbit width effects can generate significant poloidal variation in the electrostatic potential, which varies on a small radial scale. Gyrokinetic modeling shows that these poloidal asymmetries can be strong enough to significantly modify turbulent impurity peaking. In the pedestal the E x B drift in the radial electric field can give a larger contribution to the poloidal motion of impurities than that of their parallel streaming. Under such circumstances we find that up-down asymmetries can also affect impurity peaking. (copyright 2014 WILEY-VCH Verlag GmbH and Co. KGaA, Weinheim) (orig.)

Some Divergence Properties of Asset Price Models

Directory of Open Access Journals (Sweden)

Wolfgang Stummer

2001-12-01

Full Text Available Abstract: We consider asset price processes Xt which are weak solutions of one-dimensional stochastic differential equations of the form (equation (2 Such price models can be interpreted as non-lognormally-distributed generalizations of the geometric Brownian motion. We study properties of the Iα-divergence between the law of the solution Xt and the corresponding drift-less measure (the special case α=1 is the relative entropy. This will be applied to some context in statistical information theory as well as to arbitrage theory and contingent claim valuation. For instance, the seminal option pricing theorems of Black-Scholes and Merton appear as a special case.

Basic Knowledge for Market Principle: Approaches to the Price Coordination Mechanism by Using Optimization Theory and Algorithm

Science.gov (United States)

Aiyoshi, Eitaro; Masuda, Kazuaki

On the basis of market fundamentalism, new types of social systems with the market mechanism such as electricity trading markets and carbon dioxide (CO2) emission trading markets have been developed. However, there are few textbooks in science and technology which present the explanation that Lagrange multipliers can be interpreted as market prices. This tutorial paper explains that (1) the steepest descent method for dual problems in optimization, and (2) Gauss-Seidel method for solving the stationary conditions of Lagrange problems with market principles, can formulate the mechanism of market pricing, which works even in the information-oriented modern society. The authors expect readers to acquire basic knowledge on optimization theory and algorithms related to economics and to utilize them for designing the mechanism of more complicated markets.

Electricity pricing

International Nuclear Information System (INIS)

Wijayatunga, P.D.C.

1994-01-01

Electricity pricing in most countries, especially in the developing world, has been determined by traditional accounting criteria where it raises revenue requirements to cover the operating costs and a return on past and future capital investments in possible power systems. The use of economic principles to improve the total economic efficiency in the electricity industry is discussed. Basic marginal cost theory, long run marginal costing (LRMC) cost categories and rating periods, marginal capacity costs, marginal energy costs, consumer costs, short run marginal costing (SRMC), marginal cost of fuel, marginal cost of network losses, market clearing price, value of unserved energy and network quality of supply cost are discussed

Wireless network pricing

CERN Document Server

Huang, Jianwei

2013-01-01

Today's wireless communications and networking practices are tightly coupled with economic considerations, to the extent that it is almost impossible to make a sound technology choice without understanding the corresponding economic implications. This book aims at providing a foundational introduction on how microeconomics, and pricing theory in particular, can help us to understand and build better wireless networks. The book can be used as lecture notes for a course in the field of network economics, or a reference book for wireless engineers and applied economists to understand how pricing

Tariff rebalancing and price structure in privatised utilities

International Nuclear Information System (INIS)

Weyman-Jones, T.; Burns, P.

1996-01-01

The document contains the end of award report on research into re-balancing and price structure in privatised utilities, funded by the Economic and Social Science Research Council (ESRC). Ramsey pricing ideas in United Kingdom utilities were modelled under different forms of regulation and cost/price relationships measured. Alternative forms of regulation that permit Ramsey pricing were also evaluated. Option price theory is shown to be central to an understanding of incentive mechanisms and their relationship to regulatory options. (UK)

High Z neoclassical transport: Application and limitation of analytical formulae for modelling JET experimental parameters

NARCIS (Netherlands)

Breton, S.; Casson, F. J.; Bourdelle, C.; Angioni, C.; Belli, E.; Camenen, Y.; Citrin, J.; Garbet, X.; Sarazin, Y.; Sertoli, M.; JET Contributors,

2018-01-01

Heavy impurities, such as tungsten (W), can exhibit strongly poloidally asymmetric density profiles in rotating or radio frequency heated plasmas. In the metallic environment of JET, the poloidal asymmetry of tungsten enhances its neoclassical transport up to an order of magnitude, so that

Extension and comparison of neoclassical models for poloidal rotation in tokamaks

International Nuclear Information System (INIS)

Stacey, W. M.

2008-01-01

Several neoclassical models for the calculation of poloidal rotation in tokamaks were rederived within a common framework, extended to include additional physics and numerically compared. The importance of new physics phenomena not usually included in poloidal rotation calculations (e.g., poloidal electric field, VxB force resulting from enhanced radial particle flow arising from the ionization of recycling neutrals) was examined. Extensions of the Hirshman-Sigmar, Kim-Diamond-Groebner, and Stacey-Sigmar poloidal rotation models are presented

Nematic elastomers: from a microscopic model to macroscopic elasticity theory.

Science.gov (United States)

Xing, Xiangjun; Pfahl, Stephan; Mukhopadhyay, Swagatam; Goldbart, Paul M; Zippelius, Annette

2008-05-01

A Landau theory is constructed for the gelation transition in cross-linked polymer systems possessing spontaneous nematic ordering, based on symmetry principles and the concept of an order parameter for the amorphous solid state. This theory is substantiated with help of a simple microscopic model of cross-linked dimers. Minimization of the Landau free energy in the presence of nematic order yields the neoclassical theory of the elasticity of nematic elastomers and, in the isotropic limit, the classical theory of isotropic elasticity. These phenomenological theories of elasticity are thereby derived from a microscopic model, and it is furthermore demonstrated that they are universal mean-field descriptions of the elasticity for all chemical gels and vulcanized media.

Vertical price leadership : a cointegration analysis

NARCIS (Netherlands)

Kuiper, W.E.; Meulenberg, M.T.G.

2002-01-01

Here we detail a method to test whether or not retailers allow suppliers to set the wholesale price not only on the basis of the costs faced by the suppliers but also on the basis of consumer demand. Using standard theory, long-run price relationships between the stages in the channel are derived.

Impact of European pharmaceutical price regulation on generic price competition: a review.

Science.gov (United States)

Puig-Junoy, Jaume

2010-01-01

Although economic theory indicates that it should not be necessary to intervene in the generic drug market through price regulation, most EU countries intervene in this market, both by regulating the maximum sale price of generics (price cap) and by setting the maximum reimbursement rate, especially by means of reference pricing systems. We analyse current knowledge of the impact of direct price-cap regulation of generic drugs and the implementation of systems regulating the reimbursement rate, particularly through reference pricing and similar tools, on dynamic price competition between generic competitors in Europe. A literature search was carried out in the EconLit and PubMed databases, and on Google Scholar. The search included papers published in English or Spanish between January 2000 and July 2009. Inclusion criteria included that studies had to present empirical results of a quantitative nature for EU countries of the impact of price capping and/or regulation of the reimbursement rate (reference pricing or similar systems) on price dynamics, corresponding to pharmacy sales, in the generic drug market. The available evidence indicates that price-cap regulation leads to a levelling off of generic prices at a higher level than would occur in the absence of this regulation. Reference pricing systems cause an obvious and almost compulsory reduction in the consumer price of all pharmaceuticals subject to this system, to a varying degree in different countries and periods, the reduction being greater for originator-branded drugs than for generics. In several countries with a reference pricing system, it was observed that generics with a consumer price lower than the reference price do not undergo price reductions until the reference price is reduced, even when there are other lower-priced generics on the market (absence of price competition below the reference price). Beyond the price reduction forced by the price-cap and/or reference pricing regulation itself

Theory of tokamak plasmas

Energy Technology Data Exchange (ETDEWEB)

White, R B [Princeton Univ., NJ (USA). Plasma Physics Lab.

1989-01-01

The book covers the consequences of ideal and resistive magnetohydrodynamics, these theories being responsible for most of what is well understood regarding the physics of tokamak discharges. The focus is on the description of equilibria, the linear and nonlinear theory of large scale modes, and single particle guiding center motion, including simple neoclassical effects. modern methods of general magnetic coordinates are used, and the student is introduced to the onset of chaos in Hamiltonian systems in the discussion of destruction of magnetic surfaces. Much of the book is devoted to the description of the limitations placed on tokamak operating parameters given by ideal and resistive modes, and current ideas about how to extend and optimize these parameters. (author). refs.; figs.

Geometrical influences on neoclassical magnetohydrodynamic tearing modes

International Nuclear Information System (INIS)

Kruger, S.E.; Hegna, C.C.; Callen, J.D.

1997-07-01

The influence of geometry on the pressure drives of nonideal magnetohydrodynamic tearing modes is presented. In order to study the effects of elongation, triangularity, and aspect ratio, three different machines are considered to provide a range of tokamak configurations: TFTR (circular), DIII-D (D-shaped), and Pegasus (extremely low aspect ratio). For large aspect ratio tokamaks, shaping does very little to influence the pressure gradient drives, while at low aspect ratios, a very strong sensitivity to the profiles is found. In particular, this sensitivity is connected to the strong dependence on the magnetic shear. This suggests that at low aspect ratio it may be possible to stabilize neoclassical tearing modes by flattening the q profile near low order rational surfaces (e.g., q = 2/1) using a combination of shaping and localized current drive, whereas at large aspect ratio it is more difficult

Development of a neoclassical transport database by neural network fitting in LHD

International Nuclear Information System (INIS)

Wakasa, Arimitsu; Oikawa, Shun-ichi; Murakami, Sadayoshi; Yamada, Hiroshi; Yokoyama, Masayuki; Watanabe, Kiyomasa; Maassberg, Hening; Beidler, Craig D.

2004-01-01

A database of neoclassical transport coefficients for the Large Helical Device is developed using normalized mono-energetic diffusion coefficients evaluated by Monte Carlo simulation code; DCOM. A neural network fitting method is applied to take energy convolutions with the given distribution function, e.g. Maxwellian. The database gives the diffusion coefficients as a function of the collision frequency, the radial electric field and the minor radius position. (author)

Limits to oil pricing: scenario planning as a device to understand oil price developments

International Nuclear Information System (INIS)

Austvik, O.G.

1992-01-01

This paper underlines that the politicizing of the oil market makes economics, politics and even pure warfare important elements in the formation of the price of oil. The disagreement about which theory to use to analyze the market and the bad record of oil price forecasting indicates that conventional oil market models should be critically re-assessed. The scenario planning methodology presented in this paper may be one alternative approach. SP does not overthrow any other theories of the market. But it claims that no single discipline is able to tell the whole truth about the market. The SP approach stresses and clarifies the role of uncertainty in the development of oil prices and underlines the importance of the understanding of the functioning of the market. It argues that without a cross-disciplinary approach, with an adequate choice of parameters, at the right level of in-depth discussion, the analysis may lose essential input or drown in detail. As an example of the methodology, an analysis of development of oil prices in the nineties is presented. It is shown that lower (indicated as 15-20 S/bbl) and upper (indicated as 30-40 S/bbl) limits of the price in the long run can be constructed, based on economic, political and strategic reasoning. It is also argued that short run 'shocks' outside these limits may have become less likely, because: (1) the strategic petroleum reserves (SPR) will cut off the most extreme prices above the upper limit and (2) the existence of a supply side regulator, like OPEC, will prevent prices from dropping below the lower limit for any longer period of time. Sensitivity analysis tests the 'robustness' of the approach. 10 refs., 1 fig

Basic economic principles of road pricing: From theory to applications

NARCIS (Netherlands)

Rouwendal, J.; Verhoef, E.T.

2006-01-01

This paper presents, a non-technical introduction to the economic principles relevant for transport pricing design and analysis. We provide the basic rationale behind pricing of externalities, discuss why simple Pigouvian tax rules that equate charges to marginal external costs are not optimal in

Testing option pricing with the Edgeworth expansion

Science.gov (United States)

Balieiro Filho, Ruy Gabriel; Rosenfeld, Rogerio

2004-12-01

There is a well-developed framework, the Black-Scholes theory, for the pricing of contracts based on the future prices of certain assets, called options. This theory assumes that the probability distribution of the returns of the underlying asset is a Gaussian distribution. However, it is observed in the market that this hypothesis is flawed, leading to the introduction of a fudge factor, the so-called volatility smile. Therefore, it would be interesting to explore extensions of the Black-Scholes theory to non-Gaussian distributions. In this paper, we provide an explicit formula for the price of an option when the distributions of the returns of the underlying asset is parametrized by an Edgeworth expansion, which allows for the introduction of higher independent moments of the probability distribution, namely skewness and kurtosis. We test our formula with options in the Brazilian and American markets, showing that the volatility smile can be reduced. We also check whether our approach leads to more efficient hedging strategies of these instruments.

Domestic and Foreign Effects on Prices in an Open Economy

DEFF Research Database (Denmark)

Juselius, Katarina

1994-01-01

Domestic price determination in Denmark is investigated using three kinds of macro-economic explanations: (1) internal labor mar­ ket theories describing the relation between price and wage inflation, (2) pure monetarist theories describing the effect of excess money on the inflation rate, and (3...... model. The results stand up as quite strong evidence against the Lucas critiqueDomestic price determination in Denmark is investigated using three kinds of macro-economic explanations: (1) internal labor mar­ ket theories describing the relation between price and wage inflation, (2) pure monetarist...... found to be the main determinants of the inflation rate. Among these, the domestic effects were small compared to the foreign effects. The em­ pirical results strongly favored a backward-looking behavioral model in terms of structurally stable parameters as opposed to a forward- looking expectations...

Nonlinear Pricing in Markets with Interdependent Demand

OpenAIRE

Shmuel S. Oren; Stephen A. Smith; Robert B. Wilson

1982-01-01

This paper provides a mathematical framework for modeling demand and determining optimal price schedules in markets which have demand externalities and can sustain nonlinear pricing. These fundamental economic concepts appear in the marketplace in the form of mutual buyers' benefits and quantity discounts. The theory addressing these aspects is relevant to a wide variety of goods and services. Examples include tariffs for electronic communications services, pricing of franchises, and royalty ...

To Save or to Consume: Linking Growth Theory with the Keynesian Model

Science.gov (United States)

Kwok, Yun-kwong

2007-01-01

In the neoclassical growth theory, higher saving rate gives rise to higher output per capita. However, in the Keynesian model, higher saving rate causes lower consumption, which may lead to a recession. Students may ask, "Should we save or should we consume?" In most of the macroeconomics textbooks, economic growth and Keynesian economics are in…

House Price, House Quality and Economic Growth

NARCIS (Netherlands)

De Vries, P.; Boelhouwer, P.J.

2010-01-01

The literature on housing markets suggest that periods of economic growth are characterised by a demand for better housing quality and increasing prices. The basic principles of the theory are that the short-run price fluctuations occur due to market imperfection, while over the long term, causality

Neoclassical and gyrokinetic analysis of time-dependent helium transport experiments on MAST

Science.gov (United States)

Henderson, S. S.; Garzotti, L.; Casson, F. J.; Dickinson, D.; Fox, M. F. J.; O'Mullane, M.; Patel, A.; Roach, C. M.; Summers, H. P.; Valovič, M.; The MAST Team

2014-09-01

Time-dependent helium gas puff experiments have been performed on the Mega Ampère Spherical Tokamak (MAST) during a two point plasma current scan in L-mode and a confinement scan at 900 kA. An evaluation of the He II (n = 4 → 3) spectrum line induced by charge exchange suggests anomalous rates of diffusion and inward convection in the outer regions of both L-mode plasmas. Similar rates of diffusion are found in the H-mode plasma, however these rates are consistent with neoclassical predictions. The anomalous inward pinch found in the core of L-mode plasmas is also not apparent in the H-mode core. Linear gyrokinetic simulations of one flux surface in L-mode using the GS2 and GKW codes find that equilibrium flow shear is sufficient to stabilize ITG modes, consistent with beam emission spectroscopy (BES) observations, and suggest that collisionless TEMs may dominate the anomalous helium particle transport. A quasilinear estimate of the dimensionless peaking factor associated with TEMs is in good agreement with experiment. Collisionless TEMs are more stable in H-mode because the electron density gradient is flatter. The steepness of this gradient is therefore pivotal in determining the inward neoclassical particle pinch and the particle flux associated with TEM turbulence.

Reflection terahertz time-domain imaging for analysis of an 18th century neoclassical easel painting

DEFF Research Database (Denmark)

Dandolo, Corinna Ludovica Koch; Filtenborg, Troels; Fukunaga, Kaori

2015-01-01

Terahertz time-domain imaging (THz-TDI) has been applied for imaging a hidden portrait and other subsurfacecomposition layers of an 18th century (18C) easel painting by Nicolai Abildgaard, the most important 18CDanish neoclassical painter of historical and mythological subjects. For the first time...

Compound Option Pricing under Fuzzy Environment

Directory of Open Access Journals (Sweden)

Xiandong Wang

2014-01-01

Full Text Available Considering the uncertainty of a financial market includes two aspects: risk and vagueness; in this paper, fuzzy sets theory is applied to model the imprecise input parameters (interest rate and volatility. We present the fuzzy price of compound option by fuzzing the interest and volatility in Geske’s compound option pricing formula. For each α, the α-level set of fuzzy prices is obtained according to the fuzzy arithmetics and the definition of fuzzy-valued function. We apply a defuzzification method based on crisp possibilistic mean values of the fuzzy interest rate and fuzzy volatility to obtain the crisp possibilistic mean value of compound option price. Finally, we present a numerical analysis to illustrate the compound option pricing under fuzzy environment.

The substitution bias of the consumer price index

OpenAIRE

Frenger, Petter

2006-01-01

Abstract: The paper uses elementary consumer theory to propose an inflation independent ratio definition of the substitution bias of the Laspeyres consumer price index, and derives an approximate substitution bias which depends on the size of the price change as measured by a norm in the Laspeyres plane and on the elasticity of substitution in the direction of the price change. This norm or distance measure can be interpreted as a price substitution index which yields useful in...

Operation Valuation: Teaching Pricing Concepts in an Experiential Environment

Science.gov (United States)

Mills, Adam J.; Treen, Emily

2016-01-01

Although marketing education has seen a dramatic shift toward hands-on, experiential learning in recent years, the teaching of pricing has fallen behind complementary elements of the marketing mix in pedagogical execution. Although the teaching of pricing has shifted focus from economic-based models to value-based pricing in theory, available…

Current fusion plasma theory grant: Task I, Magnetic confinement fusion plasma theory: Final report, December 1, 1987--November 14, 1988

International Nuclear Information System (INIS)

Callen, J.D.

1988-07-01

The research performed under this grant over the current 11-1/2 month period has concentrated on key tokamak plasma confinement and heating theory issues: extensions of neoclassical MHD; viscosity coefficients and transport; nonlinear resistive MHD simulations of Tokapole II plasmas; ICRF and edge plasma interactions; energy confinement degradation due to macroscopic phenomena; and coordination of a new transport initiative. Progress and publications in these areas are briefly summarized in this report. 21 refs

ELECTRON CYCLOTRON CURRENT DRIVE IN DIII-D: EXPERIMENT AND THEORY

International Nuclear Information System (INIS)

PRATER, R; PETTY, CC; LUCE, TC; HARVEY, RW; CHOI, M; LAHAYE, RJ; LIN-LIU, Y-R; LOHR, J; MURAKAMI, M; WADE, MR; WONG, K-L

2003-01-01

A271 ELECTRON CYCLOTRON CURRENT DRIVE IN DIII-D: EXPERIMENT AND THEORY. Experiments on the DIII-D tokamak in which the measured off-axis electron cyclotron current drive has been compared systematically to theory over a broad range of parameters have shown that the Fokker-Planck code CQL3D provides an excellent model of the relevant current drive physics. This physics understanding has been critical in optimizing the application of ECCD to high performance discharges, supporting such applications as suppression of neoclassical tearing modes and control and sustainment of the current profile

Numeraire Invariance and application to Option Pricing and Hedging

NARCIS (Netherlands)

Jamshidian, F.; Vanmaele, Michèle; Deelstra, Griselda; De Schepper, Ann; Dhaene, Jan; Reynaerts, Huguette; Schoutens, Wim; Van Goethem, Paul

2008-01-01

Numeraire invariance is a well-known technique in option pricing and hedging theory. It takes a convenient asset as the numeraire, as if it were the medium of exchange, and expresses all other asset and option prices in units of this numeraire. Since the price of the numeraire relative to itself is

Statistical microeconomics and commodity prices: theory and empirical results.

Science.gov (United States)

Baaquie, Belal E

2016-01-13

A review is made of the statistical generalization of microeconomics by Baaquie (Baaquie 2013 Phys. A 392, 4400-4416. (doi:10.1016/j.physa.2013.05.008)), where the market price of every traded commodity, at each instant of time, is considered to be an independent random variable. The dynamics of commodity market prices is given by the unequal time correlation function and is modelled by the Feynman path integral based on an action functional. The correlation functions of the model are defined using the path integral. The existence of the action functional for commodity prices that was postulated to exist in Baaquie (Baaquie 2013 Phys. A 392, 4400-4416. (doi:10.1016/j.physa.2013.05.008)) has been empirically ascertained in Baaquie et al. (Baaquie et al. 2015 Phys. A 428, 19-37. (doi:10.1016/j.physa.2015.02.030)). The model's action functionals for different commodities has been empirically determined and calibrated using the unequal time correlation functions of the market commodity prices using a perturbation expansion (Baaquie et al. 2015 Phys. A 428, 19-37. (doi:10.1016/j.physa.2015.02.030)). Nine commodities drawn from the energy, metal and grain sectors are empirically studied and their auto-correlation for up to 300 days is described by the model to an accuracy of R(2)>0.90-using only six parameters. © 2015 The Author(s).

Neoliberalism and global capital mobility: a necessary reconsideration of textbook trade theory

Directory of Open Access Journals (Sweden)

KUNIBERT RAFFER

2015-06-01

Full Text Available Textbook theory ignores capital flows: trade determines exchange rates and specialisation. Approaches taking the effects of capital movements adequately into account are needed, and a new theory of economic policy including measures to protect the real economy from external volatility. Equilibrating textbook mechanisms cannot work unless trade-caused surpluses and deficits set exchange rates. To allow orthodox trade theory to work one must hinder capital flows from destroying its very basis, which the IMF and wrong regulatory decisions have done, penalising production and trade. A new, real economy based theory is proposed, a Neoclassical agenda of controlling capital flows and speculation.

The influence of price endings on consumer behavior: An application of the psychology of perception

OpenAIRE

Asamoah, Emmanuel Selase; Chovancová, Miloslava

2011-01-01

Price ending is an important pricing strategy that has been used by retailers over the years. The trend seems to be effective considering how consumers react especially to products with odd price endings. This review is aimed at providing an understanding of the psychological influences of price ending on buyers, using the theory of perception. It analysis theories and existing literature on the topic and brings out augmentative pricing strategies that retailers can adopt in consumer markets....

The influence of price endings on consumer behaviour: an application of the psychology of perception

OpenAIRE

Emmanuel Selase Asamoah; Miloslava Chovancová

2011-01-01

Price ending is an important pricing strategy that has been used by retailers over the years. The trend seems to be effective considering how consumers react especially to products with odd price endings. This review is aimed at providing an understanding of the psychological influences of price ending on buyers, using the theory of perception. It analysis theories and existing literature on the topic and brings out augmentative pricing strategies that retailers can adopt in consumer markets....

Pushing Economies (and Students) outside the Factor Price Equalization Zone

Science.gov (United States)

Oslington, Paul; Towers, Isaac

2009-01-01

Despite overwhelming empirical evidence of the failure of factor price equalization, most teaching of international trade theory (even at the graduate level) assumes that economies are incompletely specialized and that factor price equalization holds. The behavior of trading economies in the absence of factor price equalization is not well…

The effect of Er on MSE measurements of q, a new technique for measuring Er, and a test of the neoclassical electric field

International Nuclear Information System (INIS)

Zarnstorff, M.C.; Synakowski, E.J.

1996-10-01

Previous analysis of motional-Stark Effect (MSE) data to measure the q-profile ignored contributions from the plasma electric field. The MSE measurements are shown to be sensitive to the electric field and require significant corrections for plasmas with large rotation velocities or pressure gradients. MSE measurements from rotating plasmas on the Tokamak Fusion Test Reactor (TFTR) confirm the significance of these corrections and verify their magnitude. Several attractive configurations are considered for future MSE-based diagnostics for measuring the plasma radial electric field. MSE data from TFTR is analyzed to determine the change in the radial electric field between two plasmas. The measured electric field quantitatively agrees with the predictions of neoclassical theory. These results confirm the utility of a MSE electric field measurement

Internal and external factors on firms? transfer pricing decisions: Insights from organization studies

OpenAIRE

Dan Li; Manuel Portugal Ferreira

2007-01-01

Well understood in economics, accounting, finance, and legal research, transfer pricing has rarely been comprehensively explored in organization management literature. This paper explores some theoretical explanations of transfer pricing within multidivisional firms drawing insights from various organizational theories – primarily institutional theory, transaction cost economics, and social networks – to develop a conceptual model of transfer pricing. This model focuses on the nature of multi...

Neoclassical and gyrokinetic analysis of time-dependent helium transport experiments on MAST

International Nuclear Information System (INIS)

Henderson, S.S.; O'Mullane, M.; Summers, H.P.; Garzotti, L.; Casson, F.J.; Dickinson, D.; Fox, M.F.J.; Patel, A.; Roach, C.M.; Valovič, M.

2014-01-01

Time-dependent helium gas puff experiments have been performed on the Mega Ampère Spherical Tokamak (MAST) during a two point plasma current scan in L-mode and a confinement scan at 900 kA. An evaluation of the He II (n = 4 → 3) spectrum line induced by charge exchange suggests anomalous rates of diffusion and inward convection in the outer regions of both L-mode plasmas. Similar rates of diffusion are found in the H-mode plasma, however these rates are consistent with neoclassical predictions. The anomalous inward pinch found in the core of L-mode plasmas is also not apparent in the H-mode core. Linear gyrokinetic simulations of one flux surface in L-mode using the GS2 and GKW codes find that equilibrium flow shear is sufficient to stabilize ITG modes, consistent with beam emission spectroscopy (BES) observations, and suggest that collisionless TEMs may dominate the anomalous helium particle transport. A quasilinear estimate of the dimensionless peaking factor associated with TEMs is in good agreement with experiment. Collisionless TEMs are more stable in H-mode because the electron density gradient is flatter. The steepness of this gradient is therefore pivotal in determining the inward neoclassical particle pinch and the particle flux associated with TEM turbulence. (paper)

Non-linear effects in electron cyclotron current drive applied for the stabilization of neoclassical tearing modes

NARCIS (Netherlands)

Ayten, B.; Westerhof, E.; ASDEX Upgrade team,

2014-01-01

Due to the smallness of the volumes associated with the flux surfaces around the O-point of a magnetic island, the electron cyclotron power density applied inside the island for the stabilization of neoclassical tearing modes (NTMs) can exceed the threshold for non-linear effects as derived

Price transmission between products at different stages of manufacturing in forest industries

Science.gov (United States)

Mo Zhou; Joseph Buongiorno

2005-01-01

The theory of demand and supply implies a positive relationship, or "price transmission" between the prices of products at different stages of manufacturing, This relationship was investigated with quarterly prices of softwood stumpage in the US South, and national prices of forest products, from 1977 to 2002. All prices, net of inflation, were found to be...

The value of price transparency in residential solar photovoltaic markets

Energy Technology Data Exchange (ETDEWEB)

O’Shaughnessy, Eric; Margolis, Robert

2018-06-01

Installed prices for residential solar photovoltaic (PV) systems have declined significantly in recent years. However price dispersion and limited customer access to PV quotes prevents some prospective customers from obtaining low price offers. This study shows that improved customer access to prices - also known as price transparency - is a potential policy lever for further PV price reductions. We use customer search and strategic pricing theory to show that PV installation companies face incentives to offer lower prices in markets with more price transparency. We test this theoretical framework using a unique residential PV quote dataset. Our results show that installers offer lower prices to customers that are expected to receive more quotes. Our study provides a rationale for policies to improve price transparency in residential PV markets.

Neoclassical toroidal viscosity in perturbed equilibria with general tokamak geometry

Energy Technology Data Exchange (ETDEWEB)

Logan, Nikolas C.; Park, Jong-Kyu; Kim, Kimin; Wang, Zhirui [Plasma Physics Laboratory, Princeton University, Princeton, New Jersey 08543 (United States); Berkery, John W. [Department of Applied Physics and Applied Mathematics, Columbia University, New York, New York 10027 (United States)

2013-12-15

This paper presents a calculation of neoclassical toroidal viscous torque independent of large-aspect-ratio expansions across kinetic regimes. The Perturbed Equilibrium Nonambipolar Transport (PENT) code was developed for this purpose, and is compared to previous combined regime models as well as regime specific limits and a drift kinetic δf guiding center code. It is shown that retaining general expressions, without circular large-aspect-ratio or other orbit approximations, can be important at experimentally relevant aspect ratio and shaping. The superbanana plateau, a kinetic resonance effect recently recognized for its relevance to ITER, is recovered by the PENT calculations and shown to require highly accurate treatment of geometric effects.

A prospect theory explanation of the disposition to trade losing investments for less than market price.

Science.gov (United States)

Johnstone, D J

2002-06-01

Investors have a proven general reluctance to realize losses. The theory of "mental accounting" suggests that losses are easier to accept when mentally integrated with either preceding losses or with compensatory gains. Mental integration is made easier when a failed asset is exchanged against a new, apparently profitable, acquisition. The alternative is to sell the existing asset on the open market before re-investing the proceeds as desired. This is emotionally less appealing than "rolling over" a losing investment into a new venture by way of an asset trade. The psychological benefits of exchanging rather than selling a failed asset come at a cost. It is typical of trade-in arrangements, e.g., where one trades an old car against a new one, that the effective sale price of the existing asset is less than current market value. Acceptance of this low price adds to the investor's total monetary loss on the existing asset but is essential to an overall package deal apart from which that asset would often remain belatedly unsold.

Inflation and House Prices: Theory and Evidence from 35 Major Cities in China

OpenAIRE

Weida Kuang; Peng Liu

2015-01-01

In recent years, housing prices and inflation have been growing constantly in China. Higher house prices and higher inflation affect both household consumption and economic growth. We have developed a four-sector general equilibrium model of consumers, developers, firms, and the central bank to illustrate the relationship of house prices with inflation. The theoretical model demonstrates that house prices and inflation are positively correlated and endogenously determined. By using panel data...

Inflazione e prezzi relativi (Neutrality of inflation

Directory of Open Access Journals (Sweden)

F. PADOA-SCHIOPPA

2014-03-01

Full Text Available In the traditional Walrasian version of an economy with multi-sectoral exchange, the changes in relative prices and the general level of prices do not influence each other so that inflation is neutral. Various empirical studies in recent times, however, have invalidated this thesis. Unfortunately, they have not provided a well-defined alternative theoretical model, able to explain the formation of prices and rates of inflation in a context of multi-sectoral equilibrium (or disequilibrium. Therefore, some modern versions of neoclassical theory that seem to provide a multi-sectoral analytical foundation to the observed correlation between the dynamics of relative prices and the general level of prices are particularly worthy of interest. Their detailed examination, considered appropriate for both the novelty and complexity of the arguments, and their empirical data on the last two decades in Italy are the subject of the present work. JEL: E31

The Demand for Child Care Quality. An Hedonic Price Theory Approach.

Science.gov (United States)

Hagy, Alison P.

1998-01-01

An implicit price for child care staff-to-child ratio was used to study demand for child care quality. Direct purchase-of-service contracts or vouchers, which subsidize only providers meeting state regulations, effectively lower implicit price and have little influence on the demand for quality. (Author/SK)

Strategy for the expansion of renewable energies. An investigation of the pricing strategy of the Renewable Energy Law from the viewpoint of an evolutionary cybernetic theory of economic policy

International Nuclear Information System (INIS)

Schlueter, Fabian

2015-01-01

This publication reports on how the steadily increasing costs caused by the Renewable Energy Law (EEG) have brought the German strategy for the expansion of renewable energies under criticism. According to theories of regulatory economic policy, which state that politico-economic incentives of this kind must necessarily result in an inefficient allocation of scarce resources, this cost increase can be interpreted as a direct consequence of the price intervention. The present publication takes a critical stance on this viewpoint, developing for its purpose a new position on regulatory policy referred to as the evolutionary cybernetic theory of economic policy. It starts out from the works of F.A. von Hayek, which it then takes a significant step further however. The author argues that price interventions can be meaningful strategies of economic policy as long as they are aimed at a temporary initiation of market development towards sustainability and efficiency. Based on this model conception of a shrewd pricing strategy the publication undertakes an analysis from the perspective of regulatory policy of the German subsidisation of renewable energies. In the process it not only reveals errors in design of the EEG but also makes a proposal for an amendment that could be effective in cutting through the present price dynamics. In presenting its recommendation of a self-steering expansion policy the publication not only contributes to the further development of an evolutionary cybernetic theory of economic policy but addresses the urgent problem of how to wisely use regulatory policy to create pricing strategies which serve the expansion of renewable energies.

Oil prices without OPEC: a walk on the supply-side

Energy Technology Data Exchange (ETDEWEB)

Roumasset, J.; Isaak, D.; Fesharaki, F.

1983-07-01

The rapid increases of oil prices during the 1970s are commonly regarded as prima facie evidence of monopoly power. This paper applies the theory of exhaustible resources to estimate the equilibrium oil prices (also known as efficiency prices) which would have prevailed in the absence of monopoly profits. The theory incorporates an extraction cost function wherein cost is a rising function of the cumulative amount of oil extracted. The model is used to simulate efficiency price paths under a variety of assumptions about extraction costs and real interest rates which are representative of perceptions at various times in recent history. These simulations show that the price increases of 1974 and 1979 to 1980 can be explained as a response to supply-side changes, especially changes in the perceived cost of the backstop technology and the fall in real interest rates in the mid and late 1970s. Thus, while efficiency prices were high in the 1970s, relative to extraction costs, it is plausible that average monopoly profits were negligible. This situation appears to have changed in the early 1980s due to the return of real interest rates to their historic levels. In early 1982, even spot prices, already below official prices, were substantially above the estimated efficiency or competitive price level. On the other hand, efficiency prices remain far above extraction costs. Thus, even if the price-setting power of OPEC were eroded by competition, the real price of oil would not fall below the level established in 1974. 18 references, 1 figure, 2 tables.

PRICE AND PRICING STRATEGIES

OpenAIRE

SUCIU Titus

2013-01-01

In individual companies, price is one significant factor in achieving marketing success. In many purchase situations, price can be of great importance to customers. Marketers must establish pricing strategies that are compatible with the rest of the marketing mix. Management should decide whether to charge the same price to all similar buyers of identical quantities of a product (a one-price strategy) or to set different prices (a flexible price strategy). Many organizations, especially retai...

Test of arbitrage pricing theory using macroeconomic variables

African Journals Online (AJOL)

Eyerusalem

variables; namely, exchange rate, an index of industrial production, nominal money supply ... Key Words: Arbitrage Pricing, Macroeconomic variables, Stock Market ... or theoretical market indices, where sensitivity to changes in each factor is represented ... Ethiopian Journal of Economics, Volume XXI, No 1, April 2012. 3.

Sustainablegrowth theories

International Nuclear Information System (INIS)

Nobile, G.

1993-07-01

With reference to highly debated sustainable growth strategies to counter pressing interrelated global environmental and socio-economic problems, this paper reviews economic and resource development theories proposed by classical and neoclassical economists. The review evidences the growing debate among public administration decision makers regarding appropriate methods to assess the worth of natural resources and ecosystems. Proposed methods tend to be biased either towards environmental protection or economic development. Two major difficulties in the effective implementation of sustainable growth strategies are also evidenced - the management of such strategies would require appropriate revisions to national accounting systems, and the dynamic flow of energy and materials between an economic system and the environment would generate a sequence of unstable structures evolving in a chaotic and unpredictable way

Detecting Chaos from Agricultural Product Price Time Series

Directory of Open Access Journals (Sweden)

Xin Su

2014-12-01

Full Text Available Analysis of the characteristics of agricultural product price volatility and trend forecasting are necessary to formulate and implement agricultural price control policies. Taking wholesale cabbage prices as an example, a multiple test methodology has been adopted to identify the nonlinearity, fractality, and chaos of the data. The approaches used include the R/S analysis, the BDS test, the power spectra, the recurrence plot, the largest Lyapunov exponent, the Kolmogorov entropy, and the correlation dimension. The results show that there is chaos in agricultural wholesale price data, which provides a good theoretical basis for selecting reasonable forecasting models as prediction techniques based on chaos theory can be applied to forecasting agricultural prices.

High-Q Photonic-Crystal Cavities for Light Amplification and Lasing

Science.gov (United States)

2011-06-10

Neoclassical Theory of Electric Charges", to appear in Discrete and Continuous Dynamical Systems, Vol. 27, Number 4, August 2010. - A. Figotin, I...dynamics of PDE", ICMS, Edinburgh, September, 2010 - A. Figotn and A. Babin, "Some Mathematical Problems in a Neoclassical Theory of Electric Charges...34, Weizmann Institute, Rehovot, Israel, August, 2010. - A. Figotn and A. Babin, "Some Mathematical Problems in a Neoclassical Theory of Electric

Pricing effects on food choices.

Science.gov (United States)

French, Simone A

2003-03-01

Individual dietary choices are primarily influenced by such considerations as taste, cost, convenience and nutritional value of foods. The current obesity epidemic has been linked to excessive consumption of added sugars and fat, as well as to sedentary lifestyles. Fat and sugar provide dietary energy at very low cost. Food pricing and marketing practices are therefore an essential component of the eating environment. Recent studies have applied economic theories to changing dietary behavior. Price reduction strategies promote the choice of targeted foods by lowering their cost relative to alternative food choices. Two community-based intervention studies used price reductions to promote the increased purchase of targeted foods. The first study examined lower prices and point-of-purchase promotion on sales of lower fat vending machine snacks in 12 work sites and 12 secondary schools. Price reductions of 10%, 25% and 50% on lower fat snacks resulted in an increase in sales of 9%, 39% and 93%, respectively, compared with usual price conditions. The second study examined the impact of a 50% price reduction on fresh fruit and baby carrots in two secondary school cafeterias. Compared with usual price conditions, price reductions resulted in a four-fold increase in fresh fruit sales and a two-fold increase in baby carrot sales. Both studies demonstrate that price reductions are an effective strategy to increase the purchase of more healthful foods in community-based settings such as work sites and schools. Results were generalizable across various food types and populations. Reducing prices on healthful foods is a public health strategy that should be implemented through policy initiatives and industry collaborations.

Interaction between the neoclassical equilibrium and microturbulence in gyrokinetic simulations

Energy Technology Data Exchange (ETDEWEB)

Oberparleiter, Michael

2015-07-10

For the application of the nuclear fusion of hydrogen as a heat source for electricity generation understanding of the magnetic fuel confinement is crucial. Most of the cross-field transport in modern-day tokamaks is carried by turbulence driven by steep pressure gradients. Background neoclassical transport, however, provides a steady level of cross-field flux even in cases when turbulence becomes weak or suppressed. The goal of this work is to quantify how neoclassical (NC) effects and turbulence can influence each other. For this purpose the nonlinear gyrokinetic turbulence code GENE is employed. Firstly, its ability to self-consistently calculate the NC radial electric field is successfully benchmarked against the radial force balance equation and NC transport in the plasma region close to the center of a tokamak is studied. In the next step a model system where a long-wavelength external potential is imposed on ion temperature gradient-driven (ITG) turbulence is investigated. It is found that the self-generated shear flow pattern of the turbulence adapts to the imposed pattern and a small external shear is sufficient to notably reduce turbulent transport. Motivated by this global ITG simulations with fixed pressure gradient profiles are performed with and without inclusion of NC effects. Their comparison reveals that the NC field enhances turbulent transport by 20-30 % for a ratio of ion gyroradius and device radius larger than 1/300. An explanation is that the NC field aligns a region of low shear with the maximum of the gradient profile where the turbulent drive is strongest. Further investigation reveals that NC effects also change the dependence of the system on collisionality or safety factor. Finally, in physically more comprehensive simulations with fixed power input and a self-consistently evolving temperature profile, the additional NC transport channel is found to reduce the frequency and amplitude of intermittent turbulent transport bursts.

The energy price equivalence of carbon taxes and emissions trading—Theory and evidence

International Nuclear Information System (INIS)

Chiu, Fan-Ping; Kuo, Hsiao-I.; Chen, Chi-Chung; Hsu, Chia-Sheng

2015-01-01

Highlights: • The price equivalence of carbon taxes and emissions trading from theoretical and empirical models are developed. • The theoretical findings show that the price effects of these two schemes depend on the market structures. • Energy prices under a carbon tax is lower than an issions trading in an imperfectly competitive market. • A case study from Taiwan gasoline market is applied here. - Abstract: The main purpose of this study is to estimate the energy price equivalence of carbon taxes and emissions trading in an energy market. To this end, both the carbon tax and emissions trading systems are designed in the theoretical model, while alternative market structures are taken into consideration. The theoretical findings show that the economic effects of these two schemes on energy prices depend on the market structures. Energy prices are equivalent between these two schemes given the same amount of greenhouse gas emissions (GHGE) reduction when the market structure is characterized by perfect competition. However, energy prices will be lower when a carbon tax is introduced than when emissions trading is implemented in an imperfectly competitive market, which implies that the price effects of a carbon tax and emissions trading depend on the energy market structure. Such a theoretical basis is applied to the market for gasoline in Taiwan. The empirical results indicate that the gasoline prices under a carbon tax are lower than under emissions trading. This implies that the structure of the energy market needs to be examined when a country seeks to reduce its GHGE through the implementation of either a carbon tax or emissions trading.

Forward curves, scarcity and price volatility in oil and natural gas markets

International Nuclear Information System (INIS)

Geman, Helyette; Ohana, Steve

2009-01-01

The role of inventory in explaining the shape of the forward curve and spot price volatility in commodity markets is central in the theory of storage developed by Kaldor [Kaldor, N. (1939) ''Speculation and Economic Stability'', The Review of Economic Studies 7, 1-27] and Working [Working, H. (1949) ''The theory of the price of storage'', American Economic Review, 39, 1254-1262] and has since been documented in a vast body of financial literature, including the reference paper by Fama and French [Fama, E.F. and K.R. French (1987) ''Commodity futures prices: some evidence on forecast power, premiums and the theory of storage'', Journal of Business 60, 55-73] on metals. The goal of this paper is twofold: 1. validate in the case of oil and natural gas the use of the slope of the forward curve as a proxy for inventory (the slope being defined in a way that filters out seasonality); 2. analyze directly for these two major commodities the relationship between inventory and price volatility. In agreement with the theory of storage, we find that: 1. the negative correlation between price volatility and inventory is globally significant for crude oil; 2. this negative correlation prevails only during those periods of scarcity when the inventory is below the historical average and increases importantly during the winter periods for natural gas. Our results are illustrated by the analysis of a 15 year-database of US oil and natural gas prices and inventory. (author)

Application of quantum master equation for long-term prognosis of asset-prices

Science.gov (United States)

Khrennikova, Polina

2016-05-01

This study combines the disciplines of behavioral finance and an extension of econophysics, namely the concepts and mathematical structure of quantum physics. We apply the formalism of quantum theory to model the dynamics of some correlated financial assets, where the proposed model can be potentially applied for developing a long-term prognosis of asset price formation. At the informational level, the asset price states interact with each other by the means of a ;financial bath;. The latter is composed of agents' expectations about the future developments of asset prices on the finance market, as well as financially important information from mass-media, society, and politicians. One of the essential behavioral factors leading to the quantum-like dynamics of asset prices is the irrationality of agents' expectations operating on the finance market. These expectations lead to a deeper type of uncertainty concerning the future price dynamics of the assets, than given by a classical probability theory, e.g., in the framework of the classical financial mathematics, which is based on the theory of stochastic processes. The quantum dimension of the uncertainty in price dynamics is expressed in the form of the price-states superposition and entanglement between the prices of the different financial assets. In our model, the resolution of this deep quantum uncertainty is mathematically captured with the aid of the quantum master equation (its quantum Markov approximation). We illustrate our model of preparation of a future asset price prognosis by a numerical simulation, involving two correlated assets. Their returns interact more intensively, than understood by a classical statistical correlation. The model predictions can be extended to more complex models to obtain price configuration for multiple assets and portfolios.

Imputed prices of greenhouse gases and land forests

International Nuclear Information System (INIS)

Uzawa, Hirofumi

1993-01-01

The theory of dynamic optimum formulated by Maeler gives us the basic theoretical framework within which it is possible to analyse the economic and, possibly, political circumstances under which the phenomenon of global warming occurs, and to search for the policy and institutional arrangements whereby it would be effectively arrested. The analysis developed here is an application of Maeler's theory to atmospheric quality. In the analysis a central role is played by the concept of imputed price in the dynamic context. Our determination of imputed prices of atmospheric carbon dioxide and land forests takes into account the difference in the stages of economic development. Indeed, the ratios of the imputed prices of atmospheric carbon dioxide and land forests over the per capita level of real national income are identical for all countries involved. (3 figures, 2 tables) (Author)

Prices and Price Setting

NARCIS (Netherlands)

R.P. Faber (Riemer)

2010-01-01

textabstractThis thesis studies price data and tries to unravel the underlying economic processes of why firms have chosen these prices. It focuses on three aspects of price setting. First, it studies whether the existence of a suggested price has a coordinating effect on the prices of firms.

Evolution of the European gas market on the long term. Organisation and price

International Nuclear Information System (INIS)

Ouvry, V.

1998-01-01

The objective of this work is to shed light upon the future organization of the European gas market with an emphasis on price matters. There are nowadays few producers of gas on the market, most of whom hold long-term contracts with gas companies. Gas pricing is based on the net-back principle. The actual debate on liberalization of the gas market and the growing pressure from industrial customers to obtain lower prices addresses the problem of the future organisation of the market and the potential impact of the introduction of third party access. We first analyse the main actors of the gas market, their strategy and the actual market organization market. Two different logics are considered hereunder: a market approach: the competition theory provides efficient tools to analyse the evolution of competition depending on numerous factors. It appears that the strategy of all actors and particularly of producers will be the main determinant of the future competition. The oligopoly theory includes oligopolistic behaviours modelizations. The application of the Cournot's model leads to prices ranging from 1,6 to 3,7 $/MBtu; a contractual approach: today, gas is essentially exchanged through long term contracts, which allow for long-term management of investments and supply security. Two operators negotiate the price, which ultimately mirrors their respective leverage. The transaction cost theory clearly shows the necessity of including transaction costs, especially when optimizing the duration of the contract. The gas prices escalation is nowadays partially obsolete and unadapted to customer needs. Escalation on coal, electricity price or inflation should soon be considered. The theories of negotiation highlight the importance of the operators' marketing power during gas price fixation Applying Nash and Harsanyi-Selten's negotiation models results in a scale of 2,4 to 3,5 $/MBtu of the gas price at the actual supply and demand conditions. Both approaches lead to similar

Links between economic and financial theory in graduate health administration education.

Science.gov (United States)

Pink, G H; Coyte, P C

1989-01-01

The curricula of graduate health administration programs have, historically, not articulated the theoretical links between health economics and health finance, although an understanding of these links could enhance comprehension of both disciplines. We provide a pedagogical approach that can be used to clarify these interconnections. It compares the standard neoclassical microeconomic concept of the hospital with the financial concept of the hospital, for the purpose of relating the optimal output decision in microeconomic theory to the optimal investment decision in financial theory. This approach can be taught in an advanced course in either economics or finance.

Establishment of Grain Farmers' Supply Response Model and Empirical Analysis under Minimum Grain Purchase Price Policy

OpenAIRE

Zhang, Shuang

2012-01-01

Based on farmers' supply behavior theory and price expectations theory, this paper establishes grain farmers' supply response model of two major grain varieties (early indica rice and mixed wheat) in the major producing areas, to test whether the minimum grain purchase price policy can have price-oriented effect on grain production and supply in the major producing areas. Empirical analysis shows that the minimum purchase price published annually by the government has significant positive imp...

Research on the pricing system of online nuclear power

International Nuclear Information System (INIS)

Xu Dan

2010-01-01

National Development and Reform Commission Issues 'Long-term Nuclear Power Development Plan (2005-2020)' in October, 2007. It is the milestone for great development of the nuclear power plant. By the end of the first half of 2009, the nuclear power companies, mainly leading by CNNC and CGNPC, are busy in expanding the new project investment scale of the nuclear power. They gradually initialize the enormous nuclear investment in Zhejiang, Liaoning, Shandong, Guangxi Province and some other place. Along with the development of the nuclear plant and the reformation of the electricity price, the online electricity price of the nuclear power plant will likely be revised. How long will the price policy of 'One to one price' for each type of plant be hold? How will the online electricity price be set in the future? What kind of theories will be followed in the new pricing policy? And what kind of influence will it have on the operating and constructing nuclear power plants? All these will be the problem to the nuclear power plant. There are a lot of uncertainties in front of the nuclear power enterprise in the future. The article analyzes the cost structure of the nuclear power enterprise. Based on the price theory of the market economy, and after benchmarking with the coal power and some other industries, the article studies the future pricing policy of the nuclear power enterprise. And the article analyzes the future management risk of the nuclear power enterprise after the pricing policy reformation. And through the management improvement, the nuclear power company could response effectively to the price regulation, and minimize the uncertainty caused by the pricing policy reformation to the enterprise operation and management. (author)

Neoclassical transport of impurtities in tokamak plasmas

International Nuclear Information System (INIS)

Hirshman, S.P.; Sigmar, D.J.

1981-05-01

Tokamak plasmas are inherently comprised of multiple ion species. This is due to wall-bred impurities and, in future reactors, will result from fusion-born alpha particles. Relatively small concentrations of highly charged non-hydrogenic impurities can strongly influence plasma transport properties whenever n/sub I/e/sub I/ 2 /n/sub H/e 2 greater than or equal to (m/sub e//m/sub H/)/sup 1/2/. The determination of the complete neoclassical Onsager matrix for a toroidally confined multispecies plasma, which provides the linear relation between the surface averaged radial fluxes and the thermodynamic forces (i.e., gradients of density and temperature, and the parallel electric field), is reviewed. A closed set of one-dimensional moment equations is presented for the time evolution of thermodynamic and magnetic field quantities which results from collisional transport of the plasma and two dimensional motion of the magnetic flux surface geometry. The effects of neutral beam injection on the equilibrium and transport properties of a toroidal plasma are consistently included

An Analytic Approach to Developing Transport Threshold Models of Neoclassical Tearing Modes in Tokamaks

International Nuclear Information System (INIS)

Mikhailovskii, A.B.; Shirokov, M.S.; Konovalov, S.V.; Tsypin, V.S.

2005-01-01

Transport threshold models of neoclassical tearing modes in tokamaks are investigated analytically. An analysis is made of the competition between strong transverse heat transport, on the one hand, and longitudinal heat transport, longitudinal heat convection, longitudinal inertial transport, and rotational transport, on the other hand, which leads to the establishment of the perturbed temperature profile in magnetic islands. It is shown that, in all these cases, the temperature profile can be found analytically by using rigorous solutions to the heat conduction equation in the near and far regions of a chain of magnetic islands and then by matching these solutions. Analytic expressions for the temperature profile are used to calculate the contribution of the bootstrap current to the generalized Rutherford equation for the island width evolution with the aim of constructing particular transport threshold models of neoclassical tearing modes. Four transport threshold models, differing in the underlying competing mechanisms, are analyzed: collisional, convective, inertial, and rotational models. The collisional model constructed analytically is shown to coincide exactly with that calculated numerically; the reason is that the analytical temperature profile turns out to be the same as the numerical profile. The results obtained can be useful in developing the next generation of general threshold models. The first steps toward such models have already been made

Real Time Pricing and the Real Live Firm

Energy Technology Data Exchange (ETDEWEB)

Moezzi, Mithra; Goldman, Charles; Sezgen, Osman; Bharvirkar, Ranjit; Hopper, Nicole

2004-05-26

Energy economists have long argued the benefits of real time pricing (RTP) of electricity. Their basis for modeling customers response to short-term fluctuations in electricity prices are based on theories of rational firm behavior, where management strives to minimize operating costs and optimize profit, and labor, capital and energy are potential substitutes in the firm's production function. How well do private firms and public sector institutions operating conditions, knowledge structures, decision-making practices, and external relationships comport with these assumptions and how might this impact price response? We discuss these issues on the basis of interviews with 29 large (over 2 MW) industrial, commercial, and institutional customers in the Niagara Mohawk Power Corporation service territory that have faced day-ahead electricity market prices since 1998. We look at stories interviewees told about why and how they respond to RTP, why some customers report that they can't, and why even if they can, they don't. Some firms respond as theorized, and we describe their load curtailment strategies. About half of our interviewees reported that they were unable to either shift or forego electricity consumption even when prices are high ($0.50/kWh). Reasons customers gave for why they weren't price-responsive include implicit value placed on reliability, pricing structures, lack of flexibility in adjusting production inputs, just-in-time practices, perceived barriers to onsite generation, and insufficient time. We draw these observations into a framework that could help refine economic theory of dynamic pricing by providing real-world descriptions of how firms behave and why.

A model for the neoclassical toroidal viscosity effect on Edge plasma toroidal rotation

Energy Technology Data Exchange (ETDEWEB)

Miron, I.G. [National Institute for Laser, Plasma and Radiation Physics, Euratom-MEdC Association, Bucharest (Romania)

2013-11-15

A semianalytic expression for the edge plasma angular toroidal rotation frequency that includes the neoclassical toroidal viscosity braking influence is obtained. Based on the model presented in a previous paper [I.G. Miron, Contrib. Plasma Phys. 53, 214 (2013)], the less destabilizing error field spectrum is found in order to minimize the nonlinear effect of the NTV on the toroidal rotation of the edge of the plasma. (copyright 2013 WILEY-VCH Verlag GmbH and Co. KGaA, Weinheim) (orig.)

On the Black-Scholes European Option Pricing Model Robustness and Generality

Science.gov (United States)

Takada, Hellinton Hatsuo; de Oliveira Siqueira, José

2008-11-01

The common presentation of the widely known and accepted Black-Scholes European option pricing model explicitly imposes some restrictions such as the geometric Brownian motion assumption for the underlying stock price. In this paper, these usual restrictions are relaxed using maximum entropy principle of information theory, Pearson's distribution system, market frictionless and risk-neutrality theories to the calculation of a unique risk-neutral probability measure calibrated with market parameters.

Production Functions for Water Delivery Systems: Analysis and Estimation Using Dual Cost Function and Implicit Price Specifications

Science.gov (United States)

Teeples, Ronald; Glyer, David

1987-05-01

Both policy and technical analysis of water delivery systems have been based on cost functions that are inconsistent with or are incomplete representations of the neoclassical production functions of economics. We present a full-featured production function model of water delivery which can be estimated from a multiproduct, dual cost function. The model features implicit prices for own-water inputs and is implemented as a jointly estimated system of input share equations and a translog cost function. Likelihood ratio tests are performed showing that a minimally constrained, full-featured production function is a necessary specification of the water delivery operations in our sample. This, plus the model's highly efficient and economically correct parameter estimates, confirms the usefulness of a production function approach to modeling the economic activities of water delivery systems.

Testing for detailed balance in a financial market

Science.gov (United States)

Fiebig, H. R.; Musgrove, D. P.

2015-06-01

We test a historical price-time series in a financial market (the NASDAQ 100 index) for a statistical property known as detailed balance. The presence of detailed balance would imply that the market can be modeled by a stochastic process based on a Markov chain, thus leading to equilibrium. In economic terms, a positive outcome of the test would support the efficient market hypothesis, a cornerstone of neo-classical economic theory. In contrast to the usage in prevalent economic theory the term equilibrium here is tied to the returns, rather than the price-time series. The test is based on an action functional S constructed from the elements of the detailed balance condition and the historical data set, and then analyzing S by means of simulated annealing. Checks are performed to verify the validity of the analysis method. We discuss the outcome of this analysis.

A study of Canadian retail gasoline prices

International Nuclear Information System (INIS)

Eckert, A.L.

1999-05-01

Retail gasoline pricing in Canadian markets was examined to demonstrate why retail prices tend to follow one of two distinct patterns and that neither pattern is observable in the wholesale price. In many cities, retail prices are more rigid than wholesale prices, while in other markets, retail prices follow a cyclic pattern not seen in wholesale prices. This study examined why constant prices are observed in some cities, while other cities have cyclic prices. Theoretical justification was given to the argument that prices will remain constant only in markets in which there are only few gasoline companies with a small number of stations, but a large per-station capacity. It was shown that when one firm operates significantly more stations than its rival, a constant cost equilibrium cannot be maintained. However, a cycle equilibrium can be constructed in this case, and also when the two companies are similarly sized. An initial examination of available price, cost and market structure data shows that there is a positive correlation between price stability and concentration. The response of retail prices to wholesale price movements in the presence of a retail price cycle was also examined through the use of a simple model based on the predictions of the above theory. Data for the city of Windsor, Ontario was used for the modelling approach. A new cycle is created by an increase in price whenever the distance between the previous retail price and the current wholesale prices is very small. Retail prices are more responsive to wholesale prices over the increasing portion of the cycle. It was shown that when the asymmetric error correction model of Borenstein, Cameron and Gilbert is estimated, it indicates a more rapid response to wholesale price increases than to decreases. 72 refs., 22 tabs., 8 figs

Classical dissipation and transport in plasmas

International Nuclear Information System (INIS)

Hinton, F.L.

1989-01-01

This paper reviews the subject of classical and neoclassical transport. The paper is organized into four main parts, dealing with plasma kinetic theory, classical transport, neoclassical transport, and the present state of the subject. The results of the neoclassical theory of transport are still being used to give the lower limit on the transport rates in tokamaks, which would apply if instabilities and turbulence could be suppressed. So far, only the ion thermal conductivity and the current density have been found experimentally to agree with this theory, and only under special conditions. The electron thermal conductivity has been found experimentally to be much larger than the neoclassical prediction

The effect of costs and regulation on electricity prices

International Nuclear Information System (INIS)

Schlaf, E.P.

1991-01-01

Two distinct econometric tests were performed to determine if state price regulation of public utilities has had a measurable impact on retail electricity prices. The results of both tests agree that, during the 1971-1985 period, average national electricity prices in each of the three major consuming sectors and the four Census regions were below the level which would have been preferred by profit-maximizing monopolists. Electricity consumers received price benefits during the sample period as a result of regulation. The first test of the effectiveness of state price regulation used a 'revealed preference' approach by comparing the actual prices set by regulatory commissioners with prices and outcomes predicted by three competing theories of regulatory motivation. The second test of the effectiveness of price regulation combined traditional cost function inputs with regulatory variables in reduced-form price equations to determine whether the amount of regulatory intensity, as measured by the number of staff members per regulated utility, is associated with declining electricity prices and whether appointed commissioners allow higher prices than elected commissioners

"The General Theory of Employment, Interest and Money" J. M. Keynes: Background, Methodology and Specific Interpretations

Directory of Open Access Journals (Sweden)

Nureev Rustem, M.

2016-03-01

Full Text Available The paper was prepared for the 80-th anniversary of publishing of John Maynard Keynes’ “General Theory of Employment, Interest and Money”. It discusses the stages of the economist’s life, the main books written prior to "The General Theory ...". Particular attention is devoted to the development issues of the monetary policy in the works of "Indian Currency and Finance", ”A Tract on Monetary Reform” and "A Treatise on Money". A special section is dedicated to the analysis of Keynes’ methodology, its logic and structure, influenced by John. E. Moore. The paper reveals the unity and the difference in approaches of A. Marshall and John M. Keynes, and explores new categories of behavioral economics and marginal analysis, which established the success of "General Theory of Employment, Interest and Money", shows the value of Keynes's theory for the further development of macroeconomics. Particular attention is paid to the popularization of Keynes's ideas from the initial interpretations of "The General Theory ..." to the neoclassical synthesis and further to neo-Keynesianism and post-Keynesianism. The paper studies the unity and the distinction between Hicks’ and American Keynesianism. Hicksian assumptions of a savings-investment function have determined the features of the IS-LM model. The contributions to the development of Keynesianism A. Hansen and P. A. Samuelson are also shown, as well as the history of the "Keynesian Cross". A comparative analysis of the neoclassical and Keynesian models of general economic equilibrium is given and analyzes the institutional reasons explaining differences between neoclassical and Keynesian paradigms. A special section is devoted to the Keynesian theory of growth, showing unity and difference of R. Harrod and E. Domar models, along with their impact on the creation of Development Economics. Simplified understanding of Keynes's legacy has caused the emergence of unorthodox Keynesianism. The paper

Possible further subjects of study in the field of fusion plasma theory in Latvia

International Nuclear Information System (INIS)

Dumbrajs, O.

2004-01-01

Full text: First fusion plasma theory relevant studies in Latvia were related to edge localized modes (ELMs). This work has been carried out at the Institute of Solid Physics and is nearing successful completion. The next suggested topic 'Stochastisation of magnetic field lines and its impact on fusion plasma' is related to the theory of ergotic magnetic fields. The stochastisation of magnetic field lines is thought to play a major role in fast energy loss events from magnetically confined fusion plasma due to magnetohydrodynamic (MHD) modes. Classical examples are sawtooth crashes and disruptions. Here it is thought that stochastisation plays a role in the enhanced reconnection rate, which is often observed. More recently, this process has also been proposed as an explanation for the neoclassical tearing modes (NTM) phenomenon, which is repetitive rapid decrease of a neoclassical magnetic island due to its interaction with other MHD modes. The timescale for this phenomenon is clearly too fast to be explained by a conventional reconnection. The theoretical study of the onset of stochastisation will be illustrated for plasma parameters typical for the ASDEX Upgrade tokamak operated at the Max-Planc-Institute for Plasma Physics in Garching, Germany

Forward curves, scarcity and price volatility in oil and natural gas markets

Energy Technology Data Exchange (ETDEWEB)

Geman, Helyette [Birkbeck, University of London (United Kingdom); ESCP-EAP (France); Ohana, Steve [ESCP-EAP (France)

2009-07-15

The role of inventory in explaining the shape of the forward curve and spot price volatility in commodity markets is central in the theory of storage developed by Kaldor [Kaldor, N. (1939) ''Speculation and Economic Stability'', The Review of Economic Studies 7, 1-27] and Working [Working, H. (1949) ''The theory of the price of storage'', American Economic Review, 39, 1254-1262] and has since been documented in a vast body of financial literature, including the reference paper by Fama and French [Fama, E.F. and K.R. French (1987) ''Commodity futures prices: some evidence on forecast power, premiums and the theory of storage'', Journal of Business 60, 55-73] on metals. The goal of this paper is twofold: 1. validate in the case of oil and natural gas the use of the slope of the forward curve as a proxy for inventory (the slope being defined in a way that filters out seasonality); 2. analyze directly for these two major commodities the relationship between inventory and price volatility. In agreement with the theory of storage, we find that: 1. the negative correlation between price volatility and inventory is globally significant for crude oil; 2. this negative correlation prevails only during those periods of scarcity when the inventory is below the historical average and increases importantly during the winter periods for natural gas. Our results are illustrated by the analysis of a 15 year-database of US oil and natural gas prices and inventory. (author)

Setting Fair Prices – Fundamental Principle Of Sustainable Marketing

OpenAIRE

Cătoiu, Iacob; Vrânceanu, Diana Maria; Filip, Alina

2010-01-01

In commercial area, the price has a major importance, being frequently considered among the main criteria used in buying decision process. Price fairness derives from equity theory and it is focused on assuring in a transaction a reasonable report between the customer’s sacrifice and the value offered by the seller. In three marketing experiments we have evaluated customers’ fairness perceptions of differential prices, this tactic being frequently used by sellers. One important finding was th...

Pricing in health care organizations. A key component of the marketing mix.

Science.gov (United States)

Marlowe, D

1989-01-01

Pricing is one of the key components of a successful marketing mix. Pricing objectives, strategies, and tactics cannot stand alone, however. To be effective, price must work in harmony with other marketing and management activities. Despite its importance, use of pricing as a management tool is limited in health care compared to other industries. Many factors contribute to this situation, including the structure of the health-care exchange process, limited consumer knowledge, and a limited ability to measure costs. I will provide an overview of pricing information, both within and outside health care. Specifically, we will explore the definition of pricing, nonmonetary pricing, price elasticity, classical pricing theory, and the role of pricing in a health-care setting.

Locational marginal prices with SVC in Indian electricity market ...

African Journals Online (AJOL)

Spot pricing based on short run marginal cost (SRMC) theory has the potential to provide the economic signals for the power system operation. Reactive power has gained importance as an ancillary service in competitive markets and its impact on nodal price can not be ignored. With the emergence of FACTS technology, ...

Financial markets theory equilibrium, efficiency and information

CERN Document Server

Barucci, Emilio

2017-01-01

This work, now in a thoroughly revised second edition, presents the economic foundations of financial markets theory from a mathematically rigorous standpoint and offers a self-contained critical discussion based on empirical results. It is the only textbook on the subject to include more than two hundred exercises, with detailed solutions to selected exercises. Financial Markets Theory covers classical asset pricing theory in great detail, including utility theory, equilibrium theory, portfolio selection, mean-variance portfolio theory, CAPM, CCAPM, APT, and the Modigliani-Miller theorem. Starting from an analysis of the empirical evidence on the theory, the authors provide a discussion of the relevant literature, pointing out the main advances in classical asset pricing theory and the new approaches designed to address asset pricing puzzles and open problems (e.g., behavioral finance). Later chapters in the book contain more advanced material, including on the role of information in financial markets, non-c...

EFFECTS OF ELECTROMAGNETIC TURBULENCE IN THE NEOCLASSICAL OHM's LAW

International Nuclear Information System (INIS)

HINTON, F.L; WALTZ, R.E; CANDY, J.

2003-01-01

OAK-B135 An Ohm's law for tokamak plasmas has been derived, which includes the effect of electromagnetic turbulence as well as the neoclassical conductivity and bootstrap current. The most important current-driving effects of the turbulence have been identified, expressions for the driven (dynamo) current have been derived and these have been evaluated using the GYRO electromagnetic turbulence code. The most important current drive mechanism, the divergence of the radial flux of parallel electron momentum induced by magnetic flutter, drives a current density which have positive peaks on low order rational surfaces, with compensating negative dips nearby, thus driving zero total current. Another current drive mechanism, the beating of the parallel electric field fluctuations with the electron density fluctuations, drives a current density which is much smaller than that driven by the magnetic flutter mechanism, but could drive a nonzero total current

7 CFR 1000.50 - Class prices, component prices, and advanced pricing factors.

Science.gov (United States)

2010-01-01

... 7 Agriculture 9 2010-01-01 2009-01-01 true Class prices, component prices, and advanced pricing... advanced pricing factors. Class prices per hundredweight of milk containing 3.5 percent butterfat, component prices, and advanced pricing factors shall be as follows. The prices and pricing factors described...

THE EFFECTS OF CHANGING MARGIN LEVELS ON FUTURES OPTIONS PRICE

Institute of Scientific and Technical Information of China (English)

Yanling GU; Juan LI

2006-01-01

The paper studies the effects of changing margin levels on the price of futures options and how to organize a market maker's position. Black model (1976) becomes a special case of this paper.The paper prices futures options by duplicating them and adopting the theory of Backward Stochastic Differential Equations (BSDEs for short). Furthermore, the price of a futures option is the unique solution to a nonlinear BSDE.

Stochastic arbitrage return and its implication for option pricing

Science.gov (United States)

Fedotov, Sergei; Panayides, Stephanos

2005-01-01

The purpose of this work is to explore the role that random arbitrage opportunities play in pricing financial derivatives. We use a non-equilibrium model to set up a stochastic portfolio, and for the random arbitrage return, we choose a stationary ergodic random process rapidly varying in time. We exploit the fact that option price and random arbitrage returns change on different time scales which allows us to develop an asymptotic pricing theory involving the central limit theorem for random processes. We restrict ourselves to finding pricing bands for options rather than exact prices. The resulting pricing bands are shown to be independent of the detailed statistical characteristics of the arbitrage return. We find that the volatility “smile” can also be explained in terms of random arbitrage opportunities.

Regulatory intervention on the dynamic European gas market. Neoclassical economics or transaction cost economics?

International Nuclear Information System (INIS)

Spanjer, Aldo R.

2009-01-01

Shifts at the international gas market indicate that the transaction cost perspective provides better underpinnings for European gas regulation than the current neoclassical perspective. Three implications are that policymakers should: (1) allow alternative coordination measures to complement market exchange; (2) recognize that less than perfect competition outcomes may be optimal and (3) be more reticent in prescribing interventionist measures. Finally, the analysis provides the foundations for the empirical research required to complement this paper's theoretical approach. (author)

The China price: Evidence and some implications

OpenAIRE

Álvarez, Roberto; Claro, Sebastián

2006-01-01

China´s import penetration in Chilean markets is higher in unskilled-labor intensive sectors as predicted by traditional endowment-based theories of comparative advantage. However, there is also evidence of within-industry specialization. In particular, high-income countries receive higher prices for its products, and Chinese products are not only cheaper in comparison to the world average but also relative to countries with similar income per capita. These price differences cannot account fo...

Innovations in pricing of transportation systems : theory and practice.

Science.gov (United States)

2011-08-15

This report summarizes results from the conference titled Innovations in Pricing of : Transportation Systems on May 12 14, 2010 at the Royal Plaza Hotel in Orlando, Florida. : The primary objective of the conference is to bring together pra...

Econodynamics the theory of social production

CERN Document Server

Pokrovskii, Vladimir N

2012-01-01

In this book the theory of social production is systematically formulated in terms and concepts of classical political economy and neo-classical economics. In this way the subject becomes accessible not only to professional researchers in the areas of theory of production and economic growth, but also to the educated reader who is curious about the principles behind the functioning of a national economy. The book can be considered as an introduction for students with a background in physics, chemistry and engineering, who wish to specialize in economics. The author explains how the growth of production is connected with achievements in technological consumption of labour and energy. The theory allows one to analyse the past and the present of the social production system and to build scripts of the future progress. The book could be interesting for energy specialists who are  engaged in planning and analysing production and consumption of energy carriers and determining energy policy, and for economists who...

Can new institutional theory contribute to the understanding of the actors` behaviour in connection with energy savings? A theoretical discussion; Kan nyinstitutionel teori bidrage til forstaaelsen af aktoerernes adfaerd i forbindelse med energibesparelser? - En teoretisk diskussion

Energy Technology Data Exchange (ETDEWEB)

Holm Pedersen, L.

1997-09-01

The neoclassical economy predicts that energy savings which can pay will be undertaken, and that energy savings which do not pay will not be carried through. However, the empirical investigations suggest that situations where energy savings are not immediately undertaken also exist, although they are profitable, and that there are situations where energy savings are carried through, although they are not profitable. In these situations the neoclassical economy seems to lack explanatory power. In the development of a theoretical framework for the study of energy savings it is investigated whether the new institutional theory can supplement the explanatory power of the neoclassical economy. The theory is to some extent a renewal of the social sciences, which takes into consideration that decision-making is often founded on imperfect information, and that people are affected by their social and institutional environment. The new institutional theory can supplement and support the neoclassical economy in providing a theoretical framework for the analysis of energy savings. However, it is outside the realm of the present report to make an empirical investigation of how often the situation seems to be that energy savings which pay are not carried through, or that energy savings are undertaken even though they do not pay in the pure economic sense. The situation might also be that energy savings mainly are undertaken when it is both profitable and given a special significance in the households or companies. However, it will take further empirical investigations to assess the explanatory power of the two theoretical perspectives. In this study it has only been possible to establish a theoretical framework for such investigations. (LN) 92 refs.

Preferences All the Way Down: Questioning the Neoclassical Foundations of Behavioral Economics and Libertarian Paternalism

OpenAIRE

White, Mark D.

2017-01-01

Behavioral economics has enriched our understanding of the limitations and imperfections of human decision-making that were neglected by the overly simplistic neoclassical model of choice. However insightful its results and clever its modifications to the traditional model of choice, much of behavioral economics is built upon the core of that model, constrained preference-satisfaction, which cannot accommodate many other aspects of human choice such as principles, ideals, judgment, and will. ...

Stochastic arbitrage return and its implications for option pricing

OpenAIRE

Fedotov, Sergei; Panayides, Stephanos

2004-01-01

The purpose of this work is to explore the role that arbitrage opportunities play in pricing financial derivatives. We use a non-equilibrium model to set up a stochastic portfolio, and for the random arbitrage return, we choose a stationary ergodic random process rapidly varying in time. We exploit the fact that option price and random arbitrage returns change on different time scales which allows us to develop an asymptotic pricing theory involving the central limit theorem for random proces...

European Option Pricing with Transaction Costs in Lévy Jump Environment

Directory of Open Access Journals (Sweden)

Jiayin Li

2014-01-01

Full Text Available The European option pricing problem with transaction costs is investigated for a risky asset price model with Lévy jump. By the aid of arbitrage pricing theory and the generalized Itô formula (which includes Poisson jump, the explicit solution to the risk asset price model is given. According to arbitrage-free principle, we first discretize the continuous-time model. Then, in each small time interval, the transaction costs are introduced. By using the Δ-hedging strategy, the explicit solutions of the European options pricing formula with transaction costs are given for the risky asset price model with Lévy jump.

Is Power Production Flexibility a Substitute for Storability? Evidence from Electricity Futures Prices

Energy Technology Data Exchange (ETDEWEB)

Kilic, M.; Huisman, R. [Erasmus School of Economics, Erasmus University Rotterdam, Rotterdam (Netherlands)

2010-07-15

Electricity is not storable. As a consequence, electricity demand and supply need to be in balance at any moment in time as a shortage in production volume cannot be compensated with supply from inventories. However, if the installed power supply capacity is very flexible, variation in demand can be counterbalanced with flexible adjustment of production volumes. Therefore, supply flexibility can replace the role of inventory. In this paper, we question whether power production flexibility is a substitute for storability. To do so, we examine power futures prices from countries that differ in their power supply and test whether power futures prices contain information about expected future spot prices and risk premiums and examine whether futures prices from a market in which power supply is more flexible would lead to futures prices that are more in line with the theory of storage. We find the opposite; futures prices from markets with flexible power supply behave according to the expectations theory. The implicit view from futures prices is that flexibility is not a substitute for storability.

Is Power Production Flexibility a Substitute for Storability? Evidence from Electricity Futures Prices

International Nuclear Information System (INIS)

Kilic, M.; Huisman, R.

2010-07-01

Electricity is not storable. As a consequence, electricity demand and supply need to be in balance at any moment in time as a shortage in production volume cannot be compensated with supply from inventories. However, if the installed power supply capacity is very flexible, variation in demand can be counterbalanced with flexible adjustment of production volumes. Therefore, supply flexibility can replace the role of inventory. In this paper, we question whether power production flexibility is a substitute for storability. To do so, we examine power futures prices from countries that differ in their power supply and test whether power futures prices contain information about expected future spot prices and risk premiums and examine whether futures prices from a market in which power supply is more flexible would lead to futures prices that are more in line with the theory of storage. We find the opposite; futures prices from markets with flexible power supply behave according to the expectations theory. The implicit view from futures prices is that flexibility is not a substitute for storability.

On the generation of Alfven wave current drive in low aspect ratio Tokamaks with neoclassical conductivity

International Nuclear Information System (INIS)

Bruma, C.; Cuperman, S.; Komoshvili, K.

1998-01-01

Several low aspect ratio (spherical) Tokamaks (ST's) are now in operation or under construction. These devices would permit cost-effective and attractive embodiment of future fusion reactors: they would provide high β, good confinement and steady state operation at modest field values. Now, a steady state reactor has to be sustained by non-inductively driven currents. Recently, the generation of non-inductive current drive by Alfven waves (AWCD) has been investigated theoretically within the framework of ideal (E p arallel=0) MHD and non-ideal, resistive (E p arallel≠0) MHD; however, in all these cases, the tokamak device consisted of a cylindrical plasma with simulated toroidal effects. Rather encouraging results have been obtained. In this work we further investigate AWCD in ST's as follows: (i) we use consistent equilibrium profiles with neoclassical conductivity corresponding to an ohmic START discharge; (ii) incorporate effects due to neoclassical conductivity in the elements of the resistive MHD dielectric tensor, in the solution of the full (E p arallel≠0) wave equation as well as in the calculation of AWCD; and (iii) carry out a systematic search for antenna parameters optimizing the AWCD. (author)

On the generation of Alfven wave current drive in low aspect ratio Tokamaks with neoclassical conductivity

Energy Technology Data Exchange (ETDEWEB)

Bruma, C.; Cuperman, S.; Komoshvili, K. [School of Physics and Astronomy, Tel Aviv University, Tel Aviv (Israel)

1998-08-01

Several low aspect ratio (spherical) Tokamaks (ST's) are now in operation or under construction. These devices would permit cost-effective and attractive embodiment of future fusion reactors: they would provide high {beta}, good confinement and steady state operation at modest field values. Now, a steady state reactor has to be sustained by non-inductively driven currents. Recently, the generation of non-inductive current drive by Alfven waves (AWCD) has been investigated theoretically within the framework of ideal (E{sub p}arallel=0) MHD and non-ideal, resistive (E{sub p}arallel{ne}0) MHD; however, in all these cases, the tokamak device consisted of a cylindrical plasma with simulated toroidal effects. Rather encouraging results have been obtained. In this work we further investigate AWCD in ST's as follows: (i) we use consistent equilibrium profiles with neoclassical conductivity corresponding to an ohmic START discharge; (ii) incorporate effects due to neoclassical conductivity in the elements of the resistive MHD dielectric tensor, in the solution of the full (E{sub p}arallel{ne}0) wave equation as well as in the calculation of AWCD; and (iii) carry out a systematic search for antenna parameters optimizing the AWCD. (author)

Money, income, and profit: lessons from the monetary theory of production

OpenAIRE

Carrera, Andrea; Rossi, Sergio

2015-01-01

In this paper we analyze Augusto Graziani’s numerous contributions to the monetary theory of production, which he developed from a theoretical but also a policy-oriented perspective. We focus on the rejection of the neoclassical dichotomy, the causal relation between production and money creation, and the definition of macroeconomic saving. These three dimensions of Graziani’s work can be identified in the framework of the monetary circuit, in the tradition of classical and Marxian economic t...

Electricity prices and power derivatives: An affine jump diffusion approach with seasonal volatility and prices

International Nuclear Information System (INIS)

Nomikos, Nikos; Soldatos, Orestes; Tamvakis, Michael

2005-01-01

Deregulation and reforms in the electricity markets over the recent years have led to increasing volatility of electricity prices since prices in the market are now determined by the fundamental rules of supply and demand. The existence of price risk in the market leads to the increasing necessity of hedging using derivatives and the subsequent development of models to price and hedge electricity derivatives. However the non-storable nature of the market implies that ''traditional'' approaches for the pricing and hedging of commodity derivatives based on the theory of storage are not applicable to electricity markets. In this paper we propose a two-factor jump diffusion model with seasonal components in order to capture the systematic pattern in the forward curve and the volatility term structure. Our model is then calibrated for the spot and the financial contracts in the Nord Pool Exchange using Kalman filter techniques. The proposed model has several advantages. First it enables to select the risk neutral measure that best fits the term structure hence capturing the most significant distributional characteristics of both spot and forwards. Second, it explains the seasonal risk premium, and finally it provides a fit for the Volatility Term Structure. The resulting model is very promising, providing a very useful Financial Engineering tool to market participants for Risk Hedging and Derivatives Pricing in the highly volatile Power Markets. (Author)

Calculating the Price for Derivative Financial Assets of Bessel Processes Using the Sturm-Liouville Theory

Directory of Open Access Journals (Sweden)

Burtnyak Ivan V.

2017-06-01

Full Text Available In the paper we apply the spectral theory to find the price for derivatives of financial assets assuming that the processes described are Markov processes and such that can be considered in the Hilbert space L^2 using the Sturm-Liouville theory. Bessel diffusion processes are used in studying Asian options. We consider the financial flows generated by the Bessel diffusions by expressing them in terms of the system of Bessel functions of the first kind, provided that they take into account the linear combination of the flow and its spatial derivative. Such expression enables calculating the size of the market portfolio and provides a measure of the amount of internal volatility in the market at any given moment, allows investigating the dynamics of the equity market. The expansion of the Green function in terms of the system of Bessel functions is expressed by an analytic formula that is convenient in calculating the volume of financial flows. All assumptions are natural, result in analytic formulas that are consistent with the empirical data and, when applied in practice, adequately reflect the processes in equity markets.

Consumption-based macroeconomic models of asset pricing theory

Directory of Open Access Journals (Sweden)

Đorđević Marija

2016-01-01

Full Text Available The family of consumptionbased asset pricing models yields a stochastic discount factor proportional to the marginal rate of intertemporal substitution of consumption. In examining the empirical performance of this class of models, several puzzles are discovered. In this literature review we present the canonical model, the corresponding empirical tests, and different extensions to this model that propose a resolution of these puzzles.

Domestic and foreign effects on prices in an open economy

DEFF Research Database (Denmark)

Juselius, Katarina

1992-01-01

Domestic price determination in Denmark is investigated using three kinds of macroeconomic explanations: (1) internal labor market theories describing the relation between price and wage inflation, (2) pure monetarist theories describing the effect of excess money on the inflation rate. and (3...... found to be the main determinants of the inflation rate. Among these, the domestic effects were small compared to the foreign effects. The empirical results strongly favored a backward-looking behavioral model in terms of structurally stable parameters as opposed to a forward-looking expectations model...

Pricing and Remanufacturing Decisions of a Decentralized Fuzzy Supply Chain

Directory of Open Access Journals (Sweden)

Jing Zhao

2013-01-01

costs, and the collecting scaling parameters of the two retailers. The purpose of this paper is to explore how the manufacturer and the two retailers make their own decisions about wholesale price, retail prices, and the remanufacturing rates in the expected value model. Using game theory and fuzzy theory, we examine each firm’s strategy and explore the role of the manufacturer and the two retailers over three different game scenarios. We get some insights into the economic behavior of firms, which can serve as the basis for empirical study in the future.

Does oil move equity prices? A global view

International Nuclear Information System (INIS)

Nandha, Mohan; Faff, Robert

2008-01-01

Many studies indicate that oil price shocks have an adverse effect on real output and, hence, an adverse effect on corporate profits where oil is used as a key input. The present study examines whether and to what extent the adverse effect of oil price shocks impacts stock market returns. To this end we, analyse 35 DataStream global industry indices for the period from April 1983 to September 2005. Our findings indicate that oil price rises have a negative impact on equity returns for all sectors except mining, and oil and gas industries. Generally, these results are consistent with economic theory and evidence provided by previous empirical studies. Little evidence of any asymmetry is detected in the oil price sensitivities. In light of our findings, we recommend that international portfolio investors consider hedging oil price risk. (author)

Price Changes, Resource Adjustments and Rational Expectations

DEFF Research Database (Denmark)

Hoffmann, Kira

This study investigates the relationship between the accuracy of managerial demand expectations, resource adjustment decisions and selling price changes. In line with rational expectation theory, it is argued that managers adjust resources and selling prices differently in response to expected...... that cost elasticity is higher when a demand decrease is expected among companies with similar exposure to demand uncertainty. Overall, this implies that managerial competences in predicting future demand significantly determines firms’ profitability; especially when demand uncertainty is high...

Nation-States in Continental Markets: The Political Geography of Free Trade.

Science.gov (United States)

Merrett, Christopher D.

1997-01-01

Argues that neoclassical conceptions of political geography separate economic from political processes and therefore ignore the consequences of economic policies. Uses discourse theory to show how the pretensions of objectivity embedded in neoclassical trade theory obscure these consequences. Briefly reviews trade theory from Adam Smith to the…

Quantitative analysis on the fluctuation of vegetable price in supermarket

Directory of Open Access Journals (Sweden)

Miranda Suci

2018-01-01

Full Text Available In this paper we analyze the variables affecting the determination of vegetable sale price in supermarket and investigate each amount considered into the formulation. We use the supermarket pricing strategies literatures, cost management theory, and any information obtained from suppliers and supermarket to investigate the variables influenced the sale price gap between supplier sale price and supermarket sale price. In order to obtain the supermarket sale price, it is required to understand the concept of costs. Supermarket as a merchandising firm has two components of costs called purchase costs and operating expenses which are computed to be Cost of Goods Sold (COGS. We found that supplier sale price is the purchase costs and plays has the main role in determining the supermarket sale price. The operating expenses considered is the holding cost. The vegetable characteristics and consumer behaviour have driven the contribution of amount of variables into the sale price at supermarket. Finally, we present the variables satisfying the vegetable sale price formulation and how they are calculated becoming the supermarket sale price.

Exhaustible-resource theory and the uranium market

International Nuclear Information System (INIS)

Hsieh, Y.L.

1982-01-01

Exhaustible-resource theory has been developed rapidly by economists since the OPEC shocks of 1973-1974 and the theory now provides a framework for analyzing the optimal production pattern for resource commodities. However, applications of the theory to particular markets, such as crude oil, have not provided accurate predictions due no doubt to theoretical problems in explaining exploration and discovery events, market organization changes, and uncertainty. This thesis investigated the uranium market in an effort to determine how well the exhaustible-resource theory explains the past price and quantity time paths of this energy resource, and what might be expected in the future. The exhaustible-resource theory was first developed in a form appropriate to an application to the uranium market. An econometric simulation model that combines the history of uranium price formation and the exhaustible-resource theory was developed to forecast future uranium prices. The model was designed not only to reflect the physical processes of drilling activities, changing reserves, production, and prices of uranium through individual equations, but also to account for the interaction of all these interrelationships at the same time

The theoretical foundations of value-informed pricing in the service-dominant logic of marketing

NARCIS (Netherlands)

Ingenbleek, P.T.M.

2014-01-01

Purpose – In the mainstream normative pricing literature, value assessment is virtually non-existent. Although the resource-based literature recognizes that pricing is a competence, value-informed pricing practices are still weakly grounded in theory. The purpose of this paper is to strengthen the

Pricing of Contracts for Difference in the Nordic market

International Nuclear Information System (INIS)

Kristiansen, T.

2004-01-01

The purpose of this paper is to give an introduction to, and a pricing analysis of a new forward locational price differential product, Contracts for Difference (CfD), introduced the 17th of November 2000 at Nord Pool - the Nordic electricity exchange. To our knowledge there is no literature available of how the Nordic CfDs are priced. The CfD is a forward market product with reference to the difference between the future seasonal Area Price and System Price. By using available historical trading prices and spot prices for four seasonal contracts and one yearly contract, we analyze the relationships between the contract prices and the value of the underlying asset. For the first four seasonal contracts it appears that CfDs traded at Nord Pool are mostly over-priced relative to the underlying asset. Pricing theory for forward contracts explains this by the presence of a majority of risk-averse consumers who are willing to pay a risk premium for receiving the future price differential. We utilize statistical analysis with regard to the contract prices and the underlying asset, and find some interesting relationships. The analysis is preliminary due to the fact that the CfD market is relatively new. (Author)

Reserve price: Lessons learned from Brazilian electricity procurement auctions

International Nuclear Information System (INIS)

Rego, Erik Eduardo

2013-01-01

Auctions have been used in several formats in the electric energy industry. In general, regulators may be uncomfortable initiating a reverse auction at a higher-than-expected final price, fearing that participants may sell their energy at an excess profitability. Nevertheless, evidence from electricity procurement auctions conducted in Brazil supports the findings that these types of auctions have the opposite effect. By attracting a larger number of agents, these auctions can trigger stronger competition and lead to lower settlement pricing. Accordingly, the Brazilian cases examined in this article present significant evidence to support this directional theory. In fact, there are some cases of electricity procurement auctions that show that inadequate auction reserve pricing leads to inefficient outcomes and may also cause the auction to fail. On the other hand, auctions with adequate price caps have led to lower final clearing prices, thus contributing to reasonable final energy pricing. - Highlights: • Outcomes from Brazilian electricity procurement auctions were analyzed. • Cases of success and frustration after adopting (in)adequate reserve prices. • Setting different price caps per source is inefficient. • Higher-than-normal price cap is more effective than fine-tuning reserve prices

COMPLETE SUPPRESSION OF THE m=2/n-1 NEOCLASSICAL TEARING MODE USING ELECTRON CYCLOTRON CURRENT DRIVE ON DIII-D

International Nuclear Information System (INIS)

PETTY, CC; LAHAYE, LA; LUCE, TC; HUMPHREYS, DA; HYATT, AW; PRATER, R; STRAIT, EJ; WADE, MR

2003-01-01

A271 COMPLETE SUPPRESSION OF THE M=2/N-1 NEOCLASSICAL TEARING MODE USING ELECTRON CYCLOTRON CURRENT DRIVE ON DIII-D. The first suppression of the important and deleterious m=2/n=1 neoclassical tearing mode (NTM) is reported using electron cyclotron current drive (ECCD) to replace the ''missing'' bootstrap current in the island O-point. Experiments on the DIII-D tokamak verify the maximum shrinkage of the m=2/n=1 island occurs when the ECCD location coincides with the q = 2 surface. The DIII-D plasma control system is put into search and suppress mode to make small changes in the toroidal field to find and lock onto the optimum position, based on real time measurements of dB θ /dt, for complete m=2/n=1 NTM suppression by ECCD. The requirements on the ECCD for complete island suppression are well modeled by the modified Rutherford equation for the DIII-D plasma conditions

From price theory to marketing management

DEFF Research Database (Denmark)

Madsen, Erik Kloppenborg; Pedersen, Kurt

2013-01-01

Historical School, an essential precondition for the Copenhagen approach was the second wave of microeconomic theory of the 1930s. The article argues that it was a marketing management school, and that it offered early contributions to the development of marketing theory. Originality/value – Relatively......Purpose – The purpose of this article is to show how a particular marketing paradigm developed in Denmark from the 1920s through the 1960s. It peaked in the mid-1950s and faded out with one major publication in the early 1970s. The article provides a relatively detailed study of the initial phases...... of the school and its key ideas. Design/methodology/approach – The study is based on primary sources, i.e. the writings of the scholars who shaped and developed the school. A significant part of the sources are available in Danish only. Findings – While American marketing theory developed from the German...

Real options theory to the pricing of allowances contract to carbon emission

International Nuclear Information System (INIS)

Horii, Leticia Takahashi; Parente, Virginia; Goldemberg, Jose

2010-01-01

The objective of this work is to develop a pricing model contract for allowances to emit carbon through Real Options. Emissions allowances are equivalent tons of carbon traded between Annex I countries from companies that have the ability to reduce their emissions beyond what is assigned to it. The surplus of emission reductions produced by these companies may be sold in the emissions market. Thus, this work can contribute to improving the management of contractual risk and enable companies estimated the price at which a contract can be signed. Properly evaluate the contracts that the market environment is a challenge for companies. The historic low of information and randomness in the price of carbon allowances in the spot market suggest extreme caution in its use. (author)

Boosting Learning Algorithm for Stock Price Forecasting

Science.gov (United States)

Wang, Chengzhang; Bai, Xiaoming

2018-03-01

To tackle complexity and uncertainty of stock market behavior, more studies have introduced machine learning algorithms to forecast stock price. ANN (artificial neural network) is one of the most successful and promising applications. We propose a boosting-ANN model in this paper to predict the stock close price. On the basis of boosting theory, multiple weak predicting machines, i.e. ANNs, are assembled to build a stronger predictor, i.e. boosting-ANN model. New error criteria of the weak studying machine and rules of weights updating are adopted in this study. We select technical factors from financial markets as forecasting input variables. Final results demonstrate the boosting-ANN model works better than other ones for stock price forecasting.

INVESTIGATION OF FISCAL AND BUDGETARY POLICIES BASED ON ECONOMIC THEORIES

Directory of Open Access Journals (Sweden)

EMILIA CAMPEANU

2011-04-01

Full Text Available Empirical analysis of fiscal and budgetary policies cannot be achieved without first knowing how they are viewed in the economic theories. This approach is important to indicate the position and implications of fiscal and budgetary policy tools in the economic theory considering their major differences. Therefore, the paper aims is to investigate the fiscal and budgetary policies based on economic theories such as neoclassical, Keynesian and neo-Keynesian theory in order to indicate their divergent points. Once known these approaches at the economic theory level is easier to establish the appropriate measures taking into consideration the framing of a country economy in a certain pattern. This work was supported from the European Social Fund through Sectoral Operational Programme Human Resources Development 2007-2013, project number POSDRU/89/1.5/S/59184 „Performance and excellence in postdoctoral research in Romanian economics science domain” (contract no. 0501/01.11.2010.

Low-Z impurity transport in DIII-D - observations and implications

International Nuclear Information System (INIS)

Wade, M.R.; Houlberg, W.A.; Baylor, L.R.; West, W.P.; Baker, D.R.

2001-01-01

Impurity transport studies on DIII-D have revealed transport phenomena that are qualitatively consistent with that expected from turbulence transport theory in some cases and neoclassical transport theory in other cases. The transport model proposed here, which assumes that the total impurity transport is a linear sum of turbulence-driven transport and neoclassical transport, is shown to reproduce many of these observed features. This transport model is then applied to burn condition calculations, revealing that profile effects associated with neoclassical transport have a large effect on the maximum allowable impurity fraction in machines based on achieving neoclassical transport levels

Electricity pricing: optimal operation and investment by industrial consumers