Modeling managerial behavior in real options valuation for project-based environments

Project valuation, as a decision-making tool for initiating investments in projects, should be able to value project flexibilities and incorporate reasonable risk preferences of relevant decision makers. Real options valuation methods are the available approaches for valuing project flexibilities, whereas they have shortcomings in considering managers’ reasonable risk preferences in project decisions. Therefore, researchers have suggested approximating the perspective on risk of real options methods and practitioners in project management. This study proposes a fair real options valuation for project-based environments by a behavioral economic approach, which adopts binomial lattice method, Monte-Carlo simulation, and cumulative prospect theory. The results show that behavioral factors such as ‘risk attitude’ and ‘loss aversion’ should be accepted in project investment decisions while limited to an acceptable amount depending on the project conditions (e.g. uniqueness of decision-making scenarios). This research contributes to the project management domain by enhancing project investment decisions that include project flexibilities.     

A Novel Grounded Inductor Realization Using a Minimum Number of Active and Passive Components

In this study, we present a new topology for realizing a grounded inductor employing only a single current conveyor, called a negative‐type modified inverting second‐generation current conveyor (MICCII‐), and a minimum number of passive components, two resistors, and one capacitor. The non‐ideality effects of the MICCII‐on a simulated inductor are investigated. To demonstrate the performance of the presented inductance simulator, we use it to construct a third order Butterworth high‐pass filter and a parallel resonant circuit. Simulation results are given to confirm the theoretical analysis.     

Novel Voltage-Mode All-Pass Filter Based on Using DVCCs

In this paper, a novel design for realizing a voltage-mode (VM) all-pass filter utilizing two differential voltage current conveyors (DVCCs) is proposed. Also, the suggested filter uses a canonical number of passive elements (one grounded capacitor and one resistor) without requiring any element matching condition. The proposed filter has high input and low output impedances, which make it suitable for cascading. The effects of the nonidealities of the DVCCs on the proposed design are investigated. As an application, a quadrature oscillator is designed using the proposed VM all-pass filter and an integrator. The proposed filter and oscillator circuits are simulated using the SPICE simulation program to confirm the theory.     

Immobilization of Metalloporphyrin on Functionalized MCM-48 Nanoporous Silica as a Catalyst in Oxidation of Cyclohexene: The Effects of Nanoporous Structure of MCM-48 on Its Catalytic Efficiency

MCM-48 nanoporous silica were prepared by the sol–gel method and functionalized by pyridine using a silane agent. With the aid of pyridines on the surface, the nanoporous material was used as a support for immobilization of metalloporphyrin. The formation of this material was confirmed by infrared spectroscopy, X-ray powder diffraction, transmission electron microscopy, inductively coupled plasma atomic emission spectroscopy analysis and specific surface area measurement. The application of this metalloporphyrin-immobilized MCM-48 was investigated as a heterogeneous catalyst in cyclohexene oxidation. Various parameters such as solvent and time were optimized. Also the effect of nanoporous structure on the efficiency of the catalyst was investigated by comparing the results with the same composite using nonporous silica (SiO₂). The result showed that the MCM-48 immobilized metalloporphyrin is a better catalyst for cyclohexene oxidation, which can be attributed to its nanoporous structure. The nanoporous structure increases the surface area of MCM-48 and leads to more metalloporphyrin immobilization.     

Seismic performance evaluation of steel moment resisting frames through incremental dynamic analysis

Earthquake hazards effect significant damage to structures and cause widespread failure throughout buildings. Moment resisting frames are widely used as lateral resisting systems when sufficient ductility is to be met. Generally three types of moment resisting frames are designed in practice namely Special, Intermediate and Ordinary Moment Frames, each of which has certain level of ductility. Comparative studies on the seismic performance of these three different types of structure are performed in this study. Analytical models of connections are employed including panel zone and beam to column joint model. Incremental dynamic analysis is then utilized to assess the structural dynamic behavior of the frames and to generate required data for performance based evaluations. Maximum annual probability of exceeding different limit states may reveal the superiority of a ductile structure in which a greater behavior factor is employed. Special moment resisting frames are expected to perform better once a certain level of ductility is to be met but the amount of superiority may be the subject of investigation especially from a performance based design standpoint.     

Parasitic compensation in CCI-based circuits for reduced power consumption

In this paper, the compensation advantage of the first-generation current conveyor (CCI) over the second-generation current conveyor (CCII) in tunable circuits is shown. For this purpose, a new floating frequency dependent negative resistor (FDNR) simulator using three CCIs is presented and employed in a third-order high-pass filter. The compensation feature of the CCI is shown for the proposed high-pass filter. As a second example, the presented compensation method is tested in a second-order band-pass filter constructed with two CCIs. Applying the proposed compensation technique, the CCI-based circuits can operate in lower biasing currents, which result in lower power consumption.     

Active only integrator and differentiator with tunable time constants

In this paper new active only current-mode integrator and differentiator with electronically tunable time constants are described. They are composed of one operational amplifier (OA) and two operational transconductance amplifiers (OTAs), and are suitable for monolithic implementation either with CMOS or bipolar technologies. No realizability conditions are imposed for the proposed circuits and all of the active sensitivities are low. The performances of the circuits are demonstrated on the PSPICE platform.     

Selected Geometric Characteristics,Density, and Mechanical Properties of Unsplit Pistachio Nut

In this study, several physical properties of unsplit pistachio nut were determined as functions of moisture content. By increasing moisture content from 5 to 20% all geometric characteristics increased linearly. Also, apparent and bulk density increased from 803 to 872 kg/m3 and from 458 to 575 kg/m3, respectively, while porosity decreased from 43% to 34%. Coefficient of static friction of the sample nuts on galvanized iron, plywood, and rubber surfaces increased linearly with moisture content. Nut splitting force decreased from 142 to 21 N and energy increased from 20 to 52 mJ with increasing moisture content from 5 to 20%.     

Dipyridamole recognition and controlled release by uniformly sized molecularly imprinted nanospheres

We used novel synthetic conditions of precipitation polymerization to obtain uniformly sized molecularly imprinted nanospheres of dipyridamole for application in the design of new drug delivery systems. In addition, the morphology, drug release, and binding properties of molecularly imprinted polymers (MIPs) were studied, and the effects of morphology on other properties were investigated. The MIPs prepared by acetonitrile/chloroform (19:1, v/v) were uniformly sized nanospheres with an average mean diameter of approximately 88 nm at a wetted state, 50 nm at a dry state, and a polydispersity index of 0.062. The imprinted nanospheres showed excellent binding properties and had 62.7% of template binding compared with 17.1% of its blank polymer. The imprinted nanospheres with 67.5 (mg template/of polymer) of binding capacity had better imprinting efficiency than the 50.5% of binding capacity shown by irregularly shaped MIP particles that were prepared by chloroform. The molecular binding abilities of imprinted nanospheres in human serum were evaluated by HPLC analysis (binding about 77% of dipyridamole). Results from release experiments of MIPs showed a very slow, controlled, and satisfactory release of dipyridamole. The loaded drug was released up to 99% in 17 days for nanospheres and 22 days for irregularly shaped particles.