A maximum entropy approach to the newsvendor problem with partial information

In this paper, we consider the newsvendor model under partial information, i.e., where the demand distribution D is partly unknown. We focus on the classical case where the retailer only knows the expectation and variance of D. The standard approach is then to determine the order quantity using conservative rules such as minimax regret or Scarf’s rule. We compute instead the most likely demand distribution in the sense of maximum entropy. We then compare the performance of the maximum entropy approach with minimax regret and Scarf’s rule on large samples of randomly drawn demand distributions. We show that the average performance of the maximum entropy approach is considerably better than either alternative, and more surprisingly, that it is in most cases a better hedge against bad results.     

Volatility skews and extensions of the Libor market model

The paper considers extensions of the Libor market model to markets with volatility skews in observable option prices. The family of forward rate processes is expanded to include diffusions with non-linear forward rate dependence, and efficient techniques for calibration to quoted prices of caps and swaptions are discussed. Special emphasis is put on generalized CEV processes for which closed-form expressions for cap and swaption prices are derived. Modifications of the CEV process which exhibit more appealing growth and boundary characteristics are also discussed. The proposed models are investigated numerically through Crank–Nicholson finite difference schemes and Monte Carlo simulations.     

Dissociation of the K-Ras4B/PDEδ complex upon contact with lipid membranes: membrane delivery instead of extraction

K-Ras4B is a small GTPase whose selective membrane localization and clustering into microdomains are mediated by its polybasic farnesylated C-terminus. The importance of the subcellular distribution for the signaling activity of K-Ras4B became apparent from recent in vivo studies, showing that the delta subunit of cGMP phosphodiesterase (PDEδ), which possesses a hydrophobic prenyl-binding pocket, is able to function as a potential binding partner for farnesylated proteins, thereby leading to a modulation of the spatiotemporal organization of K-Ras. Even though PDEδ has been suggested to serve as a cytosolic carrier for Ras, the functional transport mechanism still remains largely elusive. In this study, the effect of PDEδ on the interaction of GDP- and GTP-loaded K-Ras4B with neutral and anionic model biomembranes has been investigated by a combination of different spectroscopic and imaging techniques. The results show that PDEδ is not able to extract K-Ras4B from membranes. Rather, the K-Ras4B/PDEδ complex formed in bulk solution turned out to be unstable in the presence of heterogeneous membranes, resulting in a release of farnesylated K-Ras4B upon membrane contact. With the additional observation of enhanced membrane affinity for the K-Ras4B/PDEδ complex, a molecular mechanism for the PDEδ-K-Ras4B-membrane interaction could be proposed. This includes an effective delivery of PDEδ-solubilized K-Ras4B to the plasma membrane, probably through cytoplasmic diffusion, the dissociation of the K-Ras4B/PDEδ complex upon plasma membrane contact, and finally the membrane binding of released farnesylated K-Ras4B that leads to K-Ras4B-enriched microdomain formation.     

Behavior of a free surface of a magnetic fluid containing a magnetizable cylinder

The deformation of the free surface of a magnetic fluid containing a cylinder made of a magnetizable material subjected to a uniform applied magnetic field is analyzed. The statics and dynamics of a magnetic fluid free surface is studied theoretically and experimentally. A discontinuous (jump-like) change of the surface shape is shown to occur when the applied magnetic field gradually increases or decreases. If the applied magnetic field increases and then decreases, a hysteresis of the shape is observed.     

Mixed-integer linear programming for resource leveling problems

We consider project scheduling problems subject to general temporal constraints, where the utilization of a set of renewable resources has to be smoothed over a prescribed planning horizon. In particular, we consider the classical resource leveling problem, where the variation in resource utilization during project execution is to be minimized, and the so-called “overload problem”, where costs are incurred if a given resource-utilization threshold is exceeded. For both problems, we present new mixed-integer linear model formulations and domain-reducing preprocessing techniques. In order to strengthen the models, lower and upper bounds for resource requirements at particular points in time, as well as effective cutting planes, are outlined. We use CPLEX 12.1 to solve medium-scale instances, as well as instances of the well-known test set devised by Kolisch et al. (1999). Instances with up to 50 activities and tight project deadlines are solved to optimality for the first time.     

Intrinsic stability of a body hovering in an oscillating airflow

We explore the stability of flapping flight in a model system that consists of a pyramid-shaped object hovering in a vertically oscillating airflow. Such a flyer not only generates sufficient aerodynamic force to keep aloft but also robustly maintains balance during free flight. Flow visualization reveals that both weight support and orientational stability result from the periodic shedding of vortices. We explain these findings with a model of the flight dynamics, predict increasing stability for higher center of mass, and verify this counterintuitive fact by comparing top- and bottom-heavy flyers.     

The mechanical behaviour of rubber under hydrostatic compression and the effect on the results of finite element analyses

Using finite element tools for the dimensioning of rubber components is state of the art. When conducting finite element simulations, a split of the strain energy function, which results in stresses, into a deviatoric and a volumetric part is made. The mechanical behaviour of reinforced natural rubber under hydrostatic pressure is determined to prove the validity of this assumption. Furthermore, a nearly incompressible material behaviour is assumed in simulations of rubber, which may cause an insufficient outcome quality especially for rubber components that are exposed to hydrostatic pressure like highly confined bushings. In this paper, a method is presented to determine the compressibility, or its reciprocal the bulk modulus of rubber. The effect of the bulk modulus of a natural rubber on the simulation results of a bearing is pointed out. The obtained results are compared to test data to show the significance of the value of the bulk modulus for achieving a satisfactory outcome quality. Therefore, reliable information about the in-use behaviour of rubber components is obtained to reduce the costs and the effort in the dimensioning process.     

Analysis of Organophosphorus-Based Nerve Agent Degradation Products by Gas Chromatography-Mass Spectrometry (GC-MS): Current Derivatization Reactions in the Analytical Chemist’s Toolbox

The field of gas chromatography-mass spectrometry (GC-MS) in the analysis of chemical warfare agents (CWAs), specifically those involving the organophosphorus-based nerve agents (OPNAs), is a continually evolving and dynamic area of research. The ever-present interest in this field within analytical chemistry is driven by the constant threat posed by these lethal CWAs, highlighted by their use during the Tokyo subway attack in 1995, their deliberate use on civilians in Syria in 2013, and their use in the poisoning of Sergei and Yulia Skripal in Great Britain in 2018 and Alexei Navalny in 2020. These events coupled with their potential for mass destruction only serve to stress the importance of developing methods for their rapid and unambiguous detection. Although the direct detection of OPNAs is possible by GC-MS, in most instances, the analytical chemist must rely on the detection of the products arising from their degradation. To this end, derivatization reactions mainly in the form of silylations and alkylations employing a vast array of reagents have played a pivotal role in the efficient detection of these products that can be used retrospectively to identify the original OPNA.     

Preparation and characterisation of silica monoliths using a triblock copolymer (F68) as porogen

Silica-based monoliths with co-continuous structure were successfully prepared through a sol–gel process in the presence of a poly(ethylene glycol)-block-poly(propylene glycol)-block-poly(ethylene glycol) (F68). The triblock copolymer was compared to the classical PEG, in the formation of silica monoliths and was demonstrated to lead to co-continuous structures in a wider composition range, presenting smaller through pores. Moreover, mesoporous structures templated at the sol–gel transition were assumed to occur at the surface of the silica skeleton while PEG exhibited no mesopore templating.     

Solubility of sulphur dioxide in aqueous electrolyte solutions at higher ionic strengths—Chloride and bromide containing systems

The absorption of sulphur dioxide in chloride and bromide containing electrolyte solutions was measured up to ionic strengths of 5 mol/dm³. The thermodynamic equilibrium of the gas phase and the liquid phase was characterized by UV spectroscopy. UV spectra analysis gave strong evidence for SO₂X⁻ complexes existing in the solutions. Consequently, these compounds were implemented in the reaction scheme for absorption.