WorldWideScience

Sample records for optimal technology investment

  1. Optimal value of a firm investing in exogeneous technology

    OpenAIRE

    Pólvora, Pedro Ribeiro Coelho Fouto

    2012-01-01

    Mestrado em Matemática Financeira Neste trabalho estudamos o valor ótimo para uma Firma cujo valor função depende de um nível de tecnologia exógeno. Em qualquer ponto no tempo a Firma pode investir numa nova tecnologia incorrendo num custo imediato e em retorno passará a utilizar essa nova tecnologia gerando lucros a partir de uma dada função. Estudamos o tempo de paragem ótimo que corresponde ao ponto no tempo em que a empresa investe para obter a valorização ótima. Usamos uma abordagem d...

  2. Optimal Responsible Investment

    DEFF Research Database (Denmark)

    Jessen, Pernille

    The paper studies retail Socially Responsible Investment and portfolio allocation. It extends conventional portfolio theory by allowing for a personal value based investment decision. When preferences for responsibility enter the framework for mean-variance analysis, it yields an optimal...... responsible investment model. An example of index investing illustrates the theory. Results show that it is crucial for the responsible investor to consider portfolio risk, expected return, and responsibility simultaneously in order to obtain an optimal portfolio. The model enables responsible investors...

  3. Optimal Responsible Investment

    DEFF Research Database (Denmark)

    Jessen, Pernille

    Numerous institutions are now engaged in Socially Responsible Investment or have signed the "UN Principles for Responsible Investment". Retail investors, however, are still lacking behind. This is peculiar since the sector constitutes key stakeholders in environmental, social and governmental...... standards. This paper considers optimal responsible investment for a small retail investor. It extends conventional portfolio theory by allowing for a personal-value based investment decision. Preferences for responsibility are defined in the framework of mean-variance analysis and an optimal responsible...... investment model identified. Implications of the altered investment problem are investigated when the dynamics between portfolio risk, expected return and responsibility is considered. Relying on the definition of a responsible investor, it is shown how superior investment opportunities can emerge when...

  4. Network models for solving the problem of multicriterial adaptive optimization of investment projects control with several acceptable technologies

    Science.gov (United States)

    Shorikov, A. F.; Butsenko, E. V.

    2017-10-01

    This paper discusses the problem of multicriterial adaptive optimization the control of investment projects in the presence of several technologies. On the basis of network modeling proposed a new economic and mathematical model and a method for solving the problem of multicriterial adaptive optimization the control of investment projects in the presence of several technologies. Network economic and mathematical modeling allows you to determine the optimal time and calendar schedule for the implementation of the investment project and serves as an instrument to increase the economic potential and competitiveness of the enterprise. On a meaningful practical example, the processes of forming network models are shown, including the definition of the sequence of actions of a particular investment projecting process, the network-based work schedules are constructed. The calculation of the parameters of network models is carried out. Optimal (critical) paths have been formed and the optimal time for implementing the chosen technologies of the investment project has been calculated. It also shows the selection of the optimal technology from a set of possible technologies for project implementation, taking into account the time and cost of the work. The proposed model and method for solving the problem of managing investment projects can serve as a basis for the development, creation and application of appropriate computer information systems to support the adoption of managerial decisions by business people.

  5. Optimal Strategies for Low Carbon Supply Chain with Strategic Customer Behavior and Green Technology Investment

    Directory of Open Access Journals (Sweden)

    Wen Jiang

    2016-01-01

    Full Text Available Climate change is mainly caused by excessive emissions of carbon dioxide and other greenhouse gases. In order to reduce carbon emissions, cap and trade policy is implemented by governments in many countries, which has significant impacts on the decisions of companies at all levels of the low carbon supply chain. This paper investigates the decision-making and coordination of a low carbon supply chain consisting of a low carbon manufacturer who produces one product and is allowed to invest in green technology to reduce carbon emissions in production and a retailer who faces stochastic demands formed by homogeneous strategic customers. We investigate the optimal production, pricing, carbon trading, and green technology investment strategies of the low carbon supply chain in centralized (including Rational Expected Equilibrium scenario and quantity commitment scenario and decentralized settings. It is demonstrated that quantity commitment strategy can improve the profit of the low carbon supply chain with strategic customer behavior. We also show that the performance of decentralized supply chain is lower than that of quantity commitment scenario. We prove that the low carbon supply chain cannot be coordinated by revenue sharing contract but by revenue sharing-cost sharing contract.

  6. Optimal investment horizons

    Science.gov (United States)

    Simonsen, I.; Jensen, M. H.; Johansen, A.

    2002-06-01

    In stochastic finance, one traditionally considers the return as a competitive measure of an asset, i.e., the profit generated by that asset after some fixed time span Δt, say one week or one year. This measures how well (or how bad) the asset performs over that given period of time. It has been established that the distribution of returns exhibits ``fat tails'' indicating that large returns occur more frequently than what is expected from standard Gaussian stochastic processes [1-3]. Instead of estimating this ``fat tail'' distribution of returns, we propose here an alternative approach, which is outlined by addressing the following question: What is the smallest time interval needed for an asset to cross a fixed return level of say 10%? For a particular asset, we refer to this time as the investment horizon and the corresponding distribution as the investment horizon distribution. This latter distribution complements that of returns and provides new and possibly crucial information for portfolio design and risk-management, as well as for pricing of more exotic options. By considering historical financial data, exemplified by the Dow Jones Industrial Average, we obtain a novel set of probability distributions for the investment horizons which can be used to estimate the optimal investment horizon for a stock or a future contract.

  7. Optimal technology choice and investment timing: A stochastic model of industrial cogeneration vs. heat-only production

    International Nuclear Information System (INIS)

    Wickart, Marcel; Madlener, Reinhard

    2007-01-01

    In this paper we develop an economic model that explains the decision-making problem under uncertainty of an industrial firm that wants to invest in a process technology. More specifically, the decision is between making an irreversible investment in a combined heat-and-power production (cogeneration) system, or to invest in a conventional heat-only generation system (steam boiler) and to purchase all electricity from the grid. In our model we include the main economic and technical variables of the investment decision process. We also account for the risk and uncertainty inherent in volatile energy prices that can greatly affect the valuation of the investment project. The dynamic stochastic model presented allows us to simultaneously determine the optimal technology choice and investment timing. We apply the theoretical model and illustrate our main findings with a numerical example that is based on realistic cost values for industrial oil- or gas-fired cogeneration and heat-only generation in Switzerland. We also briefly discuss expected effects of a CO 2 tax on the investment decision

  8. Optimal Regulation of Lumpy Investments

    NARCIS (Netherlands)

    Zwart, G.; Broer, D.P.

    2012-01-01

    When a monopolist has discretion over the timing of infrastructure investments, regulation of post-investment prices interferes with incentivizing socially optimal investment timing. In a model of regulated lumpy investment under uncertainty, we study regulation when the regulator can condition

  9. Optimal Investment in Structured Bonds

    DEFF Research Database (Denmark)

    Jessen, Pernille; Jørgensen, Peter Løchte

    The paper examines the role of structured bonds in the optimal portfolio of a small retail investor. We consider the typical structured bond essentially repacking an exotic option and a zero coupon bond, i.e. an investment with portfolio insurance. The optimal portfolio is found when the investment...

  10. Optimal Technology Investment and Operation in Zero-Net-Energy Buildings with Demand Response

    International Nuclear Information System (INIS)

    Stadler, Michael; Siddiqui, Afzal; Marnay, Chris; Hirohisa, Aki; Lai, Judy

    2009-01-01

    The US Department of Energy has launched the Zero-Net-Energy (ZNE) Commercial Building Initiative (CBI) in order to develop commercial buildings that produce as much energy as they use. Its objective is to make these buildings marketable by 2025 such that they minimize their energy use through cutting-edge energy-efficient technologies and meet their remaining energy needs through on-site renewable energy generation. We examine how such buildings may be implemented within the context of a cost- or carbon-minimizing microgrid that is able to adopt and operate various technologies, such as photovoltaic (PV) on-site generation, heat exchangers, solar thermal collectors, absorption chillers, and passive/demand-response technologies. We use a mixed-integer linear program (MILP) that has a multi-criteria objective function: the minimization of a weighted average of the building's annual energy costs and carbon/CO2 emissions. The MILP's constraints ensure energy balance and capacity limits. In addition, constraining the building's energy consumed to equal its energy exports enables us to explore how energy sales and demand-response measures may enable compliance with the CBI. Using a nursing home in northern California and New York with existing tariff rates and technology data, we find that a ZNE building requires ample PV capacity installed to ensure electricity sales during the day. This is complemented by investment in energy-efficient combined heat and power equipment, while occasional demand response shaves energy consumption. A large amount of storage is also adopted, which may be impractical. Nevertheless, it shows the nature of the solutions and costs necessary to achieve ZNE. For comparison, we analyze a nursing home facility in New York to examine the effects of a flatter tariff structure and different load profiles. It has trouble reaching ZNE status and its load reductions as well as efficiency measures need to be more effective than those in the CA case

  11. Optimal diversity in investments with recombinant innovation

    NARCIS (Netherlands)

    Zeppini, P.; van den Bergh, J.C.J.M.

    2013-01-01

    The notion of dynamic, endogenous diversity and its role in theories of investment and technological innovation is addressed. We develop a formal model of an innovation arising from the combination of two existing modules, with the objective to optimize the net benefits of diversity. The model takes

  12. Optimal diversity in investments with recombinant innovation

    NARCIS (Netherlands)

    Zeppini-Rossi, P.; van den Bergh, J.C.J.M.

    2008-01-01

    The notion of dynamic, endogenous diversity and its role in theories of investment and technological innovation is addressed. We develop a formal model of an innovation arising from the combination of two existing modules with the objective to optimize the net benefits of diversity. The model takes

  13. Dispositional optimism and stock investments

    NARCIS (Netherlands)

    Angelini, Viola; Cavapozzi, D.

    This paper analyzes the relationship between dispositional optimism and stock investments, controlling for cognitive skills and personality traits such as trust, social interactions and risk aversion. We use data from the Survey of Health, Ageing and Retirement in Europe (SHARE) on investors aged

  14. Optimal lag in dynamical investments

    OpenAIRE

    Serva, M.

    1998-01-01

    A portfolio of different stocks and a risk-less security whose composition is dynamically maintained stable by trading shares at any time step leads to a growth of the capital with a nonrandom rate. This is the key for the theory of optimal-growth investment formulated by Kelly. In presence of transaction costs, the optimal composition changes and, more important, it turns out that the frequency of transactions must be reduced. This simple observation leads to the definition of an optimal lag...

  15. Optimal Investment Control of Macroeconomic Systems

    Institute of Scientific and Technical Information of China (English)

    ZHAO Ke-jie; LIU Chuan-zhe

    2006-01-01

    Economic growth is always accompanied by economic fluctuation. The target of macroeconomic control is to keep a basic balance of economic growth, accelerate the optimization of economic structures and to lead a rapid, sustainable and healthy development of national economies, in order to propel society forward. In order to realize the above goal, investment control must be regarded as the most important policy for economic stability. Readjustment and control of investment includes not only control of aggregate investment, but also structural control which depends on economic-technology relationships between various industries of a national economy. On the basis of the theory of a generalized system, an optimal investment control model for government has been developed. In order to provide a scientific basis for government to formulate a macroeconomic control policy, the model investigates the balance of total supply and aggregate demand through an adjustment in investment decisions realizes a sustainable and stable growth of the national economy. The optimal investment decision function proposed by this study has a unique and specific expression, high regulating precision and computable characteristics.

  16. Investment under uncertainty : Timing and capacity optimization

    NARCIS (Netherlands)

    Wen, Xingang

    2017-01-01

    This thesis consists of three chapters on analyzing the optimal investment timing and investment capacity for the firm(s) undertaking irreversible investment in an uncertain environment. Chapter 2 studies the investment decision of a monopoly firm when it can adjust output quantity in a market with

  17. Optimal Cycle Time and Preservation Technology Investment for Deteriorating Items with Price-sensitive Stock-dependent Demand Under Inflation

    Science.gov (United States)

    Shah, Nita H.; Shah, Arpan D.

    2014-04-01

    The article analyzes economic order quantity for the retailer who has to handle imperfect quality of the product and the units are subject to deteriorate at a constant rate. To control deterioration of the units in inventory, the retailer has to deploy advanced preservation technology. Another challenge for the retailer is to have perfect quality product. This requires mandatory inspection during the production process. This model is developed with the condition of random fraction of defective items. It is assumed that after inspection, the screened defective items are sold at a discounted rate instantly. Demand is considered to be price-sensitive stock-dependent. The model is incorporating effect of inflation which is critical factor globally. The objective is to maximize profit of the retailer with respect to preservation technology investment, order quantity and cycle time. The numerical example is given to validate the proposed model. Sensitivity analysis is carried out to work out managerial issues.

  18. Optimal Priority Structure, Capital Structure, and Investment

    OpenAIRE

    Dirk Hackbarth; David C. Mauer

    2012-01-01

    We study the interaction between financing and investment decisions in a dynamic model, where the firm has multiple debt issues and equityholders choose the timing of investment. Jointly optimal capital and priority structures can virtually eliminate investment distortions because debt priority serves as a dynamically optimal contract. Examining the relative efficiency of priority rules observed in practice, we develop several predictions about how firms adjust their priority structure in res...

  19. Control of Greenhouse Gas Emissions by Optimal DER Technology Investment and Energy Management in Zero-Net-Energy Buildings

    International Nuclear Information System (INIS)

    Stadler, Michael; Siddiqui, Afzal; Marnay, Chris; Aki, Hirohisa; Lai, Judy

    2009-01-01

    The U.S. Department of Energy has launched the commercial building initiative (CBI) in pursuit of its research goal of achieving zero-net-energy commercial buildings (ZNEB), i.e. ones that produce as much energy as they use. Its objective is to make these buildings marketable by 2025 such that they minimize their energy use through cutting-edge, energy-efficiency technologies and meet their remaining energy needs through on-site renewable energy generation. This paper examines how such buildings may be implemented within the context of a cost- or CO2-minimizing microgrid that is able to adopt and operate various technologies: photovoltaic modules (PV) and other on-site generation, heat exchangers, solar thermal collectors, absorption chillers, and passive/demand-response technologies. A mixed-integer linear program (MILP) that has a multi-criteria objective function is used. The objective is minimization of a weighted average of the building's annual energy costs and CO2 emissions. The MILP's constraints ensure energy balance and capacity limits. In addition, constraining the building's energy consumed to equal its energy exports enables us to explore how energy sales and demand-response measures may enable compliance with the ZNEB objective. Using a commercial test site in northernCalifornia with existing tariff rates and technology data, we find that a ZNEB requires ample PV capacity installed to ensure electricity sales during the day. This is complemented by investment in energy-efficient combined heat and power (CHP) equipment, while occasional demand response shaves energy consumption. A large amount of storage is also adopted, which may be impractical. Nevertheless, it shows the nature of the solutions and costs necessary to achieve a ZNEB. Additionally, the ZNEB approach does not necessary lead to zero-carbon (ZC) buildings as is frequently argued. We also show a multi-objective frontier for the CA example, whichallows us to estimate the needed technologies

  20. Innovation investment area: Technology summary

    International Nuclear Information System (INIS)

    1994-03-01

    The mission of Environmental Management's (EM) Office of Technology Development (OTD) Innovation Investment Area is to identify and provide development support for two types of technologies that are developed to characterize, treat and dispose of DOE waste, and to remediate contaminated sites. They are: technologies that show promise to address specific EM needs, but require proof-of-principle experimentation; and (2) already proven technologies in other fields that require critical path experimentation to demonstrate feasibility for adaptation to specific EM needs. The underlying strategy is to ensure that private industry, other Federal Agencies, universities, and DOE National Laboratories are major participants in developing and deploying new and emerging technologies. To this end, about 125 different new and emerging technologies are being developed through Innovation Investment Area's (IIA) two program elements: RDDT ampersand E New Initiatives (RD01) and Interagency Agreements (RD02). Both of these activities are intended to foster research and development partnerships so as to introduce innovative technologies into other OTD program elements for expedited evaluation

  1. Innovation investment area: Technology summary

    Energy Technology Data Exchange (ETDEWEB)

    1994-03-01

    The mission of Environmental Management`s (EM) Office of Technology Development (OTD) Innovation Investment Area is to identify and provide development support for two types of technologies that are developed to characterize, treat and dispose of DOE waste, and to remediate contaminated sites. They are: technologies that show promise to address specific EM needs, but require proof-of-principle experimentation; and (2) already proven technologies in other fields that require critical path experimentation to demonstrate feasibility for adaptation to specific EM needs. The underlying strategy is to ensure that private industry, other Federal Agencies, universities, and DOE National Laboratories are major participants in developing and deploying new and emerging technologies. To this end, about 125 different new and emerging technologies are being developed through Innovation Investment Area`s (IIA) two program elements: RDDT&E New Initiatives (RD01) and Interagency Agreements (RD02). Both of these activities are intended to foster research and development partnerships so as to introduce innovative technologies into other OTD program elements for expedited evaluation.

  2. Optimal Investment in Structured Bonds

    DEFF Research Database (Denmark)

    Jessen, Pernille; Jørgensen, Peter Løchte

    2012-01-01

    of the article is to provide possible explanations for the puzzle of why small retail investors hold structured bonds. The investment universe consists of a stock index, a risk-free bank account, and a structured bond containing an option written on another index. We apply expected utility maximization...

  3. Optimal Deterministic Investment Strategies for Insurers

    Directory of Open Access Journals (Sweden)

    Ulrich Rieder

    2013-11-01

    Full Text Available We consider an insurance company whose risk reserve is given by a Brownian motion with drift and which is able to invest the money into a Black–Scholes financial market. As optimization criteria, we treat mean-variance problems, problems with other risk measures, exponential utility and the probability of ruin. Following recent research, we assume that investment strategies have to be deterministic. This leads to deterministic control problems, which are quite easy to solve. Moreover, it turns out that there are some interesting links between the optimal investment strategies of these problems. Finally, we also show that this approach works in the Lévy process framework.

  4. A model for optimization of process integration investments under uncertainty

    International Nuclear Information System (INIS)

    Svensson, Elin; Stroemberg, Ann-Brith; Patriksson, Michael

    2011-01-01

    The long-term economic outcome of energy-related industrial investment projects is difficult to evaluate because of uncertain energy market conditions. In this article, a general, multistage, stochastic programming model for the optimization of investments in process integration and industrial energy technologies is proposed. The problem is formulated as a mixed-binary linear programming model where uncertainties are modelled using a scenario-based approach. The objective is to maximize the expected net present value of the investments which enables heat savings and decreased energy imports or increased energy exports at an industrial plant. The proposed modelling approach enables a long-term planning of industrial, energy-related investments through the simultaneous optimization of immediate and later decisions. The stochastic programming approach is also suitable for modelling what is possibly complex process integration constraints. The general model formulation presented here is a suitable basis for more specialized case studies dealing with optimization of investments in energy efficiency. -- Highlights: → Stochastic programming approach to long-term planning of process integration investments. → Extensive mathematical model formulation. → Multi-stage investment decisions and scenario-based modelling of uncertain energy prices. → Results illustrate how investments made now affect later investment and operation opportunities. → Approach for evaluation of robustness with respect to variations in probability distribution.

  5. Advocating investments in information technology

    International Nuclear Information System (INIS)

    Nirenberg, L.M.

    1992-01-01

    Information and communication systems can improve the timeliness and quality of decisions. These benefits are strategically important to the utility industry in an era of increasing competition. Because these systems often do not reduce labor cost, however, they can be difficult to evaluate. This report presents a new process for reaching consensus of the value of capital investment in information and communication systems. The results of this project is A Strategic Advocacy Process (ASAP), a methodology that can be used to evaluate investments in information technology. ASAP uses belief graphs to produce a living business case showing facts, assumptions, goals, and metrics for measuring progress toward those goals; shows how to use option pricing theory to quantify the value of managerial flexibility; ASAP uses an organizational impact assessment tool to identify the potential impact of new information systems and how to realize the benefits of managerial flexibility. The ASAP methodology addresses the critical problem of correctly valuing information and communication systems. The methodology offers a way to account for the ''intangible'' value of these systems by recognizing the managerial flexibility these systems can provide in addressing risks and uncovering new business opportunities. Metrics for measuring progress toward new goals can be defined, and plans for achieving the goals can be made. As a result, agreement can be reached on the uses, value, and priority of projects based on a metric other than on labor replacement savings

  6. Optimal security investments and extreme risk.

    Science.gov (United States)

    Mohtadi, Hamid; Agiwal, Swati

    2012-08-01

    In the aftermath of 9/11, concern over security increased dramatically in both the public and the private sector. Yet, no clear algorithm exists to inform firms on the amount and the timing of security investments to mitigate the impact of catastrophic risks. The goal of this article is to devise an optimum investment strategy for firms to mitigate exposure to catastrophic risks, focusing on how much to invest and when to invest. The latter question addresses the issue of whether postponing a risk mitigating decision is an optimal strategy or not. Accordingly, we develop and estimate both a one-period model and a multiperiod model within the framework of extreme value theory (EVT). We calibrate these models using probability measures for catastrophic terrorism risks associated with attacks on the food sector. We then compare our findings with the purchase of catastrophic risk insurance. © 2012 Society for Risk Analysis.

  7. Financing investment in environmentally sound technologies: Foreign direct investment versus foreign debt finance

    International Nuclear Information System (INIS)

    Anyangah, Joshua Okeyo

    2010-01-01

    This paper develops a screening model to examine the relationship between alternative sources of private capital and investment in environmentally sound technologies (ESTs). In the model, a polluter (agent) must secure investment funds from the international financial markets in order to upgrade its production and abatement technology. The requisite capital can be obtained via either market loans (debt finance) or foreign direct investment (FDI). Under debt finance, the foreign financier supplies only capital and the relationship between the two parties is more 'arms-length'. By contrast, under FDI, the investor delivers both capital and managerial skills. We use the model to derive the implications of debt finance for optimal investment decisions and compare them to those obtained under FDI. Investment incentives are more pronounced under debt finance. (author)

  8. Optimization of the investment casting process

    Directory of Open Access Journals (Sweden)

    M. Martinez-Hernandez

    2012-04-01

    Full Text Available Rapid prototyping is an important technique for manufacturing. This work refers to the manufacture of hollow patterns made of polymeric materials by rapid prototyping technologies for its use in the preparation of ceramic molds in the investment casting process. This work is focused on the development of a process for manufacturing patterns different from those that currently exist due to its hollow interior design, allowing its direct use in the fabrication of ceramic molds; avoiding cracking and fracture during the investment casting process, which is an important process for the foundry industry.

  9. Optimization of investments in gas networks

    International Nuclear Information System (INIS)

    Andre, J.

    2010-09-01

    The natural gas networks require very important investments to cope with a still growing demand and to satisfy the new regulatory constraints. The gas market deregulation imposed to the gas network operators, first, transparency rules of a natural monopoly to justify their costs and ultimately their tariffs, and, second, market fluidity objectives in order to facilitate access for competition to the end-users. These major investments are the main reasons for the use of optimization techniques aiming at reducing the costs. Due to the discrete choices (investment location, limited choice of additional capacities, timing) crossed with physical non linear constraints (flow/pressures relations in the pipe or operating ranges of compressors), the programs to solve are Large Mixed Non Linear Programs (MINLP). As these types of programs are known to be hard to solve exactly in polynomial times (NP-hard), advanced optimization methods have to be implemented to obtain realistic results. The objectives of this thesis are threefold. First, one states several investment problems modeling of natural gas networks from industrial world motivations. Second, one identifies the most suitable methods and algorithms to the formulated problems. Third, one exposes the main advantages and drawbacks of these methods with the help of numerical applications on real cases. (author)

  10. Minimal investment risk of a portfolio optimization problem with budget and investment concentration constraints

    Science.gov (United States)

    Shinzato, Takashi

    2017-02-01

    In the present paper, the minimal investment risk for a portfolio optimization problem with imposed budget and investment concentration constraints is considered using replica analysis. Since the minimal investment risk is influenced by the investment concentration constraint (as well as the budget constraint), it is intuitive that the minimal investment risk for the problem with an investment concentration constraint can be larger than that without the constraint (that is, with only the budget constraint). Moreover, a numerical experiment shows the effectiveness of our proposed analysis. In contrast, the standard operations research approach failed to identify accurately the minimal investment risk of the portfolio optimization problem.

  11. Input price risk and optimal timing of energy investment: choice between fossil- and biofuels

    Energy Technology Data Exchange (ETDEWEB)

    Murto, Pauli; Nese, Gjermund

    2002-05-01

    We consider energy investment, when a choice has to be made between fossil fuel and biomass fired production technologies. A dynamic model is presented to illustrate the effect of the different degrees of input price uncertainty on the choice of technology and the timing of the investment. It is shown that when the choice of technology is irreversible, it may be optimal to postpone the investment even if it would otherwise be optimal to invest in one or both of the plant types. We provide a numerical example based on cost, estimates of two different power plant types. (author)

  12. Input price risk and optimal timing of energy investment: choice between fossil- and biofuels

    International Nuclear Information System (INIS)

    Murto, Pauli; Nese, Gjermund

    2002-01-01

    We consider energy investment, when a choice has to be made between fossil fuel and biomass fired production technologies. A dynamic model is presented to illustrate the effect of the different degrees of input price uncertainty on the choice of technology and the timing of the investment. It is shown that when the choice of technology is irreversible, it may be optimal to postpone the investment even if it would otherwise be optimal to invest in one or both of the plant types. We provide a numerical example based on cost, estimates of two different power plant types. (author)

  13. Capital optimization: linking investment with strategic intent.

    Science.gov (United States)

    Fine, Allan; Bacchetti, J Alex

    2004-01-01

    With operating margins showing some improvement in 2003, Y2K being a distant memory, and many critical capital investment decisions delayed as long as possible, hospitals have been on a relative spending spree, building new facilities, renovating operating rooms and inpatient units, and investing in new medical and information technologies. However, with pressure on both cost and revenue expected to continue, if not increase, this spending spree may be short-lived, and hospitals must improve their capital planning efforts; align them with their mission, vision, and strategies; and ensure that capital is available when unplanned or even expected needs arise. This article explores some of the challenges that hospitals face in their capital planning efforts and, more importantly, suggests the necessity for hospitals to integrate capital and strategic planning. Capital planning must be driven by an organization's strategies; however, we also argue that an organization's ability to execute its strategies is highly dependent on the existence of a cohesive capital prioritization and planning process. In this article, we explore a number of issues critical to developing a comprehensive capital plan, including estimating capital costs, evaluating and designing strategies to contend with risk, saving for the proverbial "rainy day," and recognizing the role and value of philanthropy, while challenging some conventional thinking of hospital executives with respect to investment, growth, and planning.

  14. Strategic Technology Investment Analysis: An Integrated System Approach

    Science.gov (United States)

    Adumitroaie, V.; Weisbin, C. R.

    2010-01-01

    Complex technology investment decisions within NASA are increasingly difficult to make such that the end results are satisfying the technical objectives and all the organizational constraints. Due to a restricted science budget environment and numerous required technology developments, the investment decisions need to take into account not only the functional impact on the program goals, but also development uncertainties and cost variations along with maintaining a healthy workforce. This paper describes an approach for optimizing and qualifying technology investment portfolios from the perspective of an integrated system model. The methodology encompasses multi-attribute decision theory elements and sensitivity analysis. The evaluation of the degree of robustness of the recommended portfolio provides the decision-maker with an array of viable selection alternatives, which take into account input uncertainties and possibly satisfy nontechnical constraints. The methodology is presented in the context of assessing capability development portfolios for NASA technology programs.

  15. Effects of tax depreciation on optimal firm investments

    NARCIS (Netherlands)

    Wielhouwer, J.L.; Kort, P.M.; De Waegenaere, A.M.B.

    1999-01-01

    This paper studies how the difference between technical depreciation and tax depreciation affects the firm's optimal investment strategy. The objective is maximization of shareholder value. When tax depreciation differs from technical depreciation, an additional investment not only generates value

  16. INFORMATION TECHNOLOGY IN INVESTMENT PROJECT MANAGEMENT

    Directory of Open Access Journals (Sweden)

    Vjacheslav A. Kozlov

    2014-01-01

    Full Text Available In the article it is proved that use of information technology today is not only something innovative distinctive feature and competitive advantage for organizations, but it is a necessary condition for effective business. The article discusses the main functionality of financial-analytical system Project Expert as an effective tool of investment project management and instrument of business planning. The main advantages which organizations get from Project Expert program use are in detail considered. Thus in the article Project Expert is considered as the effective tool of investment project management which allows to receive a number of advantages and to carry out the qualitative analysis of projects.

  17. Marshall Space Flight Center Technology Investments Overview

    Science.gov (United States)

    Tinker, Mike

    2014-01-01

    NASA is moving forward with prioritized technology investments that will support NASA's exploration and science missions, while benefiting other Government agencies and the U.S. aerospace enterprise. center dotThe plan provides the guidance for NASA's space technology investments during the next four years, within the context of a 20-year horizon center dotThis plan will help ensure that NASA develops technologies that enable its 4 goals to: 1.Sustain and extend human activities in space, 2.Explore the structure, origin, and evolution of the solar system, and search for life past and present, 3.Expand our understanding of the Earth and the universe and have a direct and measurable impact on how we work and live, and 4.Energize domestic space enterprise and extend benefits of space for the Nation.

  18. Information technology investments must deliver value

    International Nuclear Information System (INIS)

    Schulz, Y.

    1998-01-01

    The value of information technology (IT) management for the petroleum industry was discussed. There are currently two points of view regarding the subject. Adherents of one view hold that the strategic uses of information technology are relevant to the oil and gas industry, while those opposed find no demonstrated connection between information technology investments and business results. This paper addresses the impact of the information paradox, but maintains that information technology is not only valuable but essential to the oil and gas industry. This paper maintains that whenever it is perceived as being of limited use and too expensive, it is usually because it is not well managed. Value management can and should lead to superior outcomes. Neither exploration, nor drilling nor production, nor marketing could exist without information technology as the value is imperative. To further make the case, the nature of information technology value management and the strategies required to achieve value from information technology are reviewed. figs

  19. The Brazilian investment in science and technology

    Directory of Open Access Journals (Sweden)

    Pinheiro-Machado R.

    2001-01-01

    Full Text Available An analysis of Brazilian federal expenditures in science and technology is presented is this study. The 1990-1999 data were compiled from records provided by two federal agencies (MCT and CNPq responsible for managing most of the national budget related to these activities. The results indicate that the federal investments in Brazilian science and technology stagnated during the last decade (US$ 2.32 billion in 1990, US$ 2.39 billion in 1996, and US$ 2.36 billion in 1999. In contrast, a great increase in private investments in research was acknowledged both by industry and by the government during the same period, from US$ 2.12 to US$ 4.64 billion. However, this investment did not result in an increase in invention patents granted to residents (492 in 1990 and only 232 in 1997 or in a reduction of patent costs. Despite this unfavorable scenario, the number of graduate programs in the country has increased two-fold in the last decade and the contribution of Brazilians to the database of the Institute for Scientific Information has increased 4.7-fold from 1990 (2,725 scientific publications to 2000 (12,686 scientific publications. Unstable federal resources for science, together with the poor returns of private resources in terms of developing new technologies, may jeopardize the future of Brazilian technological development.

  20. Optimizing investment fund allocation using vehicle routing problem framework

    Science.gov (United States)

    Mamat, Nur Jumaadzan Zaleha; Jaaman, Saiful Hafizah; Ahmad, Rokiah Rozita

    2014-07-01

    The objective of investment is to maximize total returns or minimize total risks. To determine the optimum order of investment, vehicle routing problem method is used. The method which is widely used in the field of resource distribution shares almost similar characteristics with the problem of investment fund allocation. In this paper we describe and elucidate the concept of using vehicle routing problem framework in optimizing the allocation of investment fund. To better illustrate these similarities, sectorial data from FTSE Bursa Malaysia is used. Results show that different values of utility for risk-averse investors generate the same investment routes.

  1. Modeling energy technology choices. Which investment analysis tools are appropriate?

    International Nuclear Information System (INIS)

    Johnson, B.E.

    1994-01-01

    A variety of tools from modern investment theory appear to hold promise for unraveling observed energy technology investment behavior that often appears anomalous when analyzed using traditional investment analysis methods. This paper reviews the assumptions and important insights of the investment theories most commonly suggested as candidates for explaining the apparent ''energy technology investment paradox''. The applicability of each theory is considered in the light of important aspects of energy technology investment problems, such as sunk costs, uncertainty and imperfect information. The theories addressed include the capital asset pricing model, the arbitrage pricing theory, and the theory of irreversible investment. Enhanced net present value methods are also considered. (author)

  2. Optimal Time to Invest Energy Storage System under Uncertainty Conditions

    Directory of Open Access Journals (Sweden)

    Yongma Moon

    2014-04-01

    Full Text Available This paper proposes a model to determine the optimal investment time for energy storage systems (ESSs in a price arbitrage trade application under conditions of uncertainty over future profits. The adoption of ESSs can generate profits from price arbitrage trade, which are uncertain because the future marginal prices of electricity will change depending on supply and demand. In addition, since the investment is optional, an investor can delay adopting an ESS until it becomes profitable, and can decide the optimal time. Thus, when we evaluate this investment, we need to incorporate the investor’s option which is not captured by traditional evaluation methods. In order to incorporate these aspects, we applied real option theory to our proposed model, which provides an optimal investment threshold. Our results concerning the optimal time to invest show that if future profits that are expected to be obtained from arbitrage trade become more uncertain, an investor needs to wait longer to invest. Also, improvement in efficiency of ESSs can reduce the uncertainty of arbitrage profit and, consequently, the reduced uncertainty enables earlier ESS investment, even for the same power capacity. Besides, when a higher rate of profits is expected and ESS costs are higher, an investor needs to wait longer. Also, by comparing a widely used net present value model to our real option model, we show that the net present value method underestimates the value for ESS investment and misleads the investor to make an investment earlier.

  3. 10 CFR 603.1340 - Technology investment agreement.

    Science.gov (United States)

    2010-01-01

    ... 10 Energy 4 2010-01-01 2010-01-01 false Technology investment agreement. 603.1340 Section 603.1340 Energy DEPARTMENT OF ENERGY (CONTINUED) ASSISTANCE REGULATIONS TECHNOLOGY INVESTMENT AGREEMENTS Definitions of Terms Used in this Part § 603.1340 Technology investment agreement. A TIA is a special type of...

  4. NASA technology investments: building America's future

    Science.gov (United States)

    Peck, Mason

    2013-03-01

    Investments in technology and innovation enable new space missions, stimulate the economy, contribute to the nation's global competitiveness, and inspire America's next generation of scientists, engineers and astronauts. Chief Technologist Mason Peck will provide an overview of NASA's ambitious program of space exploration that builds on new technologies, as well as proven capabilities, as it expands humanity's reach into the solar system while providing broadly-applicable benefits here on Earth. Peck also will discuss efforts of the Office of the Chief Technologist to coordinate the agency's overall technology portfolio, identifying development needs, ensuring synergy and reducing duplication, while furthering the national initiatives as outlined by President Obama's Office of Science and Technology Policy. By coordinating technology programs within NASA, Peck's office facilitates integration of available and new technology into operational systems that support specific human-exploration missions, science missions, and aeronautics. The office also engages other government agencies and the larger aerospace community to develop partnerships in areas of mutual interest that could lead to new breakthrough capabilities. NASA technology transfer translates our air and space missions into societal benefits for people everywhere. Peck will highlight NASA's use of technology transfer and commercialization to help American entrepreneurs and innovators develop technological solutions that stimulate the growth of the innovation economy by creating new products and services, new business and industries and high quality, sustainable jobs.

  5. Long-run savings and investment strategy optimization.

    Science.gov (United States)

    Gerrard, Russell; Guillén, Montserrat; Nielsen, Jens Perch; Pérez-Marín, Ana M

    2014-01-01

    We focus on automatic strategies to optimize life cycle savings and investment. Classical optimal savings theory establishes that, given the level of risk aversion, a saver would keep the same relative amount invested in risky assets at any given time. We show that, when optimizing lifecycle investment, performance and risk assessment have to take into account the investor's risk aversion and the maximum amount the investor could lose, simultaneously. When risk aversion and maximum possible loss are considered jointly, an optimal savings strategy is obtained, which follows from constant rather than relative absolute risk aversion. This result is fundamental to prove that if risk aversion and the maximum possible loss are both high, then holding a constant amount invested in the risky asset is optimal for a standard lifetime saving/pension process and outperforms some other simple strategies. Performance comparisons are based on downside risk-adjusted equivalence that is used in our illustration.

  6. Long-Run Savings and Investment Strategy Optimization

    Directory of Open Access Journals (Sweden)

    Russell Gerrard

    2014-01-01

    Full Text Available We focus on automatic strategies to optimize life cycle savings and investment. Classical optimal savings theory establishes that, given the level of risk aversion, a saver would keep the same relative amount invested in risky assets at any given time. We show that, when optimizing lifecycle investment, performance and risk assessment have to take into account the investor’s risk aversion and the maximum amount the investor could lose, simultaneously. When risk aversion and maximum possible loss are considered jointly, an optimal savings strategy is obtained, which follows from constant rather than relative absolute risk aversion. This result is fundamental to prove that if risk aversion and the maximum possible loss are both high, then holding a constant amount invested in the risky asset is optimal for a standard lifetime saving/pension process and outperforms some other simple strategies. Performance comparisons are based on downside risk-adjusted equivalence that is used in our illustration.

  7. \\t Capital Planning and Investment Control (CPIC) for the Management of Information Technology Investments

    Science.gov (United States)

    Capital Planning and Investment Control (CPIC) is the Information Technology (IT) governance and management methodology in use at EPA for selecting, controlling and evaluating the performance of EPA IT investments throughout the full lifecycle.

  8. Considerations on Optimal Financial Invest ment into Infrastructural Facilities

    Institute of Scientific and Technical Information of China (English)

    2002-01-01

    The enlargement of government's investment into infrastructural construction is both a help medicine curing economic contraction and an effective measure to accumulate long-term economic growth.. However, the investment by finance into infrastructure also has a problem of optimization and reasonable selection. In view of market economic requirements, the policy direction of financial investment into infrastructural industries must be doing something at the expense of some other things. In the process of the adjustment and optimization of economic structure, state financial investment into infrastructural facilities has to first of all solve the problem of delimitating the best fields and selecting trades. As to the infrastructure facilities producing and selling pure public products, the development must be made by financial investment;As to the production fields of subpublic products, finance should ensure reasonable investment; As to the infrastructural facilities of pure privite production, finance should completely, in principle, pull out and let market supply. On this basis, selections should be made on best capital soureces and investment ways. The capital sources should be mainly from tax and regulational income and direct investment may be made. As to the production fields of most subpublic production, the best capital sources are national debt income and indirect investment may be made. In addition, the optimization of financial investment into infrastructural facilities must reform the managerial system of infrastructural facilities and raise investment efficiency. Only by scientifically selecting and arranging the financing ways and managerial system in investment fields,can the maximum economic efficiency and social welfare results be realized in carrying out financial investment into infrastructural facilities.

  9. NASA/ESTO investments in remote sensing technologies (Conference Presentation)

    Science.gov (United States)

    Babu, Sachidananda R.

    2017-02-01

    For more then 18 years NASA Earth Science Technology Office has been investing in remote sensing technologies. During this period ESTO has invested in more then 900 tasks. These tasks are managed under multiple programs like Instrument Incubator Program (IIP), Advanced Component Technology (ACT), Advanced Information Systems Technology (AIST), In-Space Validation of Earth Science Technologies (InVEST), Sustainable Land Imaging - Technology (SLI-T) and others. This covers the whole spectrum of technologies from component to full up satellite in space and software. Over the years many of these technologies have been infused into space missions like Aquarius, SMAP, CYGNSS, SWOT, TEMPO and others. Over the years ESTO is actively investing in Infrared sensor technologies for space applications. Recent investments have been for SLI-T and InVEST program. On these tasks technology development is from simple Bolometers to Advanced Photonic waveguide based spectrometers. Some of the details on these missions and technologies will be presented.

  10. ESTO Investments in Innovative Sensor Technologies for Remote Sensing

    Science.gov (United States)

    Babu, Sachidananda R.

    2017-01-01

    For more then 18 years NASA Earth Science Technology Office has been investing in remote sensing technologies. During this period ESTO has invested in more then 900 tasks. These tasks are managed under multiple programs like Instrument Incubator Program (IIP), Advanced Component Technology (ACT), Advanced Information Systems Technology (AIST), In-Space Validation of Earth Science Technologies (InVEST), Sustainable Land Imaging - Technology (SLI-T) and others. This covers the whole spectrum of technologies from component to full up satellite in space and software. Over the years many of these technologies have been infused into space missions like Aquarius, SMAP, CYGNSS, SWOT, TEMPO and others. Over the years ESTO is actively investing in Infrared sensor technologies for space applications. Recent investments have been for SLI-T and InVEST program. On these tasks technology development is from simple Bolometers to Advanced Photonic waveguide based spectrometers. Some of the details on these missions and technologies will be presented.

  11. Applications of polynomial optimization in financial risk investment

    Science.gov (United States)

    Zeng, Meilan; Fu, Hongwei

    2017-09-01

    Recently, polynomial optimization has many important applications in optimization, financial economics and eigenvalues of tensor, etc. This paper studies the applications of polynomial optimization in financial risk investment. We consider the standard mean-variance risk measurement model and the mean-variance risk measurement model with transaction costs. We use Lasserre's hierarchy of semidefinite programming (SDP) relaxations to solve the specific cases. The results show that polynomial optimization is effective for some financial optimization problems.

  12. Optimization Research of Generation Investment Based on Linear Programming Model

    Science.gov (United States)

    Wu, Juan; Ge, Xueqian

    Linear programming is an important branch of operational research and it is a mathematical method to assist the people to carry out scientific management. GAMS is an advanced simulation and optimization modeling language and it will combine a large number of complex mathematical programming, such as linear programming LP, nonlinear programming NLP, MIP and other mixed-integer programming with the system simulation. In this paper, based on the linear programming model, the optimized investment decision-making of generation is simulated and analyzed. At last, the optimal installed capacity of power plants and the final total cost are got, which provides the rational decision-making basis for optimized investments.

  13. Purchasing and inventory management techniques for optimizing inventory investment

    International Nuclear Information System (INIS)

    McFarlane, I.; Gehshan, T.

    1993-01-01

    In an effort to reduce operations and maintenance costs among nuclear plants, many utilities are taking a closer look at their inventory investment. Various approaches for inventory reduction have been used and discussed, but these approaches are often limited to an inventory management perspective. Interaction with purchasing and planning personnel to reduce inventory investment is a necessity in utility efforts to become more cost competitive. This paper addresses the activities that purchasing and inventory management personnel should conduct in an effort to optimize inventory investment while maintaining service-level goals. Other functions within a materials management organization, such as the warehousing and investment recovery functions, can contribute to optimizing inventory investment. However, these are not addressed in this paper because their contributions often come after inventory management and purchasing decisions have been made

  14. Structure Optimization of Safety Investment of Petrochemical Port Enterprises

    Directory of Open Access Journals (Sweden)

    Zhiqiang Hou

    2017-01-01

    Full Text Available Safety investment is an essential guarantee to identify and manage potential security problems in petrochemical port enterprises. The reasonability of safety investment structure determines overall security risks in an enterprise. Based on the definition of risks, combining Cobb-Douglas production function with FTA probability model, and taking Gompertz curve model as the constraint condition, structure optimization model of safety investment is built in order to minimize risks and work out the safety investment structure of petrochemical port enterprises. According to the case study, the calculations indicate that safety investment in corporate management presents a larger growth rate than past years and that unsafe act of human being is the main factor accounting for the greatest probability of occurrence, which is consistent with previous accident investigation results as well as enterprise reality. This testifies that the model is effective and that the results can guide the allocation of safety investment of petrochemical port enterprises scientifically.

  15. Optimal investment with fixed refinancing costs

    OpenAIRE

    Jason G. Cummins; Ingmar Nyman

    2001-01-01

    Case studies show that corporate managers seek financial independence to avoid interference by outside financiers. We incorporate this financial xenophobia as a fixed cost in a simple dynamic model of financing and investment. To avoid refinancing in the future, the firm alters its behavior depending on the extent of its financial xenophobia and the realization of a revenue shock. With a sufficiently adverse shock, the firm holds no liquidity. Otherwise, the firm precautionarily saves and hol...

  16. Optimal Investment by Financially Xenophobic Managers

    OpenAIRE

    Jason G. Cummins; Ingmar Nyman

    2000-01-01

    Case studies show that corporate managers seek financial independence to avoid interference by outside financiers. We incorporate this financial xenophobia as a fixed cost in a simple dynamic model of financing and investment. To avoid refinancing in the future, the firm alters its behavior depending on the extent of its financial xenophobia and the realization of a revenue shock. With a sufficiently adverse shock, the firm holds no liquidity. Otherwise, the firm precautionarily saves and hol...

  17. An integrated model for part-operation allocation and investments in CNC technology

    NARCIS (Netherlands)

    Bokhorst, J.A.C.; Slomp, J.; Suresh, N.

    2002-01-01

    This study addresses the issue of investment appraisal of new technology, specifically computer numerical control (CNC) machine tools in conjunction with optimal allocation of parts and operations on CNC machines as the investments take place. Part-operation allocation is the allocation of parts and

  18. Deterministic mean-variance-optimal consumption and investment

    DEFF Research Database (Denmark)

    Christiansen, Marcus; Steffensen, Mogens

    2013-01-01

    In dynamic optimal consumption–investment problems one typically aims to find an optimal control from the set of adapted processes. This is also the natural starting point in case of a mean-variance objective. In contrast, we solve the optimization problem with the special feature that the consum......In dynamic optimal consumption–investment problems one typically aims to find an optimal control from the set of adapted processes. This is also the natural starting point in case of a mean-variance objective. In contrast, we solve the optimization problem with the special feature...... that the consumption rate and the investment proportion are constrained to be deterministic processes. As a result we get rid of a series of unwanted features of the stochastic solution including diffusive consumption, satisfaction points and consistency problems. Deterministic strategies typically appear in unit......-linked life insurance contracts, where the life-cycle investment strategy is age dependent but wealth independent. We explain how optimal deterministic strategies can be found numerically and present an example from life insurance where we compare the optimal solution with suboptimal deterministic strategies...

  19. An optimization methodology for identifying robust process integration investments under uncertainty

    International Nuclear Information System (INIS)

    Svensson, Elin; Berntsson, Thore; Stroemberg, Ann-Brith; Patriksson, Michael

    2009-01-01

    Uncertainties in future energy prices and policies strongly affect decisions on investments in process integration measures in industry. In this paper, we present a five-step methodology for the identification of robust investment alternatives incorporating explicitly such uncertainties in the optimization model. Methods for optimization under uncertainty (or, stochastic programming) are thus combined with a deep understanding of process integration and process technology in order to achieve a framework for decision-making concerning the investment planning of process integration measures under uncertainty. The proposed methodology enables the optimization of investments in energy efficiency with respect to their net present value or an environmental objective. In particular, as a result of the optimization approach, complex investment alternatives, allowing for combinations of energy efficiency measures, can be analyzed. Uncertainties as well as time-dependent parameters, such as energy prices and policies, are modelled using a scenario-based approach, enabling the identification of robust investment solutions. The methodology is primarily an aid for decision-makers in industry, but it will also provide insight for policy-makers into how uncertainties regarding future price levels and policy instruments affect the decisions on investments in energy efficiency measures. (author)

  20. An optimization methodology for identifying robust process integration investments under uncertainty

    Energy Technology Data Exchange (ETDEWEB)

    Svensson, Elin; Berntsson, Thore [Department of Energy and Environment, Division of Heat and Power Technology, Chalmers University of Technology, SE-412 96 Goeteborg (Sweden); Stroemberg, Ann-Brith [Fraunhofer-Chalmers Research Centre for Industrial Mathematics, Chalmers Science Park, SE-412 88 Gothenburg (Sweden); Patriksson, Michael [Department of Mathematical Sciences, Chalmers University of Technology and Department of Mathematical Sciences, University of Gothenburg, SE-412 96 Goeteborg (Sweden)

    2009-02-15

    Uncertainties in future energy prices and policies strongly affect decisions on investments in process integration measures in industry. In this paper, we present a five-step methodology for the identification of robust investment alternatives incorporating explicitly such uncertainties in the optimization model. Methods for optimization under uncertainty (or, stochastic programming) are thus combined with a deep understanding of process integration and process technology in order to achieve a framework for decision-making concerning the investment planning of process integration measures under uncertainty. The proposed methodology enables the optimization of investments in energy efficiency with respect to their net present value or an environmental objective. In particular, as a result of the optimization approach, complex investment alternatives, allowing for combinations of energy efficiency measures, can be analyzed. Uncertainties as well as time-dependent parameters, such as energy prices and policies, are modelled using a scenario-based approach, enabling the identification of robust investment solutions. The methodology is primarily an aid for decision-makers in industry, but it will also provide insight for policy-makers into how uncertainties regarding future price levels and policy instruments affect the decisions on investments in energy efficiency measures. (author)

  1. Financial optimization of investments in maritime structures

    NARCIS (Netherlands)

    Bischoff van Heemskerck, W.C.; Booy, N.

    1969-01-01

    The designing engineer often comes across the economic decision problem in which the "benefit" of a higher design criterion must be weighed against the "cost". Several methods have been developed to deal with this optimization problem; none of them, however, offer the possibility of introducing the

  2. Healthcare's Future: Strategic Investment in Technology.

    Science.gov (United States)

    Franklin, Michael A

    2018-01-01

    Recent and rapid advances in the implementation of technology have greatly affected the quality and efficiency of healthcare delivery in the United States. Simultaneously, diverse generational pressures-including the consumerism of millennials and unsustainable growth in the costs of care for baby boomers-have accelerated a revolution in healthcare delivery that was marked in 2010 by the passage of the Affordable Care Act.Against this backdrop, Maryland and the Centers for Medicare & Medicaid Services entered into a partnership in 2014 to modernize the Maryland All-Payer Model. Under this architecture, each Maryland hospital negotiates a global budget revenue agreement with the state's rate-setting agency, limiting the hospital's annual revenue to the budgetary cap established by the state.At Atlantic General Hospital (AGH), leaders had established a disciplined strategic planning process in which the board of trustees, medical staff, and administration annually agree on goals and initiatives to achieve the objectives set forth in its five-year strategic plans. This article describes two initiatives to improve care using technology. In 2006, AGH introduced a service guarantee in the emergency room (ER); the ER 30-Minute Promise assures patients that they will be placed in a bed or receive care within 30 minutes of arrival in the ER. In 2007, several independent hospitals in the state formed Maryland eCare to jointly contract for intensive care unit (ICU) physician coverage via telemedicine. This technology allows clinical staff to continuously monitor ICU patients remotely. The positive results of the ER 30-Minute Promise and Maryland eCare program show that technological advances in an independent, small, rural hospital can make a significant impact on its ability to maintain independence. AGH's strategic investments prepared the organization well for the transition in 2014 to a value-based payment system.

  3. Information Technology Investment Strategy Planning: Balance Scorecard Approach

    Directory of Open Access Journals (Sweden)

    Henny Hendarti

    2011-05-01

    Full Text Available Purpose of this research are to prepare the IT investment strategy using Balanced Scorecard approach in the company where the appropriate planning of this IT investment strategy can maximize the competitive benefit in the company, and it also to recommended a strategy of IT investment that can be implemented and measure the rate of return from the IT investment in the company. Research Method used book studies, field studies, and analysis system. Book studies from the books and journal. Field studies done by observation, interview, and questioner, and analysis system done by analyzed the ongoing system in the company. The result from this analysis is a recommendation in investment IT such as sales module, payment module, and report module. Then for the conclusion, this information technology investment planning can be develop to another investment implementation such authorized website of the company and using PDA (Personal Digital AssistantIndex Terms - Planning, Information Technology, Investment, Balance Scorecard

  4. Optimization of Investment Planning Based on Game-Theoretic Approach

    Directory of Open Access Journals (Sweden)

    Elena Vladimirovna Butsenko

    2018-03-01

    Full Text Available The game-theoretic approach has a vast potential in solving economic problems. On the other hand, the theory of games itself can be enriched by the studies of real problems of decision-making. Hence, this study is aimed at developing and testing the game-theoretic technique to optimize the management of investment planning. This technique enables to forecast the results and manage the processes of investment planning. The proposed method of optimizing the management of investment planning allows to choose the best development strategy of an enterprise. This technique uses the “game with nature” model, and the Wald criterion, the maximum criterion and the Hurwitz criterion as criteria. The article presents a new algorithm for constructing the proposed econometric method to optimize investment project management. This algorithm combines the methods of matrix games. Furthermore, I show the implementation of this technique in a block diagram. The algorithm includes the formation of initial data, the elements of the payment matrix, as well as the definition of maximin, maximal, compromise and optimal management strategies. The methodology is tested on the example of the passenger transportation enterprise of the Sverdlovsk Railway in Ekaterinburg. The application of the proposed methodology and the corresponding algorithm allowed to obtain an optimal price strategy for transporting passengers for one direction of traffic. This price strategy contributes to an increase in the company’s income with minimal risk from the launch of this direction. The obtained results and conclusions show the effectiveness of using the developed methodology for optimizing the management of investment processes in the enterprise. The results of the research can be used as a basis for the development of an appropriate tool and applied by any economic entity in its investment activities.

  5. Exploring the evolution of investment pattern on advanced manufacturing technology

    DEFF Research Database (Denmark)

    Yang, Cheng; Matthiesen, Rikke Vestergaard; Johansen, John

    2014-01-01

    This paper explores the evolution of investment pattern on advanced manufacturing technology in a manner that builds on a longitudinal perspective. Based on the data of investments in AMTs from 567 manufacturing companies this paper develops a longitudinal taxonomy defined by the evolution of inv...... of technology management, which is comprised primarily of cross-sectional studies that do not address the dynamic nature of investments in AMTs.......This paper explores the evolution of investment pattern on advanced manufacturing technology in a manner that builds on a longitudinal perspective. Based on the data of investments in AMTs from 567 manufacturing companies this paper develops a longitudinal taxonomy defined by the evolution...... of investment patterns on AMT followed by companies over time; identifies the possible evolutionary features of different groups of companies; and suggests the possible explanatory and outcome factors on the evolution of investment pattern on AMTs. By doing so, this study seeks to fill a void in the area...

  6. Output-based allocation and investment in clean technologies

    Energy Technology Data Exchange (ETDEWEB)

    Rosendahl, Knut Einar; Storroesten, Halvor Briseid

    2011-07-01

    Allocation of emission allowances may affect firms' incentives to invest in clean technologies. In this paper we show that so-called output-based allocation tends to stimulate such investments as long as individual firms do not assume the regulator to tighten the allocation rule as a consequence of their investments. The explanation is that output-based allocation creates an implicit subsidy to the firms' output, which increases production, leads to a higher price of allowances, and thus increases the incentives to invest in clean technologies. On the other hand, if the firms expect the regulator to tighten the allocation rule after observing their clean technology investment, the firms' incentives to invest are moderated. If strong, this last effect may outweigh the enhanced investment incentives induced by increased output and higher allowance price. (Author)

  7. Choosing the right amount of healthcare information technologies investments.

    Science.gov (United States)

    Meyer, Rodolphe; Degoulet, Patrice

    2010-04-01

    Choosing and justifying the right amount of investment in healthcare information technologies (HITECH or HIT) in hospitals is an ever increasing challenge. Our objectives are to assess the financial impact of HIT on hospital outcome, and propose decision-helping tools that could be used to rationalize the distribution of hospital finances. We used a production function and microeconomic tools on data of 21 Paris university hospitals recorded from 1998 to 2006 to compute the elasticity coefficients of HIT versus non-HIT capital and labor as regards to hospital financial outcome and optimize the distribution of investments according to the productivity associated with each input. HIT inputs and non-HIT inputs both have a positive and significant impact on hospital production (elasticity coefficients respectively of 0.106 and 0.893; R(2) of 0.92). We forecast 2006 results from the 1998 to 2005 dataset with an accuracy of +0.61%. With the model used, the best proportion of HIT investments was estimated to be 10.6% of total input and this was predicted to lead to a total saving of 388 million Euros for the 2006 dataset. Considering HIT investment from the point of view of a global portfolio and applying econometric and microeconomic tools allow the required confidence level to be attained for choosing the right amount of HIT investments. It could also allow hospitals using these tools to make substantial savings, and help them forecast their choices for the following year for better HITECH governance in the current stimulation context. (c) 2010 Elsevier Ireland Ltd. All rights reserved.

  8. Investment Strategies Optimization based on a SAX-GA Methodology

    CERN Document Server

    Canelas, António M L; Horta, Nuno C G

    2013-01-01

    This book presents a new computational finance approach combining a Symbolic Aggregate approXimation (SAX) technique with an optimization kernel based on genetic algorithms (GA). While the SAX representation is used to describe the financial time series, the evolutionary optimization kernel is used in order to identify the most relevant patterns and generate investment rules. The proposed approach considers several different chromosomes structures in order to achieve better results on the trading platform The methodology presented in this book has great potential on investment markets.

  9. Optimal Investment in Age-Structured Goodwill

    OpenAIRE

    Silvia Faggian; Luca Grosset

    2012-01-01

    Segmentation is a core strategy in modern marketing, and age-specific segmentation based on the age of the consumers is very common in practice. Age-specific segmentation enables the change of the segments composition during time and can be studied only by means of dynamic advertising models. Here we assume that a firm wants to optimally promote and sell a single product in an age-segmented market and we model the awareness of this product using an infinite dimensional Nerlove-Arrow goodwill ...

  10. Optimal Investment Planning of Bulk Energy Storage Systems

    Directory of Open Access Journals (Sweden)

    Dina Khastieva

    2018-02-01

    Full Text Available Many countries have the ambition to increase the share of renewable sources in electricity generation. However, continuously varying renewable sources, such as wind power or solar energy, require that the power system can manage the variability and uncertainty of the power generation. One solution to increase flexibility of the system is to use various forms of energy storage, which can provide flexibility to the system at different time ranges and smooth the effect of variability of the renewable generation. In this paper, we investigate three questions connected to investment planning of energy storage systems. First, how the existing flexibility in the system will affect the need for energy storage investments. Second, how presence of energy storage will affect renewable generation expansion and affect electricity prices. Third, who should be responsible for energy storage investments planning. This paper proposes to assess these questions through two different mathematical models. The first model is designed for centralized investment planning and the second model deals with a decentralized investment approach where a single independent profit maximizing utility is responsible for energy storage investments. The models have been applied in various case studies with different generation mixes and flexibility levels. The results show that energy storage system is beneficial for power system operation. However, additional regulation should be considered to achieve optimal investment and allocation of energy storage.

  11. Optimal investment and consumption when allowing terminal debt

    NARCIS (Netherlands)

    Chen, A.; Vellekoop, M.

    2017-01-01

    We analyze a dynamic optimization problem which involves the consumption and investment of an investor with constant relative risk aversion for consumption but with a risk aversion for final wealth which does not necessarily imply that terminal wealth must always be positive. We require risk

  12. An Optimal Stochastic Investment and Consumption Strategy with ...

    African Journals Online (AJOL)

    This paper considers a single investor who owns a production plant that generates units of consumption goods in a capitalist economy. The goal is to choose optimal investment and consumption policies that maximize the finite horizon expected discounted logarithmic utility of consumption and terminal wealth. A dynamical ...

  13. Optimizing power system investments and resilience against attacks

    International Nuclear Information System (INIS)

    Fang, Yiping; Sansavini, Giovanni

    2017-01-01

    This paper studies the combination of capacity expansion and switch installation in electric systems that ensures optimum performance under nominal operations and attacks. The planner–attacker–defender model is adopted to develop decisions that minimize investment and operating costs, and functionality loss after attacks. The model bridges long-term system planning for transmission expansion and short-term switching operations in reaction to attacks. The mixed-integer optimization is solved by decomposition via two-layer cutting plane algorithm. Numerical results on an IEEE system shows that small investments in transmission line switching enhance resilience by responding to disruptions via system reconfiguration. Sensitivity analyses show that transmission planning under the assumption of small-scale attacks provides the most robust strategy, i.e. the minimum-regret planning, if many constraints and limited investment budget affect the planning. On the other hand, the assumption of large-scale attacks provides the most robust strategy if the planning process involves large flexibility and budget. - Highlights: • Investment optimization in power systems under attacks is presented. • Capacity expansion and switch installation for system reconfiguration are combined. • The problem is solved by decomposition via two-layer cutting plane algorithm. • Small investments in switch installation enhance resilience by response to attacks. • Sensitivity analyses identify robust planning against different attack scenarios.

  14. Optimal investment strategies in decentralized renewable power generation under uncertainty

    International Nuclear Information System (INIS)

    Fleten, S.-E.; Maribu, K.M.; Wangensteen, I.

    2007-01-01

    This paper presents a method for evaluating investments in decentralized renewable power generation under price un certainty. The analysis is applicable for a client with an electricity load and a renewable resource that can be utilized for power generation. The investor has a deferrable opportunity to invest in one local power generating unit, with the objective to maximize the profits from the opportunity. Renewable electricity generation can serve local load when generation and load coincide in time, and surplus power can be exported to the grid. The problem is to find the price intervals and the capacity of the generator at which to invest. Results from a case with wind power generation for an office building suggests it is optimal to wait for higher prices than the net present value break-even price under price uncertainty, and that capacity choice can depend on the current market price and the price volatility. With low price volatility there can be more than one investment price interval for different units with intermediate waiting regions between them. High price volatility increases the value of the investment opportunity, and therefore makes it more attractive to postpone investment until larger units are profitable. (author)

  15. Financial options methodology for analyzing investments in new technology

    Energy Technology Data Exchange (ETDEWEB)

    Wenning, B.D. [Texas Utilities Services, Inc., Dallas, TX (United States)

    1994-12-31

    The evaluation of investments in longer term research and development in emerging technologies, because of the nature of such subjects, must address inherent uncertainties. Most notably, future cash flow forecasts include substantial uncertainties. Conventional present value methodology, when applied to emerging technologies severely penalizes cash flow forecasts, and strategic investment opportunities are at risk of being neglected. Use of options valuation methodology adapted from the financial arena has been introduced as having applicability in such technology evaluations. Indeed, characteristics of superconducting magnetic energy storage technology suggest that it is a candidate for the use of options methodology when investment decisions are being contemplated.

  16. Financial options methodology for analyzing investments in new technology

    Science.gov (United States)

    Wenning, B. D.

    1995-01-01

    The evaluation of investments in longer term research and development in emerging technologies, because of the nature of such subjects, must address inherent uncertainties. Most notably, future cash flow forecasts include substantial uncertainties. Conventional present value methodology, when applied to emerging technologies severely penalizes cash flow forecasts, and strategic investment opportunities are at risk of being neglected. Use of options evaluation methodology adapted from the financial arena has been introduced as having applicability in such technology evaluations. Indeed, characteristics of superconducting magnetic energy storage technology suggest that it is a candidate for the use of options methodology when investment decisions are being contemplated.

  17. Financial options methodology for analyzing investments in new technology

    International Nuclear Information System (INIS)

    Wenning, B.D.

    1994-01-01

    The evaluation of investments in longer term research and development in emerging technologies, because of the nature of such subjects, must address inherent uncertainties. Most notably, future cash flow forecasts include substantial uncertainties. Conventional present value methodology, when applied to emerging technologies severely penalizes cash flow forecasts, and strategic investment opportunities are at risk of being neglected. Use of options valuation methodology adapted from the financial arena has been introduced as having applicability in such technology evaluations. Indeed, characteristics of superconducting magnetic energy storage technology suggest that it is a candidate for the use of options methodology when investment decisions are being contemplated

  18. Making optimal investment decisions for energy service companies under uncertainty: A case study

    International Nuclear Information System (INIS)

    Deng, Qianli; Jiang, Xianglin; Zhang, Limao; Cui, Qingbin

    2015-01-01

    Varied initial energy efficiency investments would result in different annual energy savings achievements. In order to balance the savings revenue and the potential capital loss through EPC (Energy Performance Contracting), a cost-effective investment decision is needed when selecting energy efficiency technologies. In this research, an approach is developed for the ESCO (Energy Service Company) to evaluate the potential energy savings profit, and thus make the optimal investment decisions. The energy savings revenue under uncertainties, which are derived from energy efficiency performance variation and energy price fluctuation, are first modeled as stochastic processes. Then, the derived energy savings profit is shared by the owner and the ESCO according to the contract specification. A simulation-based model is thus built to maximize the owner's profit, and at the same time, satisfy the ESCO's expected rate of return. In order to demonstrate the applicability of the proposed approach, the University of Maryland campus case is also presented. The proposed method could not only help the ESCO determine the optimal energy efficiency investments, but also assist the owner's decision in the bidding selection. - Highlights: • An optimization model is built for determining energy efficiency investment for ESCO. • Evolution of the energy savings revenue is modeled as a stochastic process. • Simulation is adopted to calculate investment balancing the owner and the ESCO's profit. • A campus case is presented to demonstrate applicability of the proposed approach

  19. Optimal control, investment and utilization schemes for energy storage under uncertainty

    Science.gov (United States)

    Mirhosseini, Niloufar Sadat

    Energy storage has the potential to offer new means for added flexibility on the electricity systems. This flexibility can be used in a number of ways, including adding value towards asset management, power quality and reliability, integration of renewable resources and energy bill savings for the end users. However, uncertainty about system states and volatility in system dynamics can complicate the question of when to invest in energy storage and how best to manage and utilize it. This work proposes models to address different problems associated with energy storage within a microgrid, including optimal control, investment, and utilization. Electric load, renewable resources output, storage technology cost and electricity day-ahead and spot prices are the factors that bring uncertainty to the problem. A number of analytical methodologies have been adopted to develop the aforementioned models. Model Predictive Control and discretized dynamic programming, along with a new decomposition algorithm are used to develop optimal control schemes for energy storage for two different levels of renewable penetration. Real option theory and Monte Carlo simulation, coupled with an optimal control approach, are used to obtain optimal incremental investment decisions, considering multiple sources of uncertainty. Two stage stochastic programming is used to develop a novel and holistic methodology, including utilization of energy storage within a microgrid, in order to optimally interact with energy market. Energy storage can contribute in terms of value generation and risk reduction for the microgrid. The integration of the models developed here are the basis for a framework which extends from long term investments in storage capacity to short term operational control (charge/discharge) of storage within a microgrid. In particular, the following practical goals are achieved: (i) optimal investment on storage capacity over time to maximize savings during normal and emergency

  20. Technology transfers, foreign investment and productivity spillovers

    DEFF Research Database (Denmark)

    Newman, Carol; Rand, John; Talbot, Theodore Purdendu

    2015-01-01

    This paper explores the relationship between foreign direct investment (FDI) and the productivity of host country domestic firms. We rely on a specially designed survey of over 4000 manufacturing firms in Vietnam, and separate out productivity gains along the supply chain (obtained through direct...

  1. Technology Transfer, Foreign Direct Investment and Economic ...

    African Journals Online (AJOL)

    2015-05-29

    May 29, 2015 ... Investment and Economic Growth in Nigeria. Omojola ... view of FDI and trade, towards a more friendly view, by using FDI and trade as ..... the automatically selected Schwarz Info Criterion and the maximum lags, in ..... National Bureau of Statistics [NBS], 2007, 'National account of Nigeria: 1981-. 2006' ...

  2. NASA ESTO Lidar Technologies Investment Strategy: 2016 Decadal Update

    Science.gov (United States)

    Valinia, Azita; Komar, George J.; Tratt, David M.; Lotshaw, William T.; Gaab, Kevin M.

    2017-01-01

    The NASA Earth Science Technology Office (ESTO) recently updated its investment strategy in the area of lidar technologies as it pertains to NASA's Earth Science measurement goals in the next decade. The last ESTO lidar strategy was documented in 2006. The current (2016) report assesses the state-of-the-art in lidar technologies a decade later. Lidar technology maturation in the past decade has been evaluated, and the ESTO investment strategy is updated and laid out in this report according to current NASA Earth science measurement needs and new emerging technologies.

  3. Notification: EPA Investments in Information Technology Products and Services

    Science.gov (United States)

    Project #OA-FY14-0307, June 10, 2014. The U.S. Environmental Protection Agency (EPA) Office oflnspector General (OIG) plans to begin preliminary research on the EPA's management of information technology (IT) investments.

  4. Investment Strategy of Emission-Reduction Technology in a Supply Chain

    Directory of Open Access Journals (Sweden)

    Gao Xiang Lou

    2015-08-01

    Full Text Available Greenhouse gas emissions have serious impacts on the natural environment. Therefore, the restrictions imposed on carbon emission force enterprises to take carbon emission into consideration when making production decisions. In this paper, in the context of allowing emission trading and investment of emission reduction technology, models were presented for a two-stage supply chain to analyze the optimal investment and pricing decisions. The results indicate that manufacturer’s endurance capacity of reduction difficulty is higher in the cooperation model than in the Stackelberg game model, and that perfect coordination of supply chains can be realized by a revenue sharing contract. From the perspective of a consumer, low-carbon products mean higher price, so that subsidies or tax exemptions should be provided to keep low prices. Meanwhile, the government can promote investment in emission-reduction technologies and achieve its emission reduction targets by controlling emission trading price, strengthening emission reduction publicity and providing technology investment subsidies.

  5. Investment appraisal of technology innovations on dairy farm electricity consumption.

    Science.gov (United States)

    Upton, J; Murphy, M; De Boer, I J M; Groot Koerkamp, P W G; Berentsen, P B M; Shalloo, L

    2015-02-01

    The aim of this study was to conduct an investment appraisal for milk-cooling, water-heating, and milk-harvesting technologies on a range of farm sizes in 2 different electricity-pricing environments. This was achieved by using a model for electricity consumption on dairy farms. The model simulated the effect of 6 technology investment scenarios on the electricity consumption and electricity costs of the 3 largest electricity-consuming systems within the dairy farm (i.e., milk-cooling, water-heating, and milking machine systems). The technology investment scenarios were direct expansion milk-cooling, ice bank milk-cooling, milk precooling, solar water-heating, and variable speed drive vacuum pump-milking systems. A dairy farm profitability calculator was combined with the electricity consumption model to assess the effect of each investment scenario on the total discounted net income over a 10-yr period subsequent to the investment taking place. Included in the calculation were the initial investments, which were depreciated to zero over the 10-yr period. The return on additional investment for 5 investment scenarios compared with a base scenario was computed as the investment appraisal metric. The results of this study showed that the highest return on investment figures were realized by using a direct expansion milk-cooling system with precooling of milk to 15°C with water before milk entry to the storage tank, heating water with an electrical water-heating system, and using standard vacuum pump control on the milking system. Return on investment figures did not exceed the suggested hurdle rate of 10% for any of the ice bank scenarios, making the ice bank system reliant on a grant aid framework to reduce the initial capital investment and improve the return on investment. The solar water-heating and variable speed drive vacuum pump scenarios failed to produce positive return on investment figures on any of the 3 farm sizes considered on either the day and night

  6. Investments in technology subject to uncertainty. Analysis and policy

    DEFF Research Database (Denmark)

    Pedersen, Jørgen Lindgaard

    1997-01-01

    Investments in technology are today of such a magnitude that it matters. In the paper there are three important questions. First on the question in which sense technological uncertainty can be said to be a problem. Second on strategies for diminishing technological uncertainties. Three on policy...

  7. Optimizing accelerator technology

    CERN Multimedia

    Katarina Anthony

    2012-01-01

    A new EU-funded research and training network, oPAC, is bringing together 22 universities, research centres and industry partners to optimize particle accelerator technology. CERN is one of the network’s main partners and will host 5 early-stage researchers in the BE department.   A diamond detector that will be used for novel beam diagnostics applications in the oPAC project based at CIVIDEC. (Image courtesy of CIVIDEC.) As one of the largest Marie Curie Initial Training Networks ever funded by the EU – to the tune of €6 million – oPAC extends well beyond the particle physics community. “Accelerator physics has become integral to research in almost every scientific discipline – be it biology and life science, medicine, geology and material science, or fundamental physics,” explains Carsten P. Welsch, oPAC co-ordinator based at the University of Liverpool. “By optimizing the operation of accelerators, all of these...

  8. Heat savings and heat generation technologies: Modelling of residential investment behaviour with local health costs

    International Nuclear Information System (INIS)

    Zvingilaite, Erika; Klinge Jacobsen, Henrik

    2015-01-01

    The trade-off between investing in energy savings and investing in individual heating technologies with high investment and low variable costs in single family houses is modelled for a number of building and consumer categories in Denmark. For each group the private economic cost of providing heating comfort is minimised. The private solution may deviate from the socio-economical optimal solution and we suggest changes to policy to incentivise the individuals to make choices more in line with the socio-economic optimal mix of energy savings and technologies. The households can combine their primary heating source with secondary heating e.g. a woodstove. This choice results in increased indoor air pollution with fine particles causing health effects. We integrate health cost due to use of woodstoves into household optimisation of heating expenditures. The results show that due to a combination of low costs of primary fuel and low environmental performance of woodstoves today, included health costs lead to decreased use of secondary heating. Overall the interdependence of heat generation technology- and heat saving-choice is significant. The total optimal level of heat savings for private consumers decrease by 66% when all have the option to shift to the technology with lowest variable costs. - Highlights: • Heat saving investment and heat technology choice are interdependent. • Health damage costs should be included in private heating choice optimisation. • Flexibility in heating technology choice reduce the optimal level of saving investments. • Models of private and socioeconomic optimal heating produce different technology mix. • Rebound effects are moderate but varies greatly among consumer categories

  9. CREATION OF OPTIMAL PERFORMANCE OF AN INVESTMENT PROJECT

    Directory of Open Access Journals (Sweden)

    Višnja Vojvodić Rosenzweig

    2010-12-01

    Full Text Available The selection of an investment project is formulated as a multi-criteria decision-making problem. This paper presents a case in which the decision-maker uses nine criteria or rather attributes (Net Present Value, Internal Rate of Return, Payback Period, Accounting Rate of Return, Cumulative Cash Flows, Return on Investment, Net Profit Margin, Interest Coverage Ratio and Current Ratio. Individual utility functions are constructed for each attribute separately, as well as a global utility function representing a weighted sum of individual utility functions. For every attribute a finite set of ordered pairs or utility points is determined, taking into account the decision-maker’s assessment. The given points are then approximated by the utility function. Finally, according to the decision-maker’s assessment the optimization problem is solved with the purpose of achieving an optimal performance for each project. By way of negotiation the performances on offer approach the optimal performance of the project with the purpose of realising an agreement between the decision-maker and the investor.

  10. Technology Transfer, Foreign Direct Investment and International Trade

    OpenAIRE

    Leonard K. Cheng

    2000-01-01

    By developing a Ricardian trade model that features technology transfer via foreign direct investment (FDI), we show that technology transfer via multinational enterprises (MNEs) increases world output and trade in goods and services. When there are many goods a continuous reduction in the cost of technology transfer will cause increasingly more technologically advanced goods to go through the product cycle, i.e., goods initially produced in the advanced North are later produced in the backwa...

  11. The Investments in Renewable Energy Sources: Do Low Carbon Economies Better Invest in Green Technologies?

    Directory of Open Access Journals (Sweden)

    Antonio Angelo Romano

    2011-01-01

    Full Text Available The aim of this study is to analyse the driving of investment in renewable energy sources in low carbon and high carbon economies. To address these issues, a dynamic panel analysis of the renewable investment in a sample of 29 countries was proposed. Results demonstrate that the dynamic of investments in renewable sources is similar in the two panels, and depends by nuclear power generation, GDP and technological efficiency. Results show that countries try to reduce their environmental footprint, decreasing the CO2 intensity. Based on the estimation results, we think that energy sustainability passes through the use of renewable resources that can complement the nuclear technology on condition that both exceed their limits.

  12. Optimal Investment Under Transaction Costs: A Threshold Rebalanced Portfolio Approach

    Science.gov (United States)

    Tunc, Sait; Donmez, Mehmet Ali; Kozat, Suleyman Serdar

    2013-06-01

    We study optimal investment in a financial market having a finite number of assets from a signal processing perspective. We investigate how an investor should distribute capital over these assets and when he should reallocate the distribution of the funds over these assets to maximize the cumulative wealth over any investment period. In particular, we introduce a portfolio selection algorithm that maximizes the expected cumulative wealth in i.i.d. two-asset discrete-time markets where the market levies proportional transaction costs in buying and selling stocks. We achieve this using "threshold rebalanced portfolios", where trading occurs only if the portfolio breaches certain thresholds. Under the assumption that the relative price sequences have log-normal distribution from the Black-Scholes model, we evaluate the expected wealth under proportional transaction costs and find the threshold rebalanced portfolio that achieves the maximal expected cumulative wealth over any investment period. Our derivations can be readily extended to markets having more than two stocks, where these extensions are pointed out in the paper. As predicted from our derivations, we significantly improve the achieved wealth over portfolio selection algorithms from the literature on historical data sets.

  13. A Duopoly Manufacturers’ Game Model Considering Green Technology Investment under a Cap-and-Trade System

    Directory of Open Access Journals (Sweden)

    Yi Zheng

    2018-03-01

    Full Text Available This research studied the duopoly manufacturers’ decision-making considering green technology investment and under a cap-and-trade system. It was assumed there were two manufacturers producing products which were substitutable for one another. On the basis of this assumption, the optimal production capacity, price, and green technology investment of the duopoly manufacturers under a cap-and-trade system were obtained. The increase or decrease of the optimal production quantity of the duopoly manufacturers under a cap-and-trade system was decided by their green technology level. The increase of the optimal price as well as the increase or decrease of the maximum expected profits were decided by the initial carbon emission quota granted by the government. Our research indicates that the carbon emission of unit product is inversely proportional to the market share of an enterprise and becomes an important index to measure the core competitiveness of an enterprise.

  14. Optimal Operations and Resilient Investments in Steam Networks

    Energy Technology Data Exchange (ETDEWEB)

    Bungener, Stéphane L., E-mail: stephane.bungener@a3.epfl.ch [Industrial Process and Energy Systems Engineering, École Polytechnique Fédérale de Lausanne, Lausanne (Switzerland); Van Eetvelde, Greet [Environmental and Spatial Management, Faculty of Engineering and Architecture, Ghent University, Ghent (Belgium); Maréchal, François [Industrial Process and Energy Systems Engineering, École Polytechnique Fédérale de Lausanne, Lausanne (Switzerland)

    2016-01-20

    Steam is a key energy vector for industrial sites, most commonly used for process heating and cooling, cogeneration of heat and mechanical power as a motive fluid or for stripping. Steam networks are used to carry steam from producers to consumers and between pressure levels through letdowns and steam turbines. The steam producers (boilers, heat and power cogeneration units, heat exchangers, chemical reactors) should be sized to supply the consumers at nominal operating conditions as well as peak demand. First, this paper proposes an Mixed Integer Linear Programing formulation to optimize the operations of steam networks in normal operating conditions and exceptional demand (when operating reserves fall to zero), through the introduction of load shedding. Optimization of investments based on operational and investment costs are included in the formulation. Though rare, boiler failures can have a heavy impact on steam network operations and costs, leading to undercapacity and unit shutdowns. A method is therefore proposed to simulate steam network operations when facing boiler failures. Key performance indicators are introduced to quantify the network’s resilience. The proposed methods are applied and demonstrated in an industrial case study using industrial data. The results indicate the importance of oversizing key steam producing equipments and the value of industrial symbiosis to increase industrial site resilience.

  15. Optimal Operations and Resilient Investments in Steam Networks

    International Nuclear Information System (INIS)

    Bungener, Stéphane L.; Van Eetvelde, Greet; Maréchal, François

    2016-01-01

    Steam is a key energy vector for industrial sites, most commonly used for process heating and cooling, cogeneration of heat and mechanical power as a motive fluid or for stripping. Steam networks are used to carry steam from producers to consumers and between pressure levels through letdowns and steam turbines. The steam producers (boilers, heat and power cogeneration units, heat exchangers, chemical reactors) should be sized to supply the consumers at nominal operating conditions as well as peak demand. First, this paper proposes an Mixed Integer Linear Programing formulation to optimize the operations of steam networks in normal operating conditions and exceptional demand (when operating reserves fall to zero), through the introduction of load shedding. Optimization of investments based on operational and investment costs are included in the formulation. Though rare, boiler failures can have a heavy impact on steam network operations and costs, leading to undercapacity and unit shutdowns. A method is therefore proposed to simulate steam network operations when facing boiler failures. Key performance indicators are introduced to quantify the network’s resilience. The proposed methods are applied and demonstrated in an industrial case study using industrial data. The results indicate the importance of oversizing key steam producing equipments and the value of industrial symbiosis to increase industrial site resilience.

  16. Technology Transfer, Foreign Direct Investment and Economic ...

    African Journals Online (AJOL)

    The aim of this study is to investigate the long-run equilibrium relationship between various international factors and economic growth, as well as to assess the short-term impact of inward FDI, trade and economic growth on international technology transfer to Nigeria. To achieve this, the study used a time series data from ...

  17. How Korean Venture Capitals Invest In New Technology Ventures

    Directory of Open Access Journals (Sweden)

    Youngkeun Choi

    2013-01-01

    Full Text Available In the entrepreneurship field, this study examines what kinds of external endorsements are helpful for venture capitals investment and the growth of new technology ventures in developing countries. This study uses the signalling theory and the methodologies of multiple regression and survival analysis with the panel data of the ventures in Korea. In the results, collaboration with business groups and certification of government are positively influential in attracting venture capitals’ investment, which accelerate the growth of new technology ventures. The practical implication for entrepreneurs is that they need to obtain the endorsement from business groups and governments strategically.

  18. A System Model of Increasing the Investment Potential of Technologically Unrelated Sectors

    Directory of Open Access Journals (Sweden)

    Melnyk Alexander G.

    2016-02-01

    Full Text Available The article presents a theoretical substantiation and the progress of practical application of the method for evaluating lagged effects of increasing the investment potential of interaction between industries in meso-level innovation systems on the example of the high-tech sector of Ukraine. The interaction data are considered in terms of their formation in such technologically unrelated sectors as the industrial sector and sector of education and sciences. It has been determined that the analytical basis to form the models of increasing the investment potential in innovation systems of meso-level should be presented by a comprehensive integrated assessment of all sectors involved in the reproduction process including technologically unrelated sectors of highly structured innovative systems. There has been proposed a system model of increasing the investment potential of the high-tech sector taking into account the optimization and synergy effects for system decisions concerning technologically unrelated sectors in economic systems of innovation type of reproduction.

  19. Optimal Investment Timing and Size of a Logistics Park: A Real Options Perspective

    Directory of Open Access Journals (Sweden)

    Dezhi Zhang

    2017-01-01

    Full Text Available This paper uses a real options approach to address optimal timing and size of a logistics park investment with logistics demand volatility. Two important problems are examined: when should an investment be introduced, and what size should it be? A real option model is proposed to explicitly incorporate the effect of government subsidies on logistics park investment. Logistic demand that triggers the threshold for investment in a logistics park project is explored analytically. Comparative static analyses of logistics park investment are also carried out. Our analytical results show that (1 investors will select smaller sized logistics parks and prepone the investment if government subsidies are considered; (2 the real option will postpone the optimal investment timing of logistics parks compared with net present value approach; and (3 logistic demands can significantly affect the optimal investment size and timing of logistics park investment.

  20. Design of investment management optimization system for power grid companies under new electricity reform

    Science.gov (United States)

    Yang, Chunhui; Su, Zhixiong; Wang, Xin; Liu, Yang; Qi, Yongwei

    2017-03-01

    The new normalization of the economic situation and the implementation of a new round of electric power system reform put forward higher requirements to the daily operation of power grid companies. As an important day-to-day operation of power grid companies, investment management is directly related to the promotion of the company's operating efficiency and management level. In this context, the establishment of power grid company investment management optimization system will help to improve the level of investment management and control the company, which is of great significance for power gird companies to adapt to market environment changing as soon as possible and meet the policy environment requirements. Therefore, the purpose of this paper is to construct the investment management optimization system of power grid companies, which includes investment management system, investment process control system, investment structure optimization system, and investment project evaluation system and investment management information platform support system.

  1. Investment appraisal of technology innovations on dairy farm electricity consumption

    NARCIS (Netherlands)

    Upton, J.; Murphy, M.; Boer, de I.J.M.; Groot Koerkamp, P.W.G.; Berentsen, P.B.M.; Shalloo, L.

    2015-01-01

    The aim of this study was to conduct an investment appraisal for milk-cooling, water-heating, and milk-harvesting technologies on a range of farm sizes in 2 different electricity-pricing environments. This was achieved by using a model for electricity consumption on dairy farms. The model simulated

  2. Managerial optimism and the impact of cash flow sensitivity on corporate investment: The case of Greece

    Directory of Open Access Journals (Sweden)

    Dimitrios I. Maditinos

    2015-10-01

    Full Text Available Purpose - The existence of optimism as a personal psychological characteristic of managers is a necessity in contemporary economy and decision making, although the phenomenon of over-optimism may lead to unfavourable outcomes. The purpose of this study is to examine the optimism bias and its impact on the firms' future performance. Especially regarding the recent years where Greece faces increased economic depression, high percentages of unemployment and lack of budgetary discipline, the goal is therefore, to find whether managerial optimism has an impact on corporate investment of Greek firms. Design/methodology/approach - The investment of firms with optimistic managers is more sensitive to cash flow than the investment of firms with managers who are not optimistic. To test the research question a number of fixed effect panel regressions of capital expenditures (capital expenditures divided by lagged assets is the dependent variable is run. In all regressions we analyse cash flow divided by lagged assets and lagged Tobin's Q as the independent variables, for firms whose managers are classified as optimistic and not optimistic. This classification is based on the optimism "dummy" variable, which is equal to 1 when members of the Executive Board and the Supervisory Board (ALL, only the Executive Board (EB, and only CEO are classified as optimistic. The concept of this study is tested for firms which are listed in the Athens Stock Exchange. A total of 243 firms are recorded, for the time period between 2007 and 2012, including firms from 11 different industries; basic materials, chemicals, consumer goods, consumer services, health care, industrials, financials, oil and gas, technology, telecommunications and utilities. Based on the literature and on related methodology aspects, financial firms are excluded. Findings - It was revealed that managerial optimism affects corporate investment in firms with high degree of closely held shares. Moreover

  3. Evaluation of Representative Smart Grid Investment Project Technologies: Demand Response

    Energy Technology Data Exchange (ETDEWEB)

    Fuller, Jason C.; Prakash Kumar, Nirupama; Bonebrake, Christopher A.

    2012-02-14

    This document is one of a series of reports estimating the benefits of deploying technologies similar to those implemented on the Smart Grid Investment Grant (SGIG) projects. Four technical reports cover the various types of technologies deployed in the SGIG projects, distribution automation, demand response, energy storage, and renewables integration. A fifth report in the series examines the benefits of deploying these technologies on a national level. This technical report examines the impacts of a limited number of demand response technologies and implementations deployed in the SGIG projects.

  4. DETERMINATION OF THE OPTIMAL CAPITAL INVESTMENTS TO ENSURE THE SUSTAINABLE DEVELOPMENT OF THE RAILWAY

    Directory of Open Access Journals (Sweden)

    O. I. Kharchenko

    2015-04-01

    Full Text Available Purpose. Every year more attention is paid for the theoretical and practical issue of sustainable development of railway transport. But today the mechanisms of financial support of this development are poorly understood. Therefore, the aim of this article is to determine the optimal investment allocation to ensure sustainable development of the railway transport on the example of State Enterprise «Prydniprovsk Railway» and the creation of preconditions for the mathematical model development. Methodology. The ensuring task for sustainable development of railway transport is solved on the basis of the integral indicator of sustainable development effectiveness and defined as the maximization of this criterion. The optimization of measures technological and technical characters are proposed to carry out for increasing values of the integral performance measure components. To the optimization activities of technological nature that enhance the performance criteria belongs: optimization of the number of train and shunting locomotives, optimization of power handling mechanisms at the stations, optimization of routes of train flows. The activities related to the technical nature include: modernization of railways in the direction of their electrification and modernization of the running gear and coupler drawbars of rolling stock, as well as means of separators mechanization at stations to reduce noise impacts on the environment. Findings. The work resulted in the optimal allocation of investments to ensure the sustainable development of railway transportation of State Enterprise «Prydniprovsk Railway». This allows providing such kind of railway development when functioning of State Enterprise «Prydniprovsk Railway» is characterized by a maximum value of the integral indicator of efficiency. Originality. The work was reviewed and the new approach was proposed to determine the optimal allocation of capital investments to ensure sustainable

  5. HOSPITAL MANAGERS' NEED FOR INFORMATION ON HEALTH TECHNOLOGY INVESTMENTS

    DEFF Research Database (Denmark)

    Ølholm, Anne Mette; Kidholm, Kristian; Birk-Olsen, Mette

    2015-01-01

    decision makers, is not well described. The objective was to review empirical studies analysing the information that hospital decision makers need when deciding about health technology (HT) investments. METHODS: A systematic review of empirical studies published in English or Danish from 2000 to 2012...... in the literature related to clinical, economic and political/strategic aspects. Legal, social, and ethical aspects were seldom considered most important. CONCLUSIONS: Hospital decision makers are able to describe their information needs when deciding on HT investments. The different types of information were...

  6. State investments in high-technology job growth.

    Science.gov (United States)

    Leicht, Kevin T; Jenkins, J Craig

    2017-07-01

    Since the early 1970's state and local governments have launched an array of economic development programs designed to promote high-technology development. The question our analysis addresses is whether these programs promote long-term high-technology employment growth net of state location and agglomeration advantages. Proponents talk about an infrastructure strategy that promotes investment in public research and specialized infrastructure to attract and grow new high technology industries in specific locations, and a more decentralized entrepreneurial strategy that reinforces local agglomeration capacities by investing in new enterprises and products, promoting the development of local networks and partnerships. Our results support the entrepreneurial strategy, suggesting that state governments can accelerate high technology development by adopting market-supportive programs that complement private sector initiatives. In addition to positive direct benefits of technology deployment/transfer programs and SBIR programs, entrepreneurial programs affect change in high-technology employment in concert with existing locational and agglomeration advantages. Rural (i.e. low population density) states tend to benefit by technology development programs. Infrastructure strategy programs also facilitate high technology job growth in places where local advantages already exist. Our results suggest that critics of industrial policy are correct that high technology growth is organic and endogenous, yet state governments are able to "pick winners and losers" in ways that grow their local economy. Copyright © 2017 Elsevier Inc. All rights reserved.

  7. Optimizing use of library technology.

    Science.gov (United States)

    Wink, Diane M; Killingsworth, Elizabeth K

    2011-01-01

    In this bimonthly series, the author examines how nurse educators can use the Internet and Web-based computer technologies such as search, communication, collaborative writing tools; social networking and social bookmarking sites; virtual worlds; and Web-based teaching and learning programs. This article describes optimizing the use of library technology.

  8. Communication strategies to optimize commitments and investments in iron programming.

    Science.gov (United States)

    Griffiths, Marcia

    2002-04-01

    There is consensus that a communications component is crucial to the success of iron supplementation and fortification programs. However, in many instances, we have not applied what we know about successful advocacy and program communications to iron programs. Communication must play a larger and more central role in iron programs to overcome several common shortcomings and allow the use of new commitments and investments in iron programming to optimum advantage. One shortcoming is that iron program communication has been driven primarily by the supply side of the supply-demand continuum. That is, technical information has been given without thought for what people want to know or do. To overcome this, the communication component, which should be responsive to the consumer perspective, must be considered at program inception, not enlisted late in the program cycle as a remedy when interventions fail to reach their targets. Another shortcoming is the lack of program focus on behavior. Because the "technology" of iron, a supplement, or fortified or specific local food must be combined with appropriate consumer behavior, it is not enough to promote the technology. The appropriate use of technology must be ensured, and this requires precise and strategically crafted communications. A small number of projects from countries as diverse as Indonesia, Egypt, Nicaragua and Peru offer examples of successful communications efforts and strategies for adaptation by other countries.

  9. Optimal investment in a portfolio of HIV prevention programs.

    Science.gov (United States)

    Zaric, G S; Brandeau, M L

    2001-01-01

    In this article, the authors determine the optimal allocation of HIV prevention funds and investigate the impact of different allocation methods on health outcomes. The authors present a resource allocation model that can be used to determine the allocation of HIV prevention funds that maximizes quality-adjusted life years (or life years) gained or HIV infections averted in a population over a specified time horizon. They apply the model to determine the allocation of a limited budget among 3 types of HIV prevention programs in a population of injection drug users and nonusers: needle exchange programs, methadone maintenance treatment, and condom availability programs. For each prevention program, the authors estimate a production function that relates the amount invested to the associated change in risky behavior. The authors determine the optimal allocation of funds for both objective functions for a high-prevalence population and a low-prevalence population. They also consider the allocation of funds under several common rules of thumb that are used to allocate HIV prevention resources. It is shown that simpler allocation methods (e.g., allocation based on HIV incidence or notions of equity among population groups) may lead to alloctions that do not yield the maximum health benefit. The optimal allocation of HIV prevention funds in a population depends on HIV prevalence and incidence, the objective function, the production functions for the prevention programs, and other factors. Consideration of cost, equity, and social and political norms may be important when allocating HIV prevention funds. The model presented in this article can help decision makers determine the health consequences of different allocations of funds.

  10. Medical implants by using RP and investment casting technologies

    Directory of Open Access Journals (Sweden)

    Milan Horacek

    2011-02-01

    Full Text Available The paper deals with the production technology of knee joint replacement by using rapid prototyping technology. The aim of the work is to outline the manufacturing technology intended for prototype production with the use of rapid prototyping and investment casting technology for use in orthopaedics and the surgery of knee joint replacement. The research results should make an effective contribution in the attempts to minimize the invasive surgical procedure, shorten the production of knee joint replacement as well as reduce the cost. At present, the research is focused on the preparation of STL data from CT (Computed Tomography and verification of the production technology of prototypes made using available RP technology and its evaluation.

  11. Integrating energy and environmental goals. Investment needs and technology options

    International Nuclear Information System (INIS)

    2004-04-01

    Economic and population growth will continue to drive an expansion of the global energy market. The Earth's energy resources are undoubtedly adequate to meet rising demand for at least the next three decades. But the projected increases in energy consumption and market developments raise serious concerns about the security of energy supplies, investment in energy infrastructure, the threat of environmental damage caused by energy use and the uneven access of the world's population to modern energy. The first two sections of this background paper provide an outlook for energy demand and emissions over the next thirty years, based on findings in the IEA's World Energy Outlook 2002. Section four presents projections for global investment needs from the latest WEO publication, the World Energy Investment Outlook 2003. For both the energy and investment outlooks, an alternative scenario for OECD countries is examined. The scenarios describe a world in which environmental and energy supply security concerns will continue to plague policy makers. Clearly, changes in power generation, automotive engines and fuel technologies will be required to change trends in energy demand and emissions over the next thirty years and beyond. Improvements in energy efficiency will also play a fundamental role. A number of technologies offer the long term potential to diversify the energy sector away from its present heavy reliance on fossil fuels. Based on various IEA studies, section five evaluates those technologies that offer the potential to reduce emissions, including renewable energy, fossil-fuel use with CO2 capture and storage, nuclear, hydrogen, biofuels and efficient energy end use. No single technology can meet the challenge by itself. Different regions and countries will require different combinations of technologies to best serve their needs and best exploit their indigenous resources. Developing countries, in particular, will face far greater challenges in the years ahead

  12. Recent Investments by NASA's National Force Measurement Technology Capability

    Science.gov (United States)

    Commo, Sean A.; Ponder, Jonathan D.

    2016-01-01

    The National Force Measurement Technology Capability (NFMTC) is a nationwide partnership established in 2008 and sponsored by NASA's Aeronautics Evaluation and Test Capabilities (AETC) project to maintain and further develop force measurement capabilities. The NFMTC focuses on force measurement in wind tunnels and provides operational support in addition to conducting balance research. Based on force measurement capability challenges, strategic investments into research tasks are designed to meet the experimental requirements of current and future aerospace research programs and projects. This paper highlights recent and force measurement investments into several areas including recapitalizing the strain-gage balance inventory, developing balance best practices, improving calibration and facility capabilities, and researching potential technologies to advance balance capabilities.

  13. Does Foreign Direct Investment Transfer Technology Across Borders? A Reexamination

    OpenAIRE

    Jürgen Bitzer; Monika Kerekes

    2005-01-01

    Reexamining foreign direct investment (FDI) as a potential channel for knowledge diffusion -- based on industry data from seventeen OECD countries during the period 1973-2000 -- we find that FDI-receiving countries benefit strongly from FDI-related knowledge spillovers. We do not find evidence for positive FDI-related technology sourcing effects. Instead, our results suggest that outward FDI might have negative effects on the output of the FDI-sending country.

  14. An Optimal Investment Strategy for Insurers in Incomplete Markets

    Directory of Open Access Journals (Sweden)

    Mohamed Badaoui

    2018-04-01

    Full Text Available In this paper we consider the problem of an insurance company where the wealth of the insurer is described by a Cramér-Lundberg process. The insurer is allowed to invest in a risky asset with stochastic volatility subject to the influence of an economic factor and the remaining surplus in a bank account. The price of the risky asset and the economic factor are modeled by a system of correlated stochastic differential equations. In a finite horizon framework and assuming that the market is incomplete, we study the problem of maximizing the expected utility of terminal wealth. When the insurer’s preferences are exponential, an existence and uniqueness theorem is proven for the non-linear Hamilton-Jacobi-Bellman equation (HJB. The optimal strategy and the value function have been produced in closed form. In addition and in order to show the connection between the insurer’s decision and the correlation coefficient we present two numerical approaches: A Monte-Carlo method based on the stochastic representation of the solution of the insurer problem via Feynman-Kac’s formula, and a mixed Finite Difference Monte-Carlo one. Finally the results are presented in the case of Scott model.

  15. Technology Investments in the NASA Entry Systems Modeling Project

    Science.gov (United States)

    Barnhardt, Michael; Wright, Michael; Hughes, Monica

    2017-01-01

    The Entry Systems Modeling (ESM) technology development project, initiated in 2012 under NASAs Game Changing Development (GCD) Program, is engaged in maturation of fundamental research developing aerosciences, materials, and integrated systems products for entry, descent, and landing(EDL)technologies [1]. To date, the ESM project has published over 200 papers in these areas, comprising the bulk of NASAs research program for EDL modeling. This presentation will provide an overview of the projects successes and challenges, and an assessment of future investments in EDL modeling and simulation relevant to NASAs mission

  16. Technology Investment Agendas to Expand Human Space Futures

    Science.gov (United States)

    Sherwood, Brent

    2012-01-01

    The paper develops four alternative core-technology advancement specifications, one for each of the four strategic goal options for government investment in human space flight. Already discussed in the literature, these are: Explore Mars; Settle the Moon; accelerate commercial development of Space Passenger Travel; and enable industrial scale-up of Space Solar Power for Earth. In the case of the Explore Mars goal, the paper starts with the contemporary NASA accounting of ?55 Mars-enabling technologies. The analysis decomposes that technology agenda into technologies applicable only to the Explore Mars goal, versus those applicable more broadly to the other three options. Salient technology needs of all four options are then elaborated to a comparable level of detail. The comparison differentiates how technologies or major developments that may seem the same at the level of budget lines or headlines (e.g., heavy-lift Earth launch) would in fact diverge widely if developed in the service of one or another of the HSF goals. The paper concludes that the explicit choice of human space flight goal matters greatly; an expensive portfolio of challenging technologies would not only enable a particular option, it would foreclose the others. Technologies essential to enable human exploration of Mars cannot prepare interchangeably for alternative futures; they would not allow us to choose later to Settle the Moon, unleash robust growth of Space Passenger Travel industries, or help the transition to a post-petroleum future with Space Solar Power for Earth. The paper concludes that a decades-long decision in the U.S.--whether made consciously or by default--to focus technology investment toward achieving human exploration of Mars someday would effectively preclude the alternative goals in our lifetime.

  17. Optimal R&D Investments of the Firm

    NARCIS (Netherlands)

    Kort, P.M.

    1996-01-01

    This paper examines irreversible decisions on innovative activities where it takes time to complete an R&D project. The totala mountof R&D investments that the firm needs to undertake in order to obtain the breakthrough in the innovation process is uncertain. R&D investments are limited by the

  18. An Optimization Framework for Investment Evaluation of Complex Renewable Energy Systems

    Directory of Open Access Journals (Sweden)

    David Olave-Rojas

    2017-07-01

    Full Text Available Enhancing the role of renewable energies in existing power systems is one of the most crucial challenges that society faces today. However, the high variability of their generation potential and the temporal disparity between the demand and the generation potential represent technological and operational gaps that burden the massive incorporation of renewable sources into power systems. Energy storage technologies are an alternative to tackle this gap; nonetheless, their incorporation within large-scale power grids calls for decision-making tools that ensure an appropriate design and sizing of power systems that exploit the benefits of incorporating storage facilities along with renewable generation power. In this paper, we present an optimization framework for aiding the evaluation of the strategic design of complex renewable power systems. The developed tool relies on an optimization problem, the generation, transmission, storage energy location and sizing problem, which allows one to compute economically-attractive investment plans given by the location and sizing of generation and storage energy systems, along with the corresponding layout of transmission lines. Results on a real case study (located in the central region of Chile, characterized by carefully-curated data, show the potential of the developed tool for aiding long-term investment planning.

  19. Influence Diagram Use With Respect to Technology Planning and Investment

    Science.gov (United States)

    Levack, Daniel J. H.; DeHoff, Bryan; Rhodes, Russel E.

    2009-01-01

    Influence diagrams are relatively simple, but powerful, tools for assessing the impact of choices or resource allocations on goals or requirements. They are very general and can be used on a wide range of problems. They can be used for any problem that has defined goals, a set of factors that influence the goals or the other factors, and a set of inputs. Influence diagrams show the relationship among a set of results and the attributes that influence them and the inputs that influence the attributes. If the results are goals or requirements of a program, then the influence diagram can be used to examine how the requirements are affected by changes to technology investment. This paper uses an example to show how to construct and interpret influence diagrams, how to assign weights to the inputs and attributes, how to assign weights to the transfer functions (influences), and how to calculate the resulting influences of the inputs on the results. A study is also presented as an example of how using influence diagrams can help in technology planning and investment. The Space Propulsion Synergy Team (SPST) used this technique to examine the impact of R&D spending on the Life Cycle Cost (LCC) of a space transportation system. The question addressed was the effect on the recurring and the non-recurring portions of LCC of the proportion of R&D resources spent to impact technology objectives versus the proportion spent to impact operational dependability objectives. The goals, attributes, and the inputs were established. All of the linkages (influences) were determined. The weighting of each of the attributes and each of the linkages was determined. Finally the inputs were varied and the impacts on the LCC determined and are presented. The paper discusses how each of these was accomplished both for credibility and as an example for future studies using influence diagrams for technology planning and investment planning.

  20. Investments

    CERN Document Server

    Bodie, Zvi; Marcus, Alan J.

    2017-01-01

    The integrated solutions for Bodie, Kane, and Marcus' Investments set the standard for graduate/MBA investments textbooks. The unifying theme is that security markets are nearly efficient, meaning that most securities are priced appropriately given their risk and return attributes. The content places greater emphasis on asset allocation and offers a much broader and deeper treatment of futures, options, and other derivative security markets than most investment texts. Connect is the only integrated learning system that empowers students by continuously adapting to deliver precisely what they need, when they need it, and how they need it, so that your class time is more engaging and effective.

  1. Reform of investment policy in the function of sustainable development with special emphasis on investment in information technologies

    Directory of Open Access Journals (Sweden)

    Dragičević-Radičević Tatjana

    2017-01-01

    Full Text Available Global economy still records a decline in FDI. The main causes are increased economic instability and geopolitical risks. Given the continued negative trend, it is clear that it is necessary to reform the investment policies at the national, regional, bilateral, multilateral and international level, to ensure sustainable economic development. Key elements of the reforms are: to provide instruments to reduce risks, create mechanisms of responsible investment, improve the structural coherence and promote regional investments. Refer to the current dates of the sectors investments (according to the report of UNCTAD from 2015th shows that the services sector recorded double growth compared to the investment in the manufacturing sector in 2012. Also, if we take into consideration the fact that investment in IT sector investment involves three aspects: transactional (minimizing costs, strategic (innovation technologies, achieving competitiveness and information (improving access to information and communications, it may be assumed that the reforms in the investment policies should be directly correlated with investments in information technology.

  2. Investments

    CERN Document Server

    Bodie, Zvi

    2013-01-01

    The integrated solutions for Bodie, Kane, and Marcus' Investments set the standard for graduate/MBA investments textbooks. The unifying theme is that security markets are nearly efficient, meaning that most securities are priced appropriately given their risk and return attributes. The content places greater emphasis on asset allocation and offers a much broader and deeper treatment of futures, options, and other derivative security markets than most investment texts. McGraw-Hill's adaptive learning component, LearnSmart, provides assignable modules that help students master chapter core concepts and come to class more prepared. Bodie Investments' blend of practical and theoretical coverage combines with a complete digital solution to help your students achieve higher outcomes in the course

  3. Advanced Information Technology Investments at the NASA Earth Science Technology Office

    Science.gov (United States)

    Clune, T.; Seablom, M. S.; Moe, K.

    2012-12-01

    The NASA Earth Science Technology Office (ESTO) regularly makes investments for nurturing advanced concepts in information technology to enable rapid, low-cost acquisition, processing and visualization of Earth science data in support of future NASA missions and climate change research. In 2012, the National Research Council published a mid-term assessment of the 2007 decadal survey for future spacemissions supporting Earth science and applications [1]. The report stated, "Earth sciences have advanced significantly because of existing observational capabilities and the fruit of past investments, along with advances in data and information systems, computer science, and enabling technologies." The report found that NASA had responded favorably and aggressively to the decadal survey and noted the role of the recent ESTO solicitation for information systems technologies that partnered with the NASA Applied Sciences Program to support the transition into operations. NASA's future missions are key stakeholders for the ESTO technology investments. Also driving these investments is the need for the Agency to properly address questions regarding the prediction, adaptation, and eventual mitigation of climate change. The Earth Science Division has championed interdisciplinary research, recognizing that the Earth must be studied as a complete system in order toaddress key science questions [2]. Information technology investments in the low-mid technology readiness level (TRL) range play a key role in meeting these challenges. ESTO's Advanced Information Systems Technology (AIST) program invests in higher risk / higher reward technologies that solve the most challenging problems of the information processing chain. This includes the space segment, where the information pipeline begins, to the end user, where knowledge is ultimatelyadvanced. The objectives of the program are to reduce the risk, cost, size, and development time of Earth Science space-based and ground

  4. Optimal investment strategies and hedging of derivatives in the presence of transaction costs (Invited Paper)

    Science.gov (United States)

    Muratore-Ginanneschi, Paolo

    2005-05-01

    Investment strategies in multiplicative Markovian market models with transaction costs are defined using growth optimal criteria. The optimal strategy is shown to consist in holding the amount of capital invested in stocks within an interval around an ideal optimal investment. The size of the holding interval is determined by the intensity of the transaction costs and the time horizon. The inclusion of financial derivatives in the models is also considered. All the results presented in this contributions were previously derived in collaboration with E. Aurell.

  5. Investment cash flow sensitivity under managerial optimism: new evidence from NYSE panel data firms

    OpenAIRE

    Mohamed, Ezzeddine Ben; Fairchild, Richard; Bouri, Abdelfettah

    2014-01-01

    Investment cash flow sensitivity constitutes one important block of the corporate financial literature. While it is well documented in standard corporate finance, it is still young under behavioral corporate finance. In this paper, we test the investment cash flow sensitivity among panel data of American industrial firms during 1999-2010. Using Q-model of investment (Tobin, 1969), we construct and introduce a proxy of managerial optimism following Malmendier and Tate (2005a) to show the impac...

  6. Optimal Housing, Consumption, and Investment Decisions over the Life Cycle

    DEFF Research Database (Denmark)

    Kraft, Holger; Munk, Claus

    2011-01-01

    We derive explicit solutions to life-cycle utility maximization problems involving stock and bond investment, perishable consumption, and the rental and ownership of residential real estate. Prices of houses, stocks and bonds, and labor income are correlated. Because of a positive correlation...... between house prices and labor income, young individuals want little exposure to house price risk and tend to rent their home. Later in life the desired housing investment increases and will eventually reach and exceed the desired consumption, suggesting that the individual should buy his home—and either...... additional housing units (for renting out) or house price–linked financial assets. In the final years, preferences shift back to home rental. The derived strategies are still useful if housing positions are only reset infrequently. Our results suggest that markets for real estate investment trusts or other...

  7. Portfolio Optimization of Nanomaterial Use in Clean Energy Technologies.

    Science.gov (United States)

    Moore, Elizabeth A; Babbitt, Callie W; Gaustad, Gabrielle; Moore, Sean T

    2018-04-03

    While engineered nanomaterials (ENMs) are increasingly incorporated in diverse applications, risks of ENM adoption remain difficult to predict and mitigate proactively. Current decision-making tools do not adequately account for ENM uncertainties including varying functional forms, unique environmental behavior, economic costs, unknown supply and demand, and upstream emissions. The complexity of the ENM system necessitates a novel approach: in this study, the adaptation of an investment portfolio optimization model is demonstrated for optimization of ENM use in renewable energy technologies. Where a traditional investment portfolio optimization model maximizes return on investment through optimal selection of stock, ENM portfolio optimization maximizes the performance of energy technology systems by optimizing selective use of ENMs. Cumulative impacts of multiple ENM material portfolios are evaluated in two case studies: organic photovoltaic cells (OPVs) for renewable energy and lithium-ion batteries (LIBs) for electric vehicles. Results indicate ENM adoption is dependent on overall performance and variance of the material, resource use, environmental impact, and economic trade-offs. From a sustainability perspective, improved clean energy applications can help extend product lifespans, reduce fossil energy consumption, and substitute ENMs for scarce incumbent materials.

  8. HIV Treatment and Prevention: A Simple Model to Determine Optimal Investment.

    Science.gov (United States)

    Juusola, Jessie L; Brandeau, Margaret L

    2016-04-01

    To create a simple model to help public health decision makers determine how to best invest limited resources in HIV treatment scale-up and prevention. A linear model was developed for determining the optimal mix of investment in HIV treatment and prevention, given a fixed budget. The model incorporates estimates of secondary health benefits accruing from HIV treatment and prevention and allows for diseconomies of scale in program costs and subadditive benefits from concurrent program implementation. Data sources were published literature. The target population was individuals infected with HIV or at risk of acquiring it. Illustrative examples of interventions include preexposure prophylaxis (PrEP), community-based education (CBE), and antiretroviral therapy (ART) for men who have sex with men (MSM) in the US. Outcome measures were incremental cost, quality-adjusted life-years gained, and HIV infections averted. Base case analysis indicated that it is optimal to invest in ART before PrEP and to invest in CBE before scaling up ART. Diseconomies of scale reduced the optimal investment level. Subadditivity of benefits did not affect the optimal allocation for relatively low implementation levels. The sensitivity analysis indicated that investment in ART before PrEP was optimal in all scenarios tested. Investment in ART before CBE became optimal when CBE reduced risky behavior by 4% or less. Limitations of the study are that dynamic effects are approximated with a static model. Our model provides a simple yet accurate means of determining optimal investment in HIV prevention and treatment. For MSM in the US, HIV control funds should be prioritized on inexpensive, effective programs like CBE, then on ART scale-up, with only minimal investment in PrEP. © The Author(s) 2015.

  9. THE PARAMETER OPTIMIZATION MODEL OF INVESTMENT AND CONSTRUCTION PROJECTS AND MANAGERIAL FEASIBILITY OF THEIR BEHAVIOR

    Directory of Open Access Journals (Sweden)

    P. Ye. Uvarov

    2009-09-01

    Full Text Available In the article the basic problem of substantiation of parameters of optimization model of organizationaltechnological solutions for investment-building projects in the system of project management is considered.

  10. Liquidity, Technological Opportunities, and the Stage Distribution of Venture Capital Investments.

    Science.gov (United States)

    Lahr, Henry; Mina, Andrea

    2014-06-01

    This paper explores the determinants of the stage distribution of European venture capital investments from 1990 to 2011. Consistent with liquidity risk theory, we find that the likelihood of investing in earlier stages increases relative to all private equity investments during liquidity crisis years. While liquidity is the main driver of acquisition investments and, to some extent, of expansion financings, technological opportunities are overall the main driver of early and late stage venture capital investments. In contrast to the dotcom crash, the recent financial crisis negatively affected the relative likelihood of expansion investments, but not of early and late stage investments.

  11. Liquidity, Technological Opportunities, and the Stage Distribution of Venture Capital Investments

    Science.gov (United States)

    Lahr, Henry; Mina, Andrea

    2014-01-01

    This paper explores the determinants of the stage distribution of European venture capital investments from 1990 to 2011. Consistent with liquidity risk theory, we find that the likelihood of investing in earlier stages increases relative to all private equity investments during liquidity crisis years. While liquidity is the main driver of acquisition investments and, to some extent, of expansion financings, technological opportunities are overall the main driver of early and late stage venture capital investments. In contrast to the dotcom crash, the recent financial crisis negatively affected the relative likelihood of expansion investments, but not of early and late stage investments. PMID:26166906

  12. Delaying investments in sensor technology: The rationality of dairy farmers' investment decisions illustrated within the framework of real options theory.

    Science.gov (United States)

    Rutten, C J; Steeneveld, W; Oude Lansink, A G J M; Hogeveen, H

    2018-05-02

    The adoption rate of sensors on dairy farms varies widely. Whereas some sensors are hardly adopted, others are adopted by many farmers. A potential rational explanation for the difference in adoption may be the expected future technological progress in the sensor technology and expected future improved decision support possibilities. For some sensors not much progress can be expected because the technology has already made enormous progress in recent years, whereas for sensors that have only recently been introduced on the market, much progress can be expected. The adoption of sensors may thus be partly explained by uncertainty about the investment decision, in which uncertainty lays in the future performance of the sensors and uncertainty about whether improved informed decision support will become available. The overall aim was to offer a plausible example of why a sensor may not be adopted now. To explain this, the role of uncertainty about technological progress in the investment decision was illustrated for highly adopted sensors (automated estrus detection) and hardly adopted sensors (automated body condition score). This theoretical illustration uses the real options theory, which accounts for the role of uncertainty in the timing of investment decisions. A discrete event model, simulating a farm of 100 dairy cows, was developed to estimate the net present value (NPV) of investing now and investing in 5 yr in both sensor systems. The results show that investing now in automated estrus detection resulted in a higher NPV than investing 5 yr from now, whereas for the automated body condition score postponing the investment resulted in a higher NPV compared with investing now. These results are in line with the observation that farmers postpone investments in sensors. Also, the current high adoption of automated estrus detection sensors can be explained because the NPV of investing now is higher than the NPV of investing in 5 yr. The results confirm that

  13. Mean-variance Optimal Reinsurance-investment Strategy in Continuous Time

    Directory of Open Access Journals (Sweden)

    Daheng Peng

    2017-10-01

    Full Text Available In this paper, Lagrange method is used to solve the continuous-time mean-variance reinsurance-investment problem. Proportional reinsurance, multiple risky assets and risk-free asset are considered synthetically in the optimal strategy for insurers. By solving the backward stochastic differential equation for the Lagrange multiplier, we get the mean-variance optimal reinsurance-investment strategy and its effective frontier in explicit forms.

  14. The CEV Model and Its Application in a Study of Optimal Investment Strategy

    Directory of Open Access Journals (Sweden)

    Aiyin Wang

    2014-01-01

    Full Text Available The constant elasticity of variance (CEV model is used to describe the price of the risky asset. Maximizing the expected utility relating to the Hamilton-Jacobi-Bellman (HJB equation which describes the optimal investment strategies, we obtain a partial differential equation. Applying the Legendre transform, we transform the equation into a dual problem and obtain an approximation solution and an optimal investment strategies for the exponential utility function.

  15. Mean-variance Optimal Reinsurance-investment Strategy in Continuous Time

    OpenAIRE

    Daheng Peng; Fang Zhang

    2017-01-01

    In this paper, Lagrange method is used to solve the continuous-time mean-variance reinsurance-investment problem. Proportional reinsurance, multiple risky assets and risk-free asset are considered synthetically in the optimal strategy for insurers. By solving the backward stochastic differential equation for the Lagrange multiplier, we get the mean-variance optimal reinsurance-investment strategy and its effective frontier in explicit forms.

  16. NASA Program Office Technology Investments to Enable Future Missions

    Science.gov (United States)

    Thronson, Harley; Pham, Thai; Ganel, Opher

    2018-01-01

    The Cosmic Origins (COR) and Physics of the Cosmos (PCOS) Program Offices (POs) reside at NASA GSFC and implement priorities for the NASA HQ Astrophysics Division (APD). One major aspect of the POs’ activities is managing our Strategic Astrophysics Technology (SAT) program to mature technologies for future strategic missions. The Programs follow APD guidance on which missions are strategic, currently informed by the NRC’s 2010 Decadal Survey report, as well as APD’s Implementation Plan and the Astrophysics Roadmap.In preparation for the upcoming 2020 Decadal Survey, the APD has established Science and Technology Definition Teams (STDTs) to study four large-mission concepts: the Origins Space Telescope (née, Far-IR Surveyor), Habitable Exoplanet Imaging Mission, Large UV/Optical/IR Surveyor, and Lynx (née, X-ray Surveyor). The STDTs will develop the science case and design reference mission, assess technology development needs, and estimate the cost of their concept. A fifth team, the L3 Study Team (L3ST), was charged to study potential US contributions to ESA’s planned Laser Interferometer Space Antenna (LISA) gravitational-wave observatory.The POs use a rigorous and transparent process to solicit technology gaps from the scientific and technical communities, and prioritize those entries based on strategic alignment, expected impact, cross-cutting applicability, and urgency. For the past two years, the technology-gap assessments of the four STDTs and the L3ST are included in our process. Until a study team submits its final report, community-proposed changes to gaps submitted or adopted by a study team are forwarded to that study team for consideration.We discuss our technology development process, with strategic prioritization informing calls for SAT proposals and informing investment decisions. We also present results of the 2017 technology gap prioritization and showcase our current portfolio of technology development projects. To date, 96 COR and 86

  17. Optimal investment portfolio in renewable energy. The Spanish case

    International Nuclear Information System (INIS)

    Munoz, Jose Ignacio; Sanchez de la Nieta, Agustin A.; Contreras, Javier; Bernal-Agustin, Jose L.

    2009-01-01

    This article presents a model for investing in renewable energies in the framework of the Spanish electricity market in a way that risk is minimised for the investor while returns are maximised. The model outlined here is based on an economic model for calculating cash flows intended to obtain the internal rate of return (IRR) of the different energies being studied: wind, photovoltaic, mini hydro and thermo electrical. The IRRs obtained are considered the returns on investments, while their standard deviations are considered associated risks. In order to minimise risk, a comprehensive portfolio of investments is created that includes all of the available energies by means of a system of linear equations. The solution of the linear system is graphically checked using the efficient frontier method for the different financing options. Several case studies within the Renewable Energies Plan (PER is its Spanish abbreviation) that is in force in Spain in the period 2005-2010 are analysed in order to illustrate the method, as are other case studies using different types of financing, helping us to reach the pertinent conclusions. (author)

  18. HOSPITAL MANAGERS' NEED FOR INFORMATION ON HEALTH TECHNOLOGY INVESTMENTS.

    Science.gov (United States)

    Ølholm, Anne Mette; Kidholm, Kristian; Birk-Olsen, Mette; Christensen, Janne Buck

    2015-01-01

    There is growing interest in implementing hospital-based health technology assessment (HB-HTA) as a tool to facilitate decision making based on a systematic and multidisciplinary assessment of evidence. However, the decision-making process, including the informational needs of hospital decision makers, is not well described. The objective was to review empirical studies analysing the information that hospital decision makers need when deciding about health technology (HT) investments. A systematic review of empirical studies published in English or Danish from 2000 to 2012 was carried out. The literature was assessed by two reviewers working independently. The identified informational needs were assessed with regard to their agreement with the nine domains of EUnetHTA's Core Model. A total of 2,689 articles were identified and assessed. The review process resulted in 14 relevant studies containing 74 types of information that hospital decision makers found relevant. In addition to information covered by the Core Model, other types of information dealing with political and strategic aspects were identified. The most frequently mentioned types of information in the literature related to clinical, economic and political/strategic aspects. Legal, social, and ethical aspects were seldom considered most important. Hospital decision makers are able to describe their information needs when deciding on HT investments. The different types of information were not of equal importance to hospital decision makers, however, and full agreement between EUnetHTA's Core Model and the hospital decision-makers' informational needs was not observed. They also need information on political and strategic aspects not covered by the Core Model.

  19. Using genetic algorithms to determine near-optimal pricing, investment and operating strategies in the electric power industry

    Science.gov (United States)

    Wu, Dongjun

    Network industries have technologies characterized by a spatial hierarchy, the "network," with capital-intensive interconnections and time-dependent, capacity-limited flows of products and services through the network to customers. This dissertation studies service pricing, investment and business operating strategies for the electric power network. First-best solutions for a variety of pricing and investment problems have been studied. The evaluation of genetic algorithms (GA, which are methods based on the idea of natural evolution) as a primary means of solving complicated network problems, both w.r.t. pricing: as well as w.r.t. investment and other operating decisions, has been conducted. New constraint-handling techniques in GAs have been studied and tested. The actual application of such constraint-handling techniques in solving practical non-linear optimization problems has been tested on several complex network design problems with encouraging initial results. Genetic algorithms provide solutions that are feasible and close to optimal when the optimal solution is know; in some instances, the near-optimal solutions for small problems by the proposed GA approach can only be tested by pushing the limits of currently available non-linear optimization software. The performance is far better than several commercially available GA programs, which are generally inadequate in solving any of the problems studied in this dissertation, primarily because of their poor handling of constraints. Genetic algorithms, if carefully designed, seem very promising in solving difficult problems which are intractable by traditional analytic methods.

  20. State-of-the-art research: optimal investment in market-based electric power systems

    Energy Technology Data Exchange (ETDEWEB)

    Hope, Einar; Skjeret, Frode

    2008-04-15

    The purpose of this state-of-the-art research paper is to surveying the literature on investment in market based electric power systems as a background for identifying and discussing some important issues in the optimal design and operation of such systems. A fundamental distinction has to be made between investment in the competitive part of the power system (generation and trading) on the one hand and the natural monopoly part (network infrastructure) on the other. The paper starts with a listing and discussion on market characteristics and properties of electric power and goes on to discussing performance criteria and potential sources of market failure for optimal electric power investment. After the literature survey there is a discussion of conditions under which optimal investment may occur. (author). 78 refs., figs

  1. Investments Portfolio Optimal Planning for industrial assets management: Method and Tool

    International Nuclear Information System (INIS)

    Lonchampt, Jerome; Fessart, Karine

    2012-01-01

    The purpose of this paper is to describe the method and tool dedicated to optimize investments planning for industrial assets. These investments may either be preventive maintenance tasks, asset enhancement or logistic investment such as spare parts purchase. The three methodological points to investigate in such an issue are: 1. The measure of the profitability of a portfolio of investments 2. The selection and planning of an optimal set of investments 3. The measure of the risk of a portfolio of investments The measure of the profitability of a set of investments in the IPOP (registered) tool is synthesised in the Net Present Value indicator. The NPV is the sum of the differences of discounted cash flows (direct costs, forced outages...) between the situations with and without a given investment. These cash flows are calculated through a pseudo-markov reliability model representing independently the components of the industrial asset and the spare parts inventories. The component model has been widely discussed over the years but the spare part model is a new one based on some approximations that will be discussed. This model, referred as the NPV function, takes for input an investments portfolio and gives its NPV. The second issue is to optimize the NPV. If all investments were independent, this optimization would be an easy calculation, unfortunately there are two sources of dependency. The first one is introduced by the spare part model, as if components are indeed independent in their reliability model, the fact that several components use the same inventory induces a dependency. The second dependency comes from economic, technical or logistic constraints, such as a global maintenance budget limit or a precedence constraint between two investments, making the aggregation of individual optimum not necessary feasible. The algorithm used to solve such a difficult optimization problem is a genetic algorithm. After a description of the features of the software a

  2. The Baetylus Theorem-the central disconnect driving consumer behavior and investment returns in Wearable Technologies.

    Science.gov (United States)

    Levine, James A

    2016-08-01

    The Wearable Technology market may increase fivefold by the end of the decade. There is almost no academic investigation as to what drives the investment hypothesis in wearable technologies. This paper seeks to examine this issue from an evidence-based perspective. There is a fundamental disconnect in how consumers view wearable sensors and how companies market them; this is called The Baetylus Theorem where people believe (falsely) that by buying a wearable sensor they will receive health benefit; data suggest that this is not the case. This idea is grounded social constructs, psychological theories and marketing approaches. A marketing proposal that fails to recognize The Baetylus Theorem and how it can be integrated into a business offering has not optimized its competitive advantage. More importantly, consumers should not falsely believe that purchasing a wearable technology, improves health.

  3. The Baetylus Theorem—the central disconnect driving consumer behavior and investment returns in Wearable Technologies

    Science.gov (United States)

    Levine, James A.

    2016-01-01

    The Wearable Technology market may increase fivefold by the end of the decade. There is almost no academic investigation as to what drives the investment hypothesis in wearable technologies. This paper seeks to examine this issue from an evidence-based perspective. There is a fundamental disconnect in how consumers view wearable sensors and how companies market them; this is called The Baetylus Theorem where people believe (falsely) that by buying a wearable sensor they will receive health benefit; data suggest that this is not the case. This idea is grounded social constructs, psychological theories and marketing approaches. A marketing proposal that fails to recognize The Baetylus Theorem and how it can be integrated into a business offering has not optimized its competitive advantage. More importantly, consumers should not falsely believe that purchasing a wearable technology, improves health. PMID:27617162

  4. Optimizing an Investment Solution in Conditions of Uncertainty and Risk as a Multicriterial Task

    Directory of Open Access Journals (Sweden)

    Kotsyuba Oleksiy S.

    2017-10-01

    Full Text Available The article is concerned with the methodology for optimizing investment decisions in conditions of uncertainty and risk. The subject area of the study relates, first of all, to real investment. The problem of modeling an optimal investment solution is considered to be a multicriterial task. Also, the constructive part of the publication is based on the position that the multicriteriality of objectives of investment projecting is the result, first, of the complex nature of the category of economic attractiveness (efficiency of real investment, and secondly, of the need to take into account the risk factor, which is a vector measure, in the preparation of an investment solution. An attempt has been made to develop an instrumentarium to optimize investment decisions in a situation of uncertainty and the risk it engenders, based on the use of roll-up of the local criteria. As a result of its implementation, a model has been proposed, which has the advantage that it takes into account, to a greater extent than is the case for standardized roll-up options, the contensive and formal features of the local (detailed criteria.

  5. Investment and Usage of New Technologies : Evidence from a Shared ATM Network

    NARCIS (Netherlands)

    Ferrari, S.; Verboven, F.L.; Degryse, H.A.

    2007-01-01

    When new technologies become available, it is not only essential that firms have the correct investment incentives, but often also that consumers make the proper usage decisions. This paper studies investment and usage in a shared ATM network. Be- cause all banks coordinate their ATM investment

  6. Investment and Usage of New Technologies : Evidence from a Shared ATM Network

    NARCIS (Netherlands)

    Ferrari, S.; Verboven, F.L.; Degryse, H.A.

    2008-01-01

    When new technologies become available, it is not only essential that firms have the correct investment incentives, but often also that consumers make the proper usage decisions. This paper studies investment and usage in a shared ATM network. Be- cause all banks coordinate their ATM investment

  7. Optimal investment and scheduling of distributed energy resources with uncertainty in electric vehicles driving schedules

    Energy Technology Data Exchange (ETDEWEB)

    Cardoso, Goncalo [Technical Univ. of Lisbon (Portugal); Stadler, Michael [Lawrence Berkeley National Lab. (LBNL), Berkeley, CA (United States); Center for Energy and Innovation Technologies (Austria); Bozchalui, Mohammed C. [NEC Laboratories American Inc., Irving, TX (United States); Sharma, Ratnesh [NEC Laboratories American Inc., Irving, TX (United States); Marnay, Chris [Lawrence Berkeley National Lab. (LBNL), Berkeley, CA (United States); Barbosa-Povoa, Ana [Technical Univ. of Lisbon (Portugal); Ferrao, Paulo [Technical Univ. of Lisbon (Portugal)

    2013-12-06

    The large scale penetration of electric vehicles (EVs) will introduce technical challenges to the distribution grid, but also carries the potential for vehicle-to-grid services. Namely, if available in large enough numbers, EVs can be used as a distributed energy resource (DER) and their presence can influence optimal DER investment and scheduling decisions in microgrids. In this work, a novel EV fleet aggregator model is introduced in a stochastic formulation of DER-CAM [1], an optimization tool used to address DER investment and scheduling problems. This is used to assess the impact of EV interconnections on optimal DER solutions considering uncertainty in EV driving schedules. Optimization results indicate that EVs can have a significant impact on DER investments, particularly if considering short payback periods. Furthermore, results suggest that uncertainty in driving schedules carries little significance to total energy costs, which is corroborated by results obtained using the stochastic formulation of the problem.

  8. Optimal Portfolio of Corporate Investment and Consumption Problem under Market Closure: Inflation Case

    Directory of Open Access Journals (Sweden)

    Zongyuan Huang

    2013-01-01

    Full Text Available We present the model of corporate optimal investment with consideration of the influence of inflation and the difference between the market opening and market closure. In our model, the investor has three market activities of his or her choice: investment in project A, investment in project B, and consumption. The optimal strategy for the investor is obtained using the Hamilton-Jacobi-Bellman equation which is derived using the dynamic programming principle. Further along, a specific case, the Hyperbolic Absolute Risk Aversion case, is discussed in detail, where the explicit optimal strategy can be obtained using a very simple and direct method. At the very end, we present some simulation results along with a brief analysis of the relationship between the optimal strategy and other factors.

  9. Aircraft technology portfolio optimization using ant colony optimization

    Science.gov (United States)

    Villeneuve, Frederic J.; Mavris, Dimitri N.

    2012-11-01

    Technology portfolio selection is a combinatorial optimization problem often faced with a large number of combinations and technology incompatibilities. The main research question addressed in this article is to determine if Ant Colony Optimization (ACO) is better suited than Genetic Algorithms (GAs) and Simulated Annealing (SA) for technology portfolio optimization when incompatibility constraints between technologies are present. Convergence rate, capability to find optima, and efficiency in handling of incompatibilities are the three criteria of comparison. The application problem consists of finding the best technology portfolio from 29 aircraft technologies. The results show that ACO and GAs converge faster and find optima more easily than SA, and that ACO can optimize portfolios with technology incompatibilities without using penalty functions. This latter finding paves the way for more use of ACO when the number of constraints increases, such as in the technology and concept selection for complex engineering systems.

  10. Optimal investment and scheduling of distributed energy resources with uncertainty in electric vehicle driving schedules

    International Nuclear Information System (INIS)

    Cardoso, G.; Stadler, M.; Bozchalui, M.C.; Sharma, R.; Marnay, C.; Barbosa-Póvoa, A.; Ferrão, P.

    2014-01-01

    The large scale penetration of electric vehicles (EVs) will introduce technical challenges to the distribution grid, but also carries the potential for vehicle-to-grid services. Namely, if available in large enough numbers, EVs can be used as a distributed energy resource (DER) and their presence can influence optimal DER investment and scheduling decisions in microgrids. In this work, a novel EV fleet aggregator model is introduced in a stochastic formulation of DER-CAM [1], an optimization tool used to address DER investment and scheduling problems. This is used to assess the impact of EV interconnections on optimal DER solutions considering uncertainty in EV driving schedules. Optimization results indicate that EVs can have a significant impact on DER investments, particularly if considering short payback periods. Furthermore, results suggest that uncertainty in driving schedules carries little significance to total energy costs, which is corroborated by results obtained using the stochastic formulation of the problem. - Highlights: • This paper introduces a new EV aggregator model in the DER-CAM model and expands it with a stochastic formulation. • The model is used to analyze the impact of EVs in DER investment decisions in a large office building. • The uncertainty in EV driving patterns is considered through scenarios based on data from a daily commute driving survey. • Results indicate that EVs have a significant impact in optimal DER decisions, particularly when looking at short payback periods. • Furthermore, results indicate that uncertainty in EV driving schedules has little impact on DER investment decisions

  11. Report: EPA Needs to Improve Recording Information Technology Investments and Issue a Policy Covering All Investments

    Science.gov (United States)

    Report #15-P-0292, September 22, 2015. The EPA management of its $334 million in IT investments is noncompliant with its current policy. Thus, the EPA is at risk of not managing taxpayer dollars properly.

  12. Optimization of investment portfolio weight of stocks affected by market index

    Science.gov (United States)

    Azizah, E.; Rusyaman, E.; Supian, S.

    2017-01-01

    Stock price assessment, selection of optimum combination, and measure the risk of a portfolio investment is one important issue for investors. In this paper single index model used for the assessment of the stock price, and formulation optimization model developed using Lagrange multiplier technique to determine the proportion of assets to be invested. The level of risk is estimated by using variance. These models are used to analyse the stock price data Lippo Bank and Bumi Putera.

  13. Formation of the Optimal Investment Portfolio as a Precondition for the Bank’s Financial Security

    Directory of Open Access Journals (Sweden)

    Anna Shapovalova

    2015-01-01

    Full Text Available This article analyses the definition of the bank’s financial security and investment activities. It describes a few types of models of bank’s risks management and the method CAPM, which is chosen for use. In support for the chosen CAPM method, we included the mathematical model that allows elaborating an optimal investment portfolio. The model stands at the basis of this method and a case study of one of Ukrainian banks.

  14. Formation of the Optimal Investment Portfolio as a Precondition for the Bank’s Financial Security

    Directory of Open Access Journals (Sweden)

    Anna Shapovalova

    2016-01-01

    Full Text Available This article analyses the definition of the bank’s financial security and investment activities. It describes a few types of models of bank’s risks management and the method CAPM, which is chosen for use. In support for the chosen CAPM method, we included the mathematical model that allows elaborating an optimal investment portfolio. The model stands at the basis of this method and a case study of one of Ukrainian banks.

  15. Clean coal technology optimization model

    International Nuclear Information System (INIS)

    Laseke, B.A.; Hance, S.B.

    1992-01-01

    Title IV of the Clean Air Act Amendments (CAAA) of 1990 contains provisions for the mitigation of acid rain precipitation through reductions in the annual emission of the acid rain precursors of sulfur dioxide (SO 2 ) and nitrogen oxide (NO x ). These provisions will affect primarily existing coal-fired power-generating plants by requiring nominal reductions of 5 millon and 10 million tons of SO 2 by the years 1995 and 2000, respectively, and 2 million tons of NO x by the year 2000 relative to the 1980 and 1985-87 reference period. The 1990 CAAA Title IV provisions are extremely complex in that they establish phased regulatory milestones, unit-level emission allowances and caps, a mechanism for inter-utility trading of emission allowances, and a system of emission allowance credits based on selection of control option and timing of its implementation. The net result of Title IV of the 1990 CAAA is that approximately 147 gigawatts (GW) of generating capacity is eligible to retrofit SO 2 controls by the year 2000. A number of options are available to bring affected boilers into compliance with Title IV. Market sharewill be influenced by technology performance and costs. These characteristics can be modeled through a bottom-up technology cost and performance optimization exercise to show their impact on the technology's potential market share. Such a model exists in the form of an integrated data base-model software system. This microcomputer (PC)-based software system consists of a unit (boiler)-level data base (ACIDBASE), a cost and performance engineering model (IAPCS), and a market forecast model (ICEMAN)

  16. The economics of project analysis: Optimal investment criteria and methods of study

    Science.gov (United States)

    Scriven, M. C.

    1979-01-01

    Insight is provided toward the development of an optimal program for investment analysis of project proposals offering commercial potential and its components. This involves a critique of economic investment criteria viewed in relation to requirements of engineering economy analysis. An outline for a systems approach to project analysis is given Application of the Leontief input-output methodology to analysis of projects involving multiple processes and products is investigated. Effective application of elements of neoclassical economic theory to investment analysis of project components is demonstrated. Patterns of both static and dynamic activity levels are incorporated.

  17. Optimal Consumption and Investment under Time-Varying Relative Risk Aversion

    DEFF Research Database (Denmark)

    Steffensen, Mogens

    2011-01-01

    We consider the continuous time consumption-investment problem originally formalized and solved by Merton in case of constant relative risk aversion. We present a complete solution for the case where relative risk aversion with respect to consumption varies with time, having in mind an investor...... with age-dependent risk aversion. This provides a new motivation for life-cycle investment rules. We study the optimal consumption and investment rules, in particular in the case where the relative risk aversion with respect to consumption is increasing with age....

  18. Optimizing investments in coupled offshore wind -electrolytic hydrogen storage systems in Denmark

    DEFF Research Database (Denmark)

    Hou, Peng; Enevoldsen, Peter; Eichman, Joshua

    2017-01-01

    , electrolyzers, and hydrogen fuel cells is explored. This research reveals the investment potential of coupling offshore wind farms with different hydrogen systems. The benefits in terms of a return on investment are demonstrated with data from the Danish electricity markets. This research also investigates......In response to electricity markets with growing levels of wind energy production and varying electricity prices, this research examines incentives for investments in integrated renewable energy power systems. A strategy for using optimization methods for a power system consisting of wind turbines...

  19. Technology Spillover from Foreign Direct Investment in Turkey

    Directory of Open Access Journals (Sweden)

    Özcan Karahan

    2016-12-01

    quarterly data for the period of 2002 and 2015 in Turkey. Thus we try to examine whether technological diffusion generated by FDI inflows to Turkey enhances the innovative capability of the country or not. Design/methodology/approach – The variables Foreign Direct Investment (FDI and Gross Domestic Product (GDP are sourced from Electronic Data Delivery System (EDDS in Central Bank of the Republic of Turkey. FDI series consist of values called "Net Incurrence of Liabilities" in Balance of Payments Analytical Presentation while GDP series gather from the expenditure based GDP data in EDDS. Both Johansen Cointegration Test and Granger Causality Test are applied to examine between Foreign Direct Investment flows and economic growth in Turkey. Findings – Results reveal that there is not any significant link among the FDI and economic growth during the studied time period in Turkey. It seems that FDI inflows to Turkey is not complementary to economic growth, which shows that positive spillover effect sourced from FDI inflows to Turkey does not exist. Research limitations/implications – Policymakers should recognize that technology spillover effects of FDI do not occur without greater absorptive capacity. Attracting FDI is only one part of the story and thus not yield the desired benefits itself. Positive effects of FDI depends on the overall incentive and capacity structure of the host country. Then the key policy implication here is that policymakers should give same weight of policies aimed at attracting FDI versus those that seek to improve local economic conditions. Originality/value – This study insight the spillover effects of FDI based on Turkish experience that benefits from FDI do not occur automatically and effortlessly in developing countries.

  20. Do investment-specific technological changes matter for business fluctuations? Evidence from Japan

    OpenAIRE

    Hirose, Yasuo; Kurozumi, Takushi

    2011-01-01

    The observed decline in the relative price of investment goods to consumption goods in Japan suggests the existence of investment-specific technological (IST) changes. We examine whether IST changes are a major source of business fluctuations in Japan, by estimating a dynamic stochastic general equilibrium model with Bayesian methods. We show that IST changes are less important than neutral technological changes in explaining output fluctuations. We also demonstrate that investment fluctuatio...

  1. Optimal Investment-Consumption Strategy under Inflation in a Markovian Regime-Switching Market

    Directory of Open Access Journals (Sweden)

    Huiling Wu

    2016-01-01

    Full Text Available This paper studies an investment-consumption problem under inflation. The consumption price level, the prices of the available assets, and the coefficient of the power utility are assumed to be sensitive to the states of underlying economy modulated by a continuous-time Markovian chain. The definition of admissible strategies and the verification theory corresponding to this stochastic control problem are presented. The analytical expression of the optimal investment strategy is derived. The existence, boundedness, and feasibility of the optimal consumption are proven. Finally, we analyze in detail by mathematical and numerical analysis how the risk aversion, the correlation coefficient between the inflation and the stock price, the inflation parameters, and the coefficient of utility affect the optimal investment and consumption strategy.

  2. Optimal supply and demand investments in municipal energy systems

    International Nuclear Information System (INIS)

    Rolfsman, Bjoern

    2004-01-01

    In many municipalities, there are district heating networks, which are quite commonly supplied by combined heat and power plants (CHP). A district heating network contains buildings of different types. In this paper, one such municipal energy system is analysed. In order to provide space heating and domestic hot water, investments could be made on the supply side in power plants, or on the demand side in the buildings, for example in the form of extra wall insulation. The electricity from the CHP plants is supplied to the municipality but can also be sold to the electricity market, and electricity can, of course, also be bought from the market. The variation in price on the spot market over any given day is significant. The need for district heat in the building stock also varies, for example due to climatic conditions. The energy system in the case study is analysed with a mixed integer linear programming model. The model has 3 h time steps in order to reflect diurnal variations, and an entire year is analysed. A case study is presented for the city of Linkoeping in Sweden. On the demand side, the options are: extra wall insulation, extra attic insulation and better types of windows. The building stock is divided into nine categories

  3. Optimal Equipment Investments for Northern Plains Grain Farms

    OpenAIRE

    Terrance Jalbert; Mercedes Jalbert; James E. Briley

    2010-01-01

    This case presents a teaching tool which requires students to identify an optimal equipment plan for a northern plains small grain farm. Students are presented with information from a farm owner regarding farm size, available labor, farming techniques used and other relevant issues. Students are required to analyze this information to identify the equipment necessary to operate the farm. Students must balance equipment costs and labor issues. They must develop a plan that remains within a pre...

  4. Two-part payments for the reimbursement of investments in health technologies.

    Science.gov (United States)

    Levaggi, Rosella; Moretto, Michele; Pertile, Paolo

    2014-04-01

    The paper studies the impact of alternative reimbursement systems on two provider decisions: whether to adopt a technology whose provision requires a sunk investment cost and how many patients to treat with it. Using a simple economic model we show that the optimal pricing policy involves a two-part payment: a price equal to the marginal cost of the patient whose benefit of treatment equals the cost of provision, and a separate payment for the partial reimbursement of capital costs. Departures from this scheme, which are frequent in DRG tariff systems designed around the world, lead to a trade-off between the objective of making effective technologies available to patients and the need to ensure appropriateness in use. Copyright © 2013 Elsevier Ireland Ltd. All rights reserved.

  5. Mode of foreign entry, technology transfer, and foreign direct investment policy

    OpenAIRE

    Mattoo, Aaditya; Olarreaga, Marcelo; Saggi, Kamal

    2001-01-01

    Foreign direct investment can take place through the direct entry of foreign firms or the acquisition of existing domestic firms. Mattoo, Olarreaga, and Saggi examine the preferences of a foreign firm and the host country government with respect to these two modes of foreign direct investment in the presence of costly technology transfer. The tradeoff between technology transfer and market...

  6. Towards resiliency with micro-grids: Portfolio optimization and investment under uncertainty

    Science.gov (United States)

    Gharieh, Kaveh

    Energy security and sustained supply of power are critical for community welfare and economic growth. In the face of the increased frequency and intensity of extreme weather conditions which can result in power grid outage, the value of micro-grids to improve the communities' power reliability and resiliency is becoming more important. Micro-grids capability to operate in islanded mode in stressed-out conditions, dramatically decreases the economic loss of critical infrastructure in power shortage occasions. More wide-spread participation of micro-grids in the wholesale energy market in near future, makes the development of new investment models necessary. However, market and price risks in short term and long term along with risk factors' impacts shall be taken into consideration in development of new investment models. This work proposes a set of models and tools to address different problems associated with micro-grid assets including optimal portfolio selection, investment and financing in both community and a sample critical infrastructure (i.e. wastewater treatment plant) levels. The models account for short-term operational volatilities and long-term market uncertainties. A number of analytical methodologies and financial concepts have been adopted to develop the aforementioned models as follows. (1) Capital budgeting planning and portfolio optimization models with Monte Carlo stochastic scenario generation are applied to derive the optimal investment decision for a portfolio of micro-grid assets considering risk factors and multiple sources of uncertainties. (2) Real Option theory, Monte Carlo simulation and stochastic optimization techniques are applied to obtain optimal modularized investment decisions for hydrogen tri-generation systems in wastewater treatment facilities, considering multiple sources of uncertainty. (3) Public Private Partnership (PPP) financing concept coupled with investment horizon approach are applied to estimate public and private

  7. 2016 Decadal Update of the NASA ESTO Lidar Technologies Investment Strategy

    Science.gov (United States)

    Valinia, Azita; Tratt, David M.; Lotshaw, William T.; Gaab, Kevin M.; Komar, George J.; Rioux, Norman M.; Perez, Mario R.; Smith, Erin C.

    2016-01-01

    We describe the 2016 update of the NASA Earth Science Technology Office (ESTO) investment strategy in the area of lidar technologies as pertaining to NASAs Earth Science measurement goals in the next decade.

  8. Barriers to investments in energy saving technologies. Case study for the industry

    NARCIS (Netherlands)

    Masselink, Dirk Jan

    2007-01-01

    To realise future energy saving targets, the government needs to increase energy reduction rates. One option to increase energy savings is found in removing barriers to investments in cost-effective energy saving technologies. Many technologies save energ

  9. Heat savings and heat generation technologies: Modelling of residential investment behaviour with local health costs

    DEFF Research Database (Denmark)

    Zvingilaite, Erika; Klinge Jacobsen, Henrik

    2015-01-01

    The trade-off between investing in energy savings and investing in individual heating technologies with high investment and low variable costs in single family houses is modelled for a number of building and consumer categories in Denmark. For each group the private economic cost of providing hea...... for private consumers decrease by 66% when all have the option to shift to the technology with lowest variable costs. © 2014 Elsevier Ltd. All Rights reserved......The trade-off between investing in energy savings and investing in individual heating technologies with high investment and low variable costs in single family houses is modelled for a number of building and consumer categories in Denmark. For each group the private economic cost of providing...

  10. Future carbon regulations and current investments in alternative coal-fired power plant technologies

    International Nuclear Information System (INIS)

    Sekar, Ram C.; Parsons, John E.; Herzog, Howard J.; Jacoby, Henry D.

    2007-01-01

    We analyze how uncertain future US carbon regulations shape the current choice of the type of power plant to build. Our focus is on two coal-fired technologies, pulverized coal (PC) and integrated coal gasification combined cycle technology (IGCC). The PC technology is cheapest-assuming there is no need to control carbon emissions. The IGCC technology may be cheaper if carbon must be captured. Since power plants last many years and future regulations are uncertain, a US electric utility faces a standard decision under uncertainty. A company will confront the range of possible outcomes, assigning its best estimate of the probability of each scenario, averaging the results and determining the power plant technology with the lowest possible cost inclusive of expected future carbon related costs, whether those costs be in the form of emissions charges paid or capital expenditures for retrofitting to capture carbon. If the company assigns high probability to no regulation or to less stringent regulation of carbon, then it makes sense for it to build the PC plant. But if it assigns sufficient probability to scenarios with more stringent regulation, then the IGCC technology is warranted. We provide some useful benchmarks for possible future regulation and show how these relate back to the relative costs of the two technologies and the optimal technology choice. Few of the policy proposals widely referenced in the public discussion warrant the choice of the IGCC technology. Instead, the PC technology remains the least costly. However, recent carbon prices in the European Emissions Trading System are higher than these benchmarks. If it is any guide to possible future penalties for emissions in the US, then current investment in the IGCC technology is warranted. Of course, other factors need to be factored into the decision as well

  11. An energy pricing scheme for the diffusion of decentralized renewable technology investment in developing countries

    International Nuclear Information System (INIS)

    Thiam, Djiby Racine

    2011-01-01

    The purpose of this paper is to investigate price support for market penetration of renewable energy in developing nations through a decentralized supply process. We integrate the new decentralized energy support: renewable premium tariff, to analyze impacts of tariff incentives on the diffusion of renewable technology in Senegal. Based on photovoltaic and wind technologies and an assessment of renewable energy resources in Senegal, an optimization technique is combined with a cash flow analysis to investigate investment decisions in renewable energy sector. Our findings indicate that this support mechanism could strengthen the sustainable deployment of renewable energy in remote areas of Senegal. Although different payoffs emerged, profits associated with a renewable premium tariff are the highest among the set of existing payoffs. Moreover in analyzing impacts of price incentives on social welfare, we show that price tariffing schemes must be strategically scrutinized in order to minimize welfare loss associated with price incentives. Finally we argue that a sustainable promotion of incentive mechanisms supporting deployment of renewable technology in developing nations should be carried out under reliable institutional structures. The additional advantage of the proposed methodology is its ability to integrate different stakeholders (producers, investors and consumers) in the planning process. - Highlights: → We simulate impacts of price support for market penetration of renewable technology in developing nations. → An array of price incentive mechanisms strengthens diffusion of renewable technology in Senegal. → Moreover, reliable institutional frameworks in developing nations are a requirement in order to strengthen diffusion path of renewable technologies.

  12. Electricity pricing: optimal operation and investment by industrial consumers

    Energy Technology Data Exchange (ETDEWEB)

    Outhred, H.R.; Kaye, R.J.; Sutanto, D.; Manimaran, R.; Bannister, C.H.; Lee, Y.B.

    1988-08-01

    Ongoing research in the areas of economically efficient electricity pricing and industrial consumer response is described. A new electricity pricing theory is described that incorporates future uncertainty and intertemporal linkages between decisions. It indicates that electricity prices should contain two terms - short-run marginal cost plus a term that reflects how each particular decision is likely to affect future global welfare. A practical implementation using spot prices and forward contracts plus financial instruments for risk sharing and decision coordination is explored, and a procedure for developing long-term pricing policy is considered. The operation of industrial plant has been investigated and models developed to optimize plant behaviour in response to spot prices and forward contracts for electricity. These models are described and results of simulation studies discussed. The economic efficiency and risk sharing advantages of this advanced tariff structure compared with a conventional time-of-use tariff are illustrated.

  13. Unintended possible consequences of fuel input taxes for individual investments in greenhouse gas mitigation technologies and the resulting emissions

    Directory of Open Access Journals (Sweden)

    Heinz E. Klingelhöfer

    2017-03-01

    Full Text Available Background: South Africa is planning to introduce a carbon tax as a Pigouvian measure for the reduction of greenhouse gas emissions, one of the tax bases designed as a fuel input tax. In this form, it is supposed to incentivise users to reduce and/or substitute fossil fuels, leading to a reduction of CO2 emissions. Aim: This article examines how such a carbon tax regime may affect the individual willingness to invest in greenhouse gas mitigation technologies. Setting: Mathematical derivation, using methods of linear programming, duality theory and sensitivity analysis. Methods: By employing a two-step evaluation approach, it allows to identify the factors determining the maximum price an individual investor would pay for such an investment, given the conditions of imperfect markets. Results: This price ceiling depends on the (corrected net present values of the payments and on the interdependencies arising from changes in the optimal investment and production programmes. Although the well-established results of environmental economics usually can be confirmed for a single investment, increasing carbon taxes may entail sometimes contradictory and unexpected consequences for individual investments in greenhouse gas mitigation technologies and the resulting emissions. Under certain circumstances, they may discourage such investments and, when still undertaken, even lead to higher emissions. However, these results can be interpreted in an economically comprehensible manner. Conclusion: Under the usually given conditions of imperfect markets, the impact of a carbon tax regime on individual investment decisions to mitigate greenhouse gas emissions is not as straight forward as under the usually assumed, but unrealistically simplifying perfect market conditions. To avoid undesired and discouraging effects, policy makers cannot make solitary decisions, but have to take interdependencies on the addressee´s side into account. The individual investor

  14. Maximizing Your Investment in Building Automation System Technology.

    Science.gov (United States)

    Darnell, Charles

    2001-01-01

    Discusses how organizational issues and system standardization can be important factors that determine an institution's ability to fully exploit contemporary building automation systems (BAS). Further presented is management strategy for maximizing BAS investments. (GR)

  15. An Optimal Investment Strategy and Multiperiod Deposit Insurance Pricing Model for Commercial Banks

    Directory of Open Access Journals (Sweden)

    Grant E. Muller

    2018-01-01

    Full Text Available We employ the method of stochastic optimal control to derive the optimal investment strategy for maximizing an expected exponential utility of a commercial bank’s capital at some future date T>0. In addition, we derive a multiperiod deposit insurance (DI pricing model that incorporates the explicit solution of the optimal control problem and an asset value reset rule comparable to the typical practice of insolvency resolution by insuring agencies. By way of numerical simulations, we study the effects of changes in the DI coverage horizon, the risk associated with the asset portfolio of the bank, and the bank’s initial leverage level (deposit-to-asset ratio on the DI premium while the optimal investment strategy is followed.

  16. Optimal Investment and Reinsurance for Insurers with Uncertain Time-Horizon

    Directory of Open Access Journals (Sweden)

    Ailing Gu

    2014-01-01

    state hits the barrier. The objective of the insurer is to maximize the expected discounted exponential utility of her terminal wealth. By dynamic programming approach and Feynman-Kac representation theorem, we derive the expressions for optimal value functions and optimal investment-reinsurance strategies in two special cases. Furthermore, an example is considered under the diffusion-approximation model, which shows some interesting results.

  17. Research on the robust optimization of the enterprise's decision on the investment to the collaborative innovation: Under the risk constraints

    International Nuclear Information System (INIS)

    Zhou, Qing; Fang, Gang; Wang, Dong-peng; Yang, Wei

    2016-01-01

    Abstracts: The robust optimization model is applied to analyze the enterprise's decision of the investment portfolio for the collaborative innovation under the risk constraints. Through the mathematical model deduction and the simulation analysis, the research result shows that the enterprise's investment to the collaborative innovation has relatively obvious robust effect. As for the collaborative innovation, the return from the investment coexists with the risk of it. Under the risk constraints, the robust optimization method could solve the minimum risk as well as the proportion of each investment scheme in the portfolio on the condition of different target returns from the investment. On the basis of the result, the enterprise could balance between the investment return and risk and make optimal decision on the investment scheme.

  18. The costs of electricity systems with a high share of fluctutating renewables. A stochastic investment and dispatch optimization model for Europe

    International Nuclear Information System (INIS)

    Nagl, Stephan; Fuersch, Michaela; Lindenberger, Dietmar

    2012-01-01

    Renewable energies are meant to produce a large share of the future electricity demand. However, the availability of wind and solar power depends on local weather conditions and therefore weather characteristics must be considered when optimizing the future electricity mix. In this article we analyze the impact of the stochastic availability of wind and solar energy on the cost-minimal power plant mix and the related total system costs. To determine optimal conventional, renewable and storage capacities for different shares of renewables, we apply a stochastic investment and dispatch optimization model to the European electricity market. The model considers stochastic feed-in structures and full load hours of wind and solar technologies and different correlations between regions and technologies. Key findings include the overestimation of fluctuating renewables and underestimation of total system costs compared to deterministic investment and dispatch models. Furthermore, solar technologies are - relative to wind turbines - underestimated when neglecting negative correlations between wind speeds and solar radiation.

  19. Worst-Case Investment and Reinsurance Optimization for an Insurer under Model Uncertainty

    Directory of Open Access Journals (Sweden)

    Xiangbo Meng

    2016-01-01

    Full Text Available In this paper, we study optimal investment-reinsurance strategies for an insurer who faces model uncertainty. The insurer is allowed to acquire new business and invest into a financial market which consists of one risk-free asset and one risky asset whose price process is modeled by a Geometric Brownian motion. Minimizing the expected quadratic distance of the terminal wealth to a given benchmark under the “worst-case” scenario, we obtain the closed-form expressions of optimal strategies and the corresponding value function by solving the Hamilton-Jacobi-Bellman (HJB equation. Numerical examples are presented to show the impact of model parameters on the optimal strategies.

  20. Mean-variance portfolio analysis data for optimizing community-based photovoltaic investment

    Directory of Open Access Journals (Sweden)

    Mahmoud Shakouri

    2016-03-01

    Full Text Available The amount of electricity generated by Photovoltaic (PV systems is affected by factors such as shading, building orientation and roof slope. To increase electricity generation and reduce volatility in generation of PV systems, a portfolio of PV systems can be made which takes advantages of the potential synergy among neighboring buildings. This paper contains data supporting the research article entitled: PACPIM: new decision-support model of optimized portfolio analysis for community-based photovoltaic investment [1]. We present a set of data relating to physical properties of 24 houses in Oregon, USA, along with simulated hourly electricity data for the installed PV systems. The developed Matlab code to construct optimized portfolios is also provided in Supplementary materials. The application of these files can be generalized to variety of communities interested in investing on PV systems. Keywords: Community solar, Photovoltaic system, Portfolio theory, Energy optimization, Electricity volatility

  1. 32 CFR 37.110 - What type of instruments are technology investment agreements (TIAs)?

    Science.gov (United States)

    2010-07-01

    ... investment agreements (TIAs)? 37.110 Section 37.110 National Defense Department of Defense OFFICE OF THE... What type of instruments are technology investment agreements (TIAs)? TIAs are assistance instruments used to stimulate or support research. As discussed in appendix B to this part, a TIA may be either a...

  2. Optimal capital accumulation and the allocation of investment between traded and nontraded sectors in oil-producing countries.

    NARCIS (Netherlands)

    van Wijnbergen, S.J.G.

    1985-01-01

    A paper on the optimal capital accumulation and allocation of investment in oil exporting countries. Investigates the basis of consumption and investment levels on optimizing forward-looking behavior, the role of physical capital in the production, the impact of the decline in oil revenues on the

  3. Research on optimal investment path of transmission corridor under the global energy Internet

    Science.gov (United States)

    Huang, Yuehui; Li, Pai; Wang, Qi; Liu, Jichun; Gao, Han

    2018-02-01

    Under the background of the global energy Internet, the investment planning of transmission corridor from XinJiang to Germany is studied in this article, which passes through four countries: Kazakhstan, Russia, Belarus and Poland. Taking the specific situation of different countries into account, including the length of transmission line, unit construction cost, completion time, transmission price, state tariff, inflation rate and so on, this paper constructed a power transmission investment model. Finally, the dynamic programming method is used to simulate the example, and the optimal strategies under different objective functions are obtained.

  4. Optimal Reinsurance-Investment Problem for an Insurer and a Reinsurer with Jump-Diffusion Process

    Directory of Open Access Journals (Sweden)

    Hanlei Hu

    2018-01-01

    Full Text Available The optimal reinsurance-investment strategies considering the interests of both the insurer and reinsurer are investigated. The surplus process is assumed to follow a jump-diffusion process and the insurer is permitted to purchase proportional reinsurance from the reinsurer. Applying dynamic programming approach and dual theory, the corresponding Hamilton-Jacobi-Bellman equations are derived and the optimal strategies for exponential utility function are obtained. In addition, several sensitivity analyses and numerical illustrations in the case with exponential claiming distributions are presented to analyze the effects of parameters about the optimal strategies.

  5. Influence of elements of “technological revolution” on efficiency of the investment and construction sphere

    Directory of Open Access Journals (Sweden)

    Murashova Olga

    2017-01-01

    Full Text Available The article describes a new view on the investment and construction area taking into consideration the influence of information technologies and innovations. The author has pointed out the basic aspects, which could allow making a break-through in management effectiveness, if being implemented in companies’ business or in investment and construction projects. The article presents the definition of the investment and construction cycle as an integrator of innovation solutions. The paper contains the conclusion about the obvious sector development using active implementation of information modeling of the investment and construction project facilities.

  6. Optimizing investments in coupled offshore wind -electrolytic hydrogen storage systems in Denmark

    Science.gov (United States)

    Hou, Peng; Enevoldsen, Peter; Eichman, Joshua; Hu, Weihao; Jacobson, Mark Z.; Chen, Zhe

    2017-08-01

    In response to electricity markets with growing levels of wind energy production and varying electricity prices, this research examines incentives for investments in integrated renewable energy power systems. A strategy for using optimization methods for a power system consisting of wind turbines, electrolyzers, and hydrogen fuel cells is explored. This research reveals the investment potential of coupling offshore wind farms with different hydrogen systems. The benefits in terms of a return on investment are demonstrated with data from the Danish electricity markets. This research also investigates the tradeoffs between selling the hydrogen directly to customers or using it as a storage medium to re-generate electricity at a time when it is more valuable. This research finds that the most beneficial configuration is to produce hydrogen at a time that complements the wind farm and sell the hydrogen directly to end users.

  7. Analysis on Dynamic Decision-Making Model of the Enterprise Technological Innovation Investment under Uncertain Environment

    Directory of Open Access Journals (Sweden)

    Yong Long

    2012-01-01

    Full Text Available Under the environment of fuzzy factors including the return of market, performance of product, and the demanding level of market, we use the method of dynamic programming and establish the model of investment decision, in technology innovation project of enterprise, based on the dynamic programming. Analysis of the influence caused by the changes of fuzzy uncertainty factors to technological innovation project investment of enterprise.

  8. Power sector investment risk and renewable energy: A Japanese case study using portfolio risk optimization method

    International Nuclear Information System (INIS)

    Bhattacharya, Anindya; Kojima, Satoshi

    2012-01-01

    The conventional pricing mechanism used for electricity systematically hides huge investment risks which are embedded in the overall cost of production. Although consumers are often unaware of these risks, they present a large financial burden on the economy. This study applies the portfolio optimization concepts from the field of finance to demonstrate the scope of greater utilization of renewable energies (RE) while reducing the embedded investment risk in the conventional electricity sector and its related financial burden. This study demonstrates that RE investment can compensate for the risks associated with the total input costs; such costs being external volatilities of fossil fuel prices, capital costs, operating and maintenance costs and the carbon costs. By means of example, this case study shows that Japan could in theory obtain up to 9% of its electricity supply from green sources, as compared to the present 1.37%, based on the utilization of a portfolio risk-analysis evaluation. Explicit comparison of the monetary values of the investment risks of conventional and renewable energy sources shows that renewable energies have high market competitiveness. The study concludes with a recommendation that, as a business objective, investors would benefit by focusing on electricity supply portfolio risk minimization instead of cost. This could also inherently increase the supply of renewable energy in the market. - Research highlights: ►Energy sector investors should not be bothered only about the absolute cost figures of the input factors like fossil fuels but should also be careful about the fluctuation of their costs while making the investment decisions. ►Inclusion of renewable energy in the investment portfolio can increase the cost apparently but can reduce the risk hedging costs, too. ►International carbon price may not be a good factor to encourage renewable energy investment in the market.

  9. PRODUCTIVITY AND LAND ENHANCING TECHNOLOGIES IN NORTHERN ETHIOPIA: HEALTH, PUBLIC INVESTMENTS, AND SEQUENTIAL ADOPTION

    OpenAIRE

    Ersado, Lire; Amacher, Gregory S.; Alwang, Jeffrey Roger

    2003-01-01

    The adoption of more efficient farming practices and technologies that enhance agricultural productivity and improve environmental sustainability is instrumental for achieving economic growth, food security and poverty alleviation in sub-Saharan Africa. Our research examines the interaction between public investments, community health, and adoption of productivity and land enhancing technologies by households in the northern Ethiopian state of Tigray. Agricultural technology adoption decision...

  10. Initial investment to 3D printing technologies in a construction company

    OpenAIRE

    Cernohorsky, Zdenek; Matejka, Petr

    2017-01-01

    This article deals with an initial investment to 3D printing technologies in a construction company. The investment refers to the use of building information models and their integration with 3D printing technology within a construction company. In the first part, there will be discussed an introduction of 3D printing scheme in a construction company from a lifecycle perspective in general. As a part of this scheme, the ideal variant of an initial investment will be considered a.k.a a pilot p...

  11. Mean-variance portfolio analysis data for optimizing community-based photovoltaic investment.

    Science.gov (United States)

    Shakouri, Mahmoud; Lee, Hyun Woo

    2016-03-01

    The amount of electricity generated by Photovoltaic (PV) systems is affected by factors such as shading, building orientation and roof slope. To increase electricity generation and reduce volatility in generation of PV systems, a portfolio of PV systems can be made which takes advantages of the potential synergy among neighboring buildings. This paper contains data supporting the research article entitled: PACPIM: new decision-support model of optimized portfolio analysis for community-based photovoltaic investment [1]. We present a set of data relating to physical properties of 24 houses in Oregon, USA, along with simulated hourly electricity data for the installed PV systems. The developed Matlab code to construct optimized portfolios is also provided in . The application of these files can be generalized to variety of communities interested in investing on PV systems.

  12. Applying the Theory of the Firm to Examine a Technology Startup at the Investment Stage

    Directory of Open Access Journals (Sweden)

    Michael Ayukawa

    2012-05-01

    Full Text Available The investment stage of a new technology firm is when resources, opportunities, investors, and early customers first converge. Currently, technology entrepreneurs make many expensive mistakes. They invest in assets and develop capabilities that prove to have limited value. They take too long to discover and validate the product-market fit for their firms during the investment stage and run out of time and money. Understanding how theory can help entrepreneurs make decisions during the investment stage is important to accelerate new-firm formation and growth as well as to reduce the uncertainty of founders and stakeholders of technology firms. This article introduces a model developed to examine deal making during the investment stage of a new technology firm. It is an extension of a model of lateral firm scope proposed by Oliver Hart and Bengt Holmstrom. The extensions come from considering a technology firm as being both a deal-making entity and a pool of resources during the investment stage. A deal is the result of a decision the entrepreneur and others make to coordinate (i.e., work together to achieve a common objective. Benefits from a deal include cash profits for the firm and private benefits for the entrepreneur. This extended model is then applied to examine the author’s firm which is still in the investment stage. Application of the extended model to a real-life situation generated two important insights: i when private benefits include learning from experimentation, the number of deals increases and ii at the start of the investment stage, private benefits drive deal-making, whereas at the end of the investment stage, cash profits derived from asset ownership drive deal-making.

  13. H–J–B Equations of Optimal Consumption-Investment and Verification Theorems

    Energy Technology Data Exchange (ETDEWEB)

    Nagai, Hideo, E-mail: nagaih@kansai-u.ac.jp [Kansai University, Department of Mathematics, Faculty of Engineering Science (Japan)

    2015-04-15

    We consider a consumption-investment problem on infinite time horizon maximizing discounted expected HARA utility for a general incomplete market model. Based on dynamic programming approach we derive the relevant H–J–B equation and study the existence and uniqueness of the solution to the nonlinear partial differential equation. By using the smooth solution we construct the optimal consumption rate and portfolio strategy and then prove the verification theorems under certain general settings.

  14. Optimal investment decisions with a liability: the case of defined benefit pension plans

    OpenAIRE

    Josa-Fombellida, Ricardo; Rincón-Zapatero, Juan Pablo

    2006-01-01

    In this paper the optimal management of an aggregated dynamic pension fund is studied. To cover the promised liabilities to workers at the age of retirement, the plan sponsor continuously manages time-varying funds. He or she can choose the rate of contribution to the fund, the investment in a given number of risky assets, and a security with constant rate of return. The problem of maximizing the probability that the fund assets achieve some prescribed goal before some undesirable lower value...

  15. Investments in the LNG Value Chain: A Multistage Stochastic Optimization Model focusing on Floating Liquefaction Units

    OpenAIRE

    Røstad, Lars Dybsjord; Erichsen, Jeanette Christine

    2012-01-01

    In this thesis, we have developed a strategic optimization model of investments in infrastructure in the LNG value chain. The focus is on floating LNG production units: when they are a viable solution and what value they add to the LNG value chain. First a deterministic model is presented with focus on describing the value chain, before it is expanded to a multistage stochastic model with uncertain field sizes and gas prices. The objective is to maximize expected discounted profits through op...

  16. Trade, Foreign Direct Investment or Acquisition: Optimal Entry Modes for Multinationals

    OpenAIRE

    Theo Eicher; Jong Woo Kang

    2004-01-01

    We examine multinationals’ optimal entry modes into foreign markets as a function of market size, FDI fixed costs, tariffs and transport costs. Our results highlight why large countries are more likely to attract acquisition investment, while intermediate-sized countries may be served predominantly through trade, even in the presence of high tariffs. Small countries are most likely to experience either FDI or no entry. We also show how these results vary with the competition intensity in th...

  17. H–J–B Equations of Optimal Consumption-Investment and Verification Theorems

    International Nuclear Information System (INIS)

    Nagai, Hideo

    2015-01-01

    We consider a consumption-investment problem on infinite time horizon maximizing discounted expected HARA utility for a general incomplete market model. Based on dynamic programming approach we derive the relevant H–J–B equation and study the existence and uniqueness of the solution to the nonlinear partial differential equation. By using the smooth solution we construct the optimal consumption rate and portfolio strategy and then prove the verification theorems under certain general settings

  18. Optimizing equine assisted reproductive technologies

    NARCIS (Netherlands)

    Onstein, W.K.

    2018-01-01

    Application of assisted reproductive technologies (ARTs) is more common in the horse breeding industries, but there is still room for improvement. Embryo recovery rate after embryo flushing, embryo production rate after ovum pick-up (OPU) and intracytoplasmic sperm injection (ICSI), cryopreservation

  19. Investing Wisely in Information Technology: Asking the Right Questions.

    Science.gov (United States)

    Breivik, Patricia Senn

    1993-01-01

    College administrators are offered a series of questions to ask in evaluating the appropriateness of information technology for their campuses. Issues addressed include defining institutional goals and the role of information technology in them, determining the most effective organization of information resources and technology, and allocation of…

  20. A boom in energy technology innovation despite decades of stagnant investment

    Energy Technology Data Exchange (ETDEWEB)

    Bettencourt, Luis M [Los Alamos National Laboratory; Trancik, Jessika A [SANTA FE INSTITUTE; Kaur, Jasleen [INDIANA UNIV

    2009-01-01

    Rates of patenting in energy technologies in the United States stagnated during a period of low federal investment in the sector from the mid-1980's through 2000. To analyze the current state of the field, we built a new comprehensive database of energy patents in the USA and worldwide aggregated by nation and technology. We show that innovation in energy technologies, as measured by numbers of new patents, has grown dramatically over the last decade both for renewable and fossil fuel-based technologies, but that traditional investment -government and private support for research and development (R&D) -has not risen commensurately. We also show that while venture capital investment in the sector has increased significantly in the last few years it lags the observed uptick in patenting. We find increasing patenting rates in nations worldwide but also differences in regional priorities, as well as a marked divergence in innovation rates across technologies. Renewable energy technologies - especially solar and wind - currently show the fastest rates of innovation, while patenting levels in nuclear fission have remained low despite relatively high levels of sustained investment. While this sharp increase of innovative activity bodes well for change in the energy sector, the future of emerging technologies may hinge on sustained investment in R&D and favorable incentives for market entry.

  1. Technology transfers, foreign investment and productivity spillovers: evidence from Vietnam

    DEFF Research Database (Denmark)

    Newman, Carol; Rand, John; Talbot, Theodore Purdendu

    FDI through vertical linkages along the supply chain. Our results suggest that domestic firms experience more productivity spillovers through forward linkages from foreign-input suppliers to domestic input users than through backward linkages from foreign customers to domestic producers of inputs......This paper provides new evidence on the relationship between foreign direct investment (FDI) and the productivity of domestic firms. Using a specially designed survey on a sample of over 7,500 manufacturing firms in Vietnam we uncover some of the mechanisms that explain productivity spillovers from...

  2. Evaluation on Optimal Scale of Rural Fixed-asset Investment-Based on Microcosmic Perspective of Farmers’ Income Increase

    Institute of Scientific and Technical Information of China (English)

    Jinqian; DENG; Kangkang; SHAN; Yan; ZHANG

    2014-01-01

    The rural fundamental and productive fixed-asset investment not only makes active influence on the changes of farmers’ operational,wages and property income,but it also has an optimal scale range for farmers’ income increase. From the perspective of farmers’ income increase,this article evaluates the optimal scale of rural fixed-asset investment by setting up model with statistic data,and the results show that the optimal scale of per capita rural fixed-asset investment is 76. 35% of per capita net income of rural residents,which has been reached in China in 2009. Therefore,compared with the adding of rural fixed-asset investment,a better income increase effect can be achieved through the adjustment of rural fixed-asset investment structure.

  3. Evaluation of Representative Smart Grid Investment Grant Project Technologies: Thermal Energy Storage

    Energy Technology Data Exchange (ETDEWEB)

    Tuffner, Francis K.; Bonebrake, Christopher A.

    2012-02-14

    This document is one of a series of reports estimating the benefits of deploying technologies similar to those implemented on the Smart Grid Investment Grant (SGIG) projects. Four technical reports cover the various types of technologies deployed in the SGIG projects, distribution automation, demand response, energy storage, and renewables integration. A fifth report in the series examines the benefits of deploying these technologies on a national level. This technical report examines the impacts of energy storage technologies deployed in the SGIG projects.

  4. Developing a Strategic Plan for NASA JSC's Technology Investments

    Science.gov (United States)

    Stecklein, Jonette M.

    2012-01-01

    Human space exploration has always been heavily influenced by goals to achieve a specific mission on a specific schedule. This approach drove rapid technology development, the rapidity of which adds risks as well as provides a major driver for costs. The National Aeronautics and Space Administration (NASA) is now approaching the extension of human presence throughout the solar system by balancing a proactive yet less schedule-driven development of technology with opportunistic scheduling of missions as the needed technologies are realized. This approach should provide cost effective, low risk technology development that will enable efficient and effective manned spaceflight missions. As a first step, the NASA Human Spaceflight Architecture Team (HAT) has identified a suite of critical technologies needed to support future manned missions across a range of destinations, including in cislunar space, near earth asteroid visits, lunar exploration, Mars space, and Mars exploration. The challenge now is to develop a strategy and plan for technology development that efficiently enables these missions over a reasonable time period, without increasing technology development costs unnecessarily due to schedule pressure, and subsequently mitigating development and mission risks. NASA fs Johnson Space Center (JSC), as the nation's primary center for human exploration, is addressing this challenge through an innovative approach allocating Internal Research and Development funding to projects that have been prioritized using four focus criteria, with appropriate importance weighting. These four focus criteria are the Human Space Flight Technology Needs, JSC Core Technology Competencies, Commercialization Potential, and Partnership Potential. The inherent coupling in these focus criteria have been captured in a database and have provided an initial prioritization for allocation of technology development research funding. This paper will describe this process and this database

  5. Return on Knowledge Assets: Rethinking Investments in Educational Technology.

    Science.gov (United States)

    Watkins, Karen E.; Callahan, Mary Wilson

    1998-01-01

    Presents various ways of understanding knowledge and intellectual capital and the assets they produce. Considers implications of assessing the return on educational technologies as organizational knowledge assets. Presents a case study to illustrate how an educational technology application might help capture the benefits of knowledge capital.…

  6. Initial investment to 3D printing technologies in a construction company

    Directory of Open Access Journals (Sweden)

    Cernohorsky, Zdenek

    2017-06-01

    Full Text Available This article deals with an initial investment to 3D printing technologies in a construction company. The investment refers to the use of building information models and their integration with 3D printing technology within a construction company. In the first part, there will be discussed an introduction of 3D printing scheme in a construction company from a lifecycle perspective in general. As a part of this scheme, the ideal variant of an initial investment will be considered a.k.a a pilot project. In the second part, there will be a more detailed discussion of the pilot project, more about each activities which should be its parts and which should analyze cost categories. These categories will be about particular lifecycle stages of the pilot project. In the third part, a summary is done. This article could be a handout for a construction company in a term of an initial investment to 3D printing.

  7. Promoting Sustainability through Investment in Building Information Modeling (BIM Technologies: A Design Company Perspective

    Directory of Open Access Journals (Sweden)

    Marius Reizgevičius

    2018-02-01

    Full Text Available The aim of this article is to enhance the understanding of how design companies perceive the benefits of Building Information Modeling (BIM technologies application. BIM is recognized in the literature as a (potentially powerful driver leading the construction sector towards sustainability. However, for design companies, the choice to invest in BIM technologies is basically an economic one. Specifically, a design company assesses economic benefits and efficiency improvements thanks to the application of BIM technologies. The article discusses the return on investments (ROI in BIM technologies and reviews ROI calculation methodologies proposed by other authors. In order to evaluate BIM return on investment correctly practical ROI calculations are carried out. Appropriate methods, together with the relevant variables for ROI calculation, are developed. The study allows for adjusting the calculation method making it more accurate and understandable using the Autodesk Revit based ROI calculation of the first year.

  8. Returns on investments in energy-saving technologies under energy price uncertainty in Dutch greenhouse horticulture

    NARCIS (Netherlands)

    Diederen, P.J.M.; Tongeren, van F.W.; Veen, van der H.B.

    2003-01-01

    Conventional net present value calculations evaluating the profitability of investments in energy-saving technologies in Dutch horticultural outlays predict a much higher rate of adoption of these technologies than is actually observed. This paper tries to explain this gap by applying a real options

  9. Energy Technology Investments: Maximizing Efficiency Through a Maritime Energy Portfolio Interface and Decision Aid

    Science.gov (United States)

    2012-02-09

    Investment (ROI) and Break Even Point ( BEP ). These metrics are essential for determining whether an initiative would be worth pursuing. Balanced...is Unlimited Energy Decision Framework Identify Inefficiencies 2. Perform Analyses 3. Examine Technology Candidates 1. Improve Energy...Unlimited Energy Decision Framework Identify Inefficiencies 2. Perform Analyses 3. Examine Technology Candidates 1. Improve Energy Efficiency 4

  10. Assessing the economic value of co-optimized grid-scale energy storage investments in supporting high renewable portfolio standards

    International Nuclear Information System (INIS)

    Go, Roderick S.; Munoz, Francisco D.; Watson, Jean-Paul

    2016-01-01

    Highlights: • We present a MILP to co-optimize generation, transmission, and storage investments. • We find significant value in co-optimized storage via investment deferrals. • Operational savings from bulk services are small relative to investment deferrals. • Co-optimized energy storage significantly reduces prices associated with RPS. - Abstract: Worldwide, environmental regulations such as Renewable Portfolio Standards (RPSs) are being broadly adopted to promote renewable energy investments. With corresponding increases in renewable energy deployments, there is growing interest in grid-scale energy storage systems (ESS) to provide the flexibility needed to efficiently deliver renewable power to consumers. Our contribution in this paper is to introduce a unified generation, transmission, and bulk ESS expansion planning model subject to an RPS constraint, formulated as a two-stage stochastic mixed-integer linear program (MILP) optimization model, which we then use to study the impact of co-optimization and evaluate the economic interaction between investments in these three asset classes in achieving high renewable penetrations. We present numerical case studies using the 24-bus IEEE RTS-96 test system considering wind and solar as available renewable energy resources, and demonstrate that up to $180 million/yr in total cost savings can result from the co-optimization of all three assets, relative to a situation in which no ESS investment options are available. Surprisingly, we find that co-optimized bulk ESS investments provide significant economic value through investment deferrals in transmission and generation capacity, but very little savings in operational cost. Finally, we observe that planning transmission and generation infrastructure first and later optimizing ESS investments—as is common in industry—captures at most 1.7% ($3 million/yr) of the savings that result from co-optimizing all assets simultaneously.

  11. Optimal investment for enhancing social concern about biodiversity conservation: a dynamic approach.

    Science.gov (United States)

    Lee, Joung Hun; Iwasa, Yoh

    2012-11-01

    To maintain biodiversity conservation areas, we need to invest in activities, such as monitoring the condition of the ecosystem, preventing illegal exploitation, and removing harmful alien species. These require a constant supply of resources, the level of which is determined by the concern of the society about biodiversity conservation. In this paper, we study the optimal fraction of the resources to invest in activities for enhancing the social concern y(t) by environmental education, museum displays, publications, and media exposure. We search for the strategy that maximizes the time-integral of the quality of the conservation area x(t) with temporal discounting. Analyses based on dynamic programming and Pontryagin's maximum principle show that the optimal control consists of two phases: (1) in the first phase, the social concern level approaches to the final optimal value y(∗), (2) in the second phase, resources are allocated to both activities, and the social concern level is kept constant y(t) = y(∗). If the social concern starts from a low initial level, the optimal path includes a period in which the quality of the conservation area declines temporarily, because all the resources are invested to enhance the social concern. When the support rate increases with the quality of the conservation area itself x(t) as well as with the level of social concern y(t), both variables may increase simultaneously in the second phase. We discuss the implication of the results to good management of biodiversity conservation areas. 2012 Elsevier Inc. All rights reserved

  12. Portfolio optimization in the cryptocurrency market : an evaluation of the performance of momentum strategies in the cryptocurrency market and cryptocurrency’s place in an optimized investment portfolio

    OpenAIRE

    Bjordal, Andreas; Opdahl, Espen

    2017-01-01

    In this paper, we rigorously investigate the benefit of utilizing an active investment strategy based on momentum when investing in cryptocurrencies. We also examine how including cryptocurrencies in a more traditional asset allocation can optimize an investment portfolio. First, we create strategies with the use of exponential moving averages and simple average filters to generate a trading signal. Second, we provide evidence that the active strategies receive positive return,...

  13. Oscillating between Conservation and Investment: A Grounded Theory of Students’ Strategies for Optimizing Personal Resources

    Directory of Open Access Journals (Sweden)

    Katja Hakel

    2015-06-01

    Full Text Available Students’ use of time and effort during their studies has been discussed exhaustively in mass media and educational research. In most cases, researchers try to give advice to teachers on how to get their students to become more active and engaged. The grounded theory presented in this article, however, challenges this approach by focusing on the students’ point of view. When interviewing students for this study, I soon realized that students only have a limited amount of time and effort at their disposal. Optimizing these personal resources emerged as their main concern. For the students, investing resources into one study activity always means having to reduce the amount of time and effort they can spend on other activities. They resolve their main concern by oscillating between conservation and investment strategies. Their decision regarding which type of strategy to use depends strongly on the students’ evaluation of their current situation.

  14. Study on optimized decision-making model of offshore wind power projects investment

    Science.gov (United States)

    Zhao, Tian; Yang, Shangdong; Gao, Guowei; Ma, Li

    2018-02-01

    China’s offshore wind energy is of great potential and plays an important role in promoting China’s energy structure adjustment. However, the current development of offshore wind power in China is inadequate, and is much less developed than that of onshore wind power. On the basis of considering all kinds of risks faced by offshore wind power development, an optimized model of offshore wind power investment decision is established in this paper by proposing the risk-benefit assessment method. To prove the practicability of this method in improving the selection of wind power projects, python programming is used to simulate the investment analysis of a large number of projects. Therefore, the paper is dedicated to provide decision-making support for the sound development of offshore wind power industry.

  15. Producer firms, technology diffusion and spillovers to local suppliers : Examining the effects of Foreign Direct Investment and the technology gap

    NARCIS (Netherlands)

    Jordaan, J.A.

    2017-01-01

    In this paper, we conduct a detailed examination of the effects of Foreign Direct Investment (FDI) and the technology gap on local technology dissemination and spillovers. Using unique firm level data from surveys among FDI firms and domestic producer firms and a random sample of their suppliers in

  16. New drilling optimization technologies make drilling more efficient

    Energy Technology Data Exchange (ETDEWEB)

    Chen, D.C.-K. [Halliburton Energy Services, Calgary, AB (Canada). Sperry Division

    2004-07-01

    Several new technologies have been adopted by the upstream petroleum industry in the past two decades in order to optimize drilling operations and improve drilling efficiency. Since financial returns from an oil and gas investment strongly depend on drilling costs, it is important to reduce non-productive time due to stuck pipes, lost circulation, hole cleaning and well bore stability problems. The most notable new technologies are the use of computer-based instrumentation and data acquisition systems, integrated rig site systems and networks, and Measurement-While-Drilling and Logging-While-Drilling (MWD/LWD) systems. Drilling optimization should include solutions for drillstring integrity, hydraulics management and wellbore integrity. New drilling optimization methods emphasize information management and real-time decision making. A recent study for drilling in shallow water in the Gulf of Mexico demonstrates that trouble time accounts for 25 per cent of rig time. This translates to about $1.5 MM U.S. per well. A reduction in trouble time could result in significant cost savings for the industry. This paper presents a case study on vibration prevention to demonstrate how the drilling industry has benefited from new technologies. 13 refs., 10 figs.

  17. Smooth Solutions to Optimal Investment Models with Stochastic Volatilities and Portfolio Constraints

    International Nuclear Information System (INIS)

    Pham, H.

    2002-01-01

    This paper deals with an extension of Merton's optimal investment problem to a multidimensional model with stochastic volatility and portfolio constraints. The classical dynamic programming approach leads to a characterization of the value function as a viscosity solution of the highly nonlinear associated Bellman equation. A logarithmic transformation expresses the value function in terms of the solution to a semilinear parabolic equation with quadratic growth on the derivative term. Using a stochastic control representation and some approximations, we prove the existence of a smooth solution to this semilinear equation. An optimal portfolio is shown to exist, and is expressed in terms of the classical solution to this semilinear equation. This reduction is useful for studying numerical schemes for both the value function and the optimal portfolio. We illustrate our results with several examples of stochastic volatility models popular in the financial literature

  18. REGULATORY POLICY AND OPTIMIZATION OF INVESTMENT RESOURCE ALLOCATION IN THE MODEL OF FUNCTIONING OF RECREATION INDUSTRY

    Directory of Open Access Journals (Sweden)

    Hanna Shevchenko

    2017-11-01

    Full Text Available The research objective is the rationale of the theoretical and methodical approach concerning the improvement of regulatory policy as well as the process of distribution of financial investments using the model of the functioning of a recreational sector of the national economy. The methodology of the study includes the use of optimal control theory for the model formation of the functioning of the recreational industry as well as determining the behaviour of regulatory authorities and capabilities to optimize the allocation of investment resources in the recreational sector of the national economy. Results. The issue of equilibration of regulatory policy in the recreational sector of the national economy is actualized, including the question of targeted distribution of state and external financial investments. Also, it is proved that regulatory policy should establish the frameworks that on the one hand, do not allow public authorities to exercise extra influence on the economy of recreation, on the other hand, to keep the behaviour of the recreational business entities within the limits of normal socio-economic activity – on the basis of analysis of the continuum “recreation – work” by means of modified Brennan-Buchanan model. It is revealed that even with the condition of the tax reduction, the situation when the population resting less and works more than in the background of a developed economy is observed. However, according to the optimistic forecast, eventually on condition when the economy is emerging from the shade, we will obtain an official mode of the work in which, while maintaining taxes on proposed more advantageous for the population level, ultimately the ratio leisure and work will be established which is corresponding to the principles of sustainable development. Practical value. On the basis of methodical principles of the theory of optimal control, the model of the functioning of the recreational industry under the

  19. Social rate of return to R&D on various energy technologies: Where should we invest more? A study of G7 countries

    International Nuclear Information System (INIS)

    Inglesi-Lotz, Roula

    2017-01-01

    The importance of investment in Research and Development (R&D) in the energy sector is indisputable especially considering the benefits of new technologies to sustainability, security and environmental protection. However, the nature and potential of various energy technologies that are capable of improving the energy and environmental conditions globally is a challenging task for governments and policy makers that have to make decisions on the allocation of funds in R&D. To do so, the optimal resource allocation to R&D should be determined by estimating the social rate of return for R&D investments. This paper aims to estimate the social rate of return of R&D on various energy applications and technologies such as energy efficiency, fossil fuels, renewable energy sources, and nuclear for the G7 countries. The results show that primarily R&D investment on Energy Efficiency technologies and Nuclear are the ones that yield high social benefits for all G7 countries while exactly the opposite holds for Fossil fuels. - Highlights: • Allocation of R&D funding in various energy technologies is a challenging task. • This can be done by estimating the social rate of return for R&D investments • We investigate various technologies’ social rate of return for the G7 countries. • R&D funding yields social benefits from energy efficiency and nuclear technologies. • R&D investment on fossil fuels has negative social rate of return.

  20. Higher Education Technology and Research: Creating Excellence through State Investments

    Science.gov (United States)

    New Jersey Commission on Higher Education, 2004

    2004-01-01

    Colleges and universities in New Jersey play a critical role in building and sustaining economic prosperity and quality of life in the state and beyond. Through advancements in technology and research, higher education helps to create new jobs, improve the workforce, develop new knowledge, and boost the overall economy. This report summarizes…

  1. Department of Energy Recovery Act Investment in Biomass Technologies

    Energy Technology Data Exchange (ETDEWEB)

    None

    2010-11-01

    The American Recovery and Reinvestment Act of 2009 (Recovery Act) provided more than $36 billion to the Department of Energy (DOE) to accelerate work on existing projects, undertake new and transformative research, and deploy clean energy technologies across the nation. Of this funding, $1029 million is supporting innovative work to advance biomass research, development, demonstration, and deployment.

  2. Aerospace Technology Curriculum Guide. Invest in Success. Vo. Ed. #260.

    Science.gov (United States)

    Idaho State Dept. of Education, Boise. Div. of Vocational Education.

    This document contains standards for an articulated secondary and postsecondary curriculum in aerospace technology. The curriculum standards can be used to ensure that vocational programs meet the needs of local business and industry. The first part of the document contains a task list and student performance standards for the aerospace technology…

  3. Report on the surveys in fiscal 1999 on the long term energy technology strategy investigations. Investigations on evaluation on impact of research and development investments, and optimal resource distribution; 1999 nendo choki energy gijutsu senryaku chosa hokokusho. Kenkyu kaihatsu toshi no impact hyoka oyobi saiteki shigen haibun ni kansuru chosa

    Energy Technology Data Exchange (ETDEWEB)

    NONE

    2000-03-01

    This paper is a survey report for fiscal 1999 related to investigations on evaluation on impact (influential effect) of research and development investments, and on optimal resource distribution. First, a quantification analysis was performed on the impact imposed by the New Sunshine Project having been executed in the past. The analysis used as the base the regressive analysis between the project techno-stock (an index of the project budget amount depleted by a certain obsoletion rate after having been substantiated and aggregated) and the number of theses. In a case where time-series data can be obtained on the quantity of practical application, the regressive analysis was also performed between the number of theses and the quantity of practical application. A large number of projects are stimulating research and development activities of the subject themes of all about Japan. Some are imposing great influential effect on the practical application. In addition, it was found that emphasized and concentrated investment cases in the initial stage of a project have high influential effect. As a budget distribution pattern, the concentrated and emphasized investments in the initial stage of a project are more effective than investing dispersedly over an extended period of time. Suggestions were acquired on the future budget distribution. (NEDO)

  4. Assessing the capital efficiency of healthcare information technologies investments: an econometric perspective.

    Science.gov (United States)

    Meyer, Rodolphe; Degoulet, Patrice

    2008-01-01

    To examine the different methods that can be used in the quantification of the added value of information technologies (IT) in the health care sector. This quantification represents a major issue for decision-makers and health care professionals when they have to plan an IT investment. Articles were chosen via Medline, internet and the University of Geneva bibliographic portal. Some of the papers were obtained directly from their authors. We examine the most current methods used to evaluate IT return on investment (ROI) in the general business and in the health care sector, drawing attention on methods traditionally used in macroeconomic studies that could reveal themselves disruptive for IT ROI impact evaluation in hospitals. Financial and accounting methods can provide interesting data on a specific IT project but are usually incomplete for revealing the global IT investment influence. Econometric methods tend to demonstrate the positive impact of health care IT (HIT) on hospital production and productivity. Hospitals having higher levels of IT investment tend to deliver a higher level of clinical quality and show improved hospital cost performances. Information technologies are so intermingled with people and processes that the identification of specific IT benefit remains questionable. Using macroeconomic tools could be the best way to analyze and compute IT ROI in health care. Econometric tools take into account all types investments (inputs) and all the returns (outputs) enabling the precise measurement of IT investments impact, breakeven points, and possible threshold levels, thus providing helpful intelligence to reach the higher levels of IT governance in hospitals.

  5. Carbon Capture and Storage Investment and Management in an Environment of Technological and Price Uncertainties

    Energy Technology Data Exchange (ETDEWEB)

    Geske, Joachim; Herold, Johannes [Forschungszentrum Juelich and TU Dresden (Germany)

    2009-07-01

    In this paper we use a real options approach to analyze investment in a CCS postcombustion technology. Uncertainties in the development of efficiency and certificate prices are taken into account. We therefore propose a bounded monotone stochastic process to model energy efficiency development which is in line with thermodynamic limitations. The option not to employ the technology is allowed for. Parameter values are selected carefully. Numerical analysis shows plausible qualitative features. Furthermore there exist investment barriers for each uncertain parameter alone which reduce if interaction of the independent processes is permitted.

  6. Investments in information systems and technology in the healthcare: Project management mediation

    Directory of Open Access Journals (Sweden)

    Jorge Gomes

    2017-03-01

    Full Text Available Healthcare organisations must improve their business practices and internal procedures in order to answer the increasing demand of health professionals and the general public for more and better information. Hospitals invest massively in information systems and technology (IS/IT in the hope that these investments will improve healthcare and meet patients’ demands. The main objective of our research is to study how organisational maturity, enhanced by investments in IS/IT, project management and best practices, leads to successful projects in public healthcare organisations. The rational of our model is that organisational maturity has a positive effect on IS/IT project success, and that this success is also positively enhanced by the use of project management practices. We emphasise that this combination of approaches can increase the effectiveness of projects. Furthermore, it can also improve the confidence that the results of investments will meet stakeholders’ expectations.

  7. Barriers to optimizing investments in the built environment to reduce youth obesity: policy-maker perspectives.

    Science.gov (United States)

    Grant, Jill L; MacKay, Kathryn C; Manuel, Patricia M; McHugh, Tara-Leigh F

    2010-01-01

    To identify factors which limit the ability of local governments to make appropriate investments in the built environment to promote youth health and reduce obesity outcomes in Atlantic Canada. Policy-makers and professionals participated in focus groups to discuss the receptiveness of local governments to introducing health considerations into decision-making. Seven facilitated focus groups involved 44 participants from Atlantic Canada. Thematic discourse analysis of the meeting transcripts identified systemic barriers to creating a built environment that fosters health for youth aged 12-15 years. Participants consistently identified four categories of barriers. Financial barriers limit the capacities of local government to build, maintain and operate appropriate facilities. Legacy issues mean that communities inherit a built environment designed to facilitate car use, with inadequate zoning authority to control fast food outlets, and without the means to determine where schools are built or how they are used. Governance barriers derive from government departments with distinct and competing mandates, with a professional structure that privileges engineering, and with funding programs that encourage competition between municipalities. Cultural factors and values affect outcomes: people have adapted to car-oriented living; poverty reduces options for many families; parental fears limit children's mobility; youth receive limited priority in built environment investments. Participants indicated that health issues have increasing profile within local government, making this an opportune time to discuss strategies for optimizing investments in the built environment. The focus group method can foster mutual learning among professionals within government in ways that could advance health promotion.

  8. Forecasting of Power Grid Investment in China Based on Support Vector Machine Optimized by Differential Evolution Algorithm and Grey Wolf Optimization Algorithm

    Directory of Open Access Journals (Sweden)

    Shuyu Dai

    2018-04-01

    Full Text Available In recent years, the construction of China’s power grid has experienced rapid development, and its scale has leaped into the first place in the world. Accurate and effective prediction of power grid investment can not only help pool funds and rationally arrange investment in power grid construction, but also reduce capital costs and economic risks, which plays a crucial role in promoting power grid investment planning and construction process. In order to forecast the power grid investment of China accurately, firstly on the basis of analyzing the influencing factors of power grid investment, the influencing factors system for China’s power grid investment forecasting is constructed in this article. The method of grey relational analysis is used for screening the main influencing factors as the prediction model input. Then, a novel power grid investment prediction model based on DE-GWO-SVM (support vector machine optimized by differential evolution and grey wolf optimization algorithm is proposed. Next, two cases are taken for empirical analysis to prove that the DE-GWO-SVM model has strong generalization capacity and has achieved a good prediction effect for power grid investment forecasting in China. Finally, the DE-GWO-SVM model is adopted to forecast power grid investment in China from 2018 to 2022.

  9. Enabling Telescopes of the Future: Long-Range Technology Investing

    Science.gov (United States)

    Thronson, Harley

    2004-01-01

    The Office of Space Science at NASA Headquarters has a current staff of about 60 professionals (aka, scientists, engineers, budget analysts) and an annual budget of $2.5 B out of NASA s $15.0 B. About 35 missions or programs in various stages of development or operation are managed by OSS, notable among them are Hubble Space Telescope, Mars Global Surveyor, Mars 2001 Odyssey, Chandra X-ray Observatory, TRACE (solar observatory), Cassini (mission to Saturn), Galileo (mission at Jupiter), and Next Generation Space Telescope. OSS has an annual technology budget of several hundred million dollars. So, what is it that we are doing?

  10. Investment inefficiency and the adoption of eco-innovations: The case of household energy efficiency technologies

    International Nuclear Information System (INIS)

    Diaz-Rainey, Ivan; Ashton, John K.

    2015-01-01

    This paper examines the factors determining household adoption of energy efficiency eco-innovations. We do so by testing hypotheses grounded in diffusion and finance theory and the literature on the barriers to energy efficiency. Using two large surveys of UK households, we explore the adoption of nine technologies. Our results indicate ‘investment inefficiency’ amongst household adopters occurs for two reasons. First, contrary to notions of rational choice, we find a negative relationship between the investment return of technologies and their level of diffusion. Second, we show adopters of these technologies display characteristics broadly consistent with diffusion theory, contradicting the prediction of finance theory that investment return, not individual characteristics, should drive adoption. We also find that policy has played a role in inducing the diffusion of these technologies and that tenure and spill-over effects are important in adoption. Finally, adoption is motivated more by a desire to save money than by environmental concern. We conclude by giving examples of how our research can lead to better policy timing and targeting. -- Highlights: •We explore the factors driving household adoption of energy efficiency technologies. •We employ two high quality nationally representative cross sectional surveys. •There is a negative relationship between investment return and level of diffusion. •Adopters display characteristics broadly consistent with diffusion theory. •Policy interventions, tenure effects and spill-over effects also influence adoption

  11. Incentives of carbon dioxide regulation for investment in low-carbon electricity technologies in Texas

    International Nuclear Information System (INIS)

    Castillo, Anya; Linn, Joshua

    2011-01-01

    This paper compares the incentives a carbon dioxide emissions price creates for investment in low carbon dioxide-emitting technologies in the electricity sector. We consider the extent to which operational differences across generation technologies - particularly, nuclear, wind and solar photovoltaic - create differences in the incentives for new investment, which is measured by the operating profits of a potential entrant. First, astylized model of an electricity system demonstrates that the composition of the existing generation system may cause electricity prices to increase by different amounts over time when a carbon dioxide price is imposed. Differences in operation across technologies therefore translate to differences in the operating profits of a potential entrant. Then, a detailed simulation model is used to consider a hypothetical carbon dioxide price of $10-$50 per metric ton for the Electric Reliability Council of Texas (ERCOT) market. The simulations show that, for the range of prices considered, the increase in electricity prices is positively correlated with output from a typical wind unit, but the correlation is much weaker for nuclear and photovoltaic. Consequently, a carbon dioxide price creates much stronger investment incentives for wind than for nuclear or photovoltaic technologies in the Texas market. - Highlights: → Compare incentives for new investment in low-emission electricity technologies created by carbon dioxide price. → Focus on ERCOT power system using stochastic unit commitment model. →Find a greater incentive for wind than solar or nuclear because of correlation between wind generation and increase in electricity prices.

  12. A methodological model to assist in the optimization and risk management of mining investment decisions

    International Nuclear Information System (INIS)

    Botin, Jose A; Guzman, Ronald R; Smith, Martin L

    2011-01-01

    Identifying, quantifying, and minimizing technical risks associated with investment decisions is a key challenge for mineral industry decision makers and investors. However, risk analysis in most bankable mine feasibility studies are based on the stochastic modeling of project N et Present Value (NPV)which, in most cases, fails to provide decision makers with a truly comprehensive analysis of risks associated with technical and management uncertainty and, as a result, are of little use for risk management and project optimization. This paper presents a value-chain risk management approach where project risk is evaluated for each step of the project life cycle, from exploration to mine closure, and risk management is performed as a part of a stepwise value-added optimization process.

  13. Measuring the strategic value of information technology investments

    International Nuclear Information System (INIS)

    Conrad, K.W.

    1994-08-01

    Value is often perceived differently by the proponents of new information technologies and those who allocate resources and define priorities. Such differences often become a roadblock to meeting true business needs. Project justifications regularly rely on calculated cost savings, which rarely measure the full benefit of new technologies. In fact, if cost savings provide a complete picture, then the organization is probably just automating routine clerical operations and has abandoned efforts that would provide significant strategic value. Strategic value is not limited to financial calculations, but includes quality, time and risk criteria. This paper describes approaches for measuring strategic value that can provide organizations with proven techniques to improve performance, reengineer processes, benchmark performance against other suppliers, identify outsourcing opportunities, or defend themselves from pressures to outsource. Many organizations respond to tightening budgets by cutting overhead. These measurement approaches can demonstrate how overhead is critical to organizational effectiveness and how cost savings can be found, instead, by measurably improving performance throughout the organization. Finally, the paper describes efforts underway within the Department of Energy and at the Hanford Site to implement the approaches described in this paper

  14. Measuring the strategic value of information technology investments

    Energy Technology Data Exchange (ETDEWEB)

    Conrad, K.W. [Boeing Computer Services Co., Richland, WA (United States)

    1994-08-01

    Value is often perceived differently by the proponents of new information technologies and those who allocate resources and define priorities. Such differences often become a roadblock to meeting true business needs. Project justifications regularly rely on calculated cost savings, which rarely measure the full benefit of new technologies. In fact, if cost savings provide a complete picture, then the organization is probably just automating routine clerical operations and has abandoned efforts that would provide significant strategic value. Strategic value is not limited to financial calculations, but includes quality, time and risk criteria. This paper describes approaches for measuring strategic value that can provide organizations with proven techniques to improve performance, reengineer processes, benchmark performance against other suppliers, identify outsourcing opportunities, or defend themselves from pressures to outsource. Many organizations respond to tightening budgets by cutting overhead. These measurement approaches can demonstrate how overhead is critical to organizational effectiveness and how cost savings can be found, instead, by measurably improving performance throughout the organization. Finally, the paper describes efforts underway within the Department of Energy and at the Hanford Site to implement the approaches described in this paper.

  15. A stochastic dynamic model for optimal timing of investments in new generation capacity in restructured power systems

    International Nuclear Information System (INIS)

    Botterud, Audun; Korpaas, Magnus

    2007-01-01

    In this paper we formulate the power generation investment problem for a decentralised and profit-maximising investor operating in a restructured and competitive power system. In particular, we look at how uncertainty influences the optimal timing of investments in new power generation capacity. A real options approach is used to take long-term uncertainty in load growth, and its influence on future electricity prices, into account in the investment optimisation. In order to value the operational flexibility of a new power plant we use an electricity price model, where the spot price is a function of load level and installed generation capacity, in addition to short-term uncertainties and temporal fluctuations in the market. The investor's income from a capacity payment, which also can depend on the system's total capacity balance, can also be represented. Hence, with the optimisation model we can analyse power plant profitability and optimal timing of new investments under different market designs. In a case study from the Nordic electricity market we analyse the effect of uncertainty on optimal investment timing. We also examine how a fixed or variable capacity payment would influence the investment decision, and discuss the system consequences of the resulting investment strategies. (author)

  16. Correlationally Assessing the Relationship of Information Technology Investments in Electronic Medical Records to Business Value

    Science.gov (United States)

    Richardson, Daniel J.

    2009-01-01

    The lag in information exchange and assimilation adoption experienced by modern primary care physicians in the conduct of evidence based medicine may be affecting health care system productivity and patient quality of care. Further, interest in whether or not information technology (IT) investments show an increase in business value has increased…

  17. Model for optimization of plant investments in combined power and heat production systems

    Energy Technology Data Exchange (ETDEWEB)

    Jantunen, E.; Sinisalo, A.; Koskelainen, L.

    1980-01-01

    A mathematical model is developed for optimal dimensioning and timing the investments of power and heat production system in a community. The required electric power may be purchased by different production systems, such as: thermal power plants, gas turbines, diesel plants, etc. or by delivering all or part of it from a national power company. Also the required heat may be produced in many different ways in single-purpose or combined plants. The model assumes the extent of the heating system fixed, and it is not optimized. It is assumed that the same company is responsible for supplying both the power and heat for the community. It's aim is to allocate the existing capital in an optimal way, and the model may be used for facilitating the decision in such questions as: what kind of production capacity should be purchased in future; how high should the heat and power capacities be; and when should this additional capacity be available. The report also reviews the methods for forecasting the demand of power and heat and their fluctuation during the planning period. The solution of this large-scale non-linear optimization problem is searched via successive linearizations by using the Method of Approximate Programming (MAP). It was found that the solution method is very suitable for this kind of multivariable problems. The computing times with the Functional Mathematical Programmin System (FMPS) in Univac 1108 computer were quite reasonable.

  18. Foreign direct investment and technology spillovers in Mexico: 20 years of NAFTA

    OpenAIRE

    Armas, Enrique; Rodríguez, José Carlos

    2017-01-01

    This article analyses the development of technology capabilities in the manufacturing sector of Mexico during the last two decades. It has been argued that the inclusion of Mexico in the North America Free Trade Agreement (NAFTA) in 1994 would be enough to catch up with Canada and the United States. In this regard, trade liberalisation and foreign direct investment (FDI) would have been two strategic tools to close the technology gap between Mexico and its commercial partners in North America...

  19. The Baetylus Theorem?the central disconnect driving consumer behavior and investment returns in Wearable Technologies

    OpenAIRE

    Levine, James A.

    2016-01-01

    The Wearable Technology market may increase fivefold by the end of the decade. There is almost no academic investigation as to what drives the investment hypothesis in wearable technologies. This paper seeks to examine this issue from an evidence-based perspective. There is a fundamental disconnect in how consumers view wearable sensors and how companies market them; this is called The Baetylus Theorem where people believe (falsely) that by buying a wearable sensor they will receive health be...

  20. Design and optimization of sustainable process technologies

    DEFF Research Database (Denmark)

    Mussatto, Solange I.; Qin, Fen; Yamakawa, Celina Kiyomi

    has been then considered a keypoint to achieve such purposes, being also able to result in potential environmental, economic, and social benefits. In this sense, the Biomass Conversion and Bioprocess TechnologyGroup (BCBT) has been working on the development of newstrategies for the use of biomass......, minimizing the costs and maximizing the efficiencyand productivity.Once the optimal conditions are identified, the process scale-up can be then evaluated. This could be translated in a faster time to market for newprocess technologies....

  1. Optimization as investment decision support in a Swedish medium-sized iron foundry - A move beyond traditional energy auditing

    International Nuclear Information System (INIS)

    Thollander, Patrik; Mardan, Nawzad; Karlsson, Magnus

    2009-01-01

    Due to increased globalisation, industries are facing greater competition that is pressing companies into decreasing their expenses in order to increase their profits. As regards Swedish industry, it has been faced with substantial increases in energy prices in recent years. Barriers to energy efficiency such as imperfect information inhibit investments in energy efficiency measures, energy audits being one means of reducing barriers and overcoming imperfect information. However, an evaluation of such energy audits in Sweden reveals that it is chiefly low-cost measures that are undertaken as a result of an audit. Moreover, these audits often tend to focus on support processes such as ventilation, lighting, air compressors etc., while measures impacting production processes are often not as extensively covered, which underlines the need for further support in addition to energy audits. Decision support is practised in a variety of different disciplines such as optimization and simulation and the aim of this paper is to explore whether investment decision support practices may be used successfully towards small and medium-sized manufacturers in Sweden when complex production-related investment decisions are taken. The optimization results from the different cases, involving a foundry's investment in a new melting unit, indicate that with no electricity price fluctuations over the day, the investment seems sound as it lowers the overall energy costs. However, with fluctuating electricity prices, there are no large differences in energy costs between the option of retaining the existing five melting furnaces at the foundry and investing in a twin furnace and removing the holding furnaces - which was the initial investment plan for the foundry in the study. It would not have been possible to achieve this outcome without the use of investment decision support such as MIND. One of the main conclusions in this paper is that investment decision support, when strategic

  2. Optimal pricing and investment in the electricity sector in Tamil Nadu, India

    Science.gov (United States)

    Murthy, Ranganath Srinivas

    2001-07-01

    Faulty pricing policies and inadequate investment in the power sector are responsible for the chronic power shortages that plague Tamil Nadu and the rest of India. Formulae for optimal pricing rules are derived for a social welfare maximizing Electricity Board which sells electricity that is used both as an intermediate, and as a final good. Because of distributional constraints, the optimal prices deviate systematically from marginal costs. Optimal relative price-marginal cost differentials are computed for Tamil Nadu, and are found to indicate a lower degree of subsidization than the prevailing prices. The rationalization of electricity tariffs would very likely increase the Board's revenues. The cost-effectiveness of nuclear power in India is examined by comparing actual data for the Madras Atomic Power Project and the Singrauli coal-fired thermal power station. The conventional (non-environmental) costs of power generation are compared at both market prices and shadow prices, calculated according to the UNIDO guidelines for project evaluation. Despite favorable assumptions for the costs of the nuclear plant, coal had a decided edge over nuclear in Tamil Nadu. Remarkably, the edge varied little when market prices are replaced by shadow prices in the computations. With regard to the environmental costs, far too much remains unknown. More research is therefore needed on the environmental impacts of both types of power generation before a final choice can be made.

  3. Optimizing long-term investments for a sustainable development of the ASEAN power system

    International Nuclear Information System (INIS)

    Huber, Matthias; Roger, Albert; Hamacher, Thomas

    2015-01-01

    The electricity consumption in the ASEAN (Association of East Asian Nations) region is one of the fastest growing in the world and will lead to a dramatic increase in greenhouse gas emissions in the next decades. A decarbonization of the region's electricity supply is thus a very important measure when taking action on global climate change. This paper defines cost-optimal pathways towards a sustainable power system in the region by employing linear optimization. The proposed model simultaneously optimizes the required capacities and the hourly operation of generation, transmission, and storage. The obtained results show that all different kinds of renewable sources will have to be utilized, while none of them should have a share of more than one third. The findings give reason for setting up an ASEAN power grid, as it enables the transportation of electricity from the best sites to load centers and leads to a balancing of the fluctuations from wind and solar generation. We suggest fostering a diversified extension of renewables and to elaborate on political and technical solutions that enable the build up an transnational supergrid. - Highlights: • Article presents an optimization model of the ASEAN power system with high temporal and spatial resolution. • Cost-optimal investment options for achieving a sustainable electricity system are explored. • All types of renewable energies have to be employed while none of them should provide more than one third of overall supply. • Large transcontinental transmission grids will be crucial for a cost-minimal decarbonization of the ASEAN electricity sector

  4. Optimizing time and resource allocation trade-offs for investment into morphological and behavioral defense

    DEFF Research Database (Denmark)

    Steiner, Uli; Pfeiffer, Thomas

    2007-01-01

    pronounced at intermediate environmental conditions. Optimizing single traits generally leads to a more pronounced response of the defense traits, which implies that studying single traits leads to an overestimation of their response to predation. Behavioral defense and morphological defense compensate......Prey organisms are confronted with time and resource allocation trade-offs. Time allocation trade-offs partition time, for example, between foraging effort to acquire resources and behavioral defense. Resource allocation trade-offs partition the acquired resources between multiple traits...... for and augment each other depending on predator densities and the effectiveness of the defense mechanisms. In the presence of time constraints, the model shows peak investment into morphological and behavioral defense at intermediate resource levels....

  5. Risk based economic optimization of investment decisions of regulated power distribution system operators; Risikobasierte wirtschaftliche Optimierung von Investitionsentscheidungen regulierter Stromnetzbetreiber

    Energy Technology Data Exchange (ETDEWEB)

    John, Oliver

    2012-07-01

    The author of the contribution under consideration reports on risk-based economic optimization of investment decisions of regulated power distribution system operators. The focus is the economically rational decision behavior of operators under certain regulatory requirements. Investments in power distribution systems form the items subject to decisions. Starting from a description of theoretical and practical regulatory approaches, their financial implications are quantified at first. On this basis, optimization strategies are derived with respect to the investment behavior. For this purpose, an optimization algorithm is developed and applied to exemplary companies. Finally, effects of uncertainties in regulatory systems are investigated. In this context, Monte Carlo simulations are used in conjunction with real options analysis.

  6. Evaluation of Representative Smart Grid Investment Grant Project Technologies: Distributed Generation

    Energy Technology Data Exchange (ETDEWEB)

    Singh, Ruchi; Vyakaranam, Bharat GNVSR

    2012-02-14

    This document is one of a series of reports estimating the benefits of deploying technologies similar to those implemented on the Smart Grid Investment Grant (SGIG) projects. Four technical reports cover the various types of technologies deployed in the SGIG projects, distribution automation, demand response, energy storage, and renewables integration. A fifth report in the series examines the benefits of deploying these technologies on a national level. This technical report examines the impacts of addition of renewable resources- solar and wind in the distribution system as deployed in the SGIG projects.

  7. Transportation Energy Futures Series: Vehicle Technology Deployment Pathways: An Examination of Timing and Investment Constraints

    Energy Technology Data Exchange (ETDEWEB)

    Plotkin, S.; Stephens, T.; McManus, W.

    2013-03-01

    Scenarios of new vehicle technology deployment serve various purposes; some will seek to establish plausibility. This report proposes two reality checks for scenarios: (1) implications of manufacturing constraints on timing of vehicle deployment and (2) investment decisions required to bring new vehicle technologies to market. An estimated timeline of 12 to more than 22 years from initial market introduction to saturation is supported by historical examples and based on the product development process. Researchers also consider the series of investment decisions to develop and build the vehicles and their associated fueling infrastructure. A proposed decision tree analysis structure could be used to systematically examine investors' decisions and the potential outcomes, including consideration of cash flow and return on investment. This method requires data or assumptions about capital cost, variable cost, revenue, timing, and probability of success/failure, and would result in a detailed consideration of the value proposition of large investments and long lead times. This is one of a series of reports produced as a result of the Transportation Energy Futures (TEF) project, a Department of Energy-sponsored multi-agency effort to pinpoint underexplored strategies for abating GHGs and reducing petroleum dependence related to transportation.

  8. Transportation Energy Futures Series. Vehicle Technology Deployment Pathways. An Examination of Timing and Investment Constraints

    Energy Technology Data Exchange (ETDEWEB)

    Plotkin, Steve [Argonne National Lab. (ANL), Argonne, IL (United States); Stephens, Thomas [Argonne National Lab. (ANL), Argonne, IL (United States); McManus, Walter [Oakland Univ., Rochester, MI (United States)

    2013-03-01

    Scenarios of new vehicle technology deployment serve various purposes; some will seek to establish plausibility. This report proposes two reality checks for scenarios: (1) implications of manufacturing constraints on timing of vehicle deployment and (2) investment decisions required to bring new vehicle technologies to market. An estimated timeline of 12 to more than 22 years from initial market introduction to saturation is supported by historical examples and based on the product development process. Researchers also consider the series of investment decisions to develop and build the vehicles and their associated fueling infrastructure. A proposed decision tree analysis structure could be used to systematically examine investors' decisions and the potential outcomes, including consideration of cash flow and return on investment. This method requires data or assumptions about capital cost, variable cost, revenue, timing, and probability of success/failure, and would result in a detailed consideration of the value proposition of large investments and long lead times. This is one of a series of reports produced as a result of the Transportation Energy Futures (TEF) project, a Department of Energy-sponsored multi-agency effort to pinpoint underexplored strategies for abating GHGs and reducing petroleum dependence related to transportation.

  9. Decision Analysis Methods Used to Make Appropriate Investments in Human Exploration Capabilities and Technologies

    Science.gov (United States)

    Williams-Byrd, Julie; Arney, Dale C.; Hay, Jason; Reeves, John D.; Craig, Douglas

    2016-01-01

    NASA is transforming human spaceflight. The Agency is shifting from an exploration-based program with human activities in low Earth orbit (LEO) and targeted robotic missions in deep space to a more sustainable and integrated pioneering approach. Through pioneering, NASA seeks to address national goals to develop the capacity for people to work, learn, operate, live, and thrive safely beyond Earth for extended periods of time. However, pioneering space involves daunting technical challenges of transportation, maintaining health, and enabling crew productivity for long durations in remote, hostile, and alien environments. Prudent investments in capability and technology developments, based on mission need, are critical for enabling a campaign of human exploration missions. There are a wide variety of capabilities and technologies that could enable these missions, so it is a major challenge for NASA's Human Exploration and Operations Mission Directorate (HEOMD) to make knowledgeable portfolio decisions. It is critical for this pioneering initiative that these investment decisions are informed with a prioritization process that is robust and defensible. It is NASA's role to invest in targeted technologies and capabilities that would enable exploration missions even though specific requirements have not been identified. To inform these investments decisions, NASA's HEOMD has supported a variety of analysis activities that prioritize capabilities and technologies. These activities are often based on input from subject matter experts within the NASA community who understand the technical challenges of enabling human exploration missions. This paper will review a variety of processes and methods that NASA has used to prioritize and rank capabilities and technologies applicable to human space exploration. The paper will show the similarities in the various processes and showcase instances were customer specified priorities force modifications to the process. Specifically

  10. Forecasting the Optimal Factors of Formation of the Population Savings as the Basis for Investment Resources of the Regional Economy

    Directory of Open Access Journals (Sweden)

    Odintsova Tetiana M.

    2017-04-01

    Full Text Available The article is aimed at studying the optimal factors of formation of the population savings as the basis for investment resources of the regional economy. A factorial (nonlinear correlative-regression analysis of the formation of savings of the population of Ukraine was completed. On its basis a forecast of the optimal structure and volumes of formation of the population incomes was carried out taking into consideration impact of fundamental factors on these incomes. Such approach provides to identify the marginal volumes of tax burden, population savings, and capital investments, directed to economic growth.

  11. Optimal pollution taxes and endogenous technological progress

    International Nuclear Information System (INIS)

    Parry, I.W.H.

    1995-01-01

    The optimal pollution tax becomes complicated when allowance is made for endogenous innovation, under a patent system. However, if anything, it is below marginal environmental damages, to counteract monopoly pricing by the patent holder, the common pool effect associated with research and a possible excess of patent holder revenue over the social benefits from innovation when environmental damages are convex. In cases where patents are weak at securing appropriability, for example when rivals can easily imitate around patented technologies, awarding research prizes or contracts is probably more efficient than raising the pollution tax. 24 refs., 4 figs

  12. Market Power and Investment in Renewable Electricity Generation

    DEFF Research Database (Denmark)

    Ernstsen, Rune Ramsdal; Misir, Nihat

    while incurring lower investment costs. We additionally find that highly convex investment cost greatly diminishes the impact of market power on the investment decisions. Furthermore, for both the strategic firm and the social planner, fixed baseload generation is preferable during low installed...... approach to evaluate the investment decisions. In our paper we do not only focus on the differences in costs for different technologies but also on the differences in operation of those technologies and how those differences impact the optimal investment decisions. In our model, the one-time investment...... decision requires the determination of demand shock trigger level, choice of technology and level of optimal capacity. We specifically investigate how the investment triggers, optimal capacities and technology choices change with the changes to the investment cost function, demand uncertainty and the level...

  13. Calculation of Investments for the Distribution of GPON Technology in the village of Bishtazhin through database

    Directory of Open Access Journals (Sweden)

    MSc. Jusuf Qarkaxhija

    2013-12-01

    Full Text Available According to daily reports, the income from internet services is getting lower each year. Landline phone services are running at a loss,  whereas mobile phone services are getting too mainstream and the only bright spot holding together cable operators (ISP  in positive balance is the income from broadband services (Fast internet, IPTV. Broadband technology is a term that defines multiple methods of information distribution through internet at great speed. Some of the broadband technologies are: optic fiber, coaxial cable, DSL, Wireless, mobile broadband, and satellite connection.  The ultimate goal of any broadband service provider is being able to provide voice, data and the video through a single network, called triple play service. The Internet distribution remains an important issue in Kosovo and particularly in rural zones. Considering the immense development of the technologies and different alternatives that we can face, the goal of this paper is to emphasize the necessity of a forecasting of such investment and to give an experience in this aspect. Because of the fact that in this investment are involved many factors related to population, geographical factors, several technologies and the fact that these factors are in continuously change, the best way is, to store all the data in a database and to use this database for different results. This database helps us to substitute the previous manual calculations with an automatic procedure of calculations. This way of work will improve the work style, having now all the tools to take the right decision about an Internet investment considering all the aspects of this investment.

  14. Evaluating the impact of investments in information technology on structural inertia in health organizations.

    Science.gov (United States)

    Bewley, Lee W

    2010-01-01

    Structural inertia is the overall capacity of an organization to adapt within a market environment. This paper reviews the impact of healthcare investments in information management/information technology (IM/IT) on the strategic management concept of structural inertia. Research indicates that healthcare executives should consider the relative state of structural inertia for their firms and match them with potential IM/IT solutions. Additionally, organizations should favorably consider IM/IT solutions that are comparatively less complex.

  15. Optimal investment and location decisions of a firm in a flood risk area using Impulse Control Theory

    Science.gov (United States)

    Grames, Johanna; Grass, Dieter; Kort, Peter; Prskawetz, Alexia

    2017-04-01

    Flooding events can affect businesses close to rivers, lakes or coasts. This paper provides a partial equilibrium model which helps to understand the optimal location choice for a firm in flood risk areas and its investment strategies. How often, when and how much are firms willing to invest in flood risk protection measures? We apply Impulse Control Theory to solve the model analytically and develop a continuation algorithm to solve the model numerically. Firms always invest in flood defense. The investment increases the higher the flood risk and the more firms also value the future, i.e. the more sustainable they plan. Investments in production capital follow a similar path. Hence, planning in a sustainable way leads to economic growth. Sociohydrological feedbacks are crucial for the location choice of the firm, whereas different economic situations have an impact on investment strategies. If flood defense is already present, e.g. built up by the government, firms move closer to the water and invest less in flood defense, which allows firms to accrue higher expected profits. Firms with a large initial production capital surprisingly try not to keep their market advantage, but rather reduce flood risk by reducing exposed production capital.

  16. Investment appraisal of automatic milking and conventional milking technologies in a pasture-based dairy system.

    Science.gov (United States)

    Shortall, J; Shalloo, L; Foley, C; Sleator, R D; O'Brien, B

    2016-09-01

    The successful integration of automatic milking (AM) systems and grazing has resulted in AM becoming a feasible alternative to conventional milking (CM) in pasture-based systems. The objective of this study was to identify the profitability of AM in a pasture-based system, relative to CM herringbone parlors with 2 different levels of automation, across 2 farm sizes, over a 10-yr period following initial investment. The scenarios which were evaluated were (1) a medium farm milking 70 cows twice daily, with 1 AM unit, a 12-unit CM medium-specification (MS) parlor and a 12-unit CM high-specification (HS) parlor, and (2) a large farm milking 140 cows twice daily with 2 AM units, a 20-unit CM MS parlor and a 20-unit CM HS parlor. A stochastic whole-farm budgetary simulation model combined capital investment costs and annual labor and maintenance costs for each investment scenario, with each scenario evaluated using multiple financial metrics, such as annual net profit, annual net cash flow, total discounted net profitability, total discounted net cash flow, and return on investment. The capital required for each investment was financed from borrowings at an interest rate of 5% and repaid over 10-yr, whereas milking equipment and building infrastructure were depreciated over 10 and 20 yr, respectively. A supporting labor audit (conducted on both AM and CM farms) showed a 36% reduction in labor demand associated with AM. However, despite this reduction in labor, MS CM technologies consistently achieved greater profitability, irrespective of farm size. The AM system achieved intermediate profitability at medium farm size; it was 0.5% less profitable than HS technology at the large farm size. The difference in profitability was greatest in the years after the initial investment. This study indicated that although milking with AM was less profitable than MS technologies, it was competitive when compared with a CM parlor of similar technology. Copyright © 2016 American Dairy

  17. Investigation of Multi-Criteria Decision Consistency: A Triplex Approach to Optimal Oilfield Portfolio Investment Decisions

    Science.gov (United States)

    Qaradaghi, Mohammed

    Complexity of the capital intensive oil and gas portfolio investments is continuously growing. It is manifested in the constant increase in the type, number and degree of risks and uncertainties, which consequently lead to more challenging decision making problems. A typical complex decision making problem in petroleum exploration and production (E&P) is the selection and prioritization of oilfields/projects in a portfolio investment. Prioritizing oilfields maybe required for different purposes, including the achievement of a targeted production and allocation of limited available development resources. These resources cannot be distributed evenly nor can they be allocated based on the oilfield size or production capacity alone since various other factors need to be considered simultaneously. These factors may include subsurface complexity, size of reservoir, plateau production and needed infrastructure in addition to other issues of strategic concern, such as socio-economic, environmental and fiscal policies, particularly when the decision making involves governments or national oil companies. Therefore, it would be imperative to employ decision aiding tools that not only address these factors, but also incorporate the decision makers' preferences clearly and accurately. However, the tools commonly used in project portfolio selection and optimization, including intuitive approaches, vary in their focus and strength in addressing the different criteria involved in such decision problems. They are also disadvantaged by a number of drawbacks, which may include lacking the capacity to address multiple and interrelated criteria, uncertainty and risk, project relationship with regard to value contribution and optimum resource utilization, non-monetary attributes, decision maker's knowledge and expertise, in addition to varying levels of ease of use and other practical and theoretical drawbacks. These drawbacks have motivated researchers to investigate other tools and

  18. News and views: perspectives on graphene and other 2d materials research and technology investments

    International Nuclear Information System (INIS)

    Ribeiro-Soares, J.

    2014-01-01

    With the actual experimental realization of graphene samples, it became possible not only to exploit the special physical properties of graphene but also to exploit its technological applications. As the field developed, the discovery of other 2D materials occurred and this opened up access to a plethora of combinations of a large variety of electrical, optical, mechanical, and chemical properties. Now there are large investments being made around the world to develop the graphene research area and to boost graphene use in technology. Here, we discuss current research and some future prospects for this area of layered nanomaterials. (author)

  19. Applying Internet-based Technologies to Teaching Corporate Finance and Investments

    Directory of Open Access Journals (Sweden)

    Zhuoming “Joe” Peng, Ph.D.,

    2006-07-01

    Full Text Available Finance faculty are increasingly encouraged to use internet-based technologies in teaching. This paper examines students’ perceptions of finance faculty who use internet-based technologies and the impact on their learning experiences in undergraduate introductory corporate finance, investments, and MBA investments courses. The results suggest that offering all course materials online may enhance students’ learning experiences, however, the technologies may be best thought of as teaching tools. A better methodology for a finance course delivery may be that of in-classroom interactions between an instructor and the students while all the pertinent course materials are available online throughout the semester. There is a statistically significant difference between MBA (Master of Business Administration students and undergraduate business students in terms of their desire to use the internet for learning finance. Consistent with previous research, results indicate that it may not be common practice among faculty to use internet-based technologies, and that assistant professors tend to use technologies in teaching more often than their higher-ranked colleagues do.

  20. An assessment of the optimal timing and size of investments in concentrated solar power

    International Nuclear Information System (INIS)

    Massetti, Emanuele; Ricci, Elena Claire

    2013-01-01

    We extend the WITCH model to consider the possibility to produce and trade electricity generated by large-scale concentrated solar power plants (CSP) in highly productive areas that are connected to demand centers through High Voltage Direct Current cables. We test the attractiveness of the CSP option by imposing a global cap on Greenhouse gases concentration equal to 535 ppm CO 2 -eq in 2100, with and without constraints to the expansion of nuclear power and IGCC coal with carbon capture and storage (CCS). We find that it becomes optimal to produce with CSP from 2040 and to trade CSP electricity across the Mediterranean from 2050. Therefore projects like DESERTEC seem to be premature. After 2050, CSP electricity shares become significant. CSP has a high stabilization cost option value: depending on the constraints, it ranges between 2.1% and 4.1% of discounted GDP in the Middle East and North Africa (MENA), between 1.1. and 3.4 in China, between 0.2% and 1.2% in the USA, between 0.1 and 1.3% in Eastern Europe and between 0.1 and 0.4% in Western Europe. A moderate level of subsidy to invest more and earlier in CSP might increase welfare. However, large-scale deployment should occur after 2040. We also show that MENA countries have the incentive to form a cartel to sell electricity to Europe at a price higher than the marginal cost. This suggests that a hypothetical Mediterranean market for electricity should be carefully regulated. - Highlights: ► An extensive use of Concentrated Solar Power (CSP) will be optimal after 2050. ► Trade of CSP electricity between MENA and Europe will start in 2050. ► CSP reduces greatly the option value of nuclear power and coal with CCS. ► Learning externalities motivate moderate subsidies for earlier CSP investments. ► MENA countries have the incentive to form a cartel to sell electricity to Europe

  1. The Mediating Effect of Innovation on the Relationship between Information Technology Investments and Firm Performance: An Empirical Study

    Science.gov (United States)

    Karanja, Erastus

    2011-01-01

    The last couple of decades has witnessed a plethora of research studies addressing the cause-and-effect relationship between Information Technology (IT) investments and performance at the firm level. These studies elicited mixed results between IT investments and performance which led to various points of view from IT Scholars and Practitioners.…

  2. Benefits of using an optimization methodology for identifying robust process integration investments under uncertainty-A pulp mill example

    International Nuclear Information System (INIS)

    Svensson, Elin; Berntsson, Thore; Stroemberg, Ann-Brith

    2009-01-01

    This paper presents a case study on the optimization of process integration investments in a pulp mill considering uncertainties in future electricity and biofuel prices and CO 2 emissions charges. The work follows the methodology described in Svensson et al. [Svensson, E., Berntsson, T., Stroemberg, A.-B., Patriksson, M., 2008b. An optimization methodology for identifying robust process integration investments under uncertainty. Energy Policy, in press, (doi:10.1016/j.enpol.2008.10.023)] where a scenario-based approach is proposed for the modelling of uncertainties. The results show that the proposed methodology provides a way to handle the time dependence and the uncertainties of the parameters. For the analyzed case, a robust solution is found which turns out to be a combination of two opposing investment strategies. The difference between short-term and strategic views for the investment decision is analyzed and it is found that uncertainties are increasingly important to account for as a more strategic view is employed. Furthermore, the results imply that the obvious effect of policy instruments aimed at decreasing CO 2 emissions is, in applications like this, an increased profitability for all energy efficiency investments, and not as much a shift between different alternatives

  3. Benefits of using an optimization methodology for identifying robust process integration investments under uncertainty-A pulp mill example

    Energy Technology Data Exchange (ETDEWEB)

    Svensson, Elin [Department of Energy and Environment, Division of Heat and Power Technology, Chalmers University of Technology, SE-412 96 Goeteborg (Sweden)], E-mail: elin.svensson@chalmers.se; Berntsson, Thore [Department of Energy and Environment, Division of Heat and Power Technology, Chalmers University of Technology, SE-412 96 Goeteborg (Sweden); Stroemberg, Ann-Brith [Fraunhofer-Chalmers Research Centre for Industrial Mathematics, Chalmers Science Park, SE-412 88 Gothenburg (Sweden)

    2009-03-15

    This paper presents a case study on the optimization of process integration investments in a pulp mill considering uncertainties in future electricity and biofuel prices and CO{sub 2} emissions charges. The work follows the methodology described in Svensson et al. [Svensson, E., Berntsson, T., Stroemberg, A.-B., Patriksson, M., 2008b. An optimization methodology for identifying robust process integration investments under uncertainty. Energy Policy, in press, (doi:10.1016/j.enpol.2008.10.023)] where a scenario-based approach is proposed for the modelling of uncertainties. The results show that the proposed methodology provides a way to handle the time dependence and the uncertainties of the parameters. For the analyzed case, a robust solution is found which turns out to be a combination of two opposing investment strategies. The difference between short-term and strategic views for the investment decision is analyzed and it is found that uncertainties are increasingly important to account for as a more strategic view is employed. Furthermore, the results imply that the obvious effect of policy instruments aimed at decreasing CO{sub 2} emissions is, in applications like this, an increased profitability for all energy efficiency investments, and not as much a shift between different alternatives.

  4. Benefits of using an optimization methodology for identifying robust process integration investments under uncertainty. A pulp mill example

    Energy Technology Data Exchange (ETDEWEB)

    Svensson, Elin; Berntsson, Thore [Department of Energy and Environment, Division of Heat and Power Technology, Chalmers University of Technology, SE-412 96 Goeteborg (Sweden); Stroemberg, Ann-Brith [Fraunhofer-Chalmers Research Centre for Industrial Mathematics, Chalmers Science Park, SE-412 88 Gothenburg (Sweden)

    2009-03-15

    This paper presents a case study on the optimization of process integration investments in a pulp mill considering uncertainties in future electricity and biofuel prices and CO{sub 2} emissions charges. The work follows the methodology described in Svensson et al. [Svensson, E., Berntsson, T., Stroemberg, A.-B., Patriksson, M., 2008b. An optimization methodology for identifying robust process integration investments under uncertainty. Energy Policy, in press, doi:10.1016/j.enpol.2008.10.023] where a scenario-based approach is proposed for the modelling of uncertainties. The results show that the proposed methodology provides a way to handle the time dependence and the uncertainties of the parameters. For the analyzed case, a robust solution is found which turns out to be a combination of two opposing investment strategies. The difference between short-term and strategic views for the investment decision is analyzed and it is found that uncertainties are increasingly important to account for as a more strategic view is employed. Furthermore, the results imply that the obvious effect of policy instruments aimed at decreasing CO{sub 2} emissions is, in applications like this, an increased profitability for all energy efficiency investments, and not as much a shift between different alternatives. (author)

  5. STRATEGIC EXERCISE OF REAL OPTIONS:INVESTMENT DECISIONS IN TECHNOLOGICAL SYSTEMS

    Institute of Scientific and Technical Information of China (English)

    Kevin ZHU; John WEYANT

    2003-01-01

    Viewing investment projects in new technologies as real options, this paper studies the effects of endogenous competition and asymmetric information on the strategic exercise of real options. We first develop a multi-period, game-theoretic model and show how competition leads to early exercise and aggressive investment behaviors and how competition erodes option values. We then relax the typical full-information assumption found in the literature and allow information asymmetry to exist across firms. Our model shows, in contrast to the literature that payoff is independent of the ordering of exercise, that the sequential exercise of real options may generate both informational and payoff externalities. We also find some surprising but interesting results such as having more information is not necessarily better.

  6. Investing in biogas: Timing, technological choice and the value of flexibility from input mix

    International Nuclear Information System (INIS)

    Di Corato, Luca; Moretto, Michele

    2011-01-01

    In a stochastic dynamic frame, we study the technology choice problem of a continuous co-digestion biogas plant where input factors are substitutes but need to be mixed together to provide output. Given any initial rule for the composition of the feedstock, we consider the possibility of revising it if economic circumstances make it profitable. Flexibility in the mix is an advantage under randomly fluctuating input costs and comes at a higher investment cost. We show that the degree of flexibility in the productive technology installed depends on the value of the option to profitably re-arrange the input mix. Such option adds value to the project in that it provides a device for hedging against fluctuations in the input relative convenience. Accounting for such value we discuss the trade-off between investment timing and profit smoothing flexibility. - Research highlights: ► We study the technology choice problem of a continuous co-digestion biogas plant where input factors are substitutes but need to be mixed together to provide output. ► We show that the degree of flexibility in the productive technology installed depends on the value of the option to profitably re-arrange the input mix. ► Such option adds value to the project in that it provides a device for hedging against fluctuations in the input relative convenience.

  7. Agreement Technologies for Energy Optimization at Home.

    Science.gov (United States)

    González-Briones, Alfonso; Chamoso, Pablo; De La Prieta, Fernando; Demazeau, Yves; Corchado, Juan M

    2018-05-19

    Nowadays, it is becoming increasingly common to deploy sensors in public buildings or homes with the aim of obtaining data from the environment and taking decisions that help to save energy. Many of the current state-of-the-art systems make decisions considering solely the environmental factors that cause the consumption of energy. These systems are successful at optimizing energy consumption; however, they do not adapt to the preferences of users and their comfort. Any system that is to be used by end-users should consider factors that affect their wellbeing. Thus, this article proposes an energy-saving system, which apart from considering the environmental conditions also adapts to the preferences of inhabitants. The architecture is based on a Multi-Agent System (MAS), its agents use Agreement Technologies (AT) to perform a negotiation process between the comfort preferences of the users and the degree of optimization that the system can achieve according to these preferences. A case study was conducted in an office building, showing that the proposed system achieved average energy savings of 17.15%.

  8. The Impact of Transaction Costs on Rebalancing an Investment Portfolio in Portfolio Optimization

    OpenAIRE

    B. Marasović; S. Pivac; S. V. Vukasović

    2015-01-01

    Constructing a portfolio of investments is one of the most significant financial decisions facing individuals and institutions. In accordance with the modern portfolio theory maximization of return at minimal risk should be the investment goal of any successful investor. In addition, the costs incurred when setting up a new portfolio or rebalancing an existing portfolio must be included in any realistic analysis. In this paper rebalancing an investment portfolio in the pr...

  9. Improving Energy Efficiency Through Technology. Trends, Investment Behaviour and Policy Design

    Energy Technology Data Exchange (ETDEWEB)

    Florax, R.J.G.M. [Purdue University, West Lafayette, IN (United States); De Groot, H.L.F. [VU University, Amsterdam (Netherlands); Mulder, P. [Tinbergen Institute, Amsterdam (Netherlands)] (eds.)

    2011-10-15

    This innovative book explores the adoption of energy-saving technologies and their impact on energy efficiency improvements. It contains a mix of theoretical and empirical contributions, and combines and compares economic and physical indicators to monitor and analyse trends in energy efficiency. The authors pay considerable attention to empirical research on the determinants of energy-saving investment including uncertainty, energy-price volatility and subsidies. They also discuss the role of energy modelling in policy design and the potential effect of energy policies on technology diffusion in energy-extensive sectors. Written from a multi-disciplinary perspective, this book will appeal to academics and graduates in the areas of energy-saving technologies, energy economics and natural resource economics, as well as policy makers - particularly those in energy policy.

  10. Investing in New Technology in Pulmonary Medicine: Navigating the Tortuous Path to Success.

    Science.gov (United States)

    Kruklitis, Robert; French, Kim; Cangelosi, Michael Joseph; Kovitz, Kevin L

    2017-09-01

    The introduction of new technologies offers the promise to advance medicine. This occurs alongside improved efforts to control costs of health care by hospital administrators, the Centers for Medicare & Medicaid Services' (CMS) pivot to value programs, and commercial payers' efforts to reduce reimbursement. These trends present a challenge for the pulmonologist, among others, who must navigate increasingly complex and highly scrutinized evaluation processes used to secure new technology (NT). Health-care providers are turning toward value assessments while simultaneously tasked with the mission of offering state of the art technologies and services. Pulmonologists desiring NT are thus faced with increased scrutiny in their evaluation of costs and clinical data to support investments. Consideration of this scrutiny and further evidence to temper the evaluation will improve the likelihood of adoption and patient access to clinically impactful technology. The identification of this evidence may provide a comprehensive view of the clinical and economic benefits of such technologies to both administrators and pulmonary clinicians. It is imperative that all parties involved in the decision process work collaboratively to deploy value added and clinically impactful technologies. Although a physician group might invest in such NT, the capital required often leads such decisions to a larger organization such as a hospital, health-care system, or privately owned entity. This article aims to provide a framework for pulmonary clinicians to better understand the processes that purchasers use to evaluate NT, the pressures that influence their consideration, and what resources may be leveraged toward success. Copyright © 2017 American College of Chest Physicians. Published by Elsevier Inc. All rights reserved.

  11. Technology investment fund : issues for consideration : issue paper for an expert workshop

    International Nuclear Information System (INIS)

    Drexhage, J.

    2006-12-01

    This document was prepared in advance of an expert workshop held to discuss technology investment funds (TIF) related to Canada's Clean Air Act. TIFs are being considered in the development of the Clean Air Act as a compliance option for air emissions regulations. Energy production is expected to dominate Canadian business in the future, and the domestic sector is undergoing a marked shift from conventional to unconventional sources such as oil sands, coalbed methane (CBM) and liquefied natural gas. Technological solutions are required to allow Canada to obtain the benefits of the country's natural resource wealth while reducing impacts to the environment. However, solutions will vary from region to region. The report examined issues related to financing research and demonstration programs. Research and development policies were discussed, as well as the role of the government in encouraging public and private partnerships. It was suggested that a portfolio of policy approaches will be required, as well as a compliance-based TIF designed to address a range of greenhouse gas (GHG) and air pollutants. Issues concerning rates of contributions and recognition for existing technology investments were also reviewed. Various taxes, levies, and funding approaches were outlined. It was concluded that a successful TIF will form part of an overall emissions trading framework.1 tab

  12. Life support technology investment strategies for flight programs: An application of decision analysis

    Science.gov (United States)

    Schlater, Nelson J.; Simonds, Charles H.; Ballin, Mark G.

    1993-01-01

    Applied research and technology development (R&TD) is often characterized by uncertainty, risk, and significant delays before tangible returns are obtained. Given the increased awareness of limitations in resources, effective R&TD today needs a method for up-front assessment of competing technologies to help guide technology investment decisions. Such an assessment approach must account for uncertainties in system performance parameters, mission requirements and architectures, and internal and external events influencing a development program. The methodology known as decision analysis has the potential to address these issues. It was evaluated by performing a case study assessment of alternative carbon dioxide removal technologies for NASA's proposed First Lunar Outpost program. An approach was developed that accounts for the uncertainties in each technology's cost and performance parameters as well as programmatic uncertainties such as mission architecture. Life cycle cost savings relative to a baseline, adjusted for the cost of money, was used as a figure of merit to evaluate each of the alternative carbon dioxide removal technology candidates. The methodology was found to provide a consistent decision-making strategy for development of new life support technology. The case study results provided insight that was not possible from more traditional analysis approaches.

  13. Guide for developing an information technology investment road map for population health management.

    Science.gov (United States)

    Hunt, Jacquelyn S; Gibson, Richard F; Whittington, John; Powell, Kitty; Wozney, Brad; Knudson, Susan

    2015-06-01

    Many health systems recovering from a massive investment in electronic health records are now faced with the prospect of maturing into accountable care organizations. This maturation includes the need to cooperate with new partners, involve substantially new data sources, require investment in additional information technology (IT) solutions, and become proficient in managing care from a new perspective. Adding to the confusion, there are hundreds of population health management (PHM) vendors with overlapping product functions. This article proposes an organized approach to investing in PHM IT. The steps include assessing the organization's business and clinical goals, establishing governance, agreeing on business requirements, evaluating the ability of current IT systems to meet those requirements, setting time lines and budgets, rationalizing current and future needs and capabilities, and installing the new systems in the context of a continuously learning organization. This article will help organizations chart their position on the population health readiness spectrum and enhance their chances for a successful transition from volume-based to value-based care.

  14. The effect of information technology investment on firm-level performance in the health care industry.

    Science.gov (United States)

    Thouin, Mark F; Hoffman, James J; Ford, Eric W

    2008-01-01

    The return on investment for information technology (IT) has been the subject of much debate throughout the history of management information systems research. Often referred to as the productivity paradox, increased IT investments have not been consistently associated with increased productivity. Understanding individual IT factors that directly contribute to business value should provide insight into the productivity paradox. The effects of 3 different firm-level IT characteristics on financial performance in the health care industry are studied. Specifically, the effects of IT budget, IT outsourcing, and the relative number of IT personnel on firm-level financial performance are analyzed. Regression analysis of archival survey data for 914 Integrated Healthcare Delivery Systems is performed. IT budgetary expenditures and the number of IT services outsourced are associated with increases in the profitability of Integrated Healthcare Delivery Systems, whereas increases in IT personnel are not significantly associated with increased profitability. Each one tenth of a percentage increase in IT expenditures is associated with approximately $100,000 in increased profit, and each additional IT service outsourced is associated with approximately $950,000 in increased profit for an average-sized Integrated Healthcare Delivery System. To increase profitability, IT administrators should increase IT budgetary expenditures along with IT outsourcing levels. IT administrators in the health care industry can use such findings during budgeting cycles to justify increased investments in IT personnel as being budget neutral while increasing organizational capacity.

  15. Essays on optimal hedging and investment strategies and on derivative pricing

    NARCIS (Netherlands)

    van den Goorbergh, R.W.J.

    2004-01-01

    This dissertation encompasses four essays on various topics within the field of finance. Chapter 1 presents an overview of the contributions of each essay. Chapter 2, titled Risk Aversion, Price Uncertainty, and Irreversible Investments, extends the theory of irreversible investment under

  16. Effects of a Capital Investment and a Discount Rate on the Optimal Operational Duration of an HLW Repository

    International Nuclear Information System (INIS)

    Kim, Sung Ki; Lee, Min Soo; Choi, Heui Joo; Choi, Jong Won

    2008-01-01

    This study aims to estimate the effects of a capital investment and a discount rate on the optimal operational duration of an HLW repository. According to the previous researches of the KRS(Korea Reference System) for an HLW repository, the amounts of 7,068,200 C$K and 2,636.2 MEUR are necessary to construct and operate surface and underground facilities. Since these huge costs can be a burden to some national economies, a study for a cost optimization should be performed. So we aim to drive the dominant cost driver for an optimal operational duration. A longer operational duration may be needed to dispose of more spent fuels continuously from a nuclear power plant, or to attain a retrievability of an HLW repository at a depth of 500 m below the ground level in a stable plutonic rock body. In this sense, an extended operational duration for an HLW repository affects the overall disposal costs of a repository. In this paper, only the influence of a capital investment and a discount rate was estimated from the view of optimized economics. Because these effects must be significant factors to minimize the overall disposal costs based on minimizing the sum of operational costs and capital investments

  17. A case for Sandia investment in complex adaptive systems science and technology.

    Energy Technology Data Exchange (ETDEWEB)

    Colbaugh, Richard; Tsao, Jeffrey Yeenien; Johnson, Curtis Martin; Backus, George A.; Brown, Theresa Jean; Jones, Katherine A.

    2012-05-01

    This white paper makes a case for Sandia National Laboratories investments in complex adaptive systems science and technology (S&T) -- investments that could enable higher-value-added and more-robustly-engineered solutions to challenges of importance to Sandia's national security mission and to the nation. Complex adaptive systems are ubiquitous in Sandia's national security mission areas. We often ignore the adaptive complexity of these systems by narrowing our 'aperture of concern' to systems or subsystems with a limited range of function exposed to a limited range of environments over limited periods of time. But by widening our aperture of concern we could increase our impact considerably. To do so, the science and technology of complex adaptive systems must mature considerably. Despite an explosion of interest outside of Sandia, however, that science and technology is still in its youth. What has been missing is contact with real (rather than model) systems and real domain-area detail. With its center-of-gravity as an engineering laboratory, Sandia's has made considerable progress applying existing science and technology to real complex adaptive systems. It has focused much less, however, on advancing the science and technology itself. But its close contact with real systems and real domain-area detail represents a powerful strength with which to help complex adaptive systems science and technology mature. Sandia is thus both a prime beneficiary of, as well as potentially a prime contributor to, complex adaptive systems science and technology. Building a productive program in complex adaptive systems science and technology at Sandia will not be trivial, but a credible path can be envisioned: in the short run, continue to apply existing science and technology to real domain-area complex adaptive systems; in the medium run, jump-start the creation of new science and technology capability through Sandia's Laboratory Directed Research

  18. GROWTH AND VENTURE CAPITAL INVESTMENT IN TECHNOLOGY-BASED SMALL FIRMS THE CASE OF HUNGARY

    Directory of Open Access Journals (Sweden)

    Becsky Nagy Patricia

    2014-07-01

    Full Text Available Venture capital backed enterprises represent a low proportion of companies, even of innovative ones. The research question was, whether these companies have an important role in innovation and economic growth in Hungary compared to other countries. In the first part of the article I present the theoretical background of technology-based small firms, highlighting the most important models and theories of the economic impact and the special development of innovative technology-oriented small firms. In the second part of the article I present the status of the most important indicators of innovation in connection with entrepreneurship, than I elaborate on the measures of start-ups, mainly the high-tech ones with high-growth potential. I describe the current position of venture capital industry, detailing the venture capital investments, with particular emphasis on classical venture capital investments that points out the number and the amount of venture capital investments financing early stage firms with high-growth potential. At the end I summarize the status of Hungarian technology-based small firms and their possibilities to get financial sources form venture capital investors, with regards to the status and the prospects of the JEREMIE program. In Hungary the number of internationally competitive firms, ready and willing to obtain venture capital, is much lower than in the US or Western European countries. Hungary could take advantage of its competitive edges in some special fields of innovation. The efficiency of information flow would reduce the information gap between the demand and the supply side of the venture capital market and more Hungarian firms could be internationally successful through venture capital financing. The recent years’ policy and special programs like JEREMIE generated more transactions, that helped to inform the entrepreneurs about venture capital and helped to co-invest public resources with private equity more

  19. Investment, replacement and scrapping in a vintage capital model with embodied technological change

    OpenAIRE

    Bitros, George C.; Hritonenko, Natali; Yatsenko, Yuri

    2007-01-01

    This paper analyzes and compares two alternative policies of determining the service life and replacement demand for vintage equipment under embodied technological change. The policies are the infinite-horizon replacement and the transitory replacement ending with scrapping. The corresponding vintage capital models are formulated in the dynamic optimization framework. These two approaches lead to different estimates of the duration of replacements and the impact of technological change on the...

  20. Decoding the IT value problem an executive guide for achieving optimal ROI on critical IT investments

    CERN Document Server

    Fell, Gregory J

    2013-01-01

    Gain greater returns from your IT investments Revealing the secrets to proven, effective strategies that enable businesses to leverage the full value of highly expensive IT investments, Decoding the IT Value Problem is a no-nonsense guide for making smart IT investments and cutting through the noise of vendor marketing and media hype. Author Gregory Fell describes in rich detail the actual processes, frameworks, infrastructure and discipline required to develop and execute corporate IT strategies that areprofitable and sustainable.Provides a proven framework for develop

  1. Information Technology Management: Reporting of DoD Capital Investments for Information Technology in Support of the FY 2006 Budget Submission

    National Research Council Canada - National Science Library

    Truex, Kathryn M; Shaffer, Robert L; Leighton, George A; Johnson, Robert R; Brunetti, Tina N; Courtade, Rebecca S; Woodruff, Courtney E; Buscaigio, James J; Gavura, Cindy L

    2005-01-01

    Who Should Read This Report and Why? DoD managers preparing and certifying capital investment justifications for information technology should read this report to improve the quality of data being submitted by the Department of Defense...

  2. Artificial intelligence and exponential technologies business models evolution and new investment opportunities

    CERN Document Server

    Corea, Francesco

    2017-01-01

    Artificial Intelligence is a huge breakthrough technology that is changing our world. It requires some degrees of technical skills to be developed and understood, so in this book we are going to first of all define AI and categorize it with a non-technical language. We will explain how we reached this phase and what historically happened to artificial intelligence in the last century. Recent advancements in machine learning, neuroscience, and artificial intelligence technology will be addressed, and new business models introduced for and by artificial intelligence research will be analyzed. Finally, we will describe the investment landscape, through the quite comprehensive study of almost 14,000 AI companies and we will discuss important features and characteristics of both AI investors as well as investments. This is the “Internet of Thinks” era. AI is revolutionizing the world we live in. It is augmenting the human experiences, and it targets to amplify human intelligence in a future not so distant from...

  3. Assessment of the possibility of utilisation of used ceramic moulds originated from the investment casting technology

    Directory of Open Access Journals (Sweden)

    M. Holtzer

    2009-04-01

    Full Text Available Review of wastes generated by investment casting technology and discussion on possibilities of disposal of the largest quantity waste from this technology - used ceramic mould is presented in the paper. Preliminary examinations of disintegration process of used ceramic mould conducted in various testing conditions were performed in the frame of presented research. Applied system of disintegration doesn’twarrant obtained material to be suitable for reuse in production of ceramic moulds. Investigations of the inter-phase boundary: ceramicmould-casting were performed to examine environmental harmfulness of used ceramic moulds. Additionally ecologic assessment of spentmoulds by means of it’s elution in the aspect of qualifying possibilities of it’s disposal were performed. Gained results qualify the waste from ceramic mould to storage in deposits for neutral wastes.

  4. Strategic Energy Resource Investment Optimization for the US Army (Serious - A). Appendix D

    National Research Council Canada - National Science Library

    Anker, David

    2004-01-01

    The main analytical tool in the SERIOUS-A project for determining investment strategies for providing electrical power to critical mission facilities at an installation by distributed generation (DG...

  5. Roadmapping or development of future investments in environmental science and technology

    Energy Technology Data Exchange (ETDEWEB)

    Wilburn, D. (Dianne)

    2002-01-01

    priorities for future program planning and development of future investments in environmental science and technology, which would reduce risk by delivering additional data and technologies with possible incremental improvement to baselines.

  6. Foreign direct investment and technology spillovers in Mexico: 20 years of NAFTA

    Directory of Open Access Journals (Sweden)

    Enrique Armas

    2017-10-01

    Full Text Available This article analyses the development of technology capabilities in the manufacturing sector of Mexico during the last two decades. It has been argued that the inclusion of Mexico in the North America Free Trade Agreement (NAFTA in 1994 would be enough to catch up with Canada and the United States. In this regard, trade liberalisation and foreign direct investment (FDI would have been two strategic tools to close the technology gap between Mexico and its commercial partners in North America. Yet, after twenty years of NAFTA, it has been demonstrated that many indigenous firms in Mexico must develop an absorptive capacity to benefit from FDI. This paper suggests that the debate on the Asian miracle in the 1990s could be an adequate theoretical framework to discuss technology development and industrialisation in the case of emerging economies. In fact, this debate reveals two alternative approaches to explain the development of technology capabilities: (i the accumulation view of growth, and (ii the assimilation view of growth. Therefore, the Asian miracle exemplifies how entrepreneurship, learning and a supporting innovation policy could be an adequate strategy to benefit from FDI and technology spillovers in the case of emerging economies.

  7. Mechanisms for efficient investments and optimal zones in regional power market

    Directory of Open Access Journals (Sweden)

    Andročec Ivan

    2014-01-01

    Full Text Available The paper is result of research different cross-border electricity trading mechanisms impact. Focus is on investments in generation and transmission power system facilities in regional market. Assumptions include efficient market coupling mechanism (with more bidding zones, use of additional investment indicators (like social welfare and congestion cost and security of supply issues (capacity mechanisms. There is discussion on cost benefits analysis for particular market participants and there is possibility of risk reduction for regional power system expansion. It is shown current state-of-the-art, problems and trends in solving some aspects of market integration and investment issues. In some cases smaller and well defined bidding areas are absolutely essential in order to ensure system security and economic efficiency. There is no single criterion for power system expansion but it is possible to use combination of incentive schemes and possible through one index for cross-border trade. Risk management for cross-border electricity trading through several areas needs to be upgraded with use of financial transmission rights like weighted average area prices, respectively. Regional power system security is closely associated with timely investments in energy supply in line with economic development and environmental needs. Security of supply indicator is deriving an estimation of security of supply improvement from the market based simulation results when a generation or transmission investment project is implemented. All researched makes market integration and investments in Europe more efficient and gives more correct signals to market participants in regional market.

  8. Cap-and-trade policy: The influence on investments in carbon dioxide reducing technologies in Indiana

    Science.gov (United States)

    Fahie, Monique

    With most of the energy produced in the state of Indiana coming from coal, the implementation of policy instruments such as cap-and-trade, which is included in the most recent climate bill, will have significant effects. This thesis provides an analysis of the effects that a cap-and-trade policy might have on the investment decisions for alternative technologies in the power plant sector in Indiana. Two economic models of representative coal-fired power plants, Gallagher (600MW) and Rockport (2600MW), are selected and used to evaluate the repowering decision of a plant for several technologies: integrated gasification combined cycle (IGCC), wind farm combined with natural gas combined cycle (NGCC) and supercritical pulverized coal (SCPC). The firm will make its decisions based on the net present value (NPV) of cost estimates for these CO2 reducing technologies, the cost of purchasing offsets and CO 2 allowances. This model is applied to a base case and three American Clean Energy and Security Act of 2009 cases derived from the Energy Information Administration (EIA, 2009b). A sensitivity analysis is done on the discount rate and capital costs. The results of the study indicate that a SCPC plant without carbon capture and storage (CCS) is the least costly compliance option for both plants under all of the cases while retrofitting the existing plant with CCS is the most expensive. Gallagher's three least expensive options across most scenarios were SCPC without CCS, the operation of the existing plant as is and investment in wind plus NGCC. Rockport's three least expensive compliance options across most scenarios were SCPC without CCS, the operation of the existing plant as is and IGCC without CCS. For both plants, when a 12% discount rate is utilized, NPV of costs are generally lower and the operation of the existing plant technology with the aid of allowances and offsets to be in compliance is the cheapest option. If capital costs were to decrease by 30%, a SCPC

  9. Optimal Time-Consistent Investment Strategy for a DC Pension Plan with the Return of Premiums Clauses and Annuity Contracts

    Directory of Open Access Journals (Sweden)

    De-Lei Sheng

    2014-01-01

    Full Text Available Defined contribution and annuity contract are merged into one pension plan to study both accumulation phase and distribution phase, which results in such effects that both phases before and after retirement being “defined”. Under the Heston’s stochastic volatility model, this paper focuses on mean-variance insurers with the return of premiums clauses to study the optimal time-consistent investment strategy for the DC pension merged with an annuity contract. Both accumulation phase before retirement and distribution phase after retirement are studied. In the time-consistent framework, the extended Hamilton-Jacobi-Bellman equations associated with the optimization problem are established. Applying stochastic optimal control technique, the time-consistent explicit solutions of the optimal strategies and the efficient frontiers are obtained. In addition, numerical analysis illustrates our results and also deepens our knowledge or understanding of the research results.

  10. Evaluation on Optimal Scale of Rural Fixed-asset Investment – Based on Microcosmic Perspective of Farmers’ Income Increase

    OpenAIRE

    DENG, Jinqian; SHAN, Kangkang; ZHANG, Yan

    2014-01-01

    The rural fundamental and productive fixed-asset investment not only makes active influence on the changes of farmers’ operational, wages and property income, but it also has an optimal scale range for farmers’ income increase. From the perspective of farmers’ income increase, this article evaluates the optimal scale of rural fixed-asset investment by setting up model with statistic data, and the results show that the optimal scale of per capita rural fixed-asset investment is 76.35% of...

  11. Understanding Information Technology Investment Decision-Making in the Context of Hotel Global Distribution Systems: a Multiple-Case Study

    OpenAIRE

    Connolly, Daniel J.

    1999-01-01

    UNDERSTANDING INFORMATION TECHNOLOGY INVESTMENT DECISION-MAKING IN THE CONTEXT OF HOTEL GLOBAL DISTRIBUTION SYSTEMS: A MULTIPLE-CASE STUDY by Daniel J. Connolly Dr. Michael D. Olsen, Chair Department of Hospitality and Tourism Management ABSTRACT This study investigates what three large, multinational hospitality companies do in practice when evaluating and making IT investment decisions. This study was launched in an attempt to 1) learn more about ...

  12. Nexus between Information and Communication Technology, Financial Intermediation, and Household Investment: A Review

    Directory of Open Access Journals (Sweden)

    Richard M. Kiai

    2017-06-01

    Full Text Available Financial inclusion has been recognized as a poverty reduction tool, and many economies have taken it up as a national agenda. To achieve the expected levels of financial inclusion, governments have worked with financial intermediaries to reach the expected target group, the unbanked poor. As per the financial intermediation theory, the role of financial intermediaries is to minimize the information asymmetry in the financial system. To enhance financial inclusion, many countries and financial institutions have embraced information and communication technology (ICT. ICT has been recognized as a tool that has worked greatly toward enhancing sharing of information at a low cost and that has thus helped in improving financial inclusion. Though many countries have achieved high levels of financial inclusion through ICT, the levels of poverty have not declined. It was thus important to establish the relationship between ICT, financial intermediation, and household investment. This study methodology was a review of the literature on financial inclusion, financial intermediation, ICT, and household investment. From this study, it was noted that ICT is helping in financial intermediation and thus more people can access financial services. Unfortunately, the levels of ICT capability among the poor are low, and in that case, the poor are not able to utilize financial services offered through ICT platforms to undertake household investment. This is the reason as to why, despite the high levels of financial inclusion, the poor still remain poor. This study recommends that the government should ensure that the levels of ICT among the populace are high. Financial institutions on the other hand should provide financial services with more user-friendly platforms.

  13. Potential Opportunities for Investment in Space Technologies in Latin-America: a Case for Mexico

    Science.gov (United States)

    Sanchez, G.

    2002-01-01

    Student, Master of Space Studies. International Space University. Strasbourg Central The objective of this paper is to analyze the possible commercial benefits that the global manufacturing space industry could obtain by investing in Latin-American countries. Spacecraft manufacturers have recently been complaining about small margins. They claim that customers demand technological advancement at the same time as they push for quick delivery and competitive prices. They also argue that operators (their main customers) do have great profits. Thus, manufacturers would like to raise the prices of their spacecraft (SpaceNews. January 7, 2002. P.17). This may sound logical, but it would be interesting to analyze if the industry could find alternative ways of saving money while remaining competitive. Mexico is a good example of a Latin-American country that has received foreign investment for establishing manufacturing and assembly plants for different industries. This has been mainly due to two special characteristics of the Mexican manufacturing workforce: low labor costs and qualified, reliable human resources. As a result, Mexican manufacturing industry has acquired a solid reputation worldwide. A similar story can be told about other industries such as electronics, computer assembly, clothes, etc. It is probably worth to make an analogy with a labor-demanding industry that already has experience in the Mexican market: the car industry has found a formula to keep manufacturing costs low while maintaining production and quality levels. Mexico currently manufactures and assembles cars for European, Japanese and American companies for the international market. If the same success story could be repeated for the spacecraft manufacturing industry, the benefits would be enormous. Manufacturers could consider relocating their plants to Mexico to manufacture and test parts or entire spacecraft. This would help reduce the cost of human labor, especially because of the long

  14. Effect of Green Technology Investment on a Production-Inventory System with Carbon Tax

    Directory of Open Access Journals (Sweden)

    Tapan Kumar Datta

    2017-01-01

    Full Text Available Carbon emissions play the central role in global warming. Manufacturing firms are significant contributors to carbon emissions. In many countries, regulatory authorities are taking actions to reduce emissions. Carbon taxation and cap-and-trade schemes are two mechanisms implemented in many countries. In the present paper, the author analyzes a production-inventory model under a carbon tax system. The production rate is assumed to be a decision variable and can be set at any level within machine limits. A proportion of items produced are defective, and this proportion depends on the production rate. Demand depends on the selling price. Unit price is a decreasing function of the production rate. Emissions can be reduced to some extent by capital investment on green technology, and this capital investment amount is a decision variable. Customers are categorized as retail customers and wholesale customers. A discount is offered to the wholesale customers on the regular selling price. The results are illustrated by a numerical example and a sensitivity analysis is performed.

  15. Joint Small Arms Technology Development Strategy for Joint Service Small Arms Science and Technology Investments

    Science.gov (United States)

    2016-01-26

    reduction efforts that need to be led by the Joint Services include One Way Luminescence, where the improvement in hit goes up for the follow on shots...new technology would enable spectral segment defeat, ranging from ultraviolet ( UV ), visible, Infrared (IR), radar, and radio and any combinations...program of work as directed via the Land Armaments Management Plan ( LAMP ) and advise the NAAG on systems and equipment aspects of dismounted operations

  16. Optimization of Grooved Micromixer for Microengineering Technologies

    DEFF Research Database (Denmark)

    Sabotin, I.; Tristo, G.; Bissacco, Giuliano

    2013-01-01

    Due to the absence of turbulent flow and the slow diffusion process, mixing of solutions at micro-scale is a difficult task. This paper describes the optimization route towards the efficient design of a bottom grooved micromixer. Based on thoroughly discussed mixing mechanisms, the optimization w...

  17. Valuation of clean energy investments: The case of the Zero Emission Coal (ZEC) technology

    Science.gov (United States)

    Yeboah, Frank Ernest

    Today, coal-fired power plants produce about 55% of the electrical energy output in the U.S. Demand for electricity is expected to grow in future. Coal can and will continue to play a substantial role in the future global energy supply, despite its high emission of greenhouse gases (e.g. CO2 etc.) and low thermal energy conversion efficiency of about 37%. This is due to the fact that, it is inexpensive and global reserves are abundant. Furthermore, cost competitive and environmentally acceptable energy alternatives are lacking. New technologies could also make coal-fired plants more efficient and environmentally benign. One such technology is the Zero Emission Carbon (ZEC) power plant, which is currently being proposed by the ZECA Corporation. How much will such a technology cost? How competitive will it be in the electric energy market when used as a technology for mitigating CO2 emission? If there were regulatory mechanisms, such as carbon tax to regulate CO2 emission, what would be the minimum carbon tax that should be imposed? How will changes in energy policy affect the implementation of the ZEC technology? How will the cost of the ZEC technology be affected, if a switch from coal (high emission-intensive fuel) to natural gas (low emission-intensive fuel) were to be made? This work introduces a model that can be used to analyze and assess the economic value of a ZEC investment using valuation techniques employed in the electric energy industry such as revenue requirement (e.g. cost-of-service). The study concludes that the cost of service for ZEC technology will be about 95/MWh at the current baseline scenario of using fuel cell as the power generation system and coal as the primary fuel, and hence will not be competitive in the energy markets. For the technology to be competitive, fuel cell capital cost should be as low as 500/kW with a lifetime of 20 years or more, the cost of capital should be around 10%, and a carbon tax of 30/t of CO2 should be in place

  18. The Role of Technology, Investment and Ownership Structure in the Productivity Performance of the Manufacturing Sector in Vietnam

    DEFF Research Database (Denmark)

    Newman, Carol; Narciso, Gaia; Tarp, Finn

    2009-01-01

    . The empirical analysis reveals investment and technology usage as important determinants of enterprise productivity levels. Specifically, higher levels of productivity are found in foreign- and state-owned enterprises, driven almost entirely by higher levels of investment and technology usage. Our results...... in almost all sectors and that for many sectors the dispersion in productivity is declining over time. However, for the most productive sectors the gap is widening suggesting that productivity is being driven by the most productive enterprises getting better, leaving the least productive behind...

  19. Encouraging private sector investment in climatefriendly technologies in developing countries. An assessment of policy options for the Dutch government

    International Nuclear Information System (INIS)

    Van Rooijen, S.N.M.; Van Wees, M.T.

    2006-10-01

    This study aims to explore new or reformed policies to be adopted by the Dutch government to encourage private sector investments in climate-friendly technologies in developing countries. A literature review of barriers to climate-friendly investments and of directions for solutions has been complemented with a number of in-depth interviews with stakeholders representing the major actors involved in investment projects (project sponsors, financing institutions, institutional investors and government). The barrier analysis has resulted in the following list of key obstacles to climate-friendly investments: (1) Lack of a sound, transparent and stable enabling environment for investing in developing countries; (2) Shortage of experienced and creditworthy sponsors; (3) High specific project risks; (4) Overestimation investment risks related to (sustainable) investments in developing countries in general (risk perspective); (5) Additional costs of climate-friendly technologies; (6) Shortage of risk capital; (7) Insufficient guarantee mechanisms; (8) Lack of know-how on public-private partnership structures and on financial design; and (9) Lack of insight how corporate social responsibility can be operationalised. Four main gaps have been identified on the basis of an assessment of current Dutch policies and instruments: (1) Shortage of instruments to directly promote investments; (2) Underdeveloped guarantee instruments; (3) Too restrictive cap on project size in financial schemes; (4) Lack of support in operationalising the concept of corporate social responsibility. Four areas for new or intensified policies have been identified based on the barrier and gap analysis: (1) Direct promotion of (potentially large scale) investments, including: (a) Supporting (the establishment of) sponsor companies developing sustainable energy projects in developing countries; (b) Making risk capital available; (c) Creating investment credit facilities; (d) Making development capital in

  20. Essays in Investment Theory

    International Nuclear Information System (INIS)

    Bobtcheff, C.

    2006-01-01

    This thesis analyzes different aspects of the investment decision. In the first chapter, we consider an economy in which different energy sources may produce electricity. The model focuses first on the optimal use of a hydroelectric dam from which water can be extracted and which is supplied with a random water flow. The presence of constraints on a minimal and on a maximal storage capacity makes electricity consumption smoothing possible only when the quantity of water available to the agent lies in a certain range that we determine. In a second stage, we introduce a second energy source with unlimited supply at some exogenous cost. The marginal propensity to produce hydroelectricity is an increasing function of the second technology cost. The availability at a low cost of the alternative source improves thus time diversification. Finally, the optimal electric park is composed of a number of dams that is increasing with the cost of the second technology. Chapter 2 studies the decision of an investor who wants to undertake an irreversible investment when he has the choice between two mutually exclusive projects that present input price and/or output price uncertainty. We prove that the investor decides not to invest in any project when each investment generates the same payoff independently of its size. Therefore, some inaction region appears in which the investor prefers not to invest whereas an immediate investment would have been optimal if no choice had been available: a 'choice value' is thus created. A key feature of this bidimensional degree of uncertainty is thus that the payoff generated by each project is not a sufficient statistic to make a rational investment. In this context, our analysis provides a new motive for waiting to invest: the benefits associated with the dominance of one project over the other. In chapter 3, we study the investment decision problem of a duo-poly with price competition on a market of finite size driven by stochastic taste

  1. R & D STRATEGIC INVESTMENT IN AN ASYMMETRICAL CASE

    Institute of Scientific and Technical Information of China (English)

    Minggao XUE; Pu GONG

    2006-01-01

    This article analyzes R & D investment decisions in an asymmetrical case. The investment decisions share three important characteristics. First, the investment is completely irreversible. Second,there are two kinds of uncertainties over the future returns from the investment and over technology in R & D process, respectively. Third, there is strategic competition in the asymmetrical case. This article presents the optimal investment threshold values and the optimal investment rule of high-efficient firm (leader), and shows that the investment threshold values are reduced by competition of two firms.Finally, the mixed investment strategies for two firms, the probability that each firm separately exercises the option to invest, and the probability that two firms simultaneously exercise the option are given in the paper.

  2. Breaking up is hard to do: why disinvestment in medical technology is harder than investment.

    Science.gov (United States)

    Haas, Marion; Hall, Jane; Viney, Rosalie; Gallego, Gisselle

    2012-05-01

    Healthcare technology is a two-edged sword - it offers new and better treatment to a wider range of people and, at the same time, is a major driver of increasing costs in health systems. Many countries have developed sophisticated systems of health technology assessment (HTA) to inform decisions about new investments in new healthcare interventions. In this paper, we question whether HTA is also the appropriate framework for guiding or informing disinvestment decisions. In exploring the issues related to disinvestment, we first discuss the various HTA frameworks which have been suggested as a means of encouraging or facilitating disinvestment. We then describe available means of identifying candidates for disinvestment (comparative effectiveness research, clinical practice variations, clinical practice guidelines) and for implementing the disinvestment process (program budgeting and marginal analysis (PBMA) and related techniques). In considering the possible reasons for the lack of progress in active disinvestment, we suggest that HTA is not the right framework as disinvestment involves a different decision making context. The key to disinvestment is not just what to stop doing but how to make it happen - that is, decision makers need to be aware of funding disincentives.

  3. Environmental Regulation, Foreign Direct Investment and Green Technological Progress—Evidence from Chinese Manufacturing Industries

    Science.gov (United States)

    Hu, Jiangfeng; Wang, Zhao; Lian, Yuehan; Huang, Qinghua

    2018-01-01

    This study examines the spillover effects of foreign direct investment (FDI) on green technology progress rate (as measured by the green total factor productivity). The analysis utilizes two measures of FDI, labor-based FDI and capital-based FDI, and separately investigates four sets of industry classifications—high/low discharge regulation and high/low emission standard regulation. The results indicate that in the low discharge regulation and low emission standard regulation industry, labor-based FDI has a significant negative spillover effect, and capital-based FDI has a significant positive spillover effect. However, in the high-intensity environmental regulation industry, the negative influence of labor-based FDI is completely restrained, and capital-based FDI continues to play a significant positive green technological spillover effects. These findings have clear policy implications: the government should be gradually reducing the labor-based FDI inflow or increasing stringency of environmental regulation in order to reduce or eliminate the negative spillover effect of the labor-based FDI. PMID:29382112

  4. Environmental Regulation, Foreign Direct Investment and Green Technological Progress—Evidence from Chinese Manufacturing Industries

    Directory of Open Access Journals (Sweden)

    Jiangfeng Hu

    2018-01-01

    Full Text Available This study examines the spillover effects of foreign direct investment (FDI on green technology progress rate (as measured by the green total factor productivity. The analysis utilizes two measures of FDI, labor-based FDI and capital-based FDI, and separately investigates four sets of industry classifications—high/low discharge regulation and high/low emission standard regulation. The results indicate that in the low discharge regulation and low emission standard regulation industry, labor-based FDI has a significant negative spillover effect, and capital-based FDI has a significant positive spillover effect. However, in the high-intensity environmental regulation industry, the negative influence of labor-based FDI is completely restrained, and capital-based FDI continues to play a significant positive green technological spillover effects. These findings have clear policy implications: the government should be gradually reducing the labor-based FDI inflow or increasing stringency of environmental regulation in order to reduce or eliminate the negative spillover effect of the labor-based FDI.

  5. Environmental Regulation, Foreign Direct Investment and Green Technological Progress-Evidence from Chinese Manufacturing Industries.

    Science.gov (United States)

    Hu, Jiangfeng; Wang, Zhao; Lian, Yuehan; Huang, Qinghua

    2018-01-29

    This study examines the spillover effects of foreign direct investment (FDI) on green technology progress rate (as measured by the green total factor productivity). The analysis utilizes two measures of FDI, labor-based FDI and capital-based FDI, and separately investigates four sets of industry classifications-high/low discharge regulation and high/low emission standard regulation. The results indicate that in the low discharge regulation and low emission standard regulation industry, labor-based FDI has a significant negative spillover effect, and capital-based FDI has a significant positive spillover effect. However, in the high-intensity environmental regulation industry, the negative influence of labor-based FDI is completely restrained, and capital-based FDI continues to play a significant positive green technological spillover effects. These findings have clear policy implications: the government should be gradually reducing the labor-based FDI inflow or increasing stringency of environmental regulation in order to reduce or eliminate the negative spillover effect of the labor-based FDI.

  6. Lyndon B. Johnson Space Center (JSC) proposed dual-use technology investment program in intelligent robots

    Science.gov (United States)

    Erikson, Jon D.

    1994-01-01

    This paper presents an overview of the proposed Lyndon B. Johnson Space Center (JSC) precompetitive, dual-use technology investment project in robotics. New robotic technology in advanced robots, which can recognize and respond to their environments and to spoken human supervision so as to perform a variety of combined mobility and manipulation tasks in various sectors, is an obejective of this work. In the U.S. economy, such robots offer the benefits of improved global competitiveness in a critical industrial sector; improved productivity by the end users of these robots; a growing robotics industry that produces jobs and profits; lower cost health care delivery with quality improvements; and, as these 'intelligent' robots become acceptable throughout society, an increase in the standard of living for everyone. In space, such robots will provide improved safety, reliability, and productivity as Space Station evolves, and will enable human space exploration (by human/robot teams). The proposed effort consists of partnerships between manufacturers, universities, and JSC to develop working production prototypes of these robots by leveraging current development by both sides. Currently targeted applications are in the manufacturing, health care, services, and construction sectors of the U.S. economy and in the inspection, servicing, maintenance, and repair aspects of space exploration. But the focus is on the generic software architecture and standardized interfaces for custom modules tailored for the various applications allowing end users to customize a robot as PC users customize PC's. Production prototypes would be completed in 5 years under this proposal.

  7. Optimization of processing technology of Rhizoma Pinelliae ...

    African Journals Online (AJOL)

    soaking time and processing temperature on processing technology of Rhizoma ... Results: During the processing of Rhizoma Pinelliae Praeparatum, the size of influence of licorice .... Table 1: Factors and levels of orthogonal experiment.

  8. The deformation of wax patterns and castings in investment casting technology

    Directory of Open Access Journals (Sweden)

    A. Herman

    2012-01-01

    Full Text Available The dimensional accuracy of the final casting of Inconel alloy 738 LC is affected by many aspects. One of them is the choice of method and time of cooling wax model for precision investment casting. The main objective was to study the initial deformation of the complex shape of the casting of the rotor blades. Various approaches have been tested for cooling wax pattern. When wax models are cooling on the air, without clamping in jig for cooling, deviations from the ideal shape of the casting are very noticeable (up to 8 mm and most are in extreme positions of the model. When blade is cooled in fixing jig in water environment, the resulting deviations compared with cooling in air are significantly larger, sometimes up to 10 mm. This itself does not mean that the final shape of the casting is dimensionally more accurate with usage of wax models, which have deviations from the ideal position smaller. Another deformation occurs when shell mould is produced around wax pattern and furthermore deformations emerge while casting of blade is cooling. This paper demonstrates first steps in describing complex process of deformations of Inconel alloy blades produced with investment casting technology by comparing results from thermal imagery, simulations in foundry simulation software ProCAST 2010 and measurements from CNC scanning system Carl Zeiss MC 850. Conclusions are so far not groundbreaking, but it seems deformations of wax pattern and deformations of castings do in some cases cancel each other by having opposite directions. Describing entirely whole process of deformations will help increase precision of blade castings so that models at the beginning and blades in the end are the same.

  9. A System Dynamics Analysis of Investment, Technology and Policy that Affect Natural Gas Exploration and Exploitation in China

    Directory of Open Access Journals (Sweden)

    Jianzhong Xiao

    2017-01-01

    Full Text Available Natural gas has an increasing role in Chinese energy transformation. We present a system dynamics model of the natural gas industry in China. A new system dynamics model for natural gas companies based on reserve exploration and well construction as well as investment dynamics is proposed. The contribution of the paper is to analyze the influence of technology, investment and policy factors on the natural gas industry. We found that the dynamics of the main variables, including gas policy, cost of investment, accounting depreciation and exploitation technology, are sensitive to the sustainable development of resources. The simulations and results presented here will be helpful for government to reform policies, and for upstream companies to make decisions.

  10. Distributed Energy Resources On-Site Optimization for Commercial Buildings with Electric and Thermal Storage Technologies

    International Nuclear Information System (INIS)

    Lacommare, Kristina S H; Stadler, Michael; Aki, Hirohisa; Firestone, Ryan; Lai, Judy; Marnay, Chris; Siddiqui, Afzal

    2008-01-01

    The addition of storage technologies such as flow batteries, conventional batteries, and heat storage can improve the economic as well as environmental attractiveness of on-site generation (e.g., PV, fuel cells, reciprocating engines or microturbines operating with or without CHP) and contribute to enhanced demand response. In order to examine the impact of storage technologies on demand response and carbon emissions, a microgrid's distributed energy resources (DER) adoption problem is formulated as a mixed-integer linear program that has the minimization of annual energy costs as its objective function. By implementing this approach in the General Algebraic Modeling System (GAMS), the problem is solved for a given test year at representative customer sites, such as schools and nursing homes, to obtain not only the level of technology investment, but also the optimal hourly operating schedules. This paper focuses on analysis of storage technologies in DER optimization on a building level, with example applications for commercial buildings. Preliminary analysis indicates that storage technologies respond effectively to time-varying electricity prices, i.e., by charging batteries during periods of low electricity prices and discharging them during peak hours. The results also indicate that storage technologies significantly alter the residual load profile, which can contribute to lower carbon emissions depending on the test site, its load profile, and its adopted DER technologies

  11. Continuous nonlinear optimization for engineering applications in GAMS technology

    CERN Document Server

    Andrei, Neculai

    2017-01-01

    This book presents the theoretical details and computational performances of algorithms used for solving continuous nonlinear optimization applications imbedded in GAMS. Aimed toward scientists and graduate students who utilize optimization methods to model and solve problems in mathematical programming, operations research, business, engineering, and industry, this book enables readers with a background in nonlinear optimization and linear algebra to use GAMS technology to understand and utilize its important capabilities to optimize algorithms for modeling and solving complex, large-scale, continuous nonlinear optimization problems or applications. Beginning with an overview of constrained nonlinear optimization methods, this book moves on to illustrate key aspects of mathematical modeling through modeling technologies based on algebraically oriented modeling languages. Next, the main feature of GAMS, an algebraically oriented language that allows for high-level algebraic representation of mathematical opti...

  12. R&D Investment in New Technology-Based Firms: Strategic and Entrepreneurial Dynamics and the Impact of Universities

    Science.gov (United States)

    Lynskey, Michael J.

    2016-01-01

    This article examines how two core factors--strategic and entrepreneurial dynamics--influence research and development (R&D) investment in new technology-based firms (NTBFs) using data from a questionnaire survey conducted in Japan. Among the strategic dynamics, it is found that joint R&D projects with universities have a positive,…

  13. When should irrigators invest in more water-efficient technologies as an adaptation to climate change?

    Science.gov (United States)

    Malek, K.; Adam, J. C.; Stockle, C.; Brady, M.; Yoder, J.

    2015-12-01

    The western US is expected to experience more frequent droughts with higher magnitudes and persistence due to the climate change, with potentially large impacts on agricultural productivity and the economy. Irrigated farmers have many options for minimizing drought impacts including changing crops, engaging in water markets, and switching irrigation technologies. Switching to more efficient irrigation technologies, which increase water availability in the crop root zone through reduction of irrigation losses, receives significant attention because of the promise of maintaining current production with less. However, more efficient irrigation systems are almost always more capital-intensive adaptation strategy particularly compared to changing crops or trading water. A farmer's decision to switch will depend on how much money they project to save from reducing drought damages. The objective of this study is to explore when (and under what climate change scenarios) it makes sense economically for farmers to invest in a new irrigation system. This study was performed over the Yakima River Basin (YRB) in Washington State, although the tools and information gained from this study are transferable to other watersheds in the western US. We used VIC-CropSyst, a large-scale grid-based modeling framework that simulates hydrological processes while mechanistically capturing crop water use, growth and development. The water flows simulated by VIC-CropSyst were used to run the RiverWare river system and water management model (YAK-RW), which simulates river processes and calculates regional water availability for agricultural use each day (i.e., the prorationing ratio). An automated computational platform has been developed and programed to perform the economic analysis for each grid cell, crop types and future climate projections separately, which allows us to explore whether or not implementing a new irrigation system is economically viable. Results of this study indicate that

  14. Hydrogen storage for wind parks: A real options evaluation for an optimal investment in more flexibility

    International Nuclear Information System (INIS)

    Kroniger, Daniel; Madlener, Reinhard

    2014-01-01

    Highlights: • Economic analysis of investing in H 2 storage for excess wind power production. • Use of real options analysis to account for uncertainty and managerial flexibility. • Hourly profits are simulated for profit-maximizing operation of the storage device. • Revenues by load factor increase, offering minute reserve, temporal arbitrage, H 2 sale. • Power-to-power is unprofitable under current techno-political conditions in Germany. - Abstract: In this paper, we investigate the economic viability of hydrogen storage for excess electricity produced in wind power plants. For the analysis, we define two scenarios (50 MW system with and without re-electrification unit) and apply Monte Carlo simulation and real options analysis (ROA) to compute hourly profits under uncertainty regarding wind speed, spot market electricity prices, and call of minute reserve capacity. Hydrogen as a storage medium helps to either (1) increase capacity utilization of the wind park in case of grid disconnection; (2) to offer minute reserve; or (3) to exploit temporal price arbitrage at the electricity spot market; additionally, hydrogen can also be directly sold as a commodity. We find that power-to-power operation is highly uneconomical under current framework conditions in Germany, irrespective of potential energy efficiency gains. Interestingly, due to counterbalancing effects, offshore wind parks are found to have only a modest economic advantage compared to onshore ones. The power-to-fuel plant can be operated profitably (at hydrogen prices of more than 0.36 € m −3 and a 100% utilization of the electrolyzer) if hydrogen is directly marketed instead of used to store and re-generate electrical energy. The ROA recommends investment in a storage device without re-electrification unit beyond an expected project value that is about twice the investment cost of the storage device, a figure which is reduced markedly as conversion efficiency rises, assuming technical change

  15. Optimization of processing technology of Rhizoma Pinelliae ...

    African Journals Online (AJOL)

    Methods: Orthogonal design method was applied to analyze the effects of factors such as licorice concentration volume, soaking time and processing temperature on processing technology of Rhizoma Pinelliae Praeparatum; MTT assay and flow cytometry were used to determine the inhibitory effect of Rhizoma Pinelliae ...

  16. Sequential Foreign Investments, Regional Technology Platforms and the Evolution of Japanese Multinationals in East Asia

    OpenAIRE

    Song, Jaeyong

    2001-01-01

    IVABSTRACTIn this paper, we investigate the firm-level mechanisms that underlie the sequential foreign direct investment (FDI) decisions of multinational corporations (MNCs). To understand inter-firm heterogeneity in the sequential FDI behaviors of MNCs, we develop a firm capability-based model of sequential FDI decisions. In the setting of Japanese electronics MNCs in East Asia, we empirically examine how prior investments in firm capabilities affect sequential investments into existingprodu...

  17. Investments on a Rugged Landscape: The Effect of Investor Population, Network Structure, and Complexity on Technological Change

    DEFF Research Database (Denmark)

    Hain, Daniel; Mas Tur, Elena

    In this paper, we investigate which characteristics of technological and financial systems might be conductive for technological change. We are particularly in how the interplay between capabilities, resources and networks among investors with the complexity and maturity of technologies affect...... rates of technological change and diversity, and prevents technologies from getting stuck in the financial “valley of death”. In a next step, we introduce investor networks and allow agents to co-invest together in order to pool financial resources and get access to their forecasting capability...... in a specific technological domain. We compare which investor network structures lead to the high rates of technological change and diversity on a given technology landscape. Results from a Monte Carlo simulation indicate networked investor population to outperform the case of isolated stand-alone investors...

  18. Technology for Building Systems Integration and Optimization – Landscape Report

    Energy Technology Data Exchange (ETDEWEB)

    William Goetzler, Matt Guernsey, Youssef Bargach

    2018-01-31

    BTO's Commercial Building Integration (CBI) program helps advance a range of innovative building integration and optimization technologies and solutions, paving the way for high-performing buildings that could use 50-70% less energy than typical buildings. CBI’s work focuses on early stage technology innovation, with an emphasis on how components and systems work together and how whole buildings are integrated and optimized. This landscape study outlines the current body of knowledge, capabilities, and the broader array of solutions supporting integration and optimization in commercial buildings. CBI seeks to support solutions for both existing buildings and new construction, which often present very different challenges.

  19. Reputation-Based Investment Helps to Optimize Group Behaviors in Spatial Lattice Networks.

    Science.gov (United States)

    Ding, Hong; Cao, Lin; Ren, Yizhi; Choo, Kim-Kwang Raymond; Shi, Benyun

    2016-01-01

    Encouraging cooperation among selfish individuals is crucial in many real-world systems, where individuals' collective behaviors can be analyzed using evolutionary public goods game. Along this line, extensive studies have shown that reputation is an effective mechanism to investigate the evolution of cooperation. In most existing studies, participating individuals in a public goods game are assumed to contribute unconditionally into the public pool, or they can choose partners based on a common reputation standard (e.g., preferences or characters). However, to assign one reputation standard for all individuals is impractical in many real-world deployment. In this paper, we introduce a reputation tolerance mechanism that allows an individual to select its potential partners and decide whether or not to contribute an investment to the public pool based on its tolerance to other individuals' reputation. Specifically, an individual takes part in a public goods game only if the number of participants with higher reputation exceeds the value of its tolerance. Moreover, in this paper, an individual's reputation can increase or decrease in a bounded interval based on its historical behaviors. We explore the principle that how the reputation tolerance and conditional investment mechanisms can affect the evolution of cooperation in spatial lattice networks. Our simulation results demonstrate that a larger tolerance value can achieve an environment that promote the cooperation of participants.

  20. KYC Optimization Using Distributed Ledger Technology

    OpenAIRE

    Moyano, José Parra; Ross, Omri

    2017-01-01

    The know-your-customer (KYC) due diligenceprocess is outdated and generates costs of up to USD 500million per year per bank. The authors propose a newsystem, based on distributed ledger technology (DLT), thatreduces the costs of the core KYC verification process forfinancial institutions and improves the customer experi-ence. In the proposed system, the core KYC verificationprocess is only conducted once for each customer,regardless of the number of financial institutions withwhich tha...

  1. The value from investments in health information technology at the U.S. Department of Veterans Affairs.

    Science.gov (United States)

    Byrne, Colene M; Mercincavage, Lauren M; Pan, Eric C; Vincent, Adam G; Johnston, Douglas S; Middleton, Blackford

    2010-04-01

    We compare health information technology (IT) in the Department of Veterans Affairs (VA) to norms in the private sector, and we estimate the costs and benefits of selected VA health IT systems. The VA spent proportionately more on IT than the private health care sector spent, but it achieved higher levels of IT adoption and quality of care. The potential value of the VA's health IT investments is estimated at $3.09 billion in cumulative benefits net of investment costs. This study serves as a framework to inform efforts to measure and calculate the benefits of federal health IT stimulus programs.

  2. The error of fixed strategies in IT innovation investment decisions

    OpenAIRE

    Häckel, Björn; Isakovic, Vasko; Moser, Florian

    2013-01-01

    Allocating an IT Innovation budget to technologies in different maturity stages (mature vs. fashionable IT innovations) is a demanding task for companies. Due to the dynamic innovation cycles with new emerging technologies, many IT innovation investment decisions follow a bandwagon behavior or fixed investment strategies. Instead of optimizing the IT innovation budget’s allocation to mature or fashionable IT innovations and following a mindful investment strategy, fixed strategies with naïve ...

  3. THE REGIONAL ASPECT OF USING GEOINFORMATION TECHNOLOGIES AT THE STAGE OF INCREASING THE INVESTMENT ATTRACTIVENESS OF ENGINEERING-PREPARED TERRITORIES

    Directory of Open Access Journals (Sweden)

    A. V. Volkov

    2017-01-01

    Full Text Available This paper highlights the advantages of geoinformation technologies using in the formation of perspective land plots for construction to increase the investment attractiveness of engineering prepared territories. It discusses the formation of land plots, which were prepared for placement of new enterprises, their legal registration and the necessary infrastructure. It analyzes the approaches to pricing prepared land plots in the market, as well as their demand among investors for major investment projects in the construction sector. The paper describes the characteristics of types of sites for construction, substantiating the creation of a data base for prospective engineering prepared territories.The emphasis is made on the question of working with a large amount of spatial information being analyzed that dictates the use of GIS technologies for increasing efficiency of interaction of interested parties. The article analyzes the structure of the Federal geographic information system, created to provide electronic interaction at the level of the Federal Executive power, local government bodies, legal persons and individuals.Geographic information system (GIS of this level can provide a comprehensive assessment of the quality of the prepared documents, execution of project agreements of territorial planning and information support for decision for all levels of government in planning of territory development. GIS allow us to operatively evaluate the investment attractiveness of prospective land plots for construction. The use of technologies of collecting and providing information about engineering prepared territories to potential investors improves the investment attractiveness of the Russian Federation on the whole. 

  4. An exploratory investigation of barriers and enablers affecting investment in renewable companies and technologies in the UK.

    Science.gov (United States)

    Wells, Victoria; Greenwell, Felicity; Covey, Judith; Rosenthal, Harriet E S; Adcock, Mike; Gregory-Smith, Diana

    2013-02-06

    The last few years have seen considerable research expenditure on renewable fuel technologies. However, in many cases, the necessary sustained and long-term funding from the investment community has not been realized at a level needed to allow technologies to become reality. According to global consulting firm Deloitte's recent renewable energy report (http://www.deloitte.com/energypredictions2012), many renewable energy projects stalled or were not completed because of issues including the global economy, the state of government finances, difficulties in funding and regulatory uncertainty. This investigation concentrates on the funding aspect and explores the perceived barriers and enablers to renewable technologies within the investment and renewables community. Thematic analysis of 14 in-depth interviews with representatives from renewable energy producers, banks and investment companies identified key factors affecting the psychology of investor behaviour in renewables. Eight key issues are highlighted, including a range of barriers and enablers, the role of the government, balance between cost/risk, value/return on investment, investment time scales, personality/individual differences of investors and the level of innovation in the renewable technology. It was particularly notable that in the findings the role of the government was discussed more than other themes and generally in quite critical terms, highlighting the need to ensure consistency in government funding and policy and a greater understanding of how government decision-making happens. Specific findings such as these illustrate the value of crossing disciplinary boundaries and highlight potential further research. Behavioural science and economic psychology in particular have much to offer at the interface of other disciplines such as political science and financial economics.

  5. An exploratory investigation of barriers and enablers affecting investment in renewable companies and technologies in the UK

    Science.gov (United States)

    Wells, Victoria; Greenwell, Felicity; Covey, Judith; Rosenthal, Harriet E. S.; Adcock, Mike; Gregory-Smith, Diana

    2013-01-01

    The last few years have seen considerable research expenditure on renewable fuel technologies. However, in many cases, the necessary sustained and long-term funding from the investment community has not been realized at a level needed to allow technologies to become reality. According to global consulting firm Deloitte's recent renewable energy report (http://www.deloitte.com/energypredictions2012), many renewable energy projects stalled or were not completed because of issues including the global economy, the state of government finances, difficulties in funding and regulatory uncertainty. This investigation concentrates on the funding aspect and explores the perceived barriers and enablers to renewable technologies within the investment and renewables community. Thematic analysis of 14 in-depth interviews with representatives from renewable energy producers, banks and investment companies identified key factors affecting the psychology of investor behaviour in renewables. Eight key issues are highlighted, including a range of barriers and enablers, the role of the government, balance between cost/risk, value/return on investment, investment time scales, personality/individual differences of investors and the level of innovation in the renewable technology. It was particularly notable that in the findings the role of the government was discussed more than other themes and generally in quite critical terms, highlighting the need to ensure consistency in government funding and policy and a greater understanding of how government decision-making happens. Specific findings such as these illustrate the value of crossing disciplinary boundaries and highlight potential further research. Behavioural science and economic psychology in particular have much to offer at the interface of other disciplines such as political science and financial economics. PMID:24427512

  6. Employee Perception of the Impact of Information Technology Investment in Organisations: a survey of the hotel industry

    Directory of Open Access Journals (Sweden)

    Bruce Lo

    2000-05-01

    Full Text Available To improve their operational efficiency and to maintain their competitiveness in the market place many organisations continue to invest substantially in their Information Technology (IT capability. But how do the employees themselves view the impact and the value of IT investment? This paper considers this question in the context of the hospitality industry. More specifically, it investigates the different perception of hotel employees on the impact of organisational IT investment on (a IT usage by employees, (b employee satisfaction with the IT systems, (c changes in the level of employee performance, and (d organisational performance of the hotel. 945 hotel employees in Bali, Indonesia were surveyed to assess their perception of the organisational impact of IT. Factor analysis, analysis of variance and regression analysis were performed on the data to examine the' range of employee viewpoints. Results showed that there were significant differences among the employees' perception with respect to age, educational level, position in the hotel, and individual income. These findings suggest that even senior management may regard the investment in IT is worthwhile, there may be a divergence of opinion among the employees as to what are the real benefits of IT. In order to fully leverage the potential of their IT investment, managers should pay particular attention to shaping the views of the employees who ultimately determine whether the IT capabilities in an organisation are put to use.

  7. Optimal Dynamic Investment Policy under Different Rates for Tax Depreciation and Economic Depreciation

    NARCIS (Netherlands)

    Wielhouwer, J.L.; De Waegenaere, A.M.B.; Kort, P.M.

    1999-01-01

    This paper analyzes the consequences of incorporating a different rate for tax depreciation than for economic depreciation. Firms most often choose their tax depreciation rate in a strategic way. It would therefore be a coincidence if this optimization process leads to a tax depreciation rate that

  8. How to Improve Academic Optimism? an Inquiry from the Perspective of School Resource and Investment

    Science.gov (United States)

    Wu, Jason Hsinchieh; Sheu, Tian-Ming

    2015-01-01

    Previous studies have identified many school variables which can have significant effect on academic optimism. However, most of these identified variables are leadership or psychological constructs; thus, it is often too abstract for school administrators to translate into real practice. Therefore, this study adopted the perspective of school…

  9. Case study: technology initiative led to advanced lead optimization screening processes at Bristol-Myers Squibb, 2004-2009.

    Science.gov (United States)

    Zhang, Litao; Cvijic, Mary Ellen; Lippy, Jonathan; Myslik, James; Brenner, Stephen L; Binnie, Alastair; Houston, John G

    2012-07-01

    In this paper, we review the key solutions that enabled evolution of the lead optimization screening support process at Bristol-Myers Squibb (BMS) between 2004 and 2009. During this time, technology infrastructure investment and scientific expertise integration laid the foundations to build and tailor lead optimization screening support models across all therapeutic groups at BMS. Together, harnessing advanced screening technology platforms and expanding panel screening strategy led to a paradigm shift at BMS in supporting lead optimization screening capability. Parallel SAR and structure liability relationship (SLR) screening approaches were first and broadly introduced to empower more-rapid and -informed decisions about chemical synthesis strategy and to broaden options for identifying high-quality drug candidates during lead optimization. Copyright © 2012 Elsevier Ltd. All rights reserved.

  10. Projection of the Russian economic development in the framework of the optimal control model by investments in fixed assets

    Directory of Open Access Journals (Sweden)

    Alexander Mikhajlovich Tarasyev

    2014-09-01

    Full Text Available In this paper, we develop an economic growth model taking into account two factors of production: fixed capital and labor force, to study the dynamics of GDP growth. The dependence of the output of these factors is described by a production function of the exponential type. Within the framework of the optimal control theory, the optimization problem for investment levels is being solved to maximize the integral index of consumption. We study the qualitative properties of optimal trajectories as solutions of the Hamiltonian systems arising in Pontryagin’s maximum principle. The sensitivity analysis of the equilibrium solutions of the economic system is implemented with respect to the elasticity coefficients of the production function, the depreciation rate of the capital, and the discount factor, and growth trends are indicated. The econometric analysis of the model parameters is provided basing on real data for the Russian economy. In accordance with the results of the regression analysis, the projection of economic development is constructed in conditions of the applicability of the economic growth model.

  11. Optimization of transport network in the Basin of Yangtze River with minimization of environmental emission and transport/investment costs

    Directory of Open Access Journals (Sweden)

    Haiping Shi

    2016-08-01

    Full Text Available The capacity of the ship-lock at the Three Gorges Dam has become bottleneck of waterway transport and caused serious congestion. In this article, a continual network design model is established to solve the problem with minimizing the transport cost and environmental emission as well as infrastructure construction cost. In this bi-level model, the upper model gives the schemes of ship-lock expansion or construction of pass-dam highway. The lower model assigns the containers in the multi-mode network and calculates the transport cost, environmental emission, and construction investment. The solution algorithm to the model is proposed. In the numerical study, scenario analyses are done to evaluate the schemes and determine the optimal one in the context of different traffic demands. The result shows that expanding the ship-lock is better than constructing pass-dam highway.

  12. Optimal investment paths for future renewable based energy systems - Using the optimisation model Balmorel

    DEFF Research Database (Denmark)

    Karlsson, Kenneth Bernard; Meibom, Peter

    2008-01-01

    that with an oil price at 100 $/barrel, a CO2 price at40 €/ton and the assumed penetration of hydrogen in the transport sector, it is economically optimal to cover more than 95% of the primary energy consumption for electricity and district heat by renewables in 2050. When the transport sector is converted......: A model for analyses of the electricity and CHP markets in the Baltic Sea Region. 〈www.Balmorel.com〉; 2001. [1

  13. Optimal Cost Avoidance Investment and Pricing Strategies for Performance-Based Post-Production Service Contracts

    Science.gov (United States)

    2011-04-30

    a BS degree in Mathematics and an MS degree in Statistics and Financial and Actuarial Mathematics from Kiev National Taras Shevchenko University...degrees from Rutgers University in Industrial Engineering (PhD and MS) and Statistics (MS) and from Universidad Nacional Autonoma de Mexico in Actuarial ...Science. His research efforts focus on developing mathematical models for the analysis, computation, and optimization of system performance with

  14. Some topics in mathematical finance: Asian basket option pricing, Optimal investment strategies

    OpenAIRE

    Diallo, Ibrahima

    2010-01-01

    This thesis presents the main results of my research in the field of computational finance and portfolios optimization. We focus on pricing Asian basket options and portfolio problems in the presence of inflation with stochastic interest rates.In Chapter 2, we concentrate upon the derivation of bounds for European-style discrete arithmetic Asian basket options in a Black and Scholes framework.We start from methods used for basket options and Asian options. First, we use the general approach f...

  15. THE EVALUATION SYSTEM OF DESIGN SOLUTIONS FOR RESIDENTIAL PROPERTY ON THE PRE-INVESTMENT STAGE THROUGH NEURAL NETWORK TECHNOLOGY

    Directory of Open Access Journals (Sweden)

    G. D. Kostsikava

    2016-01-01

    Full Text Available Ever since the Soviet Union design solutions were evaluated according to different criteria and indicators. At the present stage of evaluation systems of design solutions stands systemengineering doctrine is allocated. It is complemented by the theory of efficiency and financial sustainability investment project in view of the general market concept. Also great attention is paid to the virtual object modeling. It is urgent to include the behavior prediction of an investment construction project model at each stage of its life cycle. The high cost of all phases of this life cycle makes it necessary to calculate the feasibility of the investment. Very urgent to do it as accurately as possible and before we start of design works on the stage of the investment plan evaluation. Belarus has legislated pre-investment stage of construction project development. To evaluate the design solution at this stage is necessary to develop an investment justification, a project management plan and a business plan. They will evaluate and will compare several options for future objects by the complex. This requires not only time, but considerable financial costs. In order to optimize the process to develop an evaluation system design solutions based on existing projects. It allows the customer (investor choose design solutions to build the object without developing of pre-design documentations for several options. This system it is advisable to try out the example of apartment house building with the assistance of the national fund of project documentation and objects-analogues data bank. The developed evaluation system of design solutions for residential real estate objects in the pre-investment stage is supposed to use the theory of neural networks and neyroprogramming. This system bases on the input parameters projects. The hidden layer neurons are trained to choose suitable projects of apartment houses with their classification. The projects will be classified

  16. The impact of DOE building technology energy efficiency programs on U.S. employment, income, and investment

    International Nuclear Information System (INIS)

    Scott, Michael J.; Roop, Joseph M.; Schultz, Robert W.; Anderson, David M.; Cort, Katherine A.

    2008-01-01

    The U.S. Department of Energy's Office of Energy Efficiency and Renewable Energy (EERE) analyzes the macroeconomic impacts of its programs that are designed to increase the energy efficiency of the U.S. residential and commercial building stock. The analysis is conducted using the Impact of Sector Energy Technologies (ImSET) model, a special-purpose 188-sector input-output model of the U.S. economy designed specifically to evaluate the impacts of energy efficiency investments and saving. For the analysis described in the paper, ImSET was amended to provide estimates of sector-by-sector capital requirements and investment. In the scenario of the Fiscal Year (FY) 2005 Building Technologies (BT) program, the technologies and building practices being developed and promoted by the BT program have the potential to save about 2.9 x 10 15 Btu in buildings by the year 2030, about 27% of the expected growth in building energy consumption by the year 2030. The analysis reported in the paper finds that, by the year 2030, these savings have the potential to increase employment by up to 446,000 jobs, increase wage income by $7.8 billion, reduce needs for capital stock in the energy sector and closely related supporting industries by about $207 billion (and the corresponding annual level of investment by $13 billion), and create net capital savings that are available to grow the nation's future economy

  17. Should France invest in new nuclear technology? The enhancement of the EPR project using 'real option' method

    International Nuclear Information System (INIS)

    Epaulard, A.; Gallon, St.

    2000-01-01

    The mathematical tools developed to enhance financial options can also be used to calculate the economics value of investment projects which offer flexibility but whose return is uncertain (like options offered on the stock exchange). In this article, an enhancement method of this kind is applied to a construction project (in 2000) for an EPR nuclear prototype. This prototype will make it possible to use EPR to renew the French electrical infrastructure in 2020 (flexibility), but its economic value will depend upon competitiveness vis-a-vis other production methods available at this time (hence an uncertain return). We demonstrate that investing in EPR technology in 2000 will provide sufficient flexibility in 2020 to be considered profitable, even though it is improbable that the EPR technology will be used at the end of this period. The investment agreed in 2000 to expand EPR technology therefore effectively has the role of an option, or of an insurance policy (guaranteeing against the risk that traditional electricity production methods will be expensive in 2020). (authors)

  18. The Land-Potential Knowledge System (LandPKS): mobile apps and collaboration for optimizing climate change investments

    Science.gov (United States)

    Massive investments in climate change mitigation and adaptation are projected during coming decades. Many of these investments will seek to modify how land is managed. The return on both types of investments can be increased through an understanding of land potential: the potential of the land to s...

  19. Historical Analysis of Investment in Solar Energy Technologies (2000-2007)

    Energy Technology Data Exchange (ETDEWEB)

    Jennings, C. E.; Margolis, R. M.; Bartlett, J. E.

    2008-12-01

    The solar energy industry experienced unprecedented growth in the eight years from 2000 to 2007, with explosive growth occurring in the latter half of this period. From 2004 to 2007, global private sector investment in solar energy increased by almost twenty-fold, marking a dramatic increase in the short span of four years. This paper examines the timing, magnitude, focus and location of various forms of investment in the solar energy sector. It analyzes their trends to provide an understanding of the growth of the solar industry during the past eight years and to identify emerging themes in this rapidly evolving industry.

  20. Distributed electric power systems of the future: Institutional and technological drivers for near-optimal performance

    International Nuclear Information System (INIS)

    Ilic, Marija; Prica, Marija; Black, Jason W.

    2007-01-01

    Viewing electric power distribution systems as complex engineering systems whose states and inputs are defined by both technical and non-technical components of the system could help us understand challenges and lead to possible innovative solutions. In this setup, regulatory incentives, pricing, demand, and technological innovation are all endogenous feed-forward and/or feedback signals to the existing physical network and shape its evolution in both the short and long terms. We suggest that it is, indeed, possible to design technical, economic, and regulatory feed-forward and feedback signals keeping in mind the desired performance of the system. A particularly unique challenge is to enhance and operate the existing systems by incorporating distributed technologies (distributed generation or DG, active demand response, controllable wires) whose added value comes from just-in-time and right-location adjustments to the changing conditions. One way of interpreting the value of technologies of this type is to understand that they provide flexible and efficient responses by the end-user (DG and demand), therefore reducing the need for capacity reserve at the system level. Technical implementations and regulatory rules are not in place today to support systematic penetration of these technologies into the existing distribution systems. In this paper we stress the critical role of future load serving entities (LSEs) as aggregators and catalysts of customer choice at the value as one possible way forward. The LSEs would, through systematic protocols between themselves and the wholesale markets, on one side, and the customers whom they serve, on the other side, effectively implement incentives to induce near-optimal distribution system performance over long time horizons by investing in near-optimal technologies. These incentives must capture and compare both cumulative effects of real time decisions and the effects of longer-term investment decisions on near-optimal

  1. Optimizing Technology-Oriented Constructional Paramour's of complex dynamic systems

    International Nuclear Information System (INIS)

    Novak, S.M.

    1998-01-01

    Creating optimal vibro systems requires sequential solving of a few problems: selecting the basic pattern of dynamic actions, synthesizing the dynamic active systems, optimizing technological, technical, economic and design parameters. This approach is illustrated by an example of a high-efficiency vibro system synthesized for forming building structure components. When using only one single source to excite oscillations, resonance oscillations are imparted to the product to be formed in the horizontal and vertical planes. In order to obtain versatile and dynamically optimized parameters, a factor is introduced into the differential equations of the motion, accounting for the relationship between the parameters, which determine the frequency characteristics of the system and the parameter variation range. This results in obtaining non-sophisticated mathematical models of the system under investigation, convenient for optimization and for engineering design and calculations as well

  2. A decade of investment in radiotherapy in New South Wales: why does the gap between optimal and actual persist?

    International Nuclear Information System (INIS)

    Barton, Michael B.; Delaney, Geoff P.

    2011-01-01

    There is a gap between optimal and actual radiotherapy utilization (RTU) rates in New South Wales (NSW). It is uncertain if this is because these investments have been insufficient to meet demand, or demand has been over-estimated. In this study we assess trends in infrastructure, staffing and productivity in NSW over the last 10 years. The NSW Radiotherapy Management Information System reports annually on activity including new patients, new courses, retreatments, attendances, radiotherapy fields and Area Health Service (AHS) of residence. Data are obtained from interstate radiotherapy departments that treat NSW residents. A census of equipment and staffing is reported. RTU was defined as the number of new cases in a year treated by radiotherapy divided by the number of new cases of cancer in that year. From 1999 to 2008, 115 941 NSW residents received at least one course of radiotherapy. During this time period there were 325 965 new diagnoses of cancer reported by the Central Cancer Registry. RTU was 38% in 1999 and in 2008. The number of linear accelerators increased from 34 to 42 between 1999 and 2008 but the number of accelerators per 1000 new cases of cancer remained static at 1.2. For AHSs, there was a significant relationship between more linear accelerators per 1000 patients and higher RTU (P = 0.0023). Radiotherapy utilization in NSW has remained at 38% for the period 1999 to 2008 because investment in new facilities only just kept pace with the increase in the number of new cases of cancer with an indication for radiotherapy. Some regional AHS have shown significant increases in RTU with new facilities.

  3. Credit Rating via Dynamic Slack-Based Measure And It´s Optimal Investment Strategy

    Directory of Open Access Journals (Sweden)

    A. Delavarkhalafi

    2015-01-01

    Full Text Available In this paper we check the credit rating of firms applied for a loan. In this regard we introduce a model, named Dynamic Slack-Based Measure (DSBM for measuring credit rating of applicant companies. Selection of financial ratios that represent the financial state of a company -in the best possible way- is one of the most challenging parts of any credit rating analysis. At first, ranking needs to identify the appropriate variables. Therefore we introduce five financial variables to provide a ranking. As noted above, we assess the performance of these firms. Then we introduce the dynamic model of SBM and theorems, also we discuss the overall structure of DSBM. Then we will present the implementation and the simulation model. After that, we propose a stochastic controlled dynamic system model to express the optimal strategy. Banks expect companies selected with DSBM model, act in accordance with this strategy. This stochastic dynamic system is originated from the balance sheets of firms applying for a loan. Finally we evaluate the performance of the system and strategy problem.

  4. What do foraging wasps optimize in a variable environment, energy investment or body temperature?

    Science.gov (United States)

    Kovac, Helmut; Stabentheiner, Anton; Brodschneider, Robert

    2015-11-01

    Vespine wasps (Vespula sp.) are endowed with a pronounced ability of endothermic heat production. To show how they balance energetics and thermoregulation under variable environmental conditions, we measured the body temperature and respiration of sucrose foragers (1.5 M, unlimited flow) under variable ambient temperature (T a = 20-35 °C) and solar radiation (20-570 W m(-2)). Results revealed a graduated balancing of metabolic efforts with thermoregulatory needs. The thoracic temperature in the shade depended on ambient temperature, increasing from ~37 to 39 °C. However, wasps used solar heat gain to regulate their thorax temperature at a rather high level at low T a (mean T thorax ~ 39 °C). Only at high T a they used solar heat to reduce their metabolic rate remarkably. A high body temperature accelerated the suction speed and shortened foraging time. As the costs of foraging strongly depended on duration, the efficiency could be significantly increased with a high body temperature. Heat gain from solar radiation enabled the wasps to enhance foraging efficiency at high ambient temperature (T a = 30 °C) by up to 63 %. The well-balanced change of economic strategies in response to environmental conditions minimized costs of foraging and optimized energetic efficiency.

  5. Technology Optimism in a Socio-Economic Perspective

    DEFF Research Database (Denmark)

    Røpke, Inge

    1996-01-01

    Abstract It is widely acknowledged that a great effort is necessary to cope with environmental problems. Focus is often upon technological change as the main way to achieve sustainability. But is it reasonable to place so much faith in technological change? The main dividing line between the opti......Abstract It is widely acknowledged that a great effort is necessary to cope with environmental problems. Focus is often upon technological change as the main way to achieve sustainability. But is it reasonable to place so much faith in technological change? The main dividing line between...... the optimistic and the critical view relates to the importance of distributional issues. First, an over-narrow focus upon technology diverts attention from the need to deal with distributional issues as an integral part of coping with environmental problems. Second, the technology optimists underestimate...... the need for changes in fundamental mechanisms, power structures and basic ideas as preconditions for influencing the direction of technological change. The paper deals with the state interventionist version of technology optimism, where it is emphasized that active industrial and technology policies...

  6. DEFENSE SCIENCE AND TECHNOLOGY Adopting Best Practices Can Improve Innovation Investments and Management

    Science.gov (United States)

    2017-06-01

    Defense Technology Development: Technology Transition Programs Support Military Users, but Opportunities Exist to Improve Measurement of Outcomes, GAO-13... LTE ), for cellular wireless communication applications. They also develop and commercialize numerous technologies used in handsets and tablets. They...17-499 Note: Technology Readiness Levels (TRL) are a tool that DOD, among others, uses to assess technology maturity. TRLs are measured on a scale

  7. A research proposal for investigating the effect of foreign direct investments on technology transfer in the Arabian Gulf (GCC)

    Science.gov (United States)

    Tahat, Kaher; Whelan, Susan

    2015-02-01

    In terms of hosting countries perspectives, Foreign Direct Investments (FDI) could have a positive effect on its developing economy, by transferring, both: resources of finance in addition to the international technology (ITT) (Choi, 1997). Multinational companies (MNC) are engaging in the transferring of the new technology, internally as well as licensing older one; they create "Spillover" (Knowledge) for facilitating the transfer of ITT in line with geographical location, period of investment, and the type of industry. Furthermore, the effect of these spillovers depends on the level of transferring this knowledge based on FDI attraction policies of the host country (Huang, 2009). Considering the Arabian Gulf council countries (GCC) as "FDI- rich hosting countries", who are not seeking for financial resources, i.e., they already have a huge financial capacity for funding their different projects, even though FDI has been powerfully presented in GCC . They saw noticeable increases in FDI inflows beginning in 2002, (www.unctad.org.fdistatistics). Therefore by assumption, FDI inflows to GCC could positively affect their economic growth through transferring the advanced technology, in order to build up their level of technology (productivity growth) as well as their economic diversification strategy. If so how this Knowledge could be diffused and measured in order to maximize its benefit and enhancing the productivity growth, and what is the current status of (GCC).

  8. Information Technology Portfolio Management and the Real Options Method (ROM): Managing the Risks of IT Investments in the Department of the Navy (DON)

    National Research Council Canada - National Science Library

    Davis, Jeffery

    2003-01-01

    .... The Navy portion of those funds is over 55 billion. Rapid change and increasing uncertainty in the technology field has resulted in a high degree of financial risk associated with IT capital investment decisions...

  9. Probabilistic Cash Flow-Based Optimal Investment Timing Using Two-Color Rainbow Options Valuation for Economic Sustainability Appraisement

    Directory of Open Access Journals (Sweden)

    Yonggu Kim

    2017-10-01

    Full Text Available This research determines the optimal investment timing using real options valuation to support decision-making for economic sustainability assessment. This paper illustrates an option pricing model using the Black-Scholes model applied to a case project to understand the model performance. Applicability of the project to the model requires two Monte Carlo simulations to satisfy a Markov process and a Wiener process. The position of project developers is not only the seller of products, but it is also the buyer of raw materials. Real options valuation can be influenced by the volatility of cash outflow, as well as the volatility of cash inflow. This study suggests two-color rainbow options valuation to overcome this issue, which is demonstrated for a steel plant project. The asymmetric results of the case study show that cash outflow (put option influences the value of the steel plant project more than cash inflow (call option does of which the discussion of the results is referred to a sensitivity analysis. The real options valuation method proposed in this study contributes to the literature on applying the new model, taking into consideration that investors maximize project profitability for economic sustainable development.

  10. Optimal welding technology of high strength steel S690QL

    Directory of Open Access Journals (Sweden)

    Dusan Arsic

    2015-02-01

    Full Text Available In this paper is presented the detailed procedure for defining the optimal technology for welding the structures made of the high strength steel S690QL. That steel belongs into a group of steels with exceptional mechanical properties. The most prominent properties are the high tensile strength and impact toughness, at room and at elevated temperatures, as well. However, this steel has a negative characteristic - proneness to appearance of cold cracks.  That impedes welding and makes as an imperative to study different aspects of this steel's properties as well as those of eventual filler metal. Selection and defining of the optimal welding technology of this high strength steel is done for the purpose of preserving the favorable mechanical properties once the welded joint is realized; properties of the welded metal and the melting zone, as well as in the heat affected zone, which is the most critical zone of the welded joint.

  11. Optimizing Outcome in the University-Industry Technology Transfer Projects

    Science.gov (United States)

    Alavi, Hamed; Hąbek, Patrycja

    2016-06-01

    Transferring inventions of academic scientists to private enterprises for the purpose of commercialization is long known as University-Industry (firm) Technology Transfer While the importance of this phenomenon is simultaneously raising in public and private sector, only a part of patented academic inventions succeed in passing the process of commercialization. Despite the fact that formal Technology Transfer process and licencing of patented innovations to third party is the main legal tool for safeguarding rights of academic inventors in commercialization of their inventions, it is not sufficient for transmitting tacit knowledge which is necessary in exploitation of transferred technology. Existence of reciprocal and complementary relations between formal and informal technology transfer process has resulted in formation of different models for university-industry organizational collaboration or even integration where licensee firms keep contact with academic inventors after gaining legal right for commercialization of their patented invention. Current paper argues that despite necessity for patents to legally pass the right of commercialization of an invention, they are not sufficient for complete knowledge transmission in the process of technology transfer. Lack of efficiency of formal mechanism to end the Technology Transfer loop makes an opportunity to create innovative interpersonal and organizational connections among patentee and licensee company. With emphasize on need for further elaboration of informal mechanisms as critical and underappreciated aspect of technology transfer process, article will try to answer the questions of how to optimize knowledge transmission process in the framework of University-Industry Technology Transfer Projects? What is the theoretical basis for university-industry technology transfer process? What are organization collaborative models which can enhance overall performance by improving transmission of knowledge in

  12. OPTIMIZING OUTCOME IN THE UNIVERSITY-INDUSTRY TECHNOLOGY TRANSFER PROJECTS

    Directory of Open Access Journals (Sweden)

    Hamed ALAVI

    2016-04-01

    Full Text Available Transferring inventions of academic scientists to private enterprises for the purpose of commercialization is long known as University-Industry (firm Technology Transfer While the importance of this phenomenon is simultaneously raising in public and private sector, only a part of patented academic inventions succeed in passing the process of commercialization. Despite the fact that formal Technology Transfer process and licencing of patented innovations to third party is the main legal tool for safeguarding rights of academic inventors in commercialization of their inventions, it is not sufficient for transmitting tacit knowledge which is necessary in exploitation of transferred technology. Existence of reciprocal and complementary relations between formal and informal technology transfer process has resulted in formation of different models for university-industry organizational collaboration or even integration where licensee firms keep contact with academic inventors after gaining legal right for commercialization of their patented invention. Current paper argues that despite necessity for patents to legally pass the right of commercialization of an invention, they are not sufficient for complete knowledge transmission in the process of technology transfer. Lack of efficiency of formal mechanism to end the Technology Transfer loop makes an opportunity to create innovative interpersonal and organizational connections among patentee and licensee company. With emphasize on need for further elaboration of informal mechanisms as critical and underappreciated aspect of technology transfer process, article will try to answer the questions of how to optimize knowledge transmission process in the framework of University-Industry Technology Transfer Projects? What is the theoretical basis for university-industry technology transfer process? What are organization collaborative models which can enhance overall performance by improving transmission of

  13. Residential Customer Enrollment in Time-based Rate and Enabling Technology Programs: Smart Grid Investment Grant Consumer Behavior Study Analysis

    Energy Technology Data Exchange (ETDEWEB)

    Todd, Annika [Lawrence Berkeley National Lab. (LBNL), Berkeley, CA (United States); Cappers, Peter [Lawrence Berkeley National Lab. (LBNL), Berkeley, CA (United States); Goldman, Charles [Lawrence Berkeley National Lab. (LBNL), Berkeley, CA (United States)

    2013-05-01

    The U.S. Department of Energy’s (DOE’s) Smart Grid Investment Grant (SGIG) program is working with a subset of the 99 SGIG projects undertaking Consumer Behavior Studies (CBS), which examine the response of mass market consumers (i.e., residential and small commercial customers) to time-varying electricity prices (referred to herein as time-based rate programs) in conjunction with the deployment of advanced metering infrastructure (AMI) and associated technologies. The effort presents an opportunity to advance the electric industry’s understanding of consumer behavior.

  14. Health technology assessment to optimize health technology utilization: using implementation initiatives and monitoring processes.

    Science.gov (United States)

    Frønsdal, Katrine B; Facey, Karen; Klemp, Marianne; Norderhaug, Inger Natvig; Mørland, Berit; Røttingen, John-Arne

    2010-07-01

    The way in which a health technology is used in any particular health system depends on the decisions and actions of a variety of stakeholders, the local culture, and context. In 2009, the HTAi Policy Forum considered how health technology assessment (HTA) could be improved to optimize the use of technologies (in terms of uptake, change in use, or disinvestment) in such complex systems. In scoping, it was agreed to focus on initiatives to implement evidence-based guidance and monitoring activities. A review identified systematic reviews of implementation initiatives and monitoring activities. A two-day deliberative workshop was held to discuss key papers, members' experiences, and collectively address key questions. This consensus paper was developed by email and finalized at a postworkshop meeting. Evidence suggests that the impact and use of HTA could be increased by ensuring timely delivery of relevant reports to clearly determined policy receptor (decision-making) points. To achieve this, the breadth of assessment, implementation initiatives such as incentives and targeted, intelligent dissemination of HTA result, needs to be considered. HTA stakeholders undertake a variety of monitoring activities, which could inform optimal use of a technology. However, the quality of these data varies and is often not submitted to an HTA. Monitoring data should be sufficiently robust so that they can be used in HTA to inform optimal use of technology. Evidence-based implementation initiatives should be developed for HTA, to better inform decision makers at all levels in a health system about the optimal use of technology.

  15. Allogeneic cell therapy bioprocess economics and optimization: single-use cell expansion technologies.

    Science.gov (United States)

    Simaria, Ana S; Hassan, Sally; Varadaraju, Hemanthram; Rowley, Jon; Warren, Kim; Vanek, Philip; Farid, Suzanne S

    2014-01-01

    For allogeneic cell therapies to reach their therapeutic potential, challenges related to achieving scalable and robust manufacturing processes will need to be addressed. A particular challenge is producing lot-sizes capable of meeting commercial demands of up to 10(9) cells/dose for large patient numbers due to the current limitations of expansion technologies. This article describes the application of a decisional tool to identify the most cost-effective expansion technologies for different scales of production as well as current gaps in the technology capabilities for allogeneic cell therapy manufacture. The tool integrates bioprocess economics with optimization to assess the economic competitiveness of planar and microcarrier-based cell expansion technologies. Visualization methods were used to identify the production scales where planar technologies will cease to be cost-effective and where microcarrier-based bioreactors become the only option. The tool outputs also predict that for the industry to be sustainable for high demand scenarios, significant increases will likely be needed in the performance capabilities of microcarrier-based systems. These data are presented using a technology S-curve as well as windows of operation to identify the combination of cell productivities and scale of single-use bioreactors required to meet future lot sizes. The modeling insights can be used to identify where future R&D investment should be focused to improve the performance of the most promising technologies so that they become a robust and scalable option that enables the cell therapy industry reach commercially relevant lot sizes. The tool outputs can facilitate decision-making very early on in development and be used to predict, and better manage, the risk of process changes needed as products proceed through the development pathway. © 2013 Wiley Periodicals, Inc.

  16. Determinants of farmers’ perception to invest in soil and water conservation technologies in the North-Western Highlands of Ethiopia

    Directory of Open Access Journals (Sweden)

    Desalew Meseret Moges

    2017-03-01

    Full Text Available Soil erosion by water is a severe and continuous ecological problem in the north-western Highlands of Ethiopia. Limited perception of farmers to practice soil and water conservation (SWC technologies is one of the major causes that have resulted accelerated soil erosion. Therefore, this paper examines the major determinants of farmers’ perception to use and invest in SWC technologies in Ankasha District, north-western highlands of Ethiopia. A detailed field survey was carried out among 338 households, randomly selected from two rural sample kebeles (called villages here after. Descriptive statistics and logistic regression model were used to analyse the effects of multiple variables on farmers’ perception. The results indicate that educational level of the respondents and their access to trainings were found to have a positive and very significant association (P<0.01 with farmers’ perception. Likewise, land ownership, plot size, slope type, and extension contact positively and significantly influenced farmers’ perception at 5% level of significance. On the other hand, the influence of respondents’ age and plot distance from the homestead was found to be negative and significant (P<0.05. The overall results of this study indicate that the perception of farmers to invest in SWC technologies was highly determined by socioeconomic, institutional, attitudinal and biophysical factors. Thus, a better understanding of constrains that influence farmers' perception is very important while designing and implementing SWC technologies. Frequent contacts between farmers and extension agents and continues agricultural trainings are also needed to increase awareness of the impacts of SWC benefits.

  17. Engineering management technologies of increasing energy efficiency processes in the investment and construction projects

    Science.gov (United States)

    Borisovich Zelentsov, Leonid; Dmitrievna Mailyan, Liya; Sultanovich Shogenov, Murat

    2017-10-01

    The article deals with the problems of using the energy-efficient materials and engineering technologies during the construction of buildings and structures. As the analysis showed, one of the most important problems in this sphere is the infringement of production technologies working with energy-efficient materials. To improve the given situation, it is offered to set a technological normal at the design stage by means of working out the technological maps studying the set and the succession of operations in details, taking in mind the properties of energy-efficient materials. At Don State Technical University (DSTU) the intelligent systems of management are being developed providing organizational and technological and also informational integration of design and production stages by means of creating the single database of technological maps, volumes of work and resources.

  18. How to manage future groundwater resource of China under climate change and urbanization: An optimal stage investment design from modern portfolio theory.

    Science.gov (United States)

    Hua, Shanshan; Liang, Jie; Zeng, Guangming; Xu, Min; Zhang, Chang; Yuan, Yujie; Li, Xiaodong; Li, Ping; Liu, Jiayu; Huang, Lu

    2015-11-15

    Groundwater management in China has been facing challenges from both climate change and urbanization and is considered as a national priority nowadays. However, unprecedented uncertainty exists in future scenarios making it difficult to formulate management planning paradigms. In this paper, we apply modern portfolio theory (MPT) to formulate an optimal stage investment of groundwater contamination remediation in China. This approach generates optimal weights of investment to each stage of the groundwater management and helps maximize expected return while minimizing overall risk in the future. We find that the efficient frontier of investment displays an upward-sloping shape in risk-return space. The expected value of groundwater vulnerability index increases from 0.6118 to 0.6230 following with the risk of uncertainty increased from 0.0118 to 0.0297. If management investment is constrained not to exceed certain total cost until 2050 year, the efficient frontier could help decision makers make the most appropriate choice on the trade-off between risk and return. Copyright © 2015 Elsevier Ltd. All rights reserved.

  19. Extending the horizons advances in computing, optimization, and decision technologies

    CERN Document Server

    Joseph, Anito; Mehrotra, Anuj; Trick, Michael

    2007-01-01

    Computer Science and Operations Research continue to have a synergistic relationship and this book represents the results of cross-fertilization between OR/MS and CS/AI. It is this interface of OR/CS that makes possible advances that could not have been achieved in isolation. Taken collectively, these articles are indicative of the state-of-the-art in the interface between OR/MS and CS/AI and of the high caliber of research being conducted by members of the INFORMS Computing Society. EXTENDING THE HORIZONS: Advances in Computing, Optimization, and Decision Technologies is a volume that presents the latest, leading research in the design and analysis of algorithms, computational optimization, heuristic search and learning, modeling languages, parallel and distributed computing, simulation, computational logic and visualization. This volume also emphasizes a variety of novel applications in the interface of CS, AI, and OR/MS.

  20. 77 FR 5865 - American Unity Investments, Inc., China Display Technologies, Inc., China Wind Energy, Inc., Fuda...

    Science.gov (United States)

    2012-02-06

    ... Display Technologies, Inc., China Wind Energy, Inc., Fuda Faucet Works, Inc., Greater China Media & Entertainment Corp., and Xechem International, Inc.; Order of Suspension of Trading February 2, 2012. It appears... Technologies, Inc. because it has not filed any periodic reports since the period ended September 30, 2008. It...

  1. 32 CFR Appendix A to Part 37 - What Is the Civil-Military Integration Policy That Is the Basis for Technology Investment...

    Science.gov (United States)

    2010-07-01

    ... 32 National Defense 1 2010-07-01 2010-07-01 false What Is the Civil-Military Integration Policy That Is the Basis for Technology Investment Agreements? A Appendix A to Part 37 National Defense Department of Defense OFFICE OF THE SECRETARY OF DEFENSE DoD GRANT AND AGREEMENT REGULATIONS TECHNOLOGY...

  2. Material saving by means of CWR technology using optimization techniques

    Science.gov (United States)

    Pérez, Iñaki; Ambrosio, Cristina

    2017-10-01

    Material saving is currently a must for the forging companies, as material costs sum up to 50% for parts made of steel and up to 90% in other materials like titanium. For long products, cross wedge rolling (CWR) technology can be used to obtain forging preforms with a suitable distribution of the material along its own axis. However, defining the correct preform dimensions is not an easy task and it could need an intensive trial-and-error campaign. To speed up the preform definition, it is necessary to apply optimization techniques on Finite Element Models (FEM) able to reproduce the material behaviour when being rolled. Meta-models Assisted Evolution Strategies (MAES), that combine evolutionary algorithms with Kriging meta-models, are implemented in FORGE® software and they allow reducing optimization computation costs in a relevant way. The paper shows the application of these optimization techniques to the definition of the right preform for a shaft from a vehicle of the agricultural sector. First, the current forging process, based on obtaining the forging preform by means of an open die forging operation, is showed. Then, the CWR preform optimization is developed by using the above mentioned optimization techniques. The objective is to reduce, as much as possible, the initial billet weight, so that a calculation of flash weight reduction due to the use of the proposed preform is stated. Finally, a simulation of CWR process for the defined preform is carried out to check that most common failures (necking, spirals,..) in CWR do not appear in this case.

  3. Real Options Analysis of Electricity Investments

    Energy Technology Data Exchange (ETDEWEB)

    Heggedal, Ane Marte

    2012-07-01

    This thesis utilizes real options analysis for evaluating investment opportunities in the electricity sector. It also formally tests how investors in hydropower plants have included uncertainty when considering their investment opportunities. The real options method applies financial options theory to quantify the value of management flexibility and is chosen due to three important characteristics of investments in the electricity sector. First; the investment is completely or partially irreversible, second; the investor can choose when to invest in the facility, and third; there is uncertainty in several factors affecting the cash flows of the investments. Factors of uncertainty include the development of electricity prices, policies, technological advances, and macroeconomics measures.Four papers are included in this thesis. Paper 1, Upgrading hydropower plants with storage: Timing and capacity choice, presents a valuation framework for deciding when to upgrade an existing hydropower plant and which capacity to choose. The second paper, Transmission capacity between Norway and Germany: A real options analysis, sheds light on when two electricity markets, in this case Norway and Germany, should be connected through a sub sea cable. The investor can choose when to invest and the capacity of the cable, and may also choose to invest sequentially. Paper 3, Optimal timing and capacity choice for pumped hydropower storage, investigates when investment in a pumped hydropower plant with storage should be undertaken and what the capacity of the facility should be. Whereas the three first papers investigate investment opportunities, Paper 4, Uncertain climate policy decisions and investment timing: Evidence from small hydropower plants, studies when investors in small hydropower plants chose to invest. The analyses disclose whether the net present value approach or the real options method best describe the investment decisions made by the investors. Viewing investment

  4. Analysis of For-Profit Commercial Firm Participation in Technology Investment Agreements

    National Research Council Canada - National Science Library

    Tucker, Barbara

    2002-01-01

    .... These changes impacted the military's ability to maintain technological superiority over its adversaries, which was the foundation of a successful U,S, national defense, Commercial research and development (R&D...

  5. Shared Investment by NIS and National Labs Develops Cutting-Edge Safeguards Technologies

    Energy Technology Data Exchange (ETDEWEB)

    Anheier, Norman C.; Williams, Laura S.

    2012-04-01

    This article, regarding a new technology for detecting undeclared enrichment at gas centrifuge enrichment plants, was written for the DOE/NNSA NA-24 Highlights, a newsletter intended for public release.

  6. Sustainable thermal technologies and care homes: Productive alignment or risky investment?

    International Nuclear Information System (INIS)

    Neven, Louis; Walker, Gordon; Brown, Sam

    2015-01-01

    The use of more sustainable thermal technologies is a policy imperative across the UK building stock. However, not all building uses provide the same opportunities for technology uptake as others. Care homes for older people have characteristics which in technical and economic terms suggest that they might be particularly appropriate for the implementation of more sustainable thermal technologies. They have comparatively high demands for space heating and hot water often sustained on a 24/7 basis. However there are many considerations, both generic and contextual, that will typically play into processes of technology uptake. Through qualitative research in six case study homes, focused on management and staff perspectives and experiences, we explore the degree to which there might be a productive alignment between care home operation and the use of sustainable thermal technologies. Two key themes emerge focused on business considerations and the importance of avoiding risk and damage to reputation; and the ways in which different thermal technologies are relevant to and can potentially impact on care practices. We conclude that despite potential benefits the sector could remain rather resistant to sustainability innovations. We suggest therefore areas in which productive action and further research could be undertaken. -- Highlights: •Care homes for older people might be particularly appropriate for the use of sustainable thermal technologies. •We examine if a productive alignment between care homes and the use of sustainable thermal technologies does exist in practice. •Two key themes are risks to business reputation; and relevance and potential benefits to care practices. •We conclude that the sector could remain rather reluctant to embrace sustainability innovation

  7. Technological, Economic, and Environmental Optimization of Aluminum Recycling

    Science.gov (United States)

    Ioana, Adrian; Semenescu, Augustin

    2013-08-01

    The four strategic directions (referring to the entire life cycle of aluminum) are as follows: production, primary use, recycling, and reuse. Thus, in this work, the following are analyzed and optimized: reducing greenhouse gas emissions from aluminum production, increasing energy efficiency in aluminum production, maximizing used-product collection, recycling, and reusing. According to the energetic balance at the gaseous environment level, the conductive transfer model is also analyzed through the finished elements method. Several principles of modeling and optimization are presented and analyzed: the principle of analogy, the principle of concepts, and the principle of hierarchization. Based on these principles, an original diagram model is designed together with the corresponding logic diagram. This article also presents and analyzes the main benefits of aluminum recycling and reuse. Recycling and reuse of aluminum have the main advantage that it requires only about 5% of energy consumed to produce it from bauxite. The aluminum recycling and production process causes the emission of pollutants such as dioxides and furans, hydrogen chloride, and particulate matter. To control these emissions, aluminum recyclers are required to comply with the National Emission Standards for Hazardous Air Pollutants for Secondary Aluminum Production. The results of technological, economic, and ecological optimization of aluminum recycling are based on the criteria function's evaluation in the modeling system.

  8. The Optimal Timing of Adoption of a Green Technology

    International Nuclear Information System (INIS)

    Cunha-e-Sa, M.A.; Reis, A.B.

    2007-01-01

    We study the optimal timing of adoption of a cleaner technology and its effects on the rate of growth of an economy in the context of an AK endogenous growth model. We show that the results depend upon the behavior of the marginal utility of environmental quality with respect to consumption. When it is increasing, we derive the capital level at the optimal timing of adoption. We show that this capital threshold is independent of the initial conditions on the stock of capital, implying that capital-poor countries tend to take longer to adopt. Also, country-specific characteristics, as the existence of high barriers to adoption, may lead to different capital thresholds for different countries. If the marginal utility of environmental quality decreases with consumption, a country should never delay adoption; the optimal policy is either to adopt immediately or, if adoption costs are t oo high , to never adopt. The policy implications of these results are discussed in the context of the international debate surrounding the environmental political agenda

  9. R and D investment strategy for climate change

    International Nuclear Information System (INIS)

    Blanford, Geoffrey J.

    2009-01-01

    The economic costs of stabilizing greenhouse gas concentrations over the coming century depend critically on the development of new technologies in the energy sector. Our research and development (R and D) investment strategy is the control variable for technology availability. This paper proposes an analytic framework for determining optimal R and D investment allocation and presents some numerical results to demonstrate the implementation of the methodology. The value of technological advance in three targeted areas-fossil-based generation, renewables, and carbon capture and storage-is represented by the increase in expected welfare in the presence of an emissions policy constraint of initially uncertain stringency. R and D expenditure increases the probability of advance. Optimal investment is determined by its relationship with success probability, which is assumed to exhibit decreasing returns to scale, relative to the value of success. While the numerical results are speculative, the paper offers insights into the nature of an optimal technology strategy for addressing climate change. (author)

  10. Coating material innovation in conjunction with optimized deposition technologies

    International Nuclear Information System (INIS)

    Stolze, M.; Leitner, K.

    2009-01-01

    Concentrating on physical vapour deposition methods several examples of recently developed coating materials for optical applications were studied for film deposition with optimized coating technologies: mixed evaporation materials for ion assisted deposition with modern plasma ion sources, planar metal and oxide sputter targets for Direct Current (DC) and Mid-Frequency (MF) pulsed sputter deposition and planar and rotatable sputter targets of transparent conductive oxides (TCO) for large-area sputter deposition. Films from specially designed titania based mixed evaporation materials deposited with new plasma ion sources and possible operation with pure oxygen showed extended ranges of the ratio between refractive index and structural film stress, hence there is an increased potential for the reduction of the total coating stress in High-Low alternating stacks and for coating plastics. DC and MF-pulsed sputtering of niobium metal and suboxide targets for optical coatings yielded essential benefits of the suboxide targets in a range of practical coating conditions (for absent in-situ post-oxidation ability): higher refractive index and deposition rate, better reproducibility and easier process control, and the potential for co-deposition of several targets. Technological progress in the manufacture of rotatable indium tin oxide (ITO) targets with regard to higher wall-thickness and density was shown to be reflected in higher material stock and coater up-time, economical deposition rates and stable process behaviour. Both for the rotatable ITO targets and higher-dense aluminum-doped zinc oxide (AZO) planar targets values of film transmittance and resistivity were in the range of the best values industrially achieved for films from the respective planar targets. The results for the rotatable ITO and planar AZO targets point to equally optimized process and film properties for the optimized rotatable AZO targets currently in testing

  11. Investments in Fossil Energy Technology: How the Government's Fossil Energy R&D Program Has Made a Difference

    Science.gov (United States)

    1997-03-01

    America has the technological capacity to change its energy future. There is no reason, for example, why our nation must continue following a path of rising oil imports when billions of barrels of crude oil remain in domestic oil fields. There is no reason why we cannot continue to use our abundant supplies of high-value, low-cost coal when we have the scientific know-how to remove virtually all of its pollutants and reduce greenhouse gas emissions. There is no reason why we cannot turn increasingly to clean-burning natural gas and tap the huge supplies we know exist within our borders. We remain a nation rich in the fuels that have powered economic growth. Today 85 percent of the energy we use to heat our homes and businesses, generate our electricity, and fuel our vehicles comes from coal, petroleum and natural gas. As we move toward a new century, the contributions of these fuels will grow. By 2015, the United States is likely to require nearly 20 percent more energy than it uses today, and fossil fuels are projected to supply almost 88 percent of the energy Americans will consume. We have the scientific know-how to continue using our fossil fuel wealth without fear of environmental damage or skyrocketing costs. The key is technology - developing cutting edge concepts that are beyond the private sector's current capabilities. Some of the most important innovations in America's energy industry are the results of investments in the Federal government's fossil energy research and development programs. Today, our air and water are cleaner, our economy is stronger, and our industries are more competitive in the global market because these programs have produced results. This booklet summarizes many of these achievements. It is not a comprehensive list by any means. Still, it provides solid evidence that the taxpayers' investment in government fossil energy research has paid real and measurable dividends.

  12. Technology Takes Coaching to Scale: Investing in Innovation Grantees Show How It's Done

    Science.gov (United States)

    Breslow, Nicole

    2017-01-01

    In recent years, there has been increasing interest in the use of video and other technology tools to support professional learning. A growing body of evidence shows how these tools are improving teachers' practice (Borko, Jacobs, Eiteljorg, & Pittman, 2008; Grant & Kline, 2010; van Es & Sherin, 2010). However, there has been less…

  13. Investments in product innovation using information technology : lessons from the financial services sector

    NARCIS (Netherlands)

    Deitz, R.M.H.

    1993-01-01

    Product innovation using information technology (IT) represents a very interesting object of study from an economic point of view. The existing company-information infrastructure offers numerous opportunities but also risks for product-innovation. Opportunities occur when existing or future systems

  14. Fixed capital investments for the uranium soils integrated demonstration soil treatment technologies

    Energy Technology Data Exchange (ETDEWEB)

    Douthat, D.M.; Armstrong, A.Q. [Oak Ridge National Lab., TN (United States); Stewart, R.N. [Univ. of Tennessee, Knoxville, TN (United States)

    1995-05-01

    The development of a nuclear industry in the United States required mining, milling, and fabricating a large variety of uranium products. One of these products was purified uranium metal which was used in the Savannah River and Hanford Site reactors. Most of this feed material was produced at the United States Department of Energy (DOE) facility formerly called the Feed Materials Production Center at Fernald, Ohio. During operation of this facility, soils became contaminated with uranium from a variety of sources. To address remediation and management of uranium-contaminated soils at sites owned by DOE, the Uranium Soils Integrated Demonstration (USID) Program was formed to evaluate and compare the versatility, efficiency, and economics of various technologies that may be combined into systems designed to characterize and remediate uranium contaminated soils. The USID Program has five major tasks in developing and demonstrating these technologies. Each must be able to (1) characterize the uranium in soil, (2) decontaminate or remove uranium from soil, (3) treat or dispose of resulting waste streams, (4) meet necessary state and federal regulations, and (5) meet performance assessment objectives. The role of the performance assessment objectives is to provide the information necessary to conduct evaluations of the technologies. These performance assessments provide the basis for selecting the optimum system for remediation of large areas contaminated with uranium. One of the performance assessment tasks is to address the economics of full-scale implementation of soil treatment technologies developed by the USID Program. The cost of treating contaminated soil is one of the criteria used in the decision-making process for selecting remedial alternatives.

  15. Fixed capital investments for the uranium soils integrated demonstration soil treatment technologies

    International Nuclear Information System (INIS)

    Douthat, D.M.; Armstrong, A.Q.; Stewart, R.N.

    1995-05-01

    The development of a nuclear industry in the United States required mining, milling, and fabricating a large variety of uranium products. One of these products was purified uranium metal which was used in the Savannah River and Hanford Site reactors. Most of this feed material was produced at the United States Department of Energy (DOE) facility formerly called the Feed Materials Production Center at Fernald, Ohio. During operation of this facility, soils became contaminated with uranium from a variety of sources. To address remediation and management of uranium-contaminated soils at sites owned by DOE, the Uranium Soils Integrated Demonstration (USID) Program was formed to evaluate and compare the versatility, efficiency, and economics of various technologies that may be combined into systems designed to characterize and remediate uranium contaminated soils. The USID Program has five major tasks in developing and demonstrating these technologies. Each must be able to (1) characterize the uranium in soil, (2) decontaminate or remove uranium from soil, (3) treat or dispose of resulting waste streams, (4) meet necessary state and federal regulations, and (5) meet performance assessment objectives. The role of the performance assessment objectives is to provide the information necessary to conduct evaluations of the technologies. These performance assessments provide the basis for selecting the optimum system for remediation of large areas contaminated with uranium. One of the performance assessment tasks is to address the economics of full-scale implementation of soil treatment technologies developed by the USID Program. The cost of treating contaminated soil is one of the criteria used in the decision-making process for selecting remedial alternatives

  16. Accuracy optimization with wavelength tunability in overlay imaging technology

    Science.gov (United States)

    Lee, Honggoo; Kang, Yoonshik; Han, Sangjoon; Shim, Kyuchan; Hong, Minhyung; Kim, Seungyoung; Lee, Jieun; Lee, Dongyoung; Oh, Eungryong; Choi, Ahlin; Kim, Youngsik; Marciano, Tal; Klein, Dana; Hajaj, Eitan M.; Aharon, Sharon; Ben-Dov, Guy; Lilach, Saltoun; Serero, Dan; Golotsvan, Anna

    2018-03-01

    As semiconductor manufacturing technology progresses and the dimensions of integrated circuit elements shrink, overlay budget is accordingly being reduced. Overlay budget closely approaches the scale of measurement inaccuracies due to both optical imperfections of the measurement system and the interaction of light with geometrical asymmetries of the measured targets. Measurement inaccuracies can no longer be ignored due to their significant effect on the resulting device yield. In this paper we investigate a new approach for imaging based overlay (IBO) measurements by optimizing accuracy rather than contrast precision, including its effect over the total target performance, using wavelength tunable overlay imaging metrology. We present new accuracy metrics based on theoretical development and present their quality in identifying the measurement accuracy when compared to CD-SEM overlay measurements. The paper presents the theoretical considerations and simulation work, as well as measurement data, for which tunability combined with the new accuracy metrics is shown to improve accuracy performance.

  17. Optimization of Processing Technology of Compound Dandelion Wine

    Directory of Open Access Journals (Sweden)

    Wu Jixuan

    2016-01-01

    Full Text Available Exploring dandelion food has been the concern in fields of the food processing and pharmaceutical industry for playing exact curative effect on high-fat-diet induced hepatic steatosis and diuretic activity. Few dandelion foods including drinks and microencapsulation were explored and unilateral dandelion wine were less carried out for its bitter flavour. In tis paper, to optimize the processing technologies of fermented compound wine from dandelion root, the orthogonal experiment design method was used to composite dandelion root powder with glutinous rice and schisandra fruit and optimize the fermenting parameters. Four factors with dandelion content, schisandra content, acidity and sugar content were discussed. The acidity factor was firstly confirmed as 7.0 g/L. The other three factors were confirmed by a series experiments as dandelion 0.55%, schisandra 0.5%, sugar 22%. With nine step processing of mixing substrate, stirring with water, cooking rice, amylase saccharification, pectinase hydrolysis, adjusting juice, fermenting with yeast, fitering, aging, sterilization, a light yellow wine with the special taste with flavour of dandelion, schisandra and rice and less bitter, few index were determined as 14.7% alcohol, 6.85 g/L acidity. A dandelion fermented compound wine with suitable flavour and sanitarian function was developed for enriching the dandelion food.

  18. 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...

  19. Developing and Implementing a Social Media Program While Optimizing Return on Investment--An MBA Program Case Study

    Science.gov (United States)

    Gilfoil, David M.; Aukers, Steven M.; Jobs, Charles G.

    2015-01-01

    Over the past decade, Web 2.0 has brought a wealth of opportunities for improving marketing effectiveness; social media platforms, in particular, have proven to be exceptional tools for realizing growth potential. The big question for businesses used to be how to measure and report financial return on investment (ROI) for social media ad spend to…

  20. Reaping the space investment. [Shuttle era geosynchronous satellite based technological trends

    Science.gov (United States)

    Calio, A. J.

    1979-01-01

    By 1999 operational space systems will be implemented routinely on a worldwide scale in many areas vital to human survival and life quality. Geosynchronous-based monitoring and observation will be extensively used. The Shuttle era will bring in the capability to allow monitoring and identifying pollution sources which fail to stay within required limits. Remotely sensed data over land masses will provide needed facts on renewable and nonrenewable earth resources. New instruments and techniques will have been developed to provide geologists with clues to the declining number of deposits of fuels and minerals. Also, practical methods for predicting earthquakes will have been elaborated by 1999. Communications will see implementation of many of the technological goals of 1978.

  1. Optimizing Geothermal Drilling: Oil and Gas Technology Transfer

    Energy Technology Data Exchange (ETDEWEB)

    Denninger, Kate; Eustes, Alfred; Visser, Charles; Baker, Walt; Bolton, Dan; Bell, Jason; Bell, Sean; Jacobs, Amelia; Nagandran, Uneshddarann; Tilley, Mitch; Quick, Ralph

    2015-09-02

    There is a significant amount of financial risk associated with geothermal drilling. This study of drilling operations seeks opportunities to improve upon current practices and technologies. The scope of this study included analyzing 21 geothermal wells and 21 oil and gas wells. The goal was to determine a 'Perfect Well' using historical data to compare the best oil and gas well to the best geothermal well. Unfortunately, limitations encountered in the study included missing data (bit records, mud information, etc.) and poor data collection practices An online software database was used to format drilling data to IADC coded daily drilling reports and generate figures for analysis. Six major issues have been found in geothermal drilling operations. These problems include lost circulation, rig/ equipment selection, cementing, penetration rate, drilling program, and time management. As a result of these issues, geothermal drilling averaged 56.4 days longer than drilling comparable oil and gas wells in the wells in this study. Roughly $13.9 million was spent on non-productive time in the 21 geothermal wells, compared with only $1.3 million in the oil and gas wells, assuming a cost of $50,000 per day. Comparable events such as drilling the same sized hole, tripping in/out, cementing, and running the same size casing took substantially less time in the oil and gas wells. Geothermal wells were drilled using older and/or less advanced technology to depths less than 10,000 feet, while oil and gas wells reached 12,500 feet faster with purpose built rigs. A new approach is now underway that will optimize drilling programs throughout the drilling industry using Mechanical Specific Energy (MSE) as a tool to realize efficient drilling processes. Potential improvements for current geothermal operations are: the use of electronic records, real time services, and official glossary terms to describe rig operations, and advanced drilling rigs/technology.

  2. Irreversible investments revisited

    DEFF Research Database (Denmark)

    Sandal, Leif K.; Steinshamn, Stein I.; Hoff, Ayoe

    2007-01-01

    A multi-dimensional, non-linear dynamic model in continuous time is presented for the purpose of finding the optimal combination of exploitation and capital investment in optimal renewable resource management. Non-malleability of capital is incorporated in the model through an asymmetric cost......-function of investment, and investments can be both positive and negative. Exploitation is controlled through the utilisation rate of available capital. A novel feature in this model is that there are costs associated with the available capital whether it is utilised or not. And, in contrast to most of the previous...

  3. Interactive Whiteboard Technologies in High School: A Comparison of Their Impact on the Levels of Measure That Determine a Return on Investment

    Science.gov (United States)

    Schipper, Joseph M.; Yocum, Russell G.

    2016-01-01

    This quantitative, quasi-experimental, nonequivalent group study examined the impact on levels of measure that determine a return on investment of differing forms of interactive whiteboard (IWB) technology used at a high school in a suburban school district in southeastern Virginia. Three forms of IWB were compared: a full-screen IWB, a mobile…

  4. HIMSS Venture+ Forum and HX360 Provide Industry View of Health Technology Innovation, Startup and Investment Activity; Advancing the New Model of Care.

    Science.gov (United States)

    Burde, Howard A; Scarfo, Richard

    2015-01-01

    Presented by HIMSS, the Venture+ Forum program and pitch competition provides a 360-degree view on health technology investing and today's top innovative companies. It features exciting 3-minute pitch presentations from emerging and growth-stage companies, investor panels and a networking reception. Recent Venture+ Forum winners include TowerView Health, Prima-Temp, ActuaiMeds and M3 Clinician. As an industry catalyst for health IT innovation and business-building resource for growing companies and emerging technology solutions, HIMSS has co-developed with A VIA, a new initiative that addresses how emerging technologies, health system business model changes and investment will transform the delivery of care. HX360 engages senior healthcare leaders, innovation teams, investors and entrepreneurs around the vision of transforming healthcare delivery by leveraging technology, process and structure.

  5. Electricity and combined heat and power from municipal solid waste; theoretically optimal investment decision time and emissions trading implications.

    Science.gov (United States)

    Tolis, Athanasios; Rentizelas, Athanasios; Aravossis, Konstantin; Tatsiopoulos, Ilias

    2010-11-01

    Waste management has become a great social concern for modern societies. Landfill emissions have been identified among the major contributors of global warming and climate changes with significant impact in national economies. The energy industry constitutes an additional greenhouse gas emitter, while at the same time it is characterized by significant costs and uncertain fuel prices. The above implications have triggered different policies and measures worldwide to address the management of municipal solid wastes on the one hand and the impacts from energy production on the other. Emerging methods of energy recovery from waste may address both concerns simultaneously. In this work a comparative study of co-generation investments based on municipal solid waste is presented, focusing on the evolution of their economical performance over time. A real-options algorithm has been adopted investigating different options of energy recovery from waste: incineration, gasification and landfill biogas exploitation. The financial contributors are identified and the impact of greenhouse gas trading is analysed in terms of financial yields, considering landfilling as the baseline scenario. The results indicate an advantage of combined heat and power over solely electricity production. Gasification, has failed in some European installations. Incineration on the other hand, proves to be more attractive than the competing alternatives, mainly due to its higher power production efficiency, lower investment costs and lower emission rates. Although these characteristics may not drastically change over time, either immediate or irreversible investment decisions might be reconsidered under the current selling prices of heat, power and CO(2) allowances.

  6. Renewable energy investment: Policy and market impacts

    International Nuclear Information System (INIS)

    Reuter, Wolf Heinrich; Szolgayová, Jana; Fuss, Sabine; Obersteiner, Michael

    2012-01-01

    Highlights: ► Feedback of decisions to the market: large companies can have an impact on prices in the market. ► Multiple uncertainties: analysis of uncertainties emanating from both markets and environment. ► Policy analysis: impact of uncertainty about the durability of feed-in tariffs. -- Abstract: The liberalization of electricity markets in recent years has enhanced competition among power-generating firms facing uncertain decisions of competitors and thus uncertain prices. At the same time, promoting renewable energy has been a key ingredient in energy policy seeking to de-carbonize the energy mix. Public incentives for companies to invest in renewable technologies range from feed-in tariffs, to investment subsidies, tax credits, portfolio requirements and certificate systems. We use a real options model in discrete time with lumpy multiple investments to analyze the decisions of an electricity producer to invest into new power generating capacity, to select the type of technology and to optimize its operation under price uncertainty and with market effects. We account for both the specific characteristics of renewables and the market effects of investment decisions. The prices are determined endogenously by the supply of electricity in the market and by exogenous electricity price uncertainty. The framework is used to analyze energy policy, as well as the reaction of producers to uncertainty in the political and regulatory framework. In this way, we are able to compare different policies to foster investment into renewables and analyze their impacts on the market.

  7. An optimization approach to parallel generation solar PV investments in the U.S.: Two applications illustrate the case for tariff reform

    International Nuclear Information System (INIS)

    Kildegaard, Arne; Wente, Jordan

    2015-01-01

    We construct a model to optimize the economics of distributed generation photovoltaics (DGPV) for a parallel generation (behind-the-meter) application. Applying the model to the short-interval load and insolation data for two similar dairy operations in the U.S. Upper Midwest region, we find that highly site-specific differences in parameters lead to strikingly divergent results. Operating behind-the-meter strongly rewards real-time concurrence between on-site generation and on-site load. Compared to operating under a value of solar tariff (VOST) or net energy metering (NEM), we argue that parallel generation tariffs amplify the existing, irreducible uncertainties of project economics, and discourage DGPV investment. - Highlights: • Presents a novel approach to optimizing the size of behind-the-meter PV. • Demonstrates interaction of tax and financial parameters with load and insolation data. • Identifies how behind-the-meter operation raises risk to project economics.

  8. Timing of Investment and Dynamic Pricing in Privatized Sectors

    OpenAIRE

    Tarola, Ornella; Trento, Sandro

    2010-01-01

    Firms in equipment-intensive sectors, where investment in production is performed at diminishing marginal cost, spend billions of dollars in equipment and production capacity. Typically, this expenditure is induced by either the replacement of existing equipment, which deteriorates with age and can result in higher operating costs and lower production capacity, or further investment, to benefit from any technological improvement embedded in new equipment. We identify the optimal price policy,...

  9. Coupled Climate-Economy-Biosphere (CoCEB) model - Part 1: Abatement share and investment in low-carbon technologies

    Science.gov (United States)

    Ogutu, K. B. Z.; D'Andrea, F.; Ghil, M.; Nyandwi, C.; Manene, M. M.; Muthama, J. N.

    2015-04-01

    The Coupled Climate-Economy-Biosphere (CoCEB) model described herein takes an integrated assessment approach to simulating global change. By using an endogenous economic growth module with physical and human capital accumulation, this paper considers the sustainability of economic growth, as economic activity intensifies greenhouse gas emissions that in turn cause economic damage due to climate change. Different types of fossil fuels and different technologies produce different volumes of carbon dioxide in combustion. The shares of different fuels and their future evolution are not known. We assume that the dynamics of hydrocarbon-based energy share and their replacement with renewable energy sources in the global energy balance can be modeled into the 21st century by use of logistic functions. Various climate change mitigation policy measures are considered. While many integrated assessment models treat abatement costs merely as an unproductive loss of income, we consider abatement activities also as an investment in overall energy efficiency of the economy and decrease of overall carbon intensity of the energy system. The paper shows that these efforts help to reduce the volume of industrial carbon dioxide emissions, lower temperature deviations, and lead to positive effects in economic growth.

  10. Optimizing Geothermal Drilling: Oil and Gas Technology Transfer

    Energy Technology Data Exchange (ETDEWEB)

    Tilley, Mitch; Eustes, Alfred; Visser, Charles; Baker, Walt; Bolton, Dan; Bell, Jason; Nagandran, Uneshddarann; Quick, Ralph

    2015-01-26

    There is a significant amount of financial risk associated with geothermal drilling; however, there are opportunities to improve upon current practices and technologies used. The scope of this drilling operational study included 21 geothermal wells and 21 oil and gas wells. The goal was to determine a 'perfect well' using historical data to compare the best oil and gas well to the best geothermal well. Unfortunately, limitations encountered in the study included missing data (bit records, mud information, etc.), poor data collection, and difficult to ascertain handwriting. An online software database was used to format drilling data to IADC coded daily drilling reports and generate analysis figures. Six major issues have been found in geothermal drilling operations. These problems include lost circulation, rig/equipment selection, cementing, penetration rate, drilling program, and time management. As a result of these issues, geothermal drilling averages 56.4 days longer than drilling comparable oil and gas wells in the wells in this study. Roughly $13.9 million would be lost due to non-productive time in the 21 geothermal wells and only $1.3 million in the oil and gas wells, assuming a cost of $50,000 per day. Comparable events such as drilling the same sized hole, tripping in/out, cementing, and running the same size casing took substantially less time in the oil and gas wells. Geothermal wells were drilled using older and/or less advanced technology to depths less than 10,000 feet, while oil and gas wells reached 12,500 feet faster with purpose built rigs. A new approach is now underway that will optimize drilling programs throughout the drilling industry. It is the use of Mechanical Specific Energy (MSE) as a tool to realize efficient drilling processes. However, a work-flow must also be established in order for there to be an efficient drilling program. Potential improvements for current geothermal operations are: the use of electronic records, real

  11. MSFC Turbine Performance Optimization (TPO) Technology Verification Status

    Science.gov (United States)

    Griffin, Lisa W.; Dorney, Daniel J.; Snellgrove, Lauren M.; Zoladz, Thomas F.; Stroud, Richard T.; Turner, James E. (Technical Monitor)

    2002-01-01

    Capability to optimize for turbine performance and accurately predict unsteady loads will allow for increased reliability, Isp, and thrust-to-weight. The development of a fast, accurate, validated aerodynamic design, analysis, and optimization system is required.

  12. Offshore wind investments – Realism about cost developments is necessary

    International Nuclear Information System (INIS)

    Schwanitz, Valeria Jana; Wierling, August

    2016-01-01

    Data available from the recent boom in European offshore wind investments contradict widely held expectations about a decline in costs per kW. Our review shows that scenario projections for investment costs are systematically flawed by over-optimistic assumptions. Contrasting offshore wind technology with onshore wind and nuclear power, we argue that offshore wind could be a candidate for negative learning since a trend towards more complex OWP (offshore wind parks) exists and uncertainty remains high. We estimate technical uncertainty and input cost uncertainty to calculate whether investments in offshore wind technology are profitable today. Applying a real option model to two reference plants using empirically derived parameter values, we allow for sunk cost and the possibility to abandon the investment. We find that for a large parameter range, investments are not profitable, even with substantial support such as feed-in tariffs under the German Energy Act. Therefore, policy incentives for building larger and more complex offshore wind parks bear a high risk to fail in their aim of bringing down investment costs. Policies that instead incentivize the optimization of offshore wind technology – in particular by increasing the load factor and material efficiency and bringing down decommissioning costs – are more sustainable. - Highlights: • We review offshore wind power investments. • Contrary to expectations costs increase. • It is unlikely to see a turn in the near future as complexity is growing. • We deploy an empirically based real option model. • Investments are not profitable across a large parameter range.

  13. Optimal Life-Cycle Investing with Flexible Labor Supply: A Welfare Analysis of Life-Cycle Funds

    OpenAIRE

    Francisco J. Gomes; Laurence J. Kotlikoff; Luis M. Viceira

    2008-01-01

    We investigate optimal consumption, asset accumulation and portfolio decisions in a realistically calibrated life-cycle model with flexible labor supply. Our framework allows for wage rate uncertainly, variable labor supply, social security benefits and portfolio choice over safe bonds and risky equities. Our analysis reinforces prior findings that equities are the preferred asset for young households, with the optimal share of equities generally declining prior to retirement. However, variab...

  14. INCREASE OF EFFICIENCY OF FUNCTIONING OF THE ENTERPRISE ON THE BASIS OF INVESTMENT IN THE OPTIMIZATION OF BUSINESS PROCESSES FOR MANAGING WAREHOUSE RESERVES

    Directory of Open Access Journals (Sweden)

    Aliya Nurfaizovna Gabdulakhatova

    2017-06-01

    Full Text Available The relevance of this topic is due to the fact that inventory management is one of the important parts of the enterprise management policy in the servicing industry. The article summarizes the importance of stock optimization at the enterprise, presents the stages of inventory management, provides a horizontal analysis of the main results of the enterprise’s activities, and, based on the tree of problems method and the decision tree, identifies the problems and ways to optimize the business processes for inventory management. One of the ways to improve the financial condition of an enterprise, by improving business processes in inventory management, which will require certain investments, suggests the use of logistics center services. The purpose of this work is to identify ways to optimize the activities of the enterprise in inventory management. Methodology: There were used methods of analysis of financial and economic activity, also economic and mathematical methods. Results: the most informative parameters showing the efficiency of optimization of the enterprise’s activities. Practical implications it is expedient to apply the received results the economic subjects which produce products with subsequent sale.

  15. Optimization of radiation protection by optimizing technology of CASTOR-Cask loading

    International Nuclear Information System (INIS)

    Lorenz, Bernd; Dreesen, Konrad; Hoffmann, Dietrich

    2008-01-01

    Full text: Germany Optimization of Protection is one of the basic principles of the ICRP System of Radiation Protection. Often this principle is misunderstood and people try to achieve minimal doses irrespective of the amount of manpower or money they have to afford to reach this aim. The better way of optimization is to optimize the technology or the practise which is the cause of radiation exposure and at the same time reduce the dose uptake. Three measures have been used for this purpose in the management of spent fuel in Germany in preparation for the dry storage in CASTOR-Casks. The casks have to be loaded with the spent fuel in the pond of the power plant. After the loading the cask has to be dewatered and dried. The remaining humidity has to be checked with respect to a given maximum residual humidity to avoid corrosion during the long-term storage. Initially a measuring device using the dew point mirror method was used. The mirror was often polluted and needed recalibration. This led to a large variety of measuring times, the time period needed for the above mentioned three steps ranged from 55 to 120 hours. Thus the work could not be reliably planned. To solve this problem we now use a pressure-rise method to measure the humidity within the cask. The time needed is now nearly equal and reliable for all cask loadings and considerably lower than using the dew point method. Thereby the dose uptake of the cask handling staff could be reduced to 2.5 man mSv on average in comparison to the former collective dose of 4 to 5 man mSv. A second step for reducing the dose of the staff is the introduction of remotely controlled valves for the drying process, the humidity measurement and the subsequent filling with Helium. The valves are located at the lid of the cask where a remarkable dose rate could be. The equipment for the remote valve handling has been successfully tested. In the same line is a third measure: to record the process data by computer. The supervising

  16. Retention payoff-based cost per day open regression equations: Application in a user-friendly decision support tool for investment analysis of automated estrus detection technologies.

    Science.gov (United States)

    Dolecheck, K A; Heersche, G; Bewley, J M

    2016-12-01

    Assessing the economic implications of investing in automated estrus detection (AED) technologies can be overwhelming for dairy producers. The objectives of this study were to develop new regression equations for estimating the cost per day open (DO) and to apply the results to create a user-friendly, partial budget, decision support tool for investment analysis of AED technologies. In the resulting decision support tool, the end user can adjust herd-specific inputs regarding general management, current reproductive management strategies, and the proposed AED system. Outputs include expected DO, reproductive cull rate, net present value, and payback period for the proposed AED system. Utility of the decision support tool was demonstrated with an example dairy herd created using data from DairyMetrics (Dairy Records Management Systems, Raleigh, NC), Food and Agricultural Policy Research Institute (Columbia, MO), and published literature. Resulting herd size, rolling herd average milk production, milk price, and feed cost were 323 cows, 10,758kg, $0.41/kg, and $0.20/kg of dry matter, respectively. Automated estrus detection technologies with 2 levels of initial system cost (low: $5,000 vs. high: $10,000), tag price (low: $50 vs. high: $100), and estrus detection rate (low: 60% vs. high: 80%) were compared over a 7-yr investment period. Four scenarios were considered in a demonstration of the investment analysis tool: (1) a herd using 100% visual observation for estrus detection before adopting 100% AED, (2) a herd using 100% visual observation before adopting 75% AED and 25% visual observation, (3) a herd using 100% timed artificial insemination (TAI) before adopting 100% AED, and (4) a herd using 100% TAI before adopting 75% AED and 25% TAI. Net present value in scenarios 1 and 2 was always positive, indicating a positive investment situation. Net present value in scenarios 3 and 4 was always positive in combinations using a $50 tag price, and in scenario 4, the $5

  17. A paperless course on structural engineering programming: investing in educational technology in the times of the Greek financial recession

    Science.gov (United States)

    Sextos, Anastasios G.

    2014-01-01

    This paper presents the structure of an undergraduate course entitled 'programming techniques and the use of specialised software in structural engineering' which is offered to the fifth (final) year students of the Civil Engineering Department of Aristotle University Thessaloniki in Greece. The aim of this course is to demonstrate the use of new information technologies in the field of structural engineering and to teach modern programming and finite element simulation techniques that the students can in turn apply in both research and everyday design of structures. The course also focuses on the physical interpretation of structural engineering problems, in a way that the students become familiar with the concept of computational tools without losing perspective from the engineering problem studied. For this purpose, a wide variety of structural engineering problems are studied in class, involving structural statics, dynamics, earthquake engineering, design of reinforced concrete and steel structures as well as data and information management. The main novelty of the course is that it is taught and examined solely in the computer laboratory ensuring that each student can accomplish the prescribed 'hands-on' training on a dedicated computer, strictly on a 1:1 student over hardware ratio. Significant effort has also been put so that modern educational techniques and tools are utilised to offer the course in an essentially paperless mode. This involves electronic educational material, video tutorials, student information in real time and exams given and assessed electronically through an ad hoc developed, personalised, electronic system. The positive feedback received from the students reveals that the concept of a paperless course is not only applicable in real academic conditions but is also a promising approach that significantly increases student productivity and engagement. The question, however, is whether such an investment in educational technology is indeed

  18. Is there an optimal pension fund size? A scale-economy analysis of administrative and investment costs

    NARCIS (Netherlands)

    Bikker, J.A.

    2013-01-01

    This paper investigates scale economies and the optimal scale of pension funds, estimating different cost functions with varying assumptions about the shape of the underlying average cost function: Ushaped versus monotonically declining. Using unique data for Dutch pension funds over 1992-2009, we

  19. Investment in risky R and D programs in the face of climate uncertainty

    International Nuclear Information System (INIS)

    Baker, Erin; Adu-Bonnah, Kwame

    2008-01-01

    We analyze how the socially optimal technology R and D investment changes with the risk-profile of the R and D program and with uncertainty about climate damages. We show that how technology is represented in the model is crucial to the results; and that uncertainty in damages interacts with uncertainty in the returns to R and D. We consider R and D that reduces the cost of abatement multiplicatively, and argue that this is a good representation of R and D into non-carbon technologies; and R and D that reduces the emissions-to-output ratio, and argue that this is a good representation of R and D into fossil fuel technologies. For R and D programs into non-carbon technologies, optimal investment is higher in riskier programs. Our empirical model indicates that the optimal investment in a risky program is about 3 1/2 times larger than in a program with certain returns. For R and D programs aimed at reducing emissions in fossil fuel based technologies, our results show that, qualitatively, investment is higher in less risky programs under most uncertain damage scenarios. Our empirical model shows, however, that the risk-profile of fossil fuel based R and D programs generally has little quantitative impact on optimal investment. The exception is that when the probability of a catastrophe inducing full abatement is very high, investment is about twice as high in risky programs compared to programs with certain returns. (author)

  20. Comparison of Turkey's electrical energy consumption and production with some European countries and optimization of future electrical power supply investments in Turkey

    International Nuclear Information System (INIS)

    Tunc, Murat; Camdali, Uenal; Parmaksizoglu, Cem

    2006-01-01

    Energy issues are directly related to the development of a country and the living standards of its people. Turkey is currently in a rapid industrialization process with a young and dynamic population of over 65 million. Due to relatively high growth rate of the population, increasing consumer oriented attitudes and as a result of rising levels of affluence, the primary energy demand is rising rapidly at an annual rate of 6.7 percent. In this study Turkey's energy resources, installed electric power capacity, electric energy production and consumption rates are investigated and compared with that of France, Germany and Switzerland. Turkey's electric energy consumption rates are predicted with regression analysis for the years of 2010 and 2020 and finally linear mathematical optimization model is developed to predict the distribution of future electrical power supply investments in Turkey

  1. Determining the directions of increasing the innovative potential of the region by developing innovative technologies and competences when preparing and implementing large investment projects

    Directory of Open Access Journals (Sweden)

    Timur V. Kramin

    2015-12-01

    Full Text Available Objective to determine the directions of increasing the innovative potential of a region through the development of innovative technologies and competences in the process of preparation and implementation of large investment projects in the Republic of Tatarstan. Methods methodology of project management institutional approach. Results it is proved that the main largescale directions of innovative potential development in the Republic of Tatarstan as a result of preparation and implementing of Universiade 2013 in Kazan are knowledge management information technologies risk management. It is shown that in the framework of the considered innovative areas a complete system was formed of competences of employees and managers in the fields of education trade hospitality and service. Scientific novelty the key directions were defined of increasing the innovative potential of a region through the development of innovative technologies and competences in the process of preparation and implementation of large investment projects by the example of the World Summer Student Games in Kazan in 2013. Practical significance on the basis of specific examples the authors illustrate the practiceoriented mechanism of innovative potential development of a region as a result of implementation of large investment projects. nbsp

  2. Investment Avenues

    Science.gov (United States)

    Jain, Priyanka

    2012-11-01

    Investors are a heterogeneous group, they may be large or small, rich or poor, expert or lay man and not all investors need equal degree of protection (Mayya, 1996). An investor has three objectives while investing his money, namely safety of invested money, liquidity position of invested money and return on investment. The return on investment may further be divided into capital gain and the rate of return on investment as interest or dividend. Among all investment options available, securities are considered the most challenging as well as rewarding. Securities include shares, debentures, derivatives, units of mutual funds, Government securities etc. An investor may be an individual or corporate legal entity investing funds with a view to derive maximum economic advantage from investment such as rate of return, capital appreciation, marketability, tax advantage and convenience of investment.The Capital market facilitates mobilization of savings of individuals and pools them into reservoir of capital which can be used for the economic development of a country. An efficient capital market is essential for raising capital by the corporate sector of the economy and for the protection of the interest of investors in corporate securities. There arises a need to strike a balance between raising of capital for economic development on one side and protection of investors on the other. Unless the interests of investors are protected, raising of capital, by corporates is not possible. Like, the primary objective of a senior citizenís asset allocation is the generation of regular income.

  3. CO2 Capture Rate Sensitivity Versus Purchase of CO2 Quotas. Optimizing Investment Choice for Electricity Sector

    Directory of Open Access Journals (Sweden)

    Coussy Paula

    2014-09-01

    Full Text Available Carbon capture technology (and associated storage, applied to power plants, reduces atmospheric CO2 emissions. This article demonstrates that, in the particular case of the deployment phase of CO2 capture technology during which CO2 quota price may be low, capturing less than 90% of total CO2 emissions from power plants can be economically attractive. Indeed, for an electric power company capture technology is interesting, only if the discounted marginal cost of capture is lower than the discounted marginal cost of purchased quotas. When CO2 price is low, it is interesting to have flexibility and reduce the overall capture rate of the site, by stopping the capture system of one of the combustion trains if the site has multiple ones, or by adopting less than 90% CO2 capture rate.

  4. Investment, regulation, and uncertainty

    Science.gov (United States)

    Smyth, Stuart J; McDonald, Jillian; Falck-Zepeda, Jose

    2014-01-01

    As with any technological innovation, time refines the technology, improving upon the original version of the innovative product. The initial GM crops had single traits for either herbicide tolerance or insect resistance. Current varieties have both of these traits stacked together and in many cases other abiotic and biotic traits have also been stacked. This innovation requires investment. While this is relatively straight forward, certain conditions need to exist such that investments can be facilitated. The principle requirement for investment is that regulatory frameworks render consistent and timely decisions. If the certainty of regulatory outcomes weakens, the potential for changes in investment patterns increases.   This article provides a summary background to the leading plant breeding technologies that are either currently being used to develop new crop varieties or are in the pipeline to be applied to plant breeding within the next few years. Challenges for existing regulatory systems are highlighted. Utilizing an option value approach from investment literature, an assessment of uncertainty regarding the regulatory approval for these varying techniques is undertaken. This research highlights which technology development options have the greatest degree of uncertainty and hence, which ones might be expected to see an investment decline. PMID:24499745

  5. Optimal fossil-fuel taxation with backstop technologies and tenure risk

    Energy Technology Data Exchange (ETDEWEB)

    Strand, Jon [World Bank, Development Economics Group, Washington DC 20433 (United States); Department of Economics, University of Oslo (Norway)

    2010-03-15

    The paper derives the global welfare-optimizing time path for a tax on fossil fuels causing a negative stock externality (climate change), under increasing marginal extraction cost, and in the presence of an unlimited backstop resource causing no externality. In a basic competitive case, the optimal tax equals the Pigou rate, equivalent to the present discounted value of marginal damage costs. We consider two separate types of tenure insecurity for resource owners, and their impact on the tax implementing the optimal policy. When insecure control is with respect to future ownership to the resource, competitive extraction is higher than otherwise, and the efficiency-implementing tax exceeds the Pigou rate. When tenure insecurity instead implies possible expropriation ('holdup') of investment in extraction capacity, it deters extraction, and the optimal tax is lower than the Pigou rate. (author)

  6. Technology to optimize pediatric diabetes management and outcomes.

    Science.gov (United States)

    Markowitz, Jessica T; Harrington, Kara R; Laffel, Lori M B

    2013-12-01

    Technology for diabetes management is rapidly developing and changing. With each new development, there are numerous factors to consider, including medical benefits, impact on quality of life, ease of use, and barriers to use. It is also important to consider the interaction between developmental stage and technology. This review considers a number of newer diabetes-related technologies and explores issues related to their use in the pediatric diabetes population (including young adults), with a focus on psychosocial factors. Areas include trend technology in blood glucose monitoring, continuous glucose monitoring, sensor-augmented insulin pumps and low glucose suspend functions, internet applications including videoconferencing, mobile applications (apps), text messaging, and online gaming.

  7. Retrospective Benefit-Cost Evaluation of U.S. DOE Vehicle Combustion Engine R&D Investments: Impacts of a Cluster of Energy Technologies

    Energy Technology Data Exchange (ETDEWEB)

    Link, Albert N. [Univ. of North Carolina, Greensboro, NC (United States)

    2010-05-01

    Advanced Combustion Engine R&D (ACE R&D) is one of the subprograms within DOE's Vehicle Technologies Office. The ACE subprogram's R&D is conducted in cooperation with the DOE Combustion Research Facility (CRF). This report summarizes the findings from a retrospective study of the net benefits to society from investments by DOE (both EERE and cooperative CRF efforts) in laser diagnostic and optical engine technologies and combustion modeling for heavy-duty diesel engines.

  8. Optimize Use of Space Research and Technology for Medical Devices

    Science.gov (United States)

    Minnifield, Nona K.

    2012-01-01

    systems, and cutting-edge component technologies to conduct a wide range of scientific observations and measurements. These technologies are also considered for practical applications that benefit society in remarkable ways. At NASA Goddard, the technology transfer initiative promotes matching technologies from Earth and space science needs to targeted industry sectors. This requires clear knowledge of industry needs and priorities and social demands. The process entails matching mature technologies where there are known innovation challenges and good opportunities for matching technology needs. This requires creative thinking and takes commitment of time and resources. Additionally, we also look at applications for known hot industry or societal needs. Doing so has given us occasion to host discussions with representatives from industry, academia, government organizations, and societal special interest groups about the application of NASA Goddard technologies for devices used in medical monitoring and detection tools. As a result, partnerships have been established. Innovation transpired when new products were enabled because of NASA Goddard research and technology programs.

  9. RUSSIAN INDUSTRY INVESTMENT SITUATION

    Directory of Open Access Journals (Sweden)

    O. V. Pochukaeva

    2011-01-01

    Full Text Available The actual deficiency of investment into Russian industry innovative development increases its technological drag from industries of countries with developed markets. Although the rate of investment into real sectors of Russian economics mid 2000 was higher compared to the previous period, annual investment amounts were much lower than in 1990. At present, highest investment amounts are directed to industry extractive branches and to the commerce. Amounts invested to various economy branches do not correspond to their contribution to the country’sGross Added Product; particularly underinvested are manufacturing industry branches. At present, foreign share in the country economy total investment makes 15–18%. Recently, most interesting for foreigners was investment to machine-building branches with overwhelming part (for example, 90% in 2007–2008 of foreign investment into the machine-building industry being directed to creation of new automobile plants. Today, first place in the list of foreign investors’ preferences in Russia is taken by the machine-tool construction sector.

  10. Modeling and optimization of the lifetime of technologies

    CERN Document Server

    Hritonenko, Natali

    1996-01-01

    Modern economic growth is characterized by structural changes based on the introduction of new technologies into economics. The replacement and renova­ tion of technologies in industrial environments undergoing technical change is clearly one of the key aspects of economic development. The mathematical modeling of evolutionary economics under technical change (TC) has been rigorously considered by many authors during last decades. There is a wide variety of economic approaches and models describing different aspects of technical change. Among these are the models of embodied technical progress [19], [35], [70], [129], endogenous growth models [94], [102], the models of technological innovations [31], [32], [41], and others. The perspective self­ organization evolutionary approach is developed in [20], [38], [122], [123], [124], [126], which unites the aspects of diffusion of new technologies, technological and behavioral diversity of firms, learning mechanisms, age-dependent effects, and other important fea...

  11. A Global Optimizing Policy for Decaying Items with Ramp-Type Demand Rate under Two-Level Trade Credit Financing Taking Account of Preservation Technology

    Directory of Open Access Journals (Sweden)

    S. R. Singh

    2013-01-01

    Full Text Available An inventory system for deteriorating items, with ramp-type demand rate, under two-level trade credit policy taking account of preservation technology is considered. The objective of this study is to develop a deteriorating inventory policy when the supplier provides to the retailer a permissible delay in payments, and during this credit period, the retailer accumulates the revenue and earns interest on that revenue; also the retailer invests on the preservation technology to reduce the rate of product deterioration. Shortages are allowed and partially backlogged. Sufficient conditions of the existence and uniqueness of the optimal replenishment policy are provided, and an algorithm, for its determination, is proposed. Numerical examples draw attention to the obtained results, and the sensitivity analysis of the optimal solution with respect to leading parameters of the system is carried out.

  12. Modeling, simulation and optimization for science and technology

    CERN Document Server

    Kuznetsov, Yuri; Neittaanmäki, Pekka; Pironneau, Olivier

    2014-01-01

    This volume contains thirteen articles on advances in applied mathematics and computing methods for engineering problems. Six papers are on optimization methods and algorithms with emphasis on problems with multiple criteria; four articles are on numerical methods for applied problems modeled with nonlinear PDEs; two contributions are on abstract estimates for error analysis; finally one paper deals with rare events in the context of uncertainty quantification. Applications include aerospace, glaciology and nonlinear elasticity. Herein is a selection of contributions from speakers at two conferences on applied mathematics held in June 2012 at the University of Jyväskylä, Finland. The first conference, “Optimization and PDEs with Industrial Applications” celebrated the seventieth birthday of Professor Jacques Périaux of the University of Jyväskylä and Polytechnic University of Catalonia (Barcelona Tech), and the second conference, “Optimization and PDEs with Applications” celebrated the seventy-fi...

  13. DIDO optimization of a lunar landing trajectory with respect to autonomous landing hazard avoidance technology

    OpenAIRE

    Francis, Michael R.

    2009-01-01

    Approved for public release, distribution unlimited In this study, the current and expected state of lunar landing technology is assessed. Contrasts are drawn between the technologies used during the Apollo era versus that which will be used in the next decade in an attempt to return to the lunar surface. In particular, one new technology, Autonomous Landing Hazard Avoidance Technology (ALHAT) and one new method, DIDO optimization, are identified and examined. An approach to creating a DID...

  14. Federal Investment

    Science.gov (United States)

    Campbell, Sheila; Tawil, Natalie

    2013-01-01

    The federal government pays for a wide range of goods and services that are expected to be useful some years in the future. Those purchases, called investment, fall into three categories: physical capital, research and development (R&D), and education and training. There are several economic rationales for federal investment. It can provide…

  15. Foreign direct investment and technology spillovers in low and middle-income countries : a comparative cross-sectoral analysis

    NARCIS (Netherlands)

    Jacob, J.; Sasso, S.

    2015-01-01

    In this paper we analyse the trends in Foreign Direct Investment (FDI) flows worldwide across sectors and across value-chain activities, with a particular focus on low- and middle-income countries in comparison with advanced countries. We begin by discussing the growing fragmentation of global

  16. Multiple-Optimizing Dynamic Sensor Networks with MIMO Technology (PREPRINT)

    Science.gov (United States)

    2010-06-01

    cluster edge is always d and never changes. A backbone is a rooted tree formed by cluster heads. The transmission distance for a backbone-edge...optimization considerations and algorithms,” IEEE Transactions on Mobile Computing, 2004. 15. T. Tang, M. Park, R. W. Heath, Jr. and Scott M. Nettles , “A

  17. Technology of Structural Optimization for Subsidiary in Enterprise ...

    African Journals Online (AJOL)

    pc

    2018-03-05

    Mar 5, 2018 ... structure optimization for technical registration of enterprise energy resources. ... some apartments, metering of energy resources that consumed in different ... connected to existing wireless subnets of an information net in .... connection reasonabilit y (rates)*. 1. Room No1 Name1. Resides at the zone of.

  18. Collaborating to optimize nursing students' agency information technology use.

    Science.gov (United States)

    Fetter, Marilyn S

    2009-01-01

    As the learning laboratory for gaining actual patient care experience, clinical agencies play an essential role in nursing education. With an information technology revolution transforming healthcare, nursing programs are eager for their students to learn the latest informatics systems and technologies. However, many healthcare institutions are struggling to meet their own information technology needs and report limited resources and other as barriers to nursing student training. In addition, nursing students' information technology access and use raise security and privacy concerns. With the goal of a fully electronic health record by 2014, it is imperative that agencies and educational programs collaborate. They need to establish educationally sound, cost-effective, and secure policies and procedures for managing students' use of information technology systems. Strategies for evaluating options, selecting training methods, and ensuring data security are shared, along with strategies that may reap clinical, economic, and educational benefits. Students' information technology use raises numerous issues that the nursing profession must address to participate in healthcare's transformation into the digital age.

  19. Multi-Objective Optimization of an In situ Bioremediation Technology to Treat Perchlorate-Contaminated Groundwater

    Science.gov (United States)

    The presentation shows how a multi-objective optimization method is integrated into a transport simulator (MT3D) for estimating parameters and cost of in-situ bioremediation technology to treat perchlorate-contaminated groundwater.

  20. Investment casting or powder metallurgy – the ecological aspect

    Directory of Open Access Journals (Sweden)

    J. Tomasik

    2009-04-01

    Full Text Available The paper presents an analysis of manufacturing methods of material-saving products in relation to investment castings and sinteredpowder technology. Surface microgeometry, shape accuracy, performance parameters, manufacturing costs and energy consumption weretaken into account to make the optimal choice. The analysis was conducted by comparing test results for sintered powder products basedon Distaloy AB alloy that consists of 0.55% C, 1.5% Cu, 1.75% Ni and 0.5% Mo and investment castings made of high alloy cast steel andnodular cast iron. The analysis made it possible to choose the best technology, considering also the ecological aspect.

  1. Irreversible investments revisited

    DEFF Research Database (Denmark)

    Sandal, Leif K.; Steinshamn, Stein I.; Hoff, Ayoe

    2007-01-01

    A multi-dimensional, non-linear dynamic model in continuous time is presented for the purpose of finding the optimal combination of exploitation and capital investment in optimal renewable resource management. Non-malleability of capital is incorporated in the model through an asymmetric cost......-function of investment, and investments can be both positive and negative. Exploitation is controlled through the utilisation rate of available capital. A novel feature in this model is that there are costs associated with the available capital whether it is utilised or not. And, in contrast to most of the previous...... literature, the state variables, namely the physical capital and the biological resource, enter the objective function. Due to the nonlinearities in this model some of the results are in sharp contrast to previous literature....

  2. [Optimization of education for laparoendoscopic technologies in Ukraine].

    Science.gov (United States)

    Lesovoĭ, V N; Savenkov, V I; Tomin, M S

    2014-09-01

    International experience of training of surgeons, including urologists, in laparoendoscopic technologies, was analyzed. Practical course "The Fundamentals of aparoscopic Surgery" (FLS) and the European program of education for basic laparoscopic urologic skills (E-BLUS), which are used in specialized centers, constitute a standard programs of development of basic endosurgical skills. Such centers in Ukraine are absent. The project of complex system of a simulating education, testing and certification of surgeons, who are trained in endovideosurgical technologies, is proposed. While performing surveying of Ukrainian surgeons there were revealed the problems in a process of their education and introduction of highly technological methods: insufficient equipment with modern apparatuses, absence of a standardized pro- gram of education. The staged program of education was elaborated, taking into account progressive international experience and adopted to our environment and con ditions.

  3. Optimization of FTA technology for large scale plant DNA isolation ...

    African Journals Online (AJOL)

    Conventional methods for DNA acquisition and storage require expensive reagents and equipments. Experimental fields located in remote areas and large sample size presents greater challenge to developing country institutions constrained financially. FTATM technology uses a single format utilizing basic tools found in ...

  4. XD Metrics on Demand Value Analytics: Visualizing the Impact of Internal Information Technology Investments on External Funding, Publications, and Collaboration Networks

    Directory of Open Access Journals (Sweden)

    Olga Scrivner

    2018-01-01

    Full Text Available Many universities invest substantial resources in the design, deployment, and maintenance of campus-based cyberinfrastructure (CI. To justify the expense, it is important that university administrators and others understand and communicate the value of these internal investments in terms of scholarly impact. This paper introduces two visualizations and their usage in the Value Analytics (VA module for Open XD metrics on demand (XDMoD, which enable analysis of external grant funding income, scholarly publications, and collaboration networks. The VA module was developed by Indiana University’s (IU Research Technologies division, Pervasive Technology Institute, and the CI for Network Science Center (CNS, in conjunction with the University at Buffalo’s Center for Computational Research. It provides diverse visualizations of measures of information technology (IT usage, external funding, and publications in support of IT strategic decision-making. This paper details the data, analysis workflows, and visual mappings used in two VA visualizations that aim to communicate the value of different IT usage in terms of NSF and NIH funding, resulting publications, and associated research collaborations. To illustrate the feasibility of measuring IT values on research, we measured its financial and academic impact from the period between 2012 and 2017 for IU. The financial return on investment (ROI is measured in terms of IU funding, totaling $339,013,365 for 885 NIH and NSF projects associated with IT usage, and the academic ROI constitutes 968 publications associated with 83 of these NSF and NIH awards. In addition, the results show that Medical Specialties, Brain Research, and Infectious Diseases are the top three scientific disciplines ranked by the number of publications during the given time period.

  5. Incorporating technology-based learning tools into teaching and learning of optimization problems

    Science.gov (United States)

    Yang, Irene

    2014-07-01

    The traditional approach of teaching optimization problems in calculus emphasizes more on teaching the students using analytical approach through a series of procedural steps. However, optimization normally involves problem solving in real life problems and most students fail to translate the problems into mathematic models and have difficulties to visualize the concept underlying. As an educator, it is essential to embed technology in suitable content areas to engage students in construction of meaningful learning by creating a technology-based learning environment. This paper presents the applications of technology-based learning tool in designing optimization learning activities with illustrative examples, as well as to address the challenges in the implementation of using technology in teaching and learning optimization. The suggestion activities in this paper allow flexibility for educator to modify their teaching strategy and apply technology to accommodate different level of studies for the topic of optimization. Hence, this provides great potential for a wide range of learners to enhance their understanding of the concept of optimization.

  6. Optimal purification technology of ultrapure water for instrumental analysis

    International Nuclear Information System (INIS)

    Ishii, Naoe

    2011-01-01

    Purified water is one of the most commonly utilized reagents in the laboratory. It is used throughout experimental protocols in virtually every type of laboratory application : as blanks, for the dissolution and dilution of samples, the dilution of standards, preparation of mobile phases and for media and buffer preparation. Contaminants present in purified water can therefore have a significant impact on results. Hence, it is important to ensure that the laboratory water-purification system contains a combination of purification technologies to target specific impurities related to each application. This article looks at some of these technologies and their relevance for specific applications, such as HPLC, LC/MS, and ion chromatography (IC). (author)

  7. Renewable energy technologies for irrigation water pumping in India: projected levels of dissemination, energy delivery and investment requirements using available diffusion models

    Energy Technology Data Exchange (ETDEWEB)

    Pallav Purohit; Kandpal, T.C. [Indian Institute of Technology, New Delhi (India). Centre for Energy Studies

    2005-12-01

    Using the past diffusion trends of four renewable energy technologies for irrigation water pumping in India (SPV pumps, windmill pumps and biogas/producer gas driven dual fuel engine pumps), results of an attempt to project their future dissemination levels, have been presented in this study. The likely contribution of the renewable energy options considered in the study to the projected energy demand for irrigation water pumping in India has been estimated. Estimates of the associated investment requirements taking into account the learning effect have also been presented. (author)

  8. Using BIM Technology to Optimize the Traditional Interior Design Work Mode

    Science.gov (United States)

    Zhu, Ning Ke

    2018-06-01

    the development of BIM technology and application in the field of architecture design has produced results, but BIM technology and application in the field of interior design is still immaturity because of construction and decoration engineering separation. The article analyzes the problems that BIM technology lead to the interior design work mode optimization, from the 3D visualization work environment, real-time collaborative design mode, physical analysis design mode, information integration design mode state the application in interior design.

  9. [Optimization of stir-baking with vinegar technology for Curcumae Radix by orthogonal test].

    Science.gov (United States)

    Shi, Dianhua; Su, Benzheng; Sun, Lili; Zhang, Jun; Qu, Yongsheng

    2011-05-01

    To optimize the stir-baking with vinegar technology for Curcumae Radix. The intrinsic quality (the content of Curcumin) and traditional outward appearance were chosen as indexes. The best technology was determined by orthogonal test L9 (3(4)). The factors of the moistening time, stir-baking temperature and stir-baking time were investigated. The optimal technology was as follows: the quantity of vinegar was 10%, the moistening time was 10 min, the stir-baking temperature was 130 degrees C and the stir-baking time was 10 min. The optimal stir-baking with vinegar technology for Curcumae Radix is reasonable, which can be used to guide the standardized production of Curcumae Radix stir-baked with vinegar.

  10. Success probability orientated optimization model for resource allocation of the technological innovation multi-project system

    Institute of Scientific and Technical Information of China (English)

    Weixu Dai; Weiwei Wu; Bo Yu; Yunhao Zhu

    2016-01-01

    A success probability orientated optimization model for resource al ocation of the technological innovation multi-project system is studied. Based on the definition of the technological in-novation multi-project system, the leveling optimization of cost and success probability is set as the objective of resource al ocation. The cost function and the probability function of the optimization model are constructed. Then the objective function of the model is constructed and the solving process is explained. The model is applied to the resource al ocation of an enterprise’s technological innovation multi-project system. The results show that the pro-posed model is more effective in rational resource al ocation, and is more applicable in maximizing the utility of the technological innovation multi-project system.

  11. Valuing the attributes of renewable energy investments

    International Nuclear Information System (INIS)

    Bergmann, Ariel; Hanley, Nick; Wright, Robert

    2006-01-01

    Increasing the proportion of power derived from renewable energy sources is becoming an increasingly important part of many countries' strategies to achieve reductions in greenhouse gas emissions. However, renewable energy investments can often have external costs and benefits, which need to be taken into account if socially optimal investments are to be made. This paper attempts to estimate the magnitude of these external costs and benefits for the case of renewable technologies in Scotland, a country which has set particularly ambitious targets for expanding renewable energy. The external effects we consider are those on landscape quality, wildlife and air quality. We also consider the welfare implications of different investment strategies for employment and electricity prices. The methodology used to do this is the choice experiment technique. Renewable technologies considered include hydro, on-shore and off-shore wind power and biomass. Welfare changes for different combinations of impacts associated with different investment strategies are estimated. We also test for differences in preferences towards these impacts between urban and rural communities, and between high- and low-income households. (author)

  12. Valuing the attributes of renewable energy investments

    Energy Technology Data Exchange (ETDEWEB)

    Bergmann, Ariel [Economics Department, University of Glasgow, Adam Smith Building, Glasgow G12 8RT (United Kingdom); Hanley, Nick; Wright, Robert [Economics Department, University of Stirling, Stirling FK9 4LA, Scotland (United Kingdom)

    2006-06-15

    Increasing the proportion of power derived from renewable energy sources is becoming an increasingly important part of many countries' strategies to achieve reductions in greenhouse gas emissions. However, renewable energy investments can often have external costs and benefits, which need to be taken into account if socially optimal investments are to be made. This paper attempts to estimate the magnitude of these external costs and benefits for the case of renewable technologies in Scotland, a country which has set particularly ambitious targets for expanding renewable energy. The external effects we consider are those on landscape quality, wildlife and air quality. We also consider the welfare implications of different investment strategies for employment and electricity prices. The methodology used to do this is the choice experiment technique. Renewable technologies considered include hydro, on-shore and off-shore wind power and biomass. Welfare changes for different combinations of impacts associated with different investment strategies are estimated. We also test for differences in preferences towards these impacts between urban and rural communities, and between high- and low-income households. (author)

  13. Technology Transfer in Poland: An Investment of U.S. Government, U.S. Corporate, and Polish Government Strategies

    National Research Council Canada - National Science Library

    Hays, Susan

    1998-01-01

    This case study examines how U.S. Government (USG) policy, U.S. corporate policy, and Polish government policy affect the strategy of technology transfer of military and/or dual-use technologies in Poland...

  14. Inconsistent Investment and Consumption Problems

    DEFF Research Database (Denmark)

    Kronborg, Morten Tolver; Steffensen, Mogens

    2015-01-01

    In a traditional Black–Scholes market we develop a verification theorem for a general class of investment and consumption problems where the standard dynamic programming principle does not hold. The theorem is an extension of the standard Hamilton–Jacobi–Bellman equation in the form of a system...... of non-linear differential equations. We derive the optimal investment and consumption strategy for a mean-variance investor without pre-commitment endowed with labor income. In the case of constant risk aversion it turns out that the optimal amount of money to invest in stocks is independent of wealth...... of future labor income net of consumption. Using the verification theorem we give a detailed analysis of this problem. It turns out that the optimal amount of money to invest in stocks is given by a linear function of wealth plus the financial value of future labor income net of consumption. The optimal...

  15. Optimization of accelerator-driven technology for LWR waste transmutation

    International Nuclear Information System (INIS)

    Bowman, C.D.

    1996-01-01

    The role of accelerator-driven transmutation technology is examined in the context of the destruction of actinide waste from commercial light water reactors. It is pointed out that the commercial plutonium is much easier to use for entry-level nuclear weapons than weapons plutonium. Since commercial plutonium is easier to use, since there is very much more of it already, and since it is growing rapidly, the permanent disposition of commercial plutonium is an issue of greater importance than weapons plutonium. The minor actinides inventory, which may be influenced by transmutation, is compared in terms of nuclear properties with commercial and weapons plutonium and for possible utility as weapons material. Fast and thermal spectrum systems are compared as means for destruction of plutonium and the minor actinides. it is shown that the equilibrium fast spectrum actinide inventory is about 100 times larger than for thermal spectrum systems, and that there is about 100 times more weapons-usable material in the fast spectrum system inventory compared to the thermal spectrum system. Finally it is shown that the accelerator size for transmutation can be substantially reduced by design which uses the accelerator-produced neutrons only to initiate the unsustained fission chains characteristic of the subcritical system. The analysis argues for devoting primary attention to the development of thermal spectrum transmutation technology. A thermal spectrum transmuter operating at a fission power of 750-MWth fission power, which is sufficient to destroy the actinide waste from one 3,000-MWth light water reactor, may be driven by a proton beam of 1 GeV energy and a current of 7 mA. This accelerator is within the range of realizable cyclotron technology and is also near the size contemplated for the next generation spallation neutron source under consideration by the US, Europe, and Japan

  16. FIELD TESTING & OPTIMIZATION OF CO2/SAND FRACTURING TECHNOLOGY

    Energy Technology Data Exchange (ETDEWEB)

    Raymond L. Mazza

    2004-11-30

    These contract efforts involved the demonstration of a unique liquid free stimulation technology which was, at the beginning of these efforts, in 1993 unavailable in the US. The process had been developed, and patented in Canada in 1981, and held promise for stimulating liquid sensitive reservoirs in the US. The technology differs from that conventionally used in that liquid carbon dioxide (CO{sub 2}), instead of water is the base fluid. The CO{sub 2} is pumped as a liquid and then vaporizes at reservoir conditions, and because no other liquids or chemicals are used, a liquid free fracture is created. The process requires a specialized closed system blender to mix the liquid CO{sub 2} with proppant under pressure. These efforts were funded to consist of up to 21 cost-shared stimulation events. Because of the vagaries of CO{sub 2} supplies, service company support and operator interest only 19 stimulation events were performed in Montana, New Mexico, and Texas. Final reports have been prepared for each of the four demonstration groups, and the specifics of those demonstrations are summarized. A summary of the demonstrations of a novel liquid-free stimulation process which was performed in four groups of ''Candidate Wells'' situated in Crockett Co., TX; San Juan Co., NM; Phillips Co., MT; and Blaine Co., MT. The stimulation process which employs CO{sub 2} as the working fluid and the production responses were compared with those from wells treated with conventional stimulation technologies, primarily N{sub 2} foam, excepting those in Blaine Co., MT where the reservoir pressure is too low to clean up spent stimulation liquids. A total of 19 liquid-free CO{sub 2}/sand stimulations were performed in 16 wells and the production improvements were generally uneconomic.

  17. Optimization of Remediation Conditions using Vadose Zone Monitoring Technology

    Science.gov (United States)

    Dahan, O.; Mandelbaum, R.; Ronen, Z.

    2010-12-01

    Success of in-situ bio-remediation of the vadose zone depends mainly on the ability to change and control hydrological, physical and chemical conditions of subsurface. These manipulations enables the development of specific, indigenous, pollutants degrading bacteria or set the environmental conditions for seeded bacteria. As such, the remediation efficiency is dependent on the ability to implement optimal hydraulic and chemical conditions in deep sections of the vadose zone. Enhanced bioremediation of the vadose zone is achieved under field conditions through infiltration of water enriched with chemical additives. Yet, water percolation and solute transport in unsaturated conditions is a complex process and application of water with specific chemical conditions near land surface dose not necessarily result in promoting of desired chemical and hydraulic conditions in deeper sections of the vadose zone. A newly developed vadose-zone monitoring system (VMS) allows continuous monitoring of the hydrological and chemical properties of the percolating water along deep sections of the vadose zone. Implementation of the VMS at sites that undergoes active remediation provides real time information on the chemical and hydrological conditions in the vadose zone as the remediation process progresses. Manipulating subsurface conditions for optimal biodegradation of hydrocarbons is demonstrated through enhanced bio-remediation of the vadose zone at a site that has been contaminated with gasoline products in Tel Aviv. The vadose zone at the site is composed of 6 m clay layer overlying a sandy formation extending to the water table at depth of 20 m bls. The upper 5 m of contaminated soil were removed for ex-situ treatment, and the remaining 15 m vadose zone is treated in-situ through enhanced bioremedaition. Underground drip irrigation system was installed below the surface on the bottom of the excavation. Oxygen and nutrients releasing powder (EHCO, Adventus) was spread below the

  18. Technology and the environment: the case for optimism

    International Nuclear Information System (INIS)

    Matt Ridley

    2002-01-01

    The author shows that the introduction of new technologies is not necessarily a threat to the environment; rather it is usually the best hope of environmental improvement. In other words, de-carbonisation of the world economy, accompanied by a shift from dirty to cleaner technologies, is occurring without any political direction. It is driven by human inventiveness. These kinds of ideas are derided by environmentalists as 'technical fixes'. They would much prefer that we cut CO 2 emissions at source. Yet actually it was technical fixes that saved the whales, the woods and the wild game before. I predict that we will survive global warming and that we will do so no thanks to treaties, global energy policies, or consumer restraint. Instead we will de-carbonise our economy with new inventions. Inventions that the environmental movement will mostly oppose. For instance, the shift to natural gas in power generation was almost universally derided by greens as a dangerous move: the notorious 'dash for gas'. Why? Gas does not need men working underground in black tunnels; it does not spill and make slicks; it is the least carbon-rich fossil fuel of all; it can be transported very cheaply in pipes; it can be burned in combined cycle turbines producing 20 or 30% more conversion efficiency than any other fuel. And, above all, it does not require the despoliation of the landscape with forests of hideous, uneconomic, unreliable, unecological, taxpayer-subsidised, concrete-hungry, golden-eagle chopping wind turbines. To replace natural gas with solar, wind, hydro or tidal power, with their insatiable demands on large acreages of our precious landscapes, would not, in my view, be green

  19. LOCAL MEASUREMENTS OF THE IMPACT OF QUANTITATIVE AND QUALITATIVE CHARACTERISTICS OF INVESTMENT AND TECHNOLOGICAL DECISIONS ON THE ENVIRONMENT UNDER THE RISK-RELATED CONDITIONS OF MINING INDUSTRY

    Directory of Open Access Journals (Sweden)

    Valentin VELEV

    2010-09-01

    Full Text Available The impact of globalization in a worldwide scale is even more noticeable in the each country during period of world economic crisis due to the differences in the economic status, deformed by the crisis phenomena. In that case, the conflict between global tendencies and local manifestations in the regional aspect of economic phenomena is even more evidently noticeable as a direct reflection of the resource deficiency. The mineral resources are directly related to that process, not only as a first phase of the transformation of the raw material potential for each country, but also as a serious violator of the ecological equilibrium as a result of the applied technologies. Each country is enforced to resolve the various issues related to preserving the own resource potential as much as possible and to subordinate its investment and technological decisions to an integrated and in-depth utilization in compliance with the sustainable development of society

  20. Analysis of stage-investing strategy in equity financing market

    Institute of Scientific and Technical Information of China (English)

    XUN Minghui

    2007-01-01

    Stage-investing strategy is a primary measure to mitigate asymmetric information during equity investment. This paper attempts to investigate the problem faced by equity investors wishing to make optimal investment decision under stage-investing strategy.A serial investment-decision making model will be designed to help investors to take the best choice.

  1. Value-creating investment strategies to manage risk from structural market uncertainties: Switching and compound options in (V)HTR technologies - HTR2008-58157

    International Nuclear Information System (INIS)

    Lauferts, U.; Halbe, C.; Van Heek, A.

    2008-01-01

    To measure the value of a technology investment under uncertainty with standard techniques like net present value (NPV) or return on investment (ROI) will often uncover the difficulty to present convincing business case. Projected cash flows are inefficient or the discount rate chosen to compensate for the risk is so high, that it is disagreeable to the investor s requirements. Decision making and feasibility studies have to look beyond traditional analysis to reveal the strategic value of a technology investment. Here, a Real Option Analysis (ROA) offers a powerful alternative to standard discounted cash-flow (DCF) methodology by risk-adjusting the cash flow along the decision path rather than risk adjusting the discount rate. Within the GEN IV initiative attention is brought not only towards better sustainability, but also to broader industrial application and improved financing. Especially the HTR design is full of strategic optionalities: The high temperature output facilitates penetration into other non-electricity energy markets like industrial process heat applications and the hydrogen market. The flexibility to switch output in markets with multi-source uncertainties reduces downside risk and creates an additional value of over 50% with regard to the Net Present Value without flexibility. The supplement value of deploying a modular (V)HTR design adds over 100% to the project value using real option evaluation tools. Focus of this paper was to quantify the strategic value that comes along a) with the modular design; a design that offers managerial flexibility adapting a step-by-step investment strategy to the actual market demand and b) with the option to switch between two modes of operation, namely electricity and hydrogen production. We will demonstrate that the effect of uncertain electricity prices can be dampened down with a modular HTR design. By using a real option approach, we view the project as a series of compound options - each option depending

  2. New Joining Technology for Optimized Metal/Composite Assemblies

    Directory of Open Access Journals (Sweden)

    Holger Seidlitz

    2014-01-01

    Full Text Available The development of a new joining technology, which is used to manufacture high strength hybrid constructions with thermoplastic composites (FRP and metals, is introduced. Similar to natural regulation effects at trees, fibers around the FRP joint become aligned along the lines of force and will not be destroyed by the joining process. This is achieved by the local utilization of the specific plastic flow properties of the FRT and metal component. Compared with usual joining methods—such as flow drill screws, blind and self-piercing rivets—noticeably higher tensile properties can be realized through the novel process management. The load-bearing capability increasing effect could be proved on hybrid joints with hot-dip galvanized steel HX420LAD and orthotropic glass—as well as carbon—fiber reinforced plastics. The results, which were determined in tensile-shear and cross-shear tests according to DIN EN ISO 14273 and DIN EN ISO 14272, are compared with holding loads of established joining techniques with similar joining point diameter and material combinations.

  3. Optimal environmental benefits of utilising alternative energy technologies in Jordan

    International Nuclear Information System (INIS)

    Mrayyan, B.

    2004-01-01

    With rapid population growth and increase in industrial activities, more energy is consumed, resulting in environmental pollution and economic difficulties. Therefore, the need for utilising renewable energy resources has emerged. Although Jordan does not have adequate fuel supplies (90% of its crude oil is imported), it is gifted with alternative resources. Because of the political and economical constraints that hinder the import of crude oil from neighbouring countries and of the fact that Jordan has limited fossil fuel resources, strategies to meet energy demand are being addressed and examined together with their consequences and the ways in which they could be utilised. This paper assesses for the first time, the potential of using alternative energy technologies in Jordan, including the utilisation of solar energy for water heating, for wind towers in rural areas and also for biogas production from waste. Approximately 2% of unconventional renewable energy resources are being utilised. The data and scenarios of this study were presented in a manner that would assist decision makers, funding agencies, researchers and other related parties to establish programmes that will be helpful in meeting the energy demand, while preserving the environment and maintaining sustainability. (author)

  4. Optimization of Strategies and Models Review for Optimal Technologies - Based On Fuzzy Schemes for Green Architecture

    OpenAIRE

    Ghada Elshafei; Abdelazim Negm

    2015-01-01

    Recently, the green architecture becomes a significant way to a sustainable future. Green building designs involve finding the balance between comfortable homebuilding and sustainable environment. Moreover, the utilization of the new technologies such as artificial intelligence techniques are used to complement current practices in creating greener structures to keep the built environment more sustainable. The most common objectives in green buildings should be designed t...

  5. Financing Investment

    DEFF Research Database (Denmark)

    Hirth, Stefan; Flor, Christian Riis

    Intuition suggests that corporate investment should be decreasing in financing constraints. We show that even when financing is obtained using a standard debt contract and there is symmetric information between the firm and outside investors, the relation is actually U-shaped. We thus provide a new...... theoretical explanation for the recent empirical findings of Cleary et al. (2007). We split up the endogenously implied financing costs and propose a trade-off between expected liquidation costs and second-best investment costs. For rather unconstrained firms, the risk of costly liquidation dominates the cost...

  6. Investing in efficient industrial boiler systems in China and Vietnam

    International Nuclear Information System (INIS)

    Yang Ming; Dixon, Robert K.

    2012-01-01

    Energy efficiency in industrial boiler steam systems can be very low due to old technologies, improper design and non-optimal operation of the steam systems. Solutions include efficiency assessments and investments in steam system optimizations, education and training for operators of the systems. This paper presents case studies on assessing and investing in boiler steam systems in China and Vietnam. Methodologies and approaches for data collection and analyses were designed specifically for each of the two countries. This paper concludes: (1) investing in energy efficiency in industrial boiler steam system in China and Vietnam are cost effective; (2) government should not sent national energy efficiency standards lower than that of energy companies or energy equipment manufactures. - Highlights: ► GEF successfully catalyzed investment in industrial energy efficiency boilers in China in 1990s. ► With about $100 million of investment by the GEF/World Bank/Chinese government, the project will mitigate 40 million tons of CO 2 by 2019. ► This generated lowest unit cost of carbon reduction in the world: about $2.5 per ton of CO 2 mitigation. ► Investing in energy efficiency in industrial boiler steam system today in Vietnam will be the same cost effective as in China: $2.1 per ton of CO 2 mitigation.

  7. Integrated design and optimization of technologies for utilizing low grade heat in process industries

    International Nuclear Information System (INIS)

    Kwak, Dong-Hun; Binns, Michael; Kim, Jin-Kuk

    2014-01-01

    Highlights: • Implementation of a modeling and design framework for the utilization of low grade heat. • Application of process simulator and optimization techniques for the design of technologies for heat recovery. • Systematic and holistic exploitation for the recovery of industrial low grade heat. • Demonstration of the applicability and benefit of integrated design and optimization framework through a case study. - Abstract: The utilization of low grade heat in process industries has significant potential for improving site-wide energy efficiency. This paper focuses on the techno-economic analysis of key technologies for energy recovery and re-use, namely: Organic Rankine Cycles (ORC), boiler feed water heating, heat pumping and absorption refrigeration in the context of process integration. Process modeling and optimization in a holistic manner identifies the optimal integrated configuration of these technologies, with rigorous assessment of costs and technical feasibility of these technologies. For the systematic screening and evaluation of design options, detailed process simulator models are evaluated and optimization proceeds subject to design constraints for the particular economic scenarios where technology using low grade heat is introduced into the process site. Case studies are presented to illustrate how the proposed modeling and optimization framework can be useful and effective in practice, in terms of providing design guidelines and conceptual insights for the application of technologies using low grade heat. From the case study, the best options during winter are the ORC giving a 6.4% cost reduction for the ideal case with low grade heat available at a fixed temperature and boiler feed water heating giving a 2.5% cost reduction for the realistic case with low grade heat available at a range of temperatures. Similarly during summer boiler feed water heating was found to be the best option giving a 3.1% reduction of costs considering a

  8. Inducing low-carbon investment in the electric power industry through a price floor for emissions trading

    International Nuclear Information System (INIS)

    Brauneis, Alexander; Mestel, Roland; Palan, Stefan

    2013-01-01

    Uncertainty about long-term climate policy is a major driving force in the evolution of the carbon market price. Since this price enters the investment decision process of regulated firms, this uncertainty increases the cost of capital for investors and might deter investments into new technologies at the company level. We apply a real options-based approach to assess the impact of climate change policy in the form of a constant or growing price floor on investment decisions of a single firm in a competitive environment. This firm has the opportunity to switch from a high-carbon “dirty” technology to a low-carbon “clean” technology. Using Monte Carlo simulation and dynamic programming techniques for real data, we determine the optimal CO 2 price floor level and growth rate in order to induce investments into the low-carbon technology. We find that a carbon price floor can be used to induce earlier low-carbon technology investment and show this result to be robust to a large variety of input parameter settings. - Highlights: ► We model the investment decision of an electricity generating company. ► The company can invest in low and high carbon technologies. ► We investigate different carbon price floor designs. ► A carbon price floor leads to earlier investment into low-carbon technology.

  9. [Optimization of processing technology for semen cuscuta by uniform and regression analysis].

    Science.gov (United States)

    Li, Chun-yu; Luo, Hui-yu; Wang, Shu; Zhai, Ya-nan; Tian, Shu-hui; Zhang, Dan-shen

    2011-02-01

    To optimize the best preparation technology for the contains of total flavornoids, polysaccharides, the percentage of water and alcohol-soluble components in Semen Cuscuta herb processing. UV-spectrophotometry was applied to determine the contains of total flavornoids and polysaccharides, which were extracted from Semen Cuscuta. And the processing was optimized by the way of uniform design and contour map. The best preparation technology was satisfied with some conditions as follows: baking temperature 150 degrees C, baking time 140 seconds. The regression models are notable and reasonable, which can forecast results precisely.

  10. Production technology optimization of biscuit baked by electric-contact way

    Science.gov (United States)

    Sidorenko, G. A.; Popov, V. P.; Khanina, T. V.; Maneeva, E. Sh; Krasnova, M. S.

    2018-03-01

    Electric-contact way of baking allows one to maintain more nutrients used in biscuit making. As a result of the biscuit production technology optimization, it is established that 30-62,5% is an optimal amount of starch brought instead of flour; 184-200% is optimal amount of egg melange; at this a complex indicator of organoleptic properties will be more than 340 degrees, a complex indicator of physical and chemical properties will be more than 3,3 degrees, and specific costs of energy spent on the biscuit electric-contact baking process will be less than 100 W/kg.

  11. Optimum investment strategy in the power industry mathematical models

    CERN Document Server

    Bartnik, Ryszard; Hnydiuk-Stefan, Anna

    2016-01-01

    This book presents an innovative methodology for identifying optimum investment strategies in the power industry. To do so, it examines results including, among others, the impact of oxy-fuel technology on CO2 emissions prices, and the specific cost of electricity production. The technical and economic analysis presented here extend the available knowledge in the field of investment optimization in energy engineering, while also enabling investors to make decisions involving its application. Individual chapters explore the potential impacts of different factors like environmental charges on costs connected with investments in the power sector, as well as discussing the available technologies for heat and power generation. The book offers a valuable resource for researchers, market analysts, decision makers, power engineers and students alike.

  12. Including investment risk in large-scale power market models

    DEFF Research Database (Denmark)

    Lemming, Jørgen Kjærgaard; Meibom, P.

    2003-01-01

    Long-term energy market models can be used to examine investments in production technologies, however, with market liberalisation it is crucial that such models include investment risks and investor behaviour. This paper analyses how the effect of investment risk on production technology selection...... can be included in large-scale partial equilibrium models of the power market. The analyses are divided into a part about risk measures appropriate for power market investors and a more technical part about the combination of a risk-adjustment model and a partial-equilibrium model. To illustrate...... the analyses quantitatively, a framework based on an iterative interaction between the equilibrium model and a separate risk-adjustment module was constructed. To illustrate the features of the proposed modelling approach we examined how uncertainty in demand and variable costs affects the optimal choice...

  13. The Contextualized Technology Adaptation Process (CTAP): Optimizing Health Information Technology to Improve Mental Health Systems.

    Science.gov (United States)

    Lyon, Aaron R; Wasse, Jessica Knaster; Ludwig, Kristy; Zachry, Mark; Bruns, Eric J; Unützer, Jürgen; McCauley, Elizabeth

    2016-05-01

    Health information technologies have become a central fixture in the mental healthcare landscape, but few frameworks exist to guide their adaptation to novel settings. This paper introduces the contextualized technology adaptation process (CTAP) and presents data collected during Phase 1 of its application to measurement feedback system development in school mental health. The CTAP is built on models of human-centered design and implementation science and incorporates repeated mixed methods assessments to guide the design of technologies to ensure high compatibility with a destination setting. CTAP phases include: (1) Contextual evaluation, (2) Evaluation of the unadapted technology, (3) Trialing and evaluation of the adapted technology, (4) Refinement and larger-scale implementation, and (5) Sustainment through ongoing evaluation and system revision. Qualitative findings from school-based practitioner focus groups are presented, which provided information for CTAP Phase 1, contextual evaluation, surrounding education sector clinicians' workflows, types of technologies currently available, and influences on technology use. Discussion focuses on how findings will inform subsequent CTAP phases, as well as their implications for future technology adaptation across content domains and service sectors.

  14. The Contextualized Technology Adaptation Process (CTAP): Optimizing Health Information Technology to Improve Mental Health Systems

    Science.gov (United States)

    Lyon, Aaron R.; Wasse, Jessica Knaster; Ludwig, Kristy; Zachry, Mark; Bruns, Eric J.; Unützer, Jürgen; McCauley, Elizabeth

    2015-01-01

    Health information technologies have become a central fixture in the mental healthcare landscape, but few frameworks exist to guide their adaptation to novel settings. This paper introduces the Contextualized Technology Adaptation Process (CTAP) and presents data collected during Phase 1 of its application to measurement feedback system development in school mental health. The CTAP is built on models of human-centered design and implementation science and incorporates repeated mixed methods assessments to guide the design of technologies to ensure high compatibility with a destination setting. CTAP phases include: (1) Contextual evaluation, (2) Evaluation of the unadapted technology, (3) Trialing and evaluation of the adapted technology, (4) Refinement and larger-scale implementation, and (5) Sustainment through ongoing evaluation and system revision. Qualitative findings from school-based practitioner focus groups are presented, which provided information for CTAP Phase 1, contextual evaluation, surrounding education sector clinicians’ workflows, types of technologies currently available, and influences on technology use. Discussion focuses on how findings will inform subsequent CTAP phases, as well as their implications for future technology adaptation across content domains and service sectors. PMID:25677251

  15. Investing for upgrading: the emergence of financial system of science and technology in China’s Pearl River Delta

    OpenAIRE

    XIAODONG WANG; CHRISTOF MORSCHER

    2016-01-01

    This article discusses the recent reform policy in China on setting up new financial system for supporting science and technology innovation. Based on the financial sector development in the Pearl River Delta in China’s Guangdong Province, especially Guangzhou, one pilot city of Chinese Science and Technology Financial System Reform, the article analyses the problems in financial system and makes some suggestion on how to restructure the financial system to meet the financial need of local em...

  16. Vehicle routing problem in investment fund allocation

    Science.gov (United States)

    Mamat, Nur Jumaadzan Zaleha; Jaaman, Saiful Hafizah; Ahmad, Rokiah Rozita; Mohd, Ismail

    2013-04-01

    Since its introduction by Dantzig and Ramser in 1959, vehicle routing problem keeps evolving in theories, applications and variability. The evolution in computing and technology are also important contributors to research in solving vehicle routing problem. The main sectors of interests among researchers and practitioners for vehicle routing problem are transportation, distribution and logistics. However, literature found that concept and benefits of vehicle routing problem are not taken advantages of by researchers in the field of investment. Other methods found used in investment include multi-objective programming, linear programming, goal programming and integer programming. Yet the application of vehicle routing problem is not fully explored. A proposal on a framework of the fund allocation optimization using vehicle routing problem is presented here. Preliminary results using FTSE Bursa Malaysia data testing the framework are also given.

  17. Optimal exploitation of a renewable resource with stochastic nonconvex technology: An analysis of extinction and survival

    International Nuclear Information System (INIS)

    Mitra, Tapan; Roy, Santanu

    1992-11-01

    This paper analyzes the possibilities of extinction and survival of a renewable resource whose technology of reproduction is both stochastic and nonconvex. In particular, the production function is subject to random shocks over time and is allowed to be nonconcave, though it eventually exhibits bounded growth. The existence of a minimum biomass below which the resource can only decrease, is allowed for. Society harvests a part of the current stock every time period over an infinite horizon so as to maximize the expected discounted sum of one period social utilities from the harvested resource. The social utility function is strictly concave. The stochastic process of optimal stocks generated by the optimal stationary policy is analyzed. The nonconvexity in the optimization problem implies that the optimal policy functions are not 'well behaved'. The behaviour of the probability of extinction (and the expected time to extinction), as a function of initial stock, is characterized for various possible configurations of the optimal policy and the technology. Sufficient conditions on the utility and production functions and the rate of impatience, are specified in order to ensure survival of the resource with probability one from some stock level (the minimum safe standard of conservation). Sufficient conditions for almost sure extinction and almost sure survival from all stock levels are also specified. These conditions are related to the corresponding conditions derived in models with deterministic and/or convex technology. 4 figs., 29 refs

  18. Optimal exploitation of a renewable resource with stochastic nonconvex technology: An analysis of extinction and survival

    Energy Technology Data Exchange (ETDEWEB)

    Mitra, Tapan [Department of Economics, Cornell University, Ithaca, NY (United States); Roy, Santanu [Econometric Institute, Erasmus University, Rotterdam (Netherlands)

    1992-11-01

    This paper analyzes the possibilities of extinction and survival of a renewable resource whose technology of reproduction is both stochastic and nonconvex. In particular, the production function is subject to random shocks over time and is allowed to be nonconcave, though it eventually exhibits bounded growth. The existence of a minimum biomass below which the resource can only decrease, is allowed for. Society harvests a part of the current stock every time period over an infinite horizon so as to maximize the expected discounted sum of one period social utilities from the harvested resource. The social utility function is strictly concave. The stochastic process of optimal stocks generated by the optimal stationary policy is analyzed. The nonconvexity in the optimization problem implies that the optimal policy functions are not `well behaved`. The behaviour of the probability of extinction (and the expected time to extinction), as a function of initial stock, is characterized for various possible configurations of the optimal policy and the technology. Sufficient conditions on the utility and production functions and the rate of impatience, are specified in order to ensure survival of the resource with probability one from some stock level (the minimum safe standard of conservation). Sufficient conditions for almost sure extinction and almost sure survival from all stock levels are also specified. These conditions are related to the corresponding conditions derived in models with deterministic and/or convex technology. 4 figs., 29 refs.

  19. OPTIMIZATION OF THE CRITERION FOR ESTIMATING THE TECHNOLOGY EFFICIENCY OF PACKING-CASE-PIECE LOADS DELIVERY

    OpenAIRE

    O. Severyn; O. Shulika

    2017-01-01

    The results of optimization of gravimetric coefficients for indexes included in the integral criterion of estimation of the efficiency of transport-technological charts of cargo delivery are resulted. The values of gravimetric coefficients are determined on the basis of two methods of experimental researches: questioning of respondents among the specialists of motor transport production and imitation design.

  20. The Relationship among Principals' Technology Leadership, Teaching Innovation, and Students' Academic Optimism in Elementary Schools

    Science.gov (United States)

    Hsieh, Chuan-Chung; Yen, Hung-Chin; Kuan, Liu-Yen

    2014-01-01

    This study empirically investigates the relationships among principals' technology leadership, teaching innovations, and students' academic optimism by surveying elementary school educators across Taiwan. Of the total 1,080 questionnaires distributed, 755 valid surveys were returned for a 69.90% return rate. Teachers were asked to indicate the…

  1. Impact of alternative harvesting technologies on thinning entry and optimal rotation age for eastern hardwoods

    Science.gov (United States)

    Chris B. LeDoux

    2007-01-01

    A complete system simulation model is used to integrate alternative logging technologies, stand data, market prices, transportation costs, and economic concerns in a longterm continuous manner to evaluate thinning entry timing and optimal rotation age. Forest Inventory and Analysis (FIA) stand data for the oak/hickory forest type and time and motion study data for 70,...

  2. Barriers to Investment in Energy-Saving Technologies in Small Firms: The Energy-Efficiency Paradox Revisited

    NARCIS (Netherlands)

    Koetse, M.J.; de Groot, H.L.F.; Nijkamp, P.

    2008-01-01

    Despite the fact that energy-saving technologies are considered profitable using standard net-present-value calculations, their adoption rates have been low, particularly in small firms. This study reviews the theoretical and empirical literature that explains this phenomenon, generally known as the

  3. Evidence on a Real Business Cycle Model with Neutral and Investment-Specific Technology Shocks using Bayesian Model Averaging

    NARCIS (Netherlands)

    R.W. Strachan (Rodney); H.K. van Dijk (Herman)

    2010-01-01

    textabstractThe empirical support for a real business cycle model with two technology shocks is evaluated using a Bayesian model averaging procedure. This procedure makes use of a finite mixture of many models within the class of vector autoregressive (VAR) processes. The linear VAR model is

  4. Structural Performance’s Optimally Analysing and Implementing Based on ANSYS Technology

    Science.gov (United States)

    Han, Na; Wang, Xuquan; Yue, Haifang; Sun, Jiandong; Wu, Yongchun

    2017-06-01

    Computer-aided Engineering (CAE) is a hotspot both in academic field and in modern engineering practice. Analysis System(ANSYS) simulation software for its excellent performance become outstanding one in CAE family, it is committed to the innovation of engineering simulation to help users to shorten the design process, improve product innovation and performance. Aimed to explore a structural performance’s optimally analyzing model for engineering enterprises, this paper introduced CAE and its development, analyzed the necessity for structural optimal analysis as well as the framework of structural optimal analysis on ANSYS Technology, used ANSYS to implement a reinforced concrete slab structural performance’s optimal analysis, which was display the chart of displacement vector and the chart of stress intensity. Finally, this paper compared ANSYS software simulation results with the measured results,expounded that ANSYS is indispensable engineering calculation tools.

  5. Sustained diffusion of renewable energy. Politically defined investment contexts for the diffusion of renewable electricity technologies in Spain, the Netherlands and United Kingdom

    International Nuclear Information System (INIS)

    Dinica, V.

    2003-01-01

    The increasing concerns regarding the security of energy supply, climate change, and the environmental-health impacts of fossil fuels' burning and nuclear energy use have consolidated the political interest in many countries to support the diffusion of renewable energy technologies. In the industrialized countries that have adopted so far policies for renewable energy support, diffusion results are mixed. The core questions that challenge policy makers and academics are: How to design policies that are effective in market introduction and able to sustain diffusion in the long-term? and: What is the impact of different policy approaches in terms of technical and cost-performance improvements of renewable energy technologies? The study addresses these questions and proposes to analyze the diffusion potential of support systems from the perspective of investors. Policy design needs to account for the investment risks associated with support schemes and the profitability they enable for investors. But, still, the effectiveness of a specific support system may not be the same across national contexts. Financing agents and economic actors have different business requirements and business culture in various countries, which influences the effects of support systems. The technical particularities of technologies may also influence the diffusion process. In order to track down influences, the book examines the market diffusion processes of three renewable electricity technologies in three countries: wind energy in Spain, the Netherlands and the United Kingdom; biomass in Spain; and small hydropower technology in Spain. The book may be particularly interesting for policy makers and policy scholars concerned with the challenge of greening the energy supply, and understanding diffusion processes and their consequences

  6. Collect, analyze and data base for building up the investment reports of Center for Nuclear Science and Technology construction project

    International Nuclear Information System (INIS)

    Pham Quang Minh; Tran Chi Thanh; Cao Dinh Thanh; Mai Dinh Trung; Hoang Sy Than; Nguyen Nhi Dien; Trinh Van Giap; Le Ba Thuan; Vu Tien Ha

    2014-01-01

    Following the Contract No.19/HD/NVCB dated July 10, 2013 signed by the President of Vietnam Atomic Energy Institute (VINATOM), an additional ministerial Project was approval by the Decision No. 526/QD-VNLNT dated July 8, 2013 by the VINATOM President in order to implement an important task for VINATOM. This project was implemented by the Institute for Nuclear Science and Technology (INST) in Hanoi as management organization and VINATOM as the owner of project results. Main objectives of this Project are to support national budget for implementing to collected the general report from previous projects which are relevant to CNEST and new research reactor, IAEA guidance documents, documents provided by ROSATOM in seminars in 2010, 2012 and 2013, report from expert visits of Ministry of Science and Technology and completed the general report about the construction project of CNEST. (author)

  7. VISUALIZATION SOFTWARE DEVELOPMENT FOR PROCEDURE OF MULTI-DIMENSIONAL OPTIMIZATION OF TECHNOLOGICAL PROCESS FUNCTIONAL PARAMETERS

    Directory of Open Access Journals (Sweden)

    E. N. Ishakova

    2016-05-01

    Full Text Available A method for multi-criteria optimization of the design parameters for technological object is described. The existing optimization methods are overviewed, and works in the field of basic research and applied problems are analyzed. The problem is formulated, based on the process requirements, making it possible to choose the geometrical dimensions of machine tips and the flow rate of the process, so that the resulting technical and economical parameters were optimal. In the problem formulation application of the performance method adapted to a particular domain is described. Task implementation is shown; the method of characteristics creation for the studied object in view of some restrictions for parameters in both analytical and graphical representation. On the basis of theoretical research the software system is developed that gives the possibility to automate the discovery of optimal solutions for specific problems. Using available information sources, that characterize the object of study, it is possible to establish identifiers, add restrictions from the one side, and in the interval as well. Obtained result is a visual depiction of dependence of the main study parameters on the others, which may have an impact on both the flow of the process, and the quality of products. The resulting optimal area shows the use of different design options for technological object in an acceptable kinematic range that makes it possible for the researcher to choose the best design solution.

  8. Promoter library-based module combination (PLMC) technology for optimization of threonine biosynthesis in Corynebacterium glutamicum.

    Science.gov (United States)

    Wei, Liang; Xu, Ning; Wang, Yiran; Zhou, Wei; Han, Guoqiang; Ma, Yanhe; Liu, Jun

    2018-05-01

    Due to the lack of efficient control elements and tools, the fine-tuning of gene expression in the multi-gene metabolic pathways is still a great challenge for engineering microbial cell factories, especially for the important industrial microorganism Corynebacterium glutamicum. In this study, the promoter library-based module combination (PLMC) technology was developed to efficiently optimize the expression of genes in C. glutamicum. A random promoter library was designed to contain the putative - 10 (NNTANANT) and - 35 (NNGNCN) consensus motifs, and refined through a three-step screening procedure to achieve numerous genetic control elements with different strength levels, including fluorescence-activated cell sorting (FACS) screening, agar plate screening, and 96-well plate screening. Multiple conventional strategies were employed for further precise characterizations of the promoter library, such as real-time quantitative PCR, sodium dodecyl sulfate polyacrylamide gel electrophoresis, FACS analysis, and the lacZ reporter system. These results suggested that the established promoter elements effectively regulated gene expression and showed varying strengths over a wide range. Subsequently, a multi-module combination technology was created based on the efficient promoter elements for combination and optimization of modules in the multi-gene pathways. Using this technology, the threonine biosynthesis pathway was reconstructed and optimized by predictable tuning expression of five modules in C. glutamicum. The threonine titer of the optimized strain was significantly improved to 12.8 g/L, an approximate 6.1-fold higher than that of the control strain. Overall, the PLMC technology presented in this study provides a rapid and effective method for combination and optimization of multi-gene pathways in C. glutamicum.

  9. Inflation Protected Investment Strategies

    Directory of Open Access Journals (Sweden)

    Mirco Mahlstedt

    2016-03-01

    Full Text Available In this paper, a dynamic inflation-protected investment strategy is presented, which is based on traditional asset classes and Markov-switching models. Different stock market, as well as inflation regimes are identified, and within those regimes, the inflation hedging potential of stocks, bonds, real estate, commodities and gold are investigated. Within each regime, we determine optimal investment portfolios driven by the investment idea of protection from losses due to changing inflation if inflation is rising or high, but decoupling the performance from inflation if inflation is low. The results clearly indicate that these asset classes behave differently in different stock market and inflation regimes. Whereas in the long-run, we agree with the general opinion in the literature that stocks and bonds are a suitable hedge against inflation, we observe for short time horizons that the hedging potential of each asset class, especially of real estate and commodities, depend strongly on the state of the current market environment. Thus, our approach provides a possible explanation for different statements in the literature regarding the inflation hedging properties of these asset classes. A dynamic inflation-protected investment strategy is developed, which combines inflation protection and upside potential. This strategy outperforms standard buy-and-hold strategies, as well as the well-known 1 N -portfolio.

  10. Investment in new product reliability

    International Nuclear Information System (INIS)

    Murthy, D.N.P.; Rausand, M.; Virtanen, S.

    2009-01-01

    Product reliability is of great importance to both manufacturers and customers. Building reliability into a new product is costly, but the consequences of inadequate product reliability can be costlier. This implies that manufacturers need to decide on the optimal investment in new product reliability by achieving a suitable trade-off between the two costs. This paper develops a framework and proposes an approach to help manufacturers decide on the investment in new product reliability.

  11. An options approach to investment in a hydrogen infrastructure

    International Nuclear Information System (INIS)

    Benthem, A.A. van; Kramer, G.J.; Ramer, R.

    2006-01-01

    This paper discusses the investments needed for the introduction of hydrogen as a transport fuel. Using option theory, we develop a model to calculate the value and optimal timing of a first commercial rollout of hydrogen vehicles in a larger area, taking Japan as a specific example. We find that the project is best viewed as an out-of-the-money call option with a small but positive option value. We estimate this value at approximately 1.5 billion euros, without tax advantages. An important finding is that the moment of investment is first and foremost determined by the maturing of the technology. By contrast, the investment timing is not as much affected by deployment strategy as is frequently thought: in particular, whether or not the hydrogen retail infrastructure is introduced smoothly does not sensitively influence the investment timing. Fairly independent of parameter assumptions, the project value at the moment of deployment is negative for the retailer and positive for the car manufacturer. This implies the need for a negotiated partnership. Finally, we assess various forms of government support, e.g. subsidies or tax cuts. Looking at the effectiveness of this support spending in relation to the advancement of hydrogen deployment, we find, again because investment timing is primarily determined by technology maturation, that tax incentives are relatively ineffective. We are lead to believe that government subsidy for technology development is a more effective means to achieve earlier investment, as faster production cost reductions for hydrogen and fuel cell vehicles lead to accelerated investment

  12. Integrating sequencing technologies in personal genomics: optimal low cost reconstruction of structural variants.

    Directory of Open Access Journals (Sweden)

    Jiang Du

    2009-07-01

    Full Text Available The goal of human genome re-sequencing is obtaining an accurate assembly of an individual's genome. Recently, there has been great excitement in the development of many technologies for this (e.g. medium and short read sequencing from companies such as 454 and SOLiD, and high-density oligo-arrays from Affymetrix and NimbelGen, with even more expected to appear. The costs and sensitivities of these technologies differ considerably from each other. As an important goal of personal genomics is to reduce the cost of re-sequencing to an affordable point, it is worthwhile to consider optimally integrating technologies. Here, we build a simulation toolbox that will help us optimally combine different technologies for genome re-sequencing, especially in reconstructing large structural variants (SVs. SV reconstruction is considered the most challenging step in human genome re-sequencing. (It is sometimes even harder than de novo assembly of small genomes because of the duplications and repetitive sequences in the human genome. To this end, we formulate canonical problems that are representative of issues in reconstruction and are of small enough scale to be computationally tractable and simulatable. Using semi-realistic simulations, we show how we can combine different technologies to optimally solve the assembly at low cost. With mapability maps, our simulations efficiently handle the inhomogeneous repeat-containing structure of the human genome and the computational complexity of practical assembly algorithms. They quantitatively show how combining different read lengths is more cost-effective than using one length, how an optimal mixed sequencing strategy for reconstructing large novel SVs usually also gives accurate detection of SNPs/indels, how paired-end reads can improve reconstruction efficiency, and how adding in arrays is more efficient than just sequencing for disentangling some complex SVs. Our strategy should facilitate the sequencing of

  13. Reliability- and performance-based robust design optimization of MEMS structures considering technological uncertainties

    Science.gov (United States)

    Martowicz, Adam; Uhl, Tadeusz

    2012-10-01

    The paper discusses the applicability of a reliability- and performance-based multi-criteria robust design optimization technique for micro-electromechanical systems, considering their technological uncertainties. Nowadays, micro-devices are commonly applied systems, especially in the automotive industry, taking advantage of utilizing both the mechanical structure and electronic control circuit on one board. Their frequent use motivates the elaboration of virtual prototyping tools that can be applied in design optimization with the introduction of technological uncertainties and reliability. The authors present a procedure for the optimization of micro-devices, which is based on the theory of reliability-based robust design optimization. This takes into consideration the performance of a micro-device and its reliability assessed by means of uncertainty analysis. The procedure assumes that, for each checked design configuration, the assessment of uncertainty propagation is performed with the meta-modeling technique. The described procedure is illustrated with an example of the optimization carried out for a finite element model of a micro-mirror. The multi-physics approach allowed the introduction of several physical phenomena to correctly model the electrostatic actuation and the squeezing effect present between electrodes. The optimization was preceded by sensitivity analysis to establish the design and uncertain domains. The genetic algorithms fulfilled the defined optimization task effectively. The best discovered individuals are characterized by a minimized value of the multi-criteria objective function, simultaneously satisfying the constraint on material strength. The restriction of the maximum equivalent stresses was introduced with the conditionally formulated objective function with a penalty component. The yielded results were successfully verified with a global uniform search through the input design domain.

  14. Supporting Optimal Aging through the Innovative Use of Virtual Reality Technology

    Directory of Open Access Journals (Sweden)

    Sally Hughes

    2017-09-01

    Full Text Available Although virtual reality (VR technology has been implemented as a tool to address the health issues of older adults, its applicability to social connectedness is underrepresented in the literature, and less is known about its efficacy in this area in contributing to overall wellness and well-being in later life. Expanding the VR possibilities beyond traditional entertainment purposes holds considerable potential for the older adult market. Technological tools have been employed in the elder health care field for many years, and cutting-edge developments such as virtual and augmented reality have begun to be used to facilitate optimal wellness in aging. Such technological advances have the potential to significantly impact one of the most important issues that older people face: social isolation and loneliness. This paper will serve as an introductory exploration of what is currently known about the use of virtual reality technology with an older cohort.

  15. Dry storage technologies: Optimized solutions for spent fuels and vitrified residues

    International Nuclear Information System (INIS)

    Roland, Vincent; Verdier, Antoine; Sicard, Damien; Neider, Tara

    2006-01-01

    ancillary equipment, Ready to move to final or centralized repository or reprocessing facility or other ISFSI, Compact systems, Easy rearrangement, Easy handling; - In favor of concrete shielded canisters based systems: Economics when initial quantity is sufficient to spread out up front equipment investment significant cost - Shielding advantage, Easy local production of the relatively light canisters. Both approaches of dry storage technologies can have a positive impact on their public acceptance because of their non-permanent characteristics and because their transport license refers to internationally recognized rules, standards and methods. Currently, more than 1,000 COGEMA Logistics/Transnuclear Inc. dry storage systems have been ordered in Belgium, Germany, Japan, Switzerland, Armenia and the US. Because of the evolution of burnup of spent fuel to be reprocessed, the high activity vitrified residues cannot be transported in the existing cask designs presently used. Therefore, COGEMA LOGISTICS has decided in the late nineties to develop a brand new design of casks with optimized capacity able to store and transport the most active and hottest canisters: the TN TM 81 casks currently in use in Switzerland and the TN TM 85 cask which shall permit in the near future in Germany the storage and the transport of the most active vitrified residues. The TN TM 81 and the TN TM 85 casks have been designed to fully anticipate shipment constraints of the present vitrified residue production in existing reprocessing facilities. They also used the feedback of current shipments and the operational constraints and experience of receiving and shipping facilities. The casks had to fit as much as possible in the existing procedures for the already existing casks such as the TN TM 28 cask and TS 28 V cask, all along the logistics chain of loading, unloading, transport and maintenance. In addition, years of feedback and experience in design and operations - together with ever improved

  16. Energising Africa: 'Leapfrogging' energy technologies can help, and so can more investment and partnerships for developing Africa's abundant resources

    International Nuclear Information System (INIS)

    Davidson, Ogunlade

    2004-01-01

    The importance of modern energy provision in African development cannot be over-emphasised, as it is the nucleus of socio-economic development worldwide. However, large numbers of Africans depend instead on firewood and charcoal, reflecting the comparatively low level of industrialisation on the continent. Moving out of this stage requires a substantial increase in cost-effective and affordable energy sources, while minimising environmental hazards and ensuring social equitability and sustainability. For Africa to be competitive, its per capita primary energy needs to be increased. In comparison with the rest of the world, Africans are among the smallest consumers of primary energy. In addition, Africa has multiple energy technologies to satisfy the needs of 30% of the population, in urban areas. The rural areas, where the remaining 70% live, have limited energy choices. It must be a priority for African governments to ensure that the rural majority has access to the same choices as those who live in urban areas

  17. Integrated Circuit Conception: A Wire Optimization Technic Reducing Interconnection Delay in Advanced Technology Nodes

    Directory of Open Access Journals (Sweden)

    Mohammed Darmi

    2017-10-01

    Full Text Available As we increasingly use advanced technology nodes to design integrated circuits (ICs, physical designers and electronic design automation (EDA providers are facing multiple challenges, firstly, to honor all physical constraints coming with cutting-edge technologies and, secondly, to achieve expected quality of results (QoR. An advanced technology should be able to bring better performances with minimum cost whatever the complexity. A high effort to develop out-of-the-box optimization techniques is more than needed. In this paper, we will introduce a new routing technique, with the objective to optimize timing, by only acting on routing topology, and without impacting the IC Area. In fact, the self-aligned double patterning (SADP technology offers an important difference on layer resistance between SADP and No-SADP layers; this property will be taken as an advantage to drive the global router to use No-SADP less resistive layers for critical nets. To prove the benefit on real test cases, we will use Mentor Graphics’ physical design EDA tool Nitro-SoC™ and several 7 nm technology node designs. The experiments show that worst negative slack (WNS and total negative slack (TNS improved up to 13% and 56%, respectively, compared to the baseline flow.

  18. The effect of optimal wall loads and blanket technologies on the cost of fusion electricity

    International Nuclear Information System (INIS)

    Knight, P.J.; Ward, D.J.

    2000-01-01

    This paper presents a discussion of trends in fusion economics based on technology, as well as, physics arguments. Based on relatively simple physics considerations, supported by detailed systems code calculations, it is shown that optimal wall loads are not high. The results of systems code calculations, focussing on the economic impact of different blanket technologies, are described. These suggest that the economically favourable thermodynamic efficiencies of some blankets capable of operating at higher temperatures may be counterbalanced by the economic penalties of shorter lifetimes

  19. Choosing The Right Technology - Optimized Design Of Renewable Supply Systems For Residential Houses

    DEFF Research Database (Denmark)

    Milan, Christian; Bojesen, Carsten; Nielsen, Mads Pagh

    2012-01-01

    The use of renewable energy sources (RES) has continuously increased throughout the last decade. In the residential building sector the trend goes towards energy supply systems based on multiple RES. This is mainly due to political requirements, governmental subsidies and fuel price development....... These systems not only require an optimal design with respect to the installed capacities but also the right choice in combining the available technologies assuring a cost-effective solution. The aim of this paper is to present an optimization methodology for residential on-site energy supply systems based...... on mixed integer linear programming. The methodology chooses the right combination of technologies and sizes the components based on on-site weather data and expected consumption profiles. Through this approach the fluctuations of RES as well as the user behavior are taken into account already during...

  20. Optimal Aging and Death

    DEFF Research Database (Denmark)

    Dalgaard, Carl-Johan Lars; Strulik, Holger

    2010-01-01

    health investments. At the same time, physiological aspects of the aging process influence optimal savings and health investment. We calibrate the model for the average US male in 2000 and proceed to show that the calibrated model accounts well for the cross-country link between labor productivity......This study introduces physiological aging into a simple model of optimal intertemporal consumption. In this endeavor we draw on the natural science literature on aging. According to the purposed theory, the speed of the aging process and the time of death are endogenously determined by optimal...... and life expectancy in the same year ("the Preston curve"); cross-country income differences can explain differences in life expectancy at age 20 of up to a decade. Moreover, technological change in health care of about 1.1% per year can account for the observed shift in the Preston curve between 1980...

  1. Adjust or invest : what is the best option to green a supply chain?

    NARCIS (Netherlands)

    Bouchery, Y.; Ghaffari, A.; Jemai, Z.; Dallery, Y.

    2011-01-01

    Greening a supply chain can be achieved by considering several options. However, companies lack of clear guidelines to assess and compare these options. In this paper, we propose to use multiobjective optimization to assess operational adjustment and technology investment options in terms of cost

  2. Design technology co-optimization for 14/10nm metal1 double patterning layer

    Science.gov (United States)

    Duan, Yingli; Su, Xiaojing; Chen, Ying; Su, Yajuan; Shao, Feng; Zhang, Recco; Lei, Junjiang; Wei, Yayi

    2016-03-01

    Design and technology co-optimization (DTCO) can satisfy the needs of the design, generate robust design rule, and avoid unfriendly patterns at the early stage of design to ensure a high level of manufacturability of the product by the technical capability of the present process. The DTCO methodology in this paper includes design rule translation, layout analysis, model validation, hotspots classification and design rule optimization mainly. The correlation of the DTCO and double patterning (DPT) can optimize the related design rule and generate friendlier layout which meets the requirement of the 14/10nm technology node. The experiment demonstrates the methodology of DPT-compliant DTCO which is applied to a metal1 layer from the 14/10nm node. The DTCO workflow proposed in our job is an efficient solution for optimizing the design rules for 14/10 nm tech node Metal1 layer. And the paper also discussed and did the verification about how to tune the design rule of the U-shape and L-shape structures in a DPT-aware metal layer.

  3. Fundamental Theories and Key Technologies for Smart and Optimal Manufacturing in the Process Industry

    Directory of Open Access Journals (Sweden)

    Feng Qian

    2017-04-01

    Full Text Available Given the significant requirements for transforming and promoting the process industry, we present the major limitations of current petrochemical enterprises, including limitations in decision-making, production operation, efficiency and security, information integration, and so forth. To promote a vision of the process industry with efficient, green, and smart production, modern information technology should be utilized throughout the entire optimization process for production, management, and marketing. To focus on smart equipment in manufacturing processes, as well as on the adaptive intelligent optimization of the manufacturing process, operating mode, and supply chain management, we put forward several key scientific problems in engineering in a demand-driven and application-oriented manner, namely: ① intelligent sensing and integration of all process information, including production and management information; ② collaborative decision-making in the supply chain, industry chain, and value chain, driven by knowledge; ③ cooperative control and optimization of plant-wide production processes via human-cyber-physical interaction; and ④ life-cycle assessments for safety and environmental footprint monitoring, in addition to tracing analysis and risk control. In order to solve these limitations and core scientific problems, we further present fundamental theories and key technologies for smart and optimal manufacturing in the process industry. Although this paper discusses the process industry in China, the conclusions in this paper can be extended to the process industry around the world.

  4. Study on key technologies of optimization of big data for thermal power plant performance

    Science.gov (United States)

    Mao, Mingyang; Xiao, Hong

    2018-06-01

    Thermal power generation accounts for 70% of China's power generation, the pollutants accounted for 40% of the same kind of emissions, thermal power efficiency optimization needs to monitor and understand the whole process of coal combustion and pollutant migration, power system performance data show explosive growth trend, The purpose is to study the integration of numerical simulation of big data technology, the development of thermal power plant efficiency data optimization platform and nitrogen oxide emission reduction system for the thermal power plant to improve efficiency, energy saving and emission reduction to provide reliable technical support. The method is big data technology represented by "multi-source heterogeneous data integration", "large data distributed storage" and "high-performance real-time and off-line computing", can greatly enhance the energy consumption capacity of thermal power plants and the level of intelligent decision-making, and then use the data mining algorithm to establish the boiler combustion mathematical model, mining power plant boiler efficiency data, combined with numerical simulation technology to find the boiler combustion and pollutant generation rules and combustion parameters of boiler combustion and pollutant generation Influence. The result is to optimize the boiler combustion parameters, which can achieve energy saving.

  5. Comparative Analysis of Investment Decision Models

    Directory of Open Access Journals (Sweden)

    Ieva Kekytė

    2017-06-01

    Full Text Available Rapid development of financial markets resulted new challenges for both investors and investment issues. This increased demand for innovative, modern investment and portfolio management decisions adequate for market conditions. Financial market receives special attention, creating new models, includes financial risk management and investment decision support systems.Researchers recognize the need to deal with financial problems using models consistent with the reality and based on sophisticated quantitative analysis technique. Thus, role mathematical modeling in finance becomes important. This article deals with various investments decision-making models, which include forecasting, optimization, stochatic processes, artificial intelligence, etc., and become useful tools for investment decisions.

  6. Optimization of technological planning of the equipment in innovative project of modernization of machine-building production

    Directory of Open Access Journals (Sweden)

    Nasibullin D.R.

    2016-11-01

    Full Text Available this article describes the ways to improve the automated system of technological preparation of manufacturing. The method for optimizing the planning of technological equipment based on the use of artificial neural networks was developed for the automated system of technological preparation of manufacturing.

  7. Technology-design-manufacturing co-optimization for advanced mobile SoCs

    Science.gov (United States)

    Yang, Da; Gan, Chock; Chidambaram, P. R.; Nallapadi, Giri; Zhu, John; Song, S. C.; Xu, Jeff; Yeap, Geoffrey

    2014-03-01

    How to maintain the Moore's Law scaling beyond the 193 immersion resolution limit is the key question semiconductor industry needs to answer in the near future. Process complexity will undoubtfully increase for 14nm node and beyond, which brings both challenges and opportunities for technology development. A vertically integrated design-technologymanufacturing co-optimization flow is desired to better address the complicated issues new process changes bring. In recent years smart mobile wireless devices have been the fastest growing consumer electronics market. Advanced mobile devices such as smartphones are complex systems with the overriding objective of providing the best userexperience value by harnessing all the technology innovations. Most critical system drivers are better system performance/power efficiency, cost effectiveness, and smaller form factors, which, in turns, drive the need of system design and solution with More-than-Moore innovations. Mobile system-on-chips (SoCs) has become the leading driver for semiconductor technology definition and manufacturing. Here we highlight how the co-optimization strategy influenced architecture, device/circuit, process technology and package, in the face of growing process cost/complexity and variability as well as design rule restrictions.

  8. Optimal Selection Method of Process Patents for Technology Transfer Using Fuzzy Linguistic Computing

    Directory of Open Access Journals (Sweden)

    Gangfeng Wang

    2014-01-01

    Full Text Available Under the open innovation paradigm, technology transfer of process patents is one of the most important mechanisms for manufacturing companies to implement process innovation and enhance the competitive edge. To achieve promising technology transfers, we need to evaluate the feasibility of process patents and optimally select the most appropriate patent according to the actual manufacturing situation. Hence, this paper proposes an optimal selection method of process patents using multiple criteria decision-making and 2-tuple fuzzy linguistic computing to avoid information loss during the processes of evaluation integration. An evaluation index system for technology transfer feasibility of process patents is designed initially. Then, fuzzy linguistic computing approach is applied to aggregate the evaluations of criteria weights for each criterion and corresponding subcriteria. Furthermore, performance ratings for subcriteria and fuzzy aggregated ratings of criteria are calculated. Thus, we obtain the overall technology transfer feasibility of patent alternatives. Finally, a case study of aeroengine turbine manufacturing is presented to demonstrate the applicability of the proposed method.

  9. Spillovers from Foreign Direct Investment

    DEFF Research Database (Denmark)

    Meyer, Klaus E.; Sinani, Evis

    2005-01-01

    The extensive empirical literature analyzing productivity spillovers from foreign direct investment to local firms provides inconclusive results. Some studies find that foreign presence has a positive impact on the productivity of domestic firms, while others find no evidence or a negative effect...... for industrialized countries in the 1990s. Transition economies may experience spillovers, but these have been declining in recent years. Keywords: developing countries, transition economies, spillovers, foreign direct investment, technology transfer, meta-analysis...

  10. Information Technology Portfolio Management and the Real Options Method (ROM): Managing the Risks of IT Investments in the Department of the Navy (DON)

    National Research Council Canada - National Science Library

    Davis, Jeffery

    2003-01-01

    .... This research draws upon ITPM implementation strategies currently employed by the DON and provides recommendations for managing the inherent risk in IT investments, specifically the application...

  11. Investment in Renewable Energies in Argentina

    OpenAIRE

    Marina Recalde

    2017-01-01

    This article analyzes how the enabling conditions of the energy policy of a developing country such as Argentina, are crucial for the deployment of renewable energy investments. The conclusions highlights that the low institutional quality of the country shapes enabling conditions and reduce effect of the instruments of the energy policy, dropping incentives for investment in renewable technologies in the country. Therefore, in order to promote renewable technologies investments efficiently, ...

  12. Investment in Renewable Energies in Argentina

    Directory of Open Access Journals (Sweden)

    Marina Recalde

    2017-05-01

    Full Text Available This article analyzes how the enabling conditions of the energy policy of a developing country such as Argentina, are crucial for the deployment of renewable energy investments. The conclusions highlights that the low institutional quality of the country shapes enabling conditions and reduce effect of the instruments of the energy policy, dropping incentives for investment in renewable technologies in the country. Therefore, in order to promote renewable technologies investments efficiently, the institutional framework of countries must be seriously improved.

  13. Inconsistent Investment and Consumption Problems

    Energy Technology Data Exchange (ETDEWEB)

    Kronborg, Morten Tolver, E-mail: mtk@atp.dk [ATP (Danish Labour Market Supplementary Pension Scheme) (Denmark); Steffensen, Mogens, E-mail: mogens@math.ku.dk [University of Copenhagen, Department of Mathematical Sciences (Denmark)

    2015-06-15

    In a traditional Black–Scholes market we develop a verification theorem for a general class of investment and consumption problems where the standard dynamic programming principle does not hold. The theorem is an extension of the standard Hamilton–Jacobi–Bellman equation in the form of a system of non-linear differential equations. We derive the optimal investment and consumption strategy for a mean-variance investor without pre-commitment endowed with labor income. In the case of constant risk aversion it turns out that the optimal amount of money to invest in stocks is independent of wealth. The optimal consumption strategy is given as a deterministic bang-bang strategy. In order to have a more realistic model we allow the risk aversion to be time and state dependent. Of special interest is the case were the risk aversion is inversely proportional to present wealth plus the financial value of future labor income net of consumption. Using the verification theorem we give a detailed analysis of this problem. It turns out that the optimal amount of money to invest in stocks is given by a linear function of wealth plus the financial value of future labor income net of consumption. The optimal consumption strategy is again given as a deterministic bang-bang strategy. We also calculate, for a general time and state dependent risk aversion function, the optimal investment and consumption strategy for a mean-standard deviation investor without pre-commitment. In that case, it turns out that it is optimal to take no risk at all.

  14. Inconsistent Investment and Consumption Problems

    International Nuclear Information System (INIS)

    Kronborg, Morten Tolver; Steffensen, Mogens

    2015-01-01

    In a traditional Black–Scholes market we develop a verification theorem for a general class of investment and consumption problems where the standard dynamic programming principle does not hold. The theorem is an extension of the standard Hamilton–Jacobi–Bellman equation in the form of a system of non-linear differential equations. We derive the optimal investment and consumption strategy for a mean-variance investor without pre-commitment endowed with labor income. In the case of constant risk aversion it turns out that the optimal amount of money to invest in stocks is independent of wealth. The optimal consumption strategy is given as a deterministic bang-bang strategy. In order to have a more realistic model we allow the risk aversion to be time and state dependent. Of special interest is the case were the risk aversion is inversely proportional to present wealth plus the financial value of future labor income net of consumption. Using the verification theorem we give a detailed analysis of this problem. It turns out that the optimal amount of money to invest in stocks is given by a linear function of wealth plus the financial value of future labor income net of consumption. The optimal consumption strategy is again given as a deterministic bang-bang strategy. We also calculate, for a general time and state dependent risk aversion function, the optimal investment and consumption strategy for a mean-standard deviation investor without pre-commitment. In that case, it turns out that it is optimal to take no risk at all

  15. Sustainable Investment in a Supply Chain in the Big Data Era: An Information Updating Approach

    Directory of Open Access Journals (Sweden)

    Yanping Cheng

    2018-02-01

    Full Text Available We are now living in the big data era, where firms can improve their decision makings by adopting big data technology to utilize mass information. To explore the effects of the big data technology, we build an analytical model to study the sustainable investment in a supply chain, consisting of one manufacturer and one retailer, by using Bayesian information updating approach. We derive the optimal sustainable investment level for the manufacturer and the optimal order quantity for the retailer. Comparing the results with and without the big data technology, we find that whether the manufacturer should make more sustainable investment when the retailer adopts the big data technology depends on the service level at the retailer side. Interestingly, it is not always optimal for the retailer to adopt the big data technology. We identify the conditions under which the manufacturer and retailer are better off with the big data technology. In addition, we investigate the impact of the number of observations regarding the market information and find that the optimal decisions and profits increase in the number of the observations, if and only if the service level is low.

  16. Trends in Business Investment

    OpenAIRE

    Lydon, Reamonn; Scally, John

    2014-01-01

    This article examines trends in business investment in Ireland. Consistent with the international evidence on investment cycles, we show that business investment in Ireland exhibits large cyclical movements around a long-run trend relative to GDP. Changes in business investment broadly coincide with the overall business cycle, although swings in investment tend to be far greater, with extended periods of both over- and under-investment relative to GDP. The sharp fall in business investment si...

  17. From the NSF: The National Science Foundation’s Investments in Broadening Participation in Science, Technology, Engineering, and Mathematics Education through Research and Capacity Building

    Science.gov (United States)

    James, Sylvia M.; Singer, Susan R.

    2016-01-01

    The National Science Foundation (NSF) has a long history of investment in broadening participation (BP) in science, technology, engineering, and mathematics (STEM) education. A review of past NSF BP efforts provides insights into how the portfolio of programs and activities has evolved and the broad array of innovative strategies that has been used to increase the participation of groups underrepresented in STEM, including women, minorities, and persons with disabilities. While many are familiar with these long-standing programmatic efforts, BP is also a key component of NSF’s strategic plans, has been highlighted in National Science Board reports, and is the focus of ongoing outreach efforts. The majority of familiar BP programs, such as the Louis Stokes Alliances for Minority Participation (now 25 years old), are housed in the Directorate for Education and Human Resources. However, fellowship programs such as the Graduate Research Fellowships and Postdoctoral Research Fellowships under the Directorate for Biological Sciences (and parallel directorates in other STEM disciplines) are frequently used to address underrepresentation in STEM disciplines. The FY2016 and FY2017 budget requests incorporate funding for NSF INCLUDES, a new cross-agency BP initiative that will build on prior successes while addressing national BP challenges. NSF INCLUDES invites the use of innovative approaches for taking evidence-based best practices to scale, ushering in a new era in NSF BP advancement. PMID:27587853

  18. Performance projections and design optimization of planar double gate SOI MOSFETs for logic technology applications

    International Nuclear Information System (INIS)

    Kranti, Abhinav; Hao Ying; Armstrong, G Alastair

    2008-01-01

    In this paper, by investigating the influence of source/drain extension region engineering (also known as gate–source/drain underlap) in nanoscale planar double gate (DG) SOI MOSFETs, we offer new insights into the design of future nanoscale gate-underlap DG devices to achieve ITRS projections for high performance (HP), low standby power (LSTP) and low operating power (LOP) logic technologies. The impact of high-κ gate dielectric, silicon film thickness, together with parameters associated with the lateral source/drain doping profile, is investigated in detail. The results show that spacer width along with lateral straggle can not only effectively control short-channel effects, thus presenting low off-current in a gate underlap device, but can also be optimized to achieve lower intrinsic delay and higher on–off current ratio (I on /I off ). Based on the investigation of on-current (I on ), off-current (I off ), I on /I off , intrinsic delay (τ), energy delay product and static power dissipation, we present design guidelines to select key device parameters to achieve ITRS projections. Using nominal gate lengths for different technologies, as recommended from ITRS specification, optimally designed gate-underlap DG MOSFETs with a spacer-to-straggle (s/σ) ratio of 2.3 for HP/LOP and 3.2 for LSTP logic technologies will meet ITRS projection. However, a relatively narrow range of lateral straggle lying between 7 to 8 nm is recommended. A sensitivity analysis of intrinsic delay, on-current and off-current to important parameters allows a comparative analysis of the various design options and shows that gate workfunction appears to be the most crucial parameter in the design of DG devices for all three technologies. The impact of back gate misalignment on I on , I off and τ is also investigated for optimized underlap devices

  19. Hospital Capital Investment During the Great Recession.

    Science.gov (United States)

    Choi, Sung

    2017-01-01

    Hospital capital investment is important for acquiring and maintaining technology and equipment needed to provide health care. Reduction in capital investment by a hospital has negative implications for patient outcomes. Most hospitals rely on debt and internal cash flow to fund capital investment. The great recession may have made it difficult for hospitals to borrow, thus reducing their capital investment. I investigated the impact of the great recession on capital investment made by California hospitals. Modeling how hospital capital investment may have been liquidity constrained during the recession is a novel contribution to the literature. I estimated the model with California Office of Statewide Health Planning and Development data and system generalized method of moments. Findings suggest that not-for-profit and public hospitals were liquidity constrained during the recession. Comparing the changes in hospital capital investment between 2006 and 2009 showed that hospitals used cash flow to increase capital investment by $2.45 million, other things equal.

  20. Hospital Capital Investment During the Great Recession

    Science.gov (United States)

    Choi, Sung

    2017-01-01

    Hospital capital investment is important for acquiring and maintaining technology and equipment needed to provide health care. Reduction in capital investment by a hospital has negative implications for patient outcomes. Most hospitals rely on debt and internal cash flow to fund capital investment. The great recession may have made it difficult for hospitals to borrow, thus reducing their capital investment. I investigated the impact of the great recession on capital investment made by California hospitals. Modeling how hospital capital investment may have been liquidity constrained during the recession is a novel contribution to the literature. I estimated the model with California Office of Statewide Health Planning and Development data and system generalized method of moments. Findings suggest that not-for-profit and public hospitals were liquidity constrained during the recession. Comparing the changes in hospital capital investment between 2006 and 2009 showed that hospitals used cash flow to increase capital investment by $2.45 million, other things equal. PMID:28617202