Two-stage financial risk tolerance assessment using data envelopment analysis

Typical questionnaires administered by financial advisors to assess financial risk tolerance mostly contain stereotypes of people, have seemingly unscientific scoring approaches and often treat risk as a one-dimensional concept. In this work, a mathematical tool was developed to assess relative risk tolerance using Data Envelopment Analysis (DEA). At its core, it is a novel questionnaire that characterizes risk by its four distinct elements: propensity, attitude, capacity, and knowledge. Over 180 individuals were surveyed and their responses were analyzed using the Slacks-based measure type of DEA efficiency model. Results show that the multidimensionality of risk must be considered for complete assessment of risk tolerance. This approach also provides insight into the relationship between risk, its elements and other variables. Specifically, the perception of risk varies by gender as men are generally less risk averse than women. In fact, risk attitude and knowledge scores are consistently lower for women, while there is no statistical difference in their risk capacity and propensity compared to men. The tool can also serve as a “risk calculator” for an appropriate and defensible method to meet legal compliance requirements, known as the “Know Your Client” rule, that exist for Canadian financial institutions and their advisors.     

Single‐pulse pulsed laser polymerization–electron paramagnetic resonance investigations into the termination kinetics of n‐butyl acrylate macromonomers

The termination of model mid‐chain radicals (MCRs), which mimic radicals that occur in acrylate polymerization over a broad range of reaction conditions, has been studied by single‐pulse pulsed laser polymerization (SP‐PLP) in conjunction with electron paramagnetic resonance spectroscopy. The model radicals were generated by initiator‐fragment addition to acrylic macromonomers that were preformed prior to the kinetic experiments, thus enabling separation of termination from the propagation reaction, for these model radicals propagate sparingly, if at all, on the timescale of SP‐PLP experiments. Termination rate coefficients of the MCRs were determined in the temperature range of 0–60°C in acetonitrile and butyl propionate solution as well as in bulk macromonomer over the range of 0–100 °C. Termination rate coefficients slightly below those of the corresponding secondary radicals were deduced, demonstrating the relatively high termination activity of this species, even when undergoing MCR–MCR termination. For chain length of 10, a reduction by a factor of 6 is observed. Unusually high activation energies were found for the termination rate coefficient in these systems, with 35 kJ mol^?1 being determined for bulk macromonomer. © 2012 Wiley Periodicals, Inc. J Polym Sci Part A: Polym Chem, 2012     

Book review

Matrix Analysis, by Rajendra Bhatia, Graduate Texts in Mathematics, 169, Springer, New York, 1997, 347 + xi pages. ISBN 0-387-94846-5     

Influence of Swelling and Disruption of the Starch Granule on the Composition of the Starch-Polyacrylonitrile Copolymer

Abstract

The results of an evaluation of polymers as cryogenic adhesives are presented. It was observed that polyether-based polyurethanes provided the most attractive capability as adhesives for use at liquid hydrogen temperatures.     

European Synchrotron Users Unified

The landscape of synchrotron radiation facilities in Europe is diverse. In addition to the flagship ESRF, several national facilities exist or came into operation recently. In contrast to ESRF, which is financed for use by member countries, access of foreign users to national facilities is not easy. Even if their proposals pass the review process, they can only perform the experiments if funding is allocated to cover not only travel expenses, board and lodging of the experimenters, but also some compensation for the facility's operational costs; this is because national facilities are primarily funded for the home-country's users at that nation's costs.     

Esrf 10th users meeting

We explored diffraction enhanced imaging (DEI) in both planar and computed tomography (CT) modes for early detection of beta amyloid deposition, a hallmark feature in Alzheimer's disease (AD). Since amyloid plaques precede clinical symptoms by years, their early detection is of great interest. These findings were correlated with results from synchrotron infrared microspectroscopic imaging and X-ray fluorescence microscopy, to determine the secondary structure of the amyloid beta protein and metal concentration in the amyloid plaques, respectively.     

Lagrangian Point State Estimation with Optimized, Redundant Induction Coil Gauges

This research effort studies the use of redundant induction coil gauges to reduce state estimation uncertainties for moving Lagrangian points (LPs); e.g. discrete points, moving interfaces, projectiles, etc. The technique embeds a small, high-strength magnet at the LP and simultaneously tracks the magnet continuously with five (5) or more induction coils along a single axis of motion. A calibrated coil gauge model is presented as a function of LP position and velocity. The optimized LP state (position and velocity) estimate based upon redundant LP observations allows direct solution for LP velocity; requiring only one differentiation step to obtain acceleration. A specific experimental implementation (Particulate Materials Meso-scale Diagnostics system) is simulated to evaluate and minimize the expected state estimation errors. Induction coil signals with various levels of noise are simulated based upon a prescribed LP state variation with time. The state optimization algorithm attempts to recover the truth state values. Worst-case position estimation errors of ±0.3 mm and velocity estimation errors of ±0.46 m/s are determined for LPs travelling 0–1,000 m/s at realistic in-lab data noise levels.     

Preparation of sinapinaldehyde modified mesoporous silica materials and their application in selective extraction of trace Pb(II)

A new solid phase extractant, sinapinaldehyde (SA) modified SBA-15 mesoporous silica, was developed for selective extraction and preconcentration of trace Pb(II) from aqueous solutions. The successful immobilization of SA on SBA-15 and the strong interaction between SA-SBA-15 and Pb(II) were characterized and confirmed by FTIR spectroscopy and scanning electron microscopy. Parameters such as solution pH, shaking time, eluent condition and sample volume were optimized so that the maximum removal of Pb(II) from solution could be achieved. At pH 4.0, the maximum adsorption capacity of the sorbent for Pb(II) was found to be 33.6?mg?g^?1 and the adsorbed Pb(II) could be completely eluted using a mixed solution of 2?M HCl and 5% CS(NH₂)₂. Some common metal ions such as K(I), Na(I), Mg(II), Ca(II), Cr(III), Fe(III), Co(II), Ni(II), Cu(II), Zn(II), Cd(II) and Hg(II) did not interfere with the adsorption of trace Pb(II). The detection limit of the present method was found to be 1.3?ng?mL^?1 and the relative standard deviation was less than 2.0% (n?=?8). These results suggested that this new sorbent is very efficient and selective for the removal of trace Pb(II) in water samples.