The presence of an internal habit, interpreted as a minimum acceptable lifestyle, has important consequences for portfolio choice of agents. The risk aversion of agents varies endogenously through the life cycle depending on evolution of the agent's habit. For the case where total wealth is capitalized, I obtain analytical solutions for the value and policy functions in a continuous time finite horizon model. There is an interesting life cycle effect which I highlight. Younger agents need to sustain their habits for a longer horizon, thereby making them more risk averse and inducing them to optimally hold more conservative portfolios, as compared to older agents who have fewer outstanding periods, hence worry less about sustaining future habits and hold more aggressive portfolios. The model is applied to study portfolio decisions of retired households, in contrast to the standard model it is able to explain the data.
This book focuses on various aspects related to air pollution, including major sources of air pollution, measurement techniques, modeling studies and solution approaches to control. The book also presents case studies on measuring air pollution in major urban areas, such as Delhi, India. The book examines vehicles as a source of air pollution and addresses the quantitative analysis of engine exhaust emissions. Subsequent chapters discuss particulate matter from engines and coal-fired power plants as a major pollutant, as well as emission control techniques using various after treatment systems. The book’s final chapter considers future perspectives and a way forward for sustainable development. It also discusses several emission control techniques that will gain relevance in the future, when stricter emission norms will be enforced for international combustion (IC) engines as well as power plants. Given its breadth of coverage, the book will benefit a wide variety of readers, including researchers, professionals, and policymakers.
Lions Directory for District 321C1, for the Centennial Lionistic year 2017-18 was released by Centennial Unique Governor Lion MJF Ajay Singhal. The Print Edition contains Lionistic information on the Services done by the Lion Members, Governor's Programme for the current year, Communication details of its Lion Leaders like DG Team, Cabinet Officials, RC, ZC and PSTs of 150 Clubs in the District. This Digital Edition is a replica of the Print Edition, to enable portability of the information by enabling the Lions read it in their Mobile Phones.
This book is intended to serve as a compendium on the state-of-the-art research in the field of biofuels. The book includes chapters on different aspects of biofuels from renowned international experts in the field. The book looks at current research on all aspects of biofuels from raw materials to production techniques. It also includes chapters on analysis of performance of biofuels, particularly biodiesel, in engines. The book incorporates case studies that provide insights into the performance of biofuels in applications such as automotive engines and diesel generators. The contents of the book will be useful to graduate students and researchers working on all aspects of biofuels. The book will also be of use to professionals and policymakers interested in biofuels.
This book addresses the measurement of environmental contaminants in water, air, and soil. It also presents modifications of and improvements to existing control technologies for remediation of environmental contaminants. It covers improved designs of wastewater systems and innovations in designing newer membranes for water treatment. In addition, it includes two separate sections on the modelling and control of different existing and emerging pollutants. It covers major topics such as: pharmaceutical wastes, paper and pulp waste, poly aromatic hydrocarbons, mining dust, bioaerosols, endosulphan, biomass combustion, and landfill design aspects. It also features chapters on environmental exposure and modelling of aerosol deposition within human lungs. The content of this book will be of interest to researchers, professionals, and policymakers whose work involves environmental contaminants and related solutions.