Break-even Cost Research Articles

How much to pay for a track and trace system: a simulation model for South Africa

BackgroundThe illicit trade in tobacco reduces the effectiveness of tobacco-control policies. Independent track and trace (T&T) systems are considered one of the most effective measures available to reduce the illicit...

Evaluation of Factor Productivity and Effect of Individual Input of Production on Growth, Yield and Economics of Soybean [Glycine max (L.) Merrill

Background: In India, the area under soybean is steadily increasing, while production and productivity is low compared to the world average. To bridge this gap, factors of production determining the per-unit production plays a crucial role. In order to identify and quantify the factors of soybean production and their contribution, present study was undertaken. Methods: The field experiments were conducted during kharif 2019 and 2020 in randomized block design with seven crop management practices for evaluation of effect of individual practice on soybean yield. Result: Soybean grown with full practice (3221 kg ha-1) gave significantly higher seed yield over omission of RDF (2489 kg ha-1) and weed management (2560 kg ha-1). Increase in seed yield with full practice over omission of RDF was 22.72% and over omission of weed management was 20.52%. The yield gap was higher with omission of RDF (732 kg ha-1) and omission of weed management (661 kg ha-1). Economic gain due to full practice was maximum over the omission of the practice. Least break-even cost was incurred with full practice (₹12.93 kg-1), while higher with omission of weed management (₹14.81 kg-1). Crop output efficiency in terms of partial factor productivity and agronomic efficiency was higher with full practice.

Membranes Targeting Industrial O2 Production from Air – A Short Review

Some of the most promising membranes for O2/N2 gas separation (air separation) mentioned in literature so far are selected, in terms of meeting a O2-gas-production breakeven cost that is lower than that of competing air separation unit (ASU) technologies, based on latest reported technoeconomic studies. An overview regarding most important applications of O2 and N2 gases is first given, in respect with the demanded purity limits for each case, since the purity parameter is crucial in defining the minimum breakeven cost.

Pineapple leaf fiber supply chain analysis for the sustainability of community enterprise: a case study in Thailand

Thailand is one of the most significant pineapple producers and exporters in the world. In 2020, the pineapple cultivation area is around 72,656 hectares, which generated agro-waste after harvesting such as leaves, rhizome, and stem. The estimation of waste from leaves is about 37.5 tons per hectare, which results in waste of around 2.7 million tons per year. In addition, most farmers burn agro-waste rather than decompose causing pollution problems. Previous research showed that pineapple leaves can be used as raw materials in other industries such as textiles, paper, packaging, reinforcing materials, etc. Meanwhile, in Thailand, very few producers have the potential to produce pineapple leaf fiber due to high production costs, insufficient production capacity, lack of knowledge and labor, etc. Therefore, this research studied the pineapple leaf fiber supply chain. The objectives were to analyze the present pineapple leaf fiber supply chain of the community enterprise, pinpoint key activities, challenges, and propose guidelines to solve problems. The related stakeholders were interviewed such as farmers, community enterprise, yarn manufacturers, collectors, and government agencies. Next, business processes were identified by applying the Integration Definition for Function Modeling (IDEF0). These main activities of IDEF0 are plan, source, make, deliver, and return. After the study, the challenges were uncertain demand, lack of break-even point and cost analysis, long production lead time and high production cost. Thus, the community enterprise should focus on finding a sustainable market, calculate the production cost analysis and apply Kaizen and Lean concepts to improve productivity and reduce production costs. Finally, our guidelines for fiber community enterprise can be employed in other community enterprises to enhance supply chain management and lead to sustainability.

Can Restoration of Freshwater Mineral Soil Wetlands Deliver Nature-Based Climate Solutions to Agricultural Landscapes?

This study advances scientific understanding of the magnitude of carbon sequestration that could be achieved through conservation (securing existing carbon stocks) and restoration (creating new carbon stocks) of freshwater mineral soil wetlands on agricultural landscapes. Within an agricultural landscape in southern Ontario (Canada), 65,261 wetlands comprising 63,135 ha were lost. Of these, 6,899 wetlands comprising 5,198 ha were “easy-to-restore” wetlands, defined as wetlands that were small (<0.5 ha), with no hydrological inflow or outflow, and that were drained by a drainage ditch and could be restored by plugging the drainage ditch. Within these easy-to-restore wetlands, a chronosequence of wetlands that covered a range of restoration ages [i.e., drained (0 years), 15 years, 25 years, 40 years, and intact marshes] was established to capture potential changes in rates of sedimentation and organic carbon (OC) sequestration with restoration age. Three sediment cores were collected at the center of the open-water portion of the wetland and segmented in the field. In the lab, each individual segment from each core was dried, sieved through a 2-mm mesh, weighed and analyzed for 137Cs and 210Pb radioisotopes and OC. OC stocks (35.60 Mg ha–1) and OC sequestration rates (0.89 Mg C ha–2 yr–1) in wetlands restored for 40 years were comparable to if not marginally larger than intact wetlands, suggesting that restoration promotes OC sequestration but that an initial recovery phase of up to 25 years or more is needed before returning to a pre-drainage equilibrium. An economic analysis to compare the costs and benefits of wetland conservation and restoration was then conducted. The benefit-cost analysis revealed that the financial benefits of carbon sequestration are greater than the financial costs over a 30-year time horizon for retaining wetlands but not for restoring wetlands. The breakeven costs such that wetland restoration is economically feasible based on current carbon price projections is estimated to be $17,173 CAD ha–1 over the 30-year time horizon; any wetland restoration project that costs this amount or less could be justified on economic grounds based solely on the carbon benefits. This study’s findings indicate that wetlands are important nature-based climate solutions, but that incentivizing their use through a carbon market will require either scientific innovations to reduce restoration costs or increase carbon sequestration rates, or stacking carbon benefits with other ecosystem service benefits into a comprehensive market for nature-based climate solutions.

37-OR: Childhood Screening and Interception Strategies: An Economic Cohort Simulation Model

T1D screening and monitoring studies suggest opportunities for scaling up to public health population-based programs. Genetic Risk Scores (GRS) for T1D are also demonstrating the ability to identify those at higher risk of progressing to T1D as well as an increased opportunity for implementation into public health settings potential as a result of practical considerations, including falling gene sequencing costs.Previous studies have shown that screening and monitoring children for T1D progression significantly decreases DKA events at diagnosis, which has been shown to have both short- and long-term benefits. Furthermore, identification of those at higher risk of T1D provides an opportunity to intervene and delay T1D onset. A non-stochastic, state transition cohort simulation projected 20US births through adolescence. Data from previously collected natural history studies, including TEDDY, DIPP & DAISY were used to model the patient journey. Children seroconverting to islet autoantibodies (IAB) each year and children with lower T1D risk were simulated as separate cohorts with distinct progressions. Interception strategies were layered over this natural history projection. Success of GRS screening followed by annual IAB and glucose monitoring to intercept T1D progression and reduce DKA events was explored. Therapeutic intervention to delay T1D onset was also simulated.Real-world benchmarks for newborn screening (85%) and patient follow-up (80%) as well as rapid T1D progression (<12 months) for some children limited maximum interception at dysglycemia to 52% of children progressing to T1D by age 15 using a GRS screening strategy. Short-term net incremental costs range reach $1.1B at current test costs or $225K per T1D case interception. Breakeven costs could be achieved with $40 IAB test cost and $5 GRS costs with a therapeutic to delay T1D onset by 3 years or possibly by including assessment potential long-term benefits of early intervention and improved glycemic control. Disclosure M.Trusheim: Other Relationship; CO BIO CONSULTING LLC. S.Kostense: Employee; Janssen Research & Development, LLC. L.A.Ferrat: None. R.Mcqueen: Consultant; Merck & Co., Inc., Monument Analytics, Research Support; Eli Lilly and Company. R.D.Neusner: Employee; Janssen Pharmaceuticals, Inc. R.A.Oram: Consultant; Janssen Research & Development, LLC, Research Support; Randox R & D. M.Rewers: Consultant; Janssen Research & Development, LLC, Medscape, Provention Bio, Inc., Research Support; Dexcom, Inc., JDRF, Roche Diagnostics USA. J.L.Dunne: Employee; Janssen Research & Development, LLC, JDRF.

Simultaneous optimization of economic, environmental and safety criteria for algal biodiesel process retrofitted using dividing wall column and multistage vapor recompression

The present study deals with the multiobjective optimization (MOO) of retrofitted in situ algal biodiesel process. Transesterification of the algal lipids is intensified using ultrasonication and catalyzed using the ionic liquid catalyst. Process includes the retrofitting of two conventional distillation columns into a dividing wall column (DWC), which is further intensified using multistage vapor recompression (DWC-MVR) in order to decrease the energy consumption and CO2 emission from the process. Excel based hybridised multiobjective differential evolutionary dynamic local search (HMODE-DLS) algorithm is used for the constrained MOO, whereas Aspen Plus is used for the process development. Break even cost (BEC), eco indicator (EI99) and individual risk (IR) are considered as objectives to evaluate economic, environmental impact, and safety of process, respectively. Initially, bi-objective case studies were analyzed and finally, all three objectives are studied in one case. Pareto optimal solutions obtained from HMODE-DLS algorithm are then ranked by the simple additive weighted method to find out the best solution. MOO resulted in the significant decrease in BEC (~20%), EI99 (~48%) and IR (~10%).

A Modelling Study of Post-Combustion Capture Plant Process Conditions to Facilitate 95–99% CO2 Capture Levels From Gas Turbine Flue Gases

The principal purpose of this study is to examine the changes in process conditions that might be needed to achieve up to 99% capture levels in amine post-combustion capture (PCC) plants for combined cycle gas turbine (CCGT) flue gases. This information is of interest since, while 95% capture is adequate for current market and regulatory conditions, net zero fossil emissions (99% capture for a CCGT plant) will be required to deliver global climate mitigation targets and is increasingly a target for national climate policies. The conventionally-configured plant in the study is based on FEED studies carried out by Bechtel Corporation and uses MEA at 35% w/w. Performance modelling is undertaken using the Aspen Plus CCSI MEA Steady State Model. The results show that efficient operation at higher capture levels appears to be feasible with minimal adjustments to the plant configuration, provided that the absorber has a sufficient packing height and the stripper is capable of operation at pressures above 2 bar. The study primarily focuses on operation at low lean loadings (0.09–0.15 molCO2/molMEA) and correspondingly low L/G ratios (<1 by mass), the combination of which, in principle, can give a higher rich loading for a given capture level and packing height and consequently reduce energy consumption. However, for a given capture level, there is a minimum absorber packing height below which a near-optimal rich loading cannot be achieved for any lean loading and L/G ratio. For example, at a lean loading of 0.12 molCO2/molMEA, an absorber packing height of approximately 24 m is required for 99% capture with a minimal increase in specific energy requirements (3.77 GJ/tCO2 at 99% capture vs. 3.50 GJ/tCO2 at 95% capture). A stripper pressure of 2.4 bar is also found to be necessary to achieve this lean loading level without excessive energy requirements. The effect of varying lean loading at three constant rich loading levels is reported in detail, as are the effect of rich loading at constant lean loading and the effect of pressure on stripper performance and energy requirements. The study also examines the effects of cooling and intercooling at elevated capture levels. A simple analysis of break-even operating costs suggests that capture levels higher than the 95% envisaged in current United Kingdom guidance, to further reduce CO2 emissions costs for CCGT + PCC, might be attractive if carbon dioxide removal from air is the alternative.

Rare earth element resource evaluation of coal byproducts: A case study from the Powder River Basin, Wyoming

Domestic Rare Earth Element sources and production are limited in the United States and currently rely on final processing overseas. Increasing demand and resource security domestically has led to significant investigation into rare earth element domestic resources. Much of this work focuses on unconventional potential ore stocks, including coal and coal byproducts. This investigation focuses on coal byproducts generated as ash from coal burning power stations. Wyoming's Powder River Basin hosts the largest U.S. coal stocks for energy production, providing approximately 40% of all thermal coal mined in the U.S. In this effort, in section I, we have studied coal byproducts for rare earth element concentrations and compare these data to current alternative resource knowledge. We find that coal byproducts in this investigation are consistently high enough in rare earth element concentration (above the current Department of Energy 300 ppm cutoff grade) to warrant consideration as a promising potential resource. Rare earth element behavior within the host coal seams is also considered in an effort to better understand resource prospecting and ore body description. In Section II, we evaluate the economic feasibility of rare earth extraction from Powder River Basin coal byproducts using net present value analysis and the rare earth concentrations data from Section I. We calculate the break-even ash-to-oxide output and input unit costs for four coal stations in the Powder River Basin. All four stations have break-even unit costs that are higher than the mine-to-oxide operating cost reported for a traditional rare earth element mine. This is a promising result, especially given that it is more costly to refine rare earths from mined material than from ash. The results are highly sensitive to rare earth prices: given low long-term prices, none of the four stations can feasibly break even. Section III summarizes federal policy considerations in rare earth element resource development. The history of policy development, most recent focus on rare earth element specific funding legislation, paired with section I and II herein, suggest a robust opportunity for development of Wyoming based coal byproducts as a partial solution to current domestic rare earth element short falls and strategic needs.

Implications in the Evaluation of Costs in Distance and Face-to-Face Education through the “Break-even-point” Technique, in Bachelor's Degree in Sociology

Universities, both public and private, seek to implement a university policy that tries to address the academic, administrative, educational and economic problems would be faced with the concrete fact that ignore the behavior of those categories that explain such drawbacks. In the best case, too specific and traditional elements and equipment shortages are known problems, lack of training of certain administrative levels, inadequate buildings, the development of modules, presentation advice and obviously a relationship is established directly between the magnitude of these problems and inadequate financial resources. This project made the application of the technique "Break-even-point" (Breakeven) Costs of Distance Education and Higher Education Education Classroom. The project presents the ratio of fixed costs and variable costs and the influence of the number of students in the Semester Program Total Cost per case BA in Sociology.

Grass-fed vs. grain-fed beef systems: performance, economic, and environmental trade-offs.

Between increasing public concerns over climate change and heightened interest of niche market beef on social media, the demand for grass-fed beef has increased considerably. However, the demand increase for grass-fed beef has raised many producers' and consumers' concerns regarding product quality, economic viability, and environmental impacts that have thus far gone unanswered. Therefore, using a holistic approach, we investigated the performance, carcass quality, financial outcomes, and environmental impacts of four grass-fed and grain-fed beef systems currently being performed by ranchers in California. The treatments included 1) steers stocked on pasture and feedyard finished for 128 d (CON); 2) steers grass-fed for 20 mo (GF20); 3) steers grass-fed for 20 mo with a 45-d grain finish (GR45); and 4) steers grass-fed for 25 mo (GF25). The data were analyzed using a mixed model procedure in R with differences between treatments determined by Tukey HSD. Using carcass and performance data from these systems, a weaning-to-harvest life cycle assessment was developed in the Scalable, Process-based, Agronomically Responsive Cropping Systems model framework, to determine global warming potential (GWP), consumable water use, energy, smog, and land occupation footprints. Final body weight varied significantly between treatments (P < 0.001) with the CON cattle finishing at 632kg, followed by GF25 at 570kg, GR45 at 551kg, and GF20 478kg. Dressing percentage differed significantly between all treatments (P < 0.001). The DP was 61.8% for CON followed by GR45 at 57.5%, GF25 at 53.4%, and GF20 had the lowest DP of 50.3%. Marbling scores were significantly greater for CON compared to all other treatments (P < 0.001) with CON marbling score averaging 421 (low-choice ≥ 400). Breakeven costs with harvesting and marketing for the CON, GF20, GR45, and GF25 were $6.01, $8.98, $8.02, and $8.33 per kg hot carcass weight (HCW), respectively. The GWP for the CON, GF20, GR45, and GF25 were 4.79, 6.74, 6.65, and 8.31 CO2e/kg HCW, respectively. Water consumptive use for CON, GF20, GR45, and GF25 were 933, 465, 678, and 1,250L/kg HCW, respectively. Energy use for CON, GF20, GR45, and GF25 were 18.7, 7.65, 13.8, and 8.85 MJ/kg HCW, respectively. Our results indicated that grass-fed beef systems differ in both animal performance and carcass quality resulting in environmental and economic sustainability trade-offs with no system having absolute superiority.

Exploring the design space of PV-plus-battery system configurations under evolving grid conditions

In this study, we explore how the energy and capacity values of coupled systems comprising solar photovoltaic arrays and battery storage (PV-plus-battery systems) could evolve over time based on the evolution of the bulk power system. Using a price-taker model with simulated hourly energy and capacity prices projected from the present to 2050, we simulate the revenue-maximizing dispatch of a range of DC-coupled PV-plus-battery configurations in three locations in the United States. These configurations are defined by the inverter loading ratio (ILR, the ratio of the PV array capacity to the inverter capacity, which we vary from 1.4 to 2.6) and the battery-inverter ratio (BIR, the ratio of the battery power capacity to the inverter capacity, which we vary from 0.25 to 1.0). Based on each configuration’s total value, we estimate the breakeven costs needed to justify each incremental increase in ILR (holding BIR constant) or BIR (holding ILR constant). We find that, in a future with low-cost renewable energy technologies, PV-plus-battery system ILRs can be economically increased to around 2.0–2.4 at a BIR of 1.0, depending on solar resource. Our results indicate that a likely evolution of PV-plus-battery system design will be increasingly greater battery power capacity to mitigate the declining PV capacity value, which will, in turn, enable increasingly higher ILRs to further increase energy value. The extent to which PV-plus-systems will be deployed with increasingly higher ILRs depends primarily on whether PV cost declines outpace declining value and increasing curtailment over time.

Delaware Basin Case History Details Economic Benefit of Water-Recycling Program

This article, written by JPT Technology Editor Chris Carpenter, contains highlights of paper SPE 204166, “Turning Produced Water Into an Asset: A Delaware Basin Case History,” by Dustin Aro, SPE, and Steven Fowler, SPE, Precision Petroleum Solutions, prepared for the 2021 SPE Hydraulic Fracturing Technology Conference and Exhibition, held virtually 4–6 May. The paper has not been peer reviewed. Well completion operations are affected by freshwater procurement costs starting at approximately $0.75/bbl. Regardless of final fracturing design, water consumption during fracturing operations typically exceeds 500,000 bbl, or $375,000 per well at the time of writing. Significant value exists for recycling produced water by an on-lease pit that can be used for future fracturing operations. The case history outlined in the complete paper explores a multiwell sectional development in the Delaware Basin by a small operator that reduced drilling and completion costs, along with lease operating expenses, by turning undesirable produced water into an asset. Regulatory Considerations Because the Delaware Basin straddles two states, it is important to understand the guidelines and processes of pursuing produced-water recycling operations in Texas as opposed to New Mexico. The operations discussed were executed and managed on the Texas side. While contractor familiarity can be beneficial during the planning stages, the operator also must be well-versed in applicable regulations. It is advisable to consult with legal counsel regarding liability should an unplanned discharge event occur. Lease Development History Before the beginning of initial completions operations, three freshwater wells were drilled on-lease with the intention of use for fracturing operations. The flow rate from the three wells was insufficient to keep up with fracturing operations by an aboveground storage tank (AST). A large-volume fracturing pit was not constructed. The initial completion on Well 1, targeting the Wolfcamp C bench, was executed primarily with fresh water sourced from a third-party pit that was transferred to a nearby AST. During production, Well 1 maintained a high water cut (greater than 90%) and produced a significant amount of water over time. Additional infrastructure would be required to fully exploit the existing freshwater wells as a source for future completions activity. Operator break-even treatment costs have been determined to be the most favorable when using a centralized pipeline water-management program. A pit would act as a centralized gathering point with temporary pipeline infrastructure for water-transfer purposes. An internal economic analysis was undertaken to determine construction costs for a pit that could accommodate 500,000 bbl or 1,000,000 bbl of fresh water. The option of constructing a pit that could handle produced water also was included for comparison.

Continuous innovation in factor credit strategies

There is an large body of academic literature that documents the existence of factor premiums that enable investors to construct portolios that generate better risk-adjusted returns than passive investing. To ensure that such factor-based investment strategies continue to deliver on their objectives, continuous innovation is required, for example by further enhancing factor definitions and investment processes and investigating alternative sources of data. In this article we show two examples of recent innovations in the field of factor investing for corporate bonds.In the first study, we document how factors can be successfully applied to hard-currency emerging market credits. Size, low-risk, value and momentum factor portfolios outperform the emerging market credit universe on a risk-adjusted basis, for example shown by higher Sharpe ratios. A multi-factor portfolio moreover benefits from diversification between the individual factors and obtains the highest information ratio. The factor portfolios benefit from bottom-up allocations to countries as well as from bond selection within these countries. Analysing the break-even transaction costs shows that these factors remain attractive after taking transaction costs into account. While generic factors offer a good starting point, more complete risk-assessments limit the exposure to unrewarded risk. In the second study, we extend previous research that showed that the text from annual and quarterly corporate reports filed with the Securities and Exchange Commission can be used to predict equity returns and volatility. We examine whether the text in these reports is informative for corporate bond returns and volatility as well. Particularly, we test if bonds of ‘non-changers’, companies with few changes in their reports over time, outperform bonds of ‘changers’. In a large sample of corporate bonds over a twenty year period we find that results for equities do carry over to corporate bonds: in both the investment grade and high yield sub-samples non-changers outperform changers by more than 50bps annually.

96 Assessing the Sustainability of Multiple Grass-fed and Grain-fed Beef Production Systems

Abstract Increased demand for grass-fed beef raises many producers’ and consumers’ concerns regarding product quality, economic viability, and environmental impacts that have gone unanswered. Therefore, using a holistic approach, we investigated the performance, carcass quality, financial outcomes, and environmental impacts of four typical grass-fed and conventional beef systems raised in a Mediterranean climate in the western United States. The treatments included: 1) steers stocked on pasture and feedyard finished for 128 days (CON); 2) steers grass-fed for 20 months (GF20); 3) steers grass-fed for 20 months with a 45-day grain finish (GR45); and 4) steers grass-fed for 25 months (GF25). The data were analyzed using a mixed model procedure in R. Data from these beef production systems, a weaning-to-harvest life cycle assessment (LCA) using the SPARKS-LCA model framework, to determine global warming potential (GWP), consumable water usage, energy, smog, and land use footprints. Final body weight varied significantly between treatments (P &amp;lt; 0.001) with CON finishing at 632 kg, followed by GF25 at 570 kg, GR45 at 551 kg, and GF20 478 kg. Dressing percentage differed significantly between all treatments (P &amp;lt; 0.001) with CON at 61.8%, followed by GR45 at 57.5%, GF25 at 53.4%, and GF20 at 50.3%. Breakeven costs with harvesting and marketing for the CON, GF20, GR45, and GF25 were $6.01, $8.98, $8.02, and $8.33 per kg hot carcass weight (HCW), respectively. The GWP for the CON, GF20, GR45, and GF25 were 4.79, 6.74, 6.65 and 8.31 CO2e/kg HCW, respectively. Water consumptive use for CON, GF20, GR45, and GF25 were 933, 465, 678 and 1245 L /kg HCW, respectively. Energy use for CON, GF20, GR45, and GF25 were 18.69, 7.65, 13.84 and 8.85 MJ /kg HCW, respectively. The results from this study indicate that differences in grass-fed beef management can have profound impacts on food security and sustainability.

Arbitrage analysis for different energy storage technologies and strategies

The time-varying mismatch between electricity supply and demand is a growing challenge for the electricity market. This difference will be exacerbated with the fast-growing renewable energy penetration to the grid, due to its inherent volatility. Energy storage systems can offer a solution for this demand-generation imbalance, while generating economic benefits through the arbitrage in terms of electricity prices difference. In the present study, a method to estimate the potential revenues of typical energy storage systems is developed. The revenue is considered as the income from the energy storage plant with various roundtrip efficiencies. Thus, an optimal methodology was developed to determine the largest revenue through the charging and discharging operations based on the price profile. It is then applied to the California market in the United States to investigate the potential economic performance of three primary energy storage technologies: Lithium-Ion Batteries, Compressed Air Energy Storage and Pumped Hydro Storage. In particular, the maximum daily revenue from arbitrage is calculated considering various strategies of charging and discharging times as well as the technology’s roundtrip efficiency. The estimated capacity cost of energy storage for different loan periods is also estimated to determine the breakeven cost of the different energy storage technologies for an arbitrage application scenario. Pumped hydro storage (PHS) is found to be the most cost-effective but is not a good candidate for increased capacity in many countries due to concerns associated with developing new dams. Compressed Air Energy Storage (CAES), was found to be the second most cost-effective but still requires much more technology development before it is ready for widespread usage. Lithium battery is well-developed but is currently much too costly (by a factor of four) for a large scale energy storage application. The proposed method can be applied as these and other technologies and their associated costs evolve.

Does the choice of stock selection criteria affect the performance of Sharīʿah-compliant equity portfolios?

Purpose There are a number of differences in the current Sharīʿah screening guidelines formulated by Sharīʿah scholars associated with world-renowned index providers and financial institutions. The purpose of this study is to highlight the consequences of such differences on the portfolio level outcomes for Sharīʿah-compliant investors. This study also investigates the cost of adopting an alternative stock selection methodology. Design/methodology/approach Seven Sharīʿah-compliant equity portfolios (SCEPs) are created from the active constituents of the S&amp;P 500. Size, sector allocation and financial performance of the resulting seven portfolios are evaluated for the period 1984–2019. Style analysis is performed to attribute the difference in financial performance caused by the choice of selection criteria to different risk factors. The cost of switching the selection criteria is evaluated with turnover analysis and break-even transaction cost. Findings The choice of stock selection criteria has a significant effect on the size, sector bets and financial performance of the portfolios. Those portfolios which are constructed with market capitalization-based screens outperform portfolios constructed with total assets-based screens. The turnover analysis revealed that SCEPs are relatively costly in practice. Originality/value This study investigates the performance of Sharīʿah-compliant portfolios in the context of seven different screening guidelines. The effects of transaction cost and performance attribution to different risk factors represent the key contributions of this study.

Techno-Economic Analysis of Candidate Oxide Materials for Thermochemical Storage in Concentrating Solar Power Systems

The thermal storage capability is an important asset of state-of-the-art concentrating solar power plants. The use of thermochemical materials, such as redox oxides, for hybrid sensible/thermochemical storage in solar power plants offers the potential for higher specific volume and mass storage capacity and as a consequence reduced levelized cost of electricity making such plants more competitive. For the techno-economic system analysis, three candidate redox materials were analyzed for their cost reduction potential: cobalt-based, manganese–iron–based, and perovskite-based oxide materials. As a reference process the use of inert commercial bauxite particles (sensible-only storage) was considered. A solar thermal power plant with a nominal power of 125 MWe and a storage capacity of 12 h was assumed for the analysis. For each storage material a plant layout was made, taking the specific thermophysical properties of the material into account. Based on this layout a particle break-even cost for the specific material was determined, at which levelized cost of electricity parity is achieved with the reference system. Cost factors mainly influenced by the material selection are storage cost and steam generator cost. The particle transport system cost has only a minor impact. The results show differences in the characteristics of the materials, for example, regarding the impact on storage size and cost and the steam generator cost. Regarding the economic potential of the candidate redox materials, the perovskite-based particles promise to have advantages, as they might be produced from inexpensive raw materials.

Biosecurity in Village and Other Free-Range Poultry-Trying to Square the Circle?

Village poultry commonly suffer significant disease related losses and a plethora of biosecurity measures is widely advocated as a means to reduce morbidity and mortality. This paper uses a household economy perspective to assess some “economic” considerations determining biosecurity investments of village poultry keepers. It draws on the 2012/13 Tanzania National Panel Survey (TZ-NPS), which covered 1,228 poultry-keeping households. Disease was the most frequently reported cause of bird losses and, in the majority of households, accounted for more than half of reported bird losses. However, given that poultry rarely contributed more than 10% to total annual household income, for 95% of households the value of birds lost to disease represented <10% of annual income. The value placed on poultry within households may vary by gender and the overall figure may mask differential intra-household impacts. The break-even cost for various levels of reduction of disease losses is estimated using a partial budget analysis. Even if achieved at no cost, a 75% reduction in disease-associated mortality would only result in a one percent increase of annual household income. Thus, to the “average” village poultry-keeping household, investments in poultry may not be of high priority, even when cost-effective. Where risks of disease spread impact on the wider community and generate significant externalities, poultry keepers must be supported by wider societal actions rather than being expected to invest in biosecurity for purely personal gain.

Model-Based Re-Examination of the Effectiveness of Tumor/Immunohistochemistry and Direct-to-Sequencing Protocols for Lynch Syndrome Case Finding in Endometrial Cancer.

Despite widespread provision of Lynch syndrome (LS) screening programs, questions remain about the most effective and efficient protocol for LS case finding. The purpose of this study was to explore the performance of the two protocols widely shown to be the most efficient and effective, respectively: immunohistochemical (IHC) staining of tumor and direct-to-sequencing (DtS) in endometrial cancer populations. Simulation models were developed to explore performance of the IHC and DtS protocols, updated to reflect current evidence. Analyses explicitly account for protocol complexity and failure points, as well as decreased sequencing costs. Key outcomes are percent of LS cases identified, total protocol costs and efficiency, and break-even analyses of sequencing costs. All costs are in 2020 US dollars (USD). Under plausible conditions, the IHC protocol is expected to identify 40%-78% of LS cases and DtS protocol from 49% to 97%. When the key variable success in proceeding to sequencing is fixed for both protocols at 50%, 75%, and 100%, the DtS protocol is 9%, 12%, and 16% better at case finding, respectively, than the IHC protocol. The break-even cost of sequencing is about $488 USD when the outcome is total direct testing protocol costs; it is about $670 USD when the outcome is cost per LS case detected. This study quantifies the plausible differences in the clinical effectiveness and cost-effectiveness of the two LS case-finding protocols. We demonstrate the large influence of success in proceeding to sequencing and potential impact of decreasing sequencing prices.