Implementation of sustainable sanitation in existing urban areas: long-term strategies for an optimised solution.

If technologies for decentralised sanitation and reuse (DESAR) and for natural stormwater management should at least partially replace existing systems, then intensive reconstruction work becomes essential. A conversion can only be realised successively over a long period due to high construction and financial expenses and requires new strategies. This paper presents the development and practical implementation of a mathematical tool to find an optimised strategy for the realisation of alternative and more decentralised drainage and sanitation concepts in existing urban areas. The succession of construction measures (e.g. the implementation of decentralised greywater recycling) for the whole period of consideration is determined based upon a mathematical optimisation model on the condition that the favoured future state is known. The model describes the complex interdependencies of the urban water and nutrient cycle and enables the minimisation of both financial efforts and ecological impacts on the way toward the future state. The results of the implementation for a rural area in Germany show that the mathematical optimisation is an adequate instrument to support decision-making processes in finding strategies for the realisation of sustainable urban water management.     

Assessment of Capillary Rise from Shallow Groundwater by the Simulation Model SIMWASER Using Either Estimated Pedotransfer Functions or Measured Hydraulic Parameters

The performance of the water balance and crop growth model SIMWASER to estimate the water supply of a lawn by capillary rise from shallow ground water was investigated by using lysimeter measurements with a sandy and a clayey soil. Moreover the robustness of the model was evaluated by running it either with measured hydraulic soil parameters or with estimated pedotransfer functions (PTFs) derived from texture and bulk density. Simulations were performed for the years 1996–1998 with input data from the lysimeter station Berlin-Dahlem (Germany) for lysimeters containing undisturbed sandy or clayey soil monoliths, with groundwater at 135 cm depth. Simulated evapotranspiration and percolation/capillary rise were in good agreement with the measured data for all variants, while simulated soil water storage was acceptable only for the variants using hydraulic soil data based on laboratory measurements or using PTFs derived from known soil class and bulk density. PTFs based on mean total pore volume of the respective soil classes yielded soil water storages which were evidently too high; therefore they should be used with care and must be avoided at all in simulating the soil water balance of arid sites with shallow groundwater.     

Estrogenic personal care products in a greywater reuse system.

The occurrence and fate of parabens in a greywater system was assessed. The potential for removal of residual paraben concentrations in effluent greywater with chlorine dioxide was also investigated. The influent to the greywater plant was characterised by considerable variation, with concentrations from below the detection limit to 40 microg/L and the five commonly used parabens in consumer products were frequently detected. After the biological treatment only two paraben were detected with concentration from 65-120 ng/L. Chlorine dioxide treatment of the biologically treated effluent with dosages down to 0.75 mg/L resulted in more than 97% reduction of all parabens. Formation of the by-product chloroform was insignificant from the chlorine dioxide treatment.     

Habilitation von Ralf Hohlfeld

Ohne Zusammenfassung     

Contract modifications and the basis behavior of live cattle futures

The purpose of this study was to assess the basis behavior of the Live Cattle Futures contract at the Chicago Mercantile Exchange (CME) before and after the 1995 contract changes. Additionally, an alternative method of basis calculation utilizing weighted mean futures prices versus settlement futures prices was compared to determine which method provides a better representation of the basis level. Within a regression model with heteroskedascity error framework, we found that the level of nearby basis in the period after June 1995 has shifted lower and the average monthly open interest of net commercial long positions has substantially increased after the contract modifications. These empirical results are consistent with the notion that more long activity entered the market in response to the contract modifications. Additionally, an alternative (new) measure of basis calculation (cash price minus weighted mean futures price) produced similar results to two other commonly used measures. In conclusion, the 1995 contract changes have neither increased nor decreased the volatility of live cattle basis. © 2004 Wiley Periodicals, Inc. Jrl Fut Mark 24:557–590, 2004     

CROSS‐DOCKING AND ITS IMPLICATIONS IN LOCATION‐DISTRIBUTION SYSTEMS

Cross‐docking replaces traditional warehousing, enabling continuous flow of items without storage. Here we model location‐distribution networks, that include cross‐docking facilities, to obtain the latter's impact on the supply chain. We formulate optimization models to minimize total cost in three multi‐echelon networks, each model generalizing the preceding one. The first includes a single manufacturer, one product type, and multiple customers. Cross‐docks are to be located between origin and destinations. Besides solving optimally, a tool for quantitative analysis of direct‐shipment decisions is developed. The second model considers more than one product: We determine a cost‐effective sequence of items for indirect shipment (via cross‐docks). Finally, in a network with multiple origins, optimal solutions are obtained for 40 medium‐sized and larger examples.     

The relationship between governance structure and risk management approaches in Japanese venture capital firms

This paper attempts to understand what drives Japanese venture capital (JVC) fund managers to select either active managerial monitoring or portfolio diversification to manage their firms' investment risks [J. Bus. Venturing 4 (1989) 231]. Unlike U.S. venture capitalists that use active managerial monitoring to gain private information in order to maximize returns [J. Finance 50 (1995) 301], JVCs have traditionally used portfolio diversification to attenuate investment risks [Hamada, Y., 2001. Nihon no Bencha Kyapitaru no Genkyo (Current State of Japanese Venture Capital), Nihon Bencha Gakkai VC Seminar, May 7]. We found that performance pay is positively related to active monitoring and that management ownership is positively related to active monitoring and negatively related to portfolio diversification. The managerial implication of our study is that venture capitalists should be as concerned about the structure of their incentive systems for their fund managers as they are for their investee-firm entrepreneurs. Agency theory says that contingent compensation is a self-governing mechanism for individual effort that is difficult to measure and verify. When properly applied, equity ownership and performance-based pay can have powerful influencing effects on the strategic choices of managers.