In this paper, we investigate the implications of non-separable preferences over durable and nondurable consumption for asset pricing tests when adjusting durable consumption is costly. In an economy without adjustment costs, in which a frictionless rental market exists for the durable good, the standard Euler equation with respect to nondurable consumption will hold for each individual agent a...

The concept and technology of a digital twin, which represent replica real object in virtual space called Industry 4.0, are widely used across all industries purposes. Similarly, the architecture, engineering, construction (AEC) industries, there is an urgent need to develop BIM, form twin based on 3D models, for purpose improving productivity reducing costs. Bridge structures required be safe,...

this article presents a novel method and development paradigm that proposes a general template for an enterprise information structure and allows for the automatic generation and modification of enterprise workflows. this dynamically integrated workflow development approach utilises a conceptual ontology of domain processes and tasks, enterprise charts, and enterprise entities. it also suggests...

PURPOSE This study examined the association between cognitive functioning and completion of a durable power of attorney for health care. DESIGN AND METHODS Participants were from the Second Longitudinal Study on Aging (LSOA II), a nationally representative sample of community-dwelling persons who were at least 70 years of age at the time of participation. The sample included 325 older adult r...

A method of longevity enhancement wooden civil structures by absorption-chemical modification timber surfaces is described herein. The modifiers were phosphoric acid ethers. properties the superficial layer studied IR-spectroscopy and elementary analysis Energy Dispersion X-Ray Spectroscopy (EDX) for build-up detection covalent bonds modifier with surface. During mycological studies, quantities...

Hematopoietic chimerism is known to promote donor-specific organ allograft tolerance; however, clinical translation has been impeded by the requirement for toxic immunosuppression and large doses of donor bone marrow (BM) cells. Here, we investigated in mice whether durable chimerism might be enhanced by pre-treatment of the recipient with liposomal clodronate, a macrophage depleting agent, wit...

Thermally modified timber (TMT) is increasingly offered in Europe as an alternative to preservative treated timber. TMT durability in field tests as well as its moisture sorption behaviour in façade application was determined so as to consider its suitability for outdoor use. Additionally, abrasion and crack-formation of TMT deckings were examined and the optical appearance of a TMT façade was ...

We study the role an illiquid durable consumption good plays in determining the level of precautionary savings and the distribution of wealth in a standard Aiyagari model (i.e. a model with heterogeneous agents, idiosyncratic uncertainty, and borrowing constraints). Transactions costs induce an inaction region over which the durable stock and the associated user cost are not adjusted in respons...

Développement durable et territoires. Économie, géographie, politique, droit, sociologie. Revue électronique. La revue offre une approche interdisciplinaire du développement à l’échelle territoire. En proposant conception élargie de la notion d’environnement, entend contribuer réflexion sur les formes finalités des logiques dans nos sociétés contemporaines.