Target diameter harvesting (TDH) is a forest management system in which all stems above a set minimum diameter are harvested on a periodic basis. There is evidence in the literature that TDH can achieve a rate of return on a similar scale to a clearfelling regime, with added benefits of regular cash flow from partial harvests, and preservation of non-timber values. Economic analysis was carried out on 12 years of TDH using permanent sample plot (PSP) data from Woodside Forest, a 30ha plantation of radiata pine (Pinus radiata). The Woodside Forest management regime has a target diameter of 60cm, and a harvest cycle of two years. Economic analysis considered the option to partial harvest or clearfell every two years, and compared the outcome of each option in terms of land expectation value (LEV). Comparisons are made between regimes with different numbers of partial harvests, assessing the effect of TDH on stand LEV. Results show that in three of four applicable stands, LEV reached a maximum at ages 30 – 32, (near the time when partial harvesting commenced), and reduced slowy with increased numbers of partial harvests. This shows there is a small opportunity cost associated with choosing TDH over a clearfell system. The effect of revenue from early partial harvesting operations on LEV was small as the majority of stand value is still in the standing crop. This limited the conclusions that can be drawn form this study due to the short time frame analyzed. The study was limited by a small dataset which did not accurately represent average stand values. Because of this, no attempt to quantify the value of the opportunity costs was made. Despite this, the results support the notion that TDH can achieve economic returns similar to clearfelling in radiata pine forests.

An investigation was undertaken to determine the feasibility of increasing the hydrogen production rate by coupling the water gas shift (WGS) process to the hybrid sulphur process (HyS). This investigation also involved the technical and economical analysis of the water gas shift and the H2 separation by means of Pressure swing adsorption (PSA) process. A technical analysis of the water gas shift reaction was determined under the operating conditions selected on the basis of some information available in the literature. The high temperature system (HTS) and low temperature system (LTS) reactors were assumed to be operated at temperatures of 350ºC and 200ºC, respectively. The operating pressure for both reactors was assumed to be 30 atmospheres. The H2 production rate of the partial oxidation (POX) and the WGS processes was 242T/D, which is approximately two times the amount produced by the HyS process alone. The PSA was used for the purification process leading to a hydrogen product with a purity of 99.99%. From the total H2 produced by the POX and the WGS processes only 90 percent of H2 is recovered in the PSA. The unrecovered H2 leaves the PSA as a purge gas together with CO2 and traces of CH4, CO, and saturated H2O. The estimated capital cost of the WGS plant with PSA is about US$50 million. The production cost is highly dependent on the cost of all of the required raw materials and utilities involved. The production cost obtained was US $1.41/kg H2 based on the input cost of synthesis gas as produced by the POX process. In this case the production cost of synthesis gas based on US $6/GJ for natural gas and US $0/Ton for oxygen was estimated to be US $0.154/kg. By increasing the oxygen and natural gas cost, the corresponding increase in synthesis gas has resulted in an increase in H2 production cost of US $1.84/kg. / Thesis (M.Sc. (Chemical Engineering))--North-West University, Potchefstroom Campus, 2006.

Typical accounting studies attempting to explain accounting method choice employ positive theoretical hypotheses and test for association between adoption method or adoption timing and economic measures that focus upon specific firm stakeholders. Such studies addressing the adoption and impact of SFAS 87, "Employer's Accounting for Pensions," yield mixed and contradicting results. Various researchers have suggested that traditional economic analysis often fails to capture important explanatory variables and is far too simplistic. The purpose of this study is to expand analysis by evaluating a particular accounting choice by means of three different characterizations. SFAS 106, "Employers' Accounting for Postretirement Benefits Other than Pensions," allows management to choose between two very different methods of adopting the standard. The principal question explored in this study is: why did managers of firms that employ defined benefit postretirement plans for benefits other than pensions choose to adopt SFAS 106 using a particular method? The research question is explored by means of three different characterizations: 1) a traditional economic characterization; 2) a sociopolitical characterization); and 3) a joint decision characterization. Logit methodology is used with method of SFAS 106 adoption as the binary dependent variable of interest. Results indicate that all three characterizations are important in understanding the SFAS 106 adoption method choice. Further, each characterization adds separate information toward comprehension of the choice, supporting the notion of the complexity of accounting choice issues.

Brayton cycles are open gas turbine cycles extensively used in aviation and industrial applications because of their advantageous volume and weight characteristics. With the bulk of waste exhaust heat and engine emissions associated, there is need to be mindful of environmentally-friendliness of these engine cycles, not compromising good technical performance, and economic viability. This research considers assessment of power plants in helicopters, and aeroderivative industrial gas turbines combined-heat-and-power (ADIGT-CHP) in the petrochemical industry. Thus, it consists of two parts: part A focuses on performance analysis of helicopter gas turbines, while part B entails technoeconomic and environmental risk assessment of ADIGT-CHP in the petrochemical industry. The investigation encompasses comparative assessment of simple cycle (SC) and advanced gas turbine cycle options including the component behaviours and the environmental and economic analysis of the systems. The advanced cycles considered include: recuperated (RC), intercooled (IC), intercooled-recuperated (ICR), and low pressure compressor zero-staged (LPC-ZS), cycles. The helicopter engines are analysed and subsequently converted to small-scale ADIGT engines. Also, modelling combined-heat-and-power (CHP) performances of small-scale (SS), and large-scale (LS) ADIGT engines is implemented. More importantly, a large part of the research is devoted to developing a techno-economic model for assessing, predicting, and comparing viability of simple and advanced cycle ADIGT-CHP in the petrochemical industry in terms of net present value (NPV), internal rate of return (IRR), and simple payback period (SPBP). The techno-economic performances of the ADIGT-CHP cycles are measured against the conventional case of grid power plus on-site boiler. Besides, risk and sensitivity of NPV with respect to uncertain changes in grid electricity cost, gas fuel cost, emission cost, and electricity export tariff, are investigated. Two case studies underlie the development of the techno-economic model. One case study demonstrates the application of the model for large-scale (LS) ADIGT-CHP, and the other for small-scale (SS) ADIGT-CHP, all in the petrochemical industry. By so doing, techno-economic and environmental risk analysis framework (a multi-disciplinary preliminary design assessment tool comprising performance, emissions, economic, and risk modules) is adapted to ADIGT-CHP in the petrochemical industry, which is the aim of this research. The investigation and results led to the conclusions that advanced cycle helicopter and ADIGT engines exhibit higher thermal efficiencies than simple cycle, and that savings exist in operational costs of ADIGT-CHP above the conventional case. Thus, for both SS ADIGT-CHP, and LS ADIGT-CHP cases, all ADIGT-CHP cycles are profitable than the conventional case. For LS ADIGT- CHP category, the IC ADIGT-CHP is the most profitable, whereas for SS ADIGT-CHP category, the RC ADIGT-CHP is the most profitable. The contribution to knowledge of this research is the development of a technoeconomic model for assessing, predicting, and comparing viability of simple and advanced cycle ADIGT-CHP in the petrochemical industry in terms of NPV, SPBP, and IRR over the conventional case of grid power plus on-site boiler. A second contribution is the derivation of simple and advanced cycle small-scale ADIGT and ADIGT-CHP from helicopter engines. Cont/D.

OF THE DIPLOMA THESIS The Economic Analysis of Law in Case-Law Pavlína Hubková According Richard Posner, "economics is a powerful tool for analyzing a vast range of legal questions but most lawyers have difficulty connecting economic principles to concrete legal problems." This diploma thesis focuses on the clash between law and economics and on those difficulties lawyers may have when applying economic analysis of law. It tries to identify borders between two fields of study and problems or obstacles which are faced by judges. In concrete, the thesis deals with the economic analysis of law in the domain of competition law. The thesis is divided into a theoretical part and an empirical part. The theoretical part includes four chapters. The first chapter characterizes the economic analysis of law in general, it provides with a short history of this approach to law, opinions of its proponents as well as critics and a summary of utility of economics in law. The second chapter then refers specifically to the role of economic analysis in judicial decision-making. Competition law as an "explicitly economic field" is presented in the third chapter. The core of the thesis is to be found in the next chapter which focuses on the problems and obstacles which judges have to face and potentially overcome when...

Economic Analysis of Law in the Field of Liability for Damages This thesis focuses on the application of economic analysis of law, which is an approach enabling an alternative view of legal institutions because of its specific methodology. Although this theoretical school originated in the common law system, which is still its realm, the thesis shows potential overlaps to the system of civil law. Questions concerning civil liability for damages are examined as an example of a possible application. The initial chapter of the thesis is concerned with introducing the economic analysis of law. At first, it briefly describes its historical development including links to some related schools. Foundations, areas of resesarch, basic concepts and methodology are also examined in this chapter. The specific application of economic approach in relation to civil liability for damages is discussed in the second part. It describes the choice between negligence and strict liability, problem of causation and procedural aspects of claims for compensation for damage. Special attention is drawn to the Learned Hand test established by case-law as a method to assess the conditions of liability. This method is based on considering economic criteria using a cost analysis. The part dealing with behavioral findings extending...

Master of Science / Department of Electrical and Computer Engineering / Anil Pahwa / Energy costs are rising, supplies of fossil fuels are diminishing, and environmental concerns surrounding power generation in the United States are at an all-time high. The United States is continuing to push all states for energy reform and where better for Kansas to look than wind energy? Kansas is second among all states in wind generation potential; however, the best wind generation sites are located predominantly in sparsely populated areas, creating energy transportation problems. Due to these issues interest in community wind projects has been increasing. To determine the economic potential of community wind generation a distribution system in rural western Kansas where interest in community wind exists was examined and a feasibility study based on historical data, economic factors, and current grid constraints was performed. Since the majority of the load in this area is from pivot-point irrigation systems, load distributions were created based on temperature ranges instead of a linear progression of concurrent days. To test the economic viability three rate structures were examined: flat energy rate, demand rate, and critical peak pricing. A Monte Carlo simulation was designed and run to simulate twenty-year periods based on the available historical data; twenty-year net present worth calculations were performed to ensure economic viability. A sensitivity analysis was then performed to examine the effects of change in turbine size and energy rate scale. Finally, an energy storage analysis was performed to examine the economic viability of various sizes of battery storage systems.

Master of Agribusiness / Department of Agricultural Economics / Bryan Schurle / The milling of wheat into white flour is a high volume, low margin business. Flour is a commodity. Competition is fierce. Over the past several years, there have been several mergers and acquisitions leading to fewer, but larger flour mills. The number of companies in the flour milling business has diminished as well. Flour sold in small packages on the grocery store shelf is but a small part of the business these days. Most flour is sold to commercial bakers in large bags or bulk trucks. The process of milling wheat into white flour consists of numerous variables within an extensive collection of equipment. It is the job of the miller to minimize the negative impact of these variables or at least hold constant as many of these variables as possible while achieving the best efficiency possible. To lessen the effect of these numerous variables on a large extensive system makes for a well running operation. When efficiency is achieved, a flour milling operation can be a profitable venture. A number of the variables that influence efficiency are affected by the amount of flour storage that a flour mill has. This thesis examines the benefits of flour storage as related to flour process efficiencies in milling. With flour mills operating at large output capacities, it is necessary for a flour mill to have adequate bulk flour storage bins as well as the right amount of warehouse space. Changes from one type flour to another in a flour mill require some time and an abundance of intervention by a skilled operator or miller. Having the proper amount of storage space makes it possible to minimize changes as well as the opportunity to optimize production of each specific flour type that is processed on the mill. To justify capital project money to invest in the proper amount of storage can be a challenge. Warehouse space and bulk flour storage can be expensive, and it is difficult to quantify how theoretical improvements will increase production and quality in the end product of flour. Using regression methods, production data obtained from an average sized commercial flour mill was used to estimate the increase in extraction due to a longer length of run allowed by the addition of storage space. By increasing the time a mill stays on a specific wheat mix to a minimum of twenty hours, there is a theoretical increase in extraction of 1.02 percentage points, resulting in wheat savings of over $500,000 per year. This resulting savings on the raw input material showed that capital expenditures on storage can be justified. A positive net present value and good internal rate of return show that the increased efficiency due to longer lengths of run justified the additional expense of the additional storage capacity. As volatility and the price per bushel of grain continue to increase, having the proper plant infrastructure with regard to storage space is of the utmost importance. Other benefits of storage will be realized as well in the area of flour quality and customer service.

The subject of the thesis, the course of the budgetary process and economic analysis of Pelhřimov indebtedness of the town and the effect of this moment of crisis to profit center. On the basis of theoretical facts and practical findings was analyzed past financial management of the city in 2006 - 2009. The thesis concentrates especially on the most significant budget item, which means they come from and derive income. In the end was analysed financing of municipal budget, debt and built the financial outlook.

O uso de microalgas e cianobactérias para a produção de biocombustíveis e outros produtos e matérias-primas de interesse comercial tem sido amplamente divulgado como uma tecnologia sustentável bastante promissora, em função das elevadas produtividades areais, potencial para fixação de CO2, uso de terras não adequadas para cultivo e possibilidade de utilizar fontes alternativas de nutrientes, tais como água salobra ou efluentes agroindustriais. A produção comercial de cianobactérias em tanques abertos em formato de pista foi estudada combinando-se a modelagem matemática do crescimento nos tanques com a avaliação técnica, econômica e de sustentabilidade do processo. Construiu-se um macromodelo para a simulação dos tanques, que permitiu determinar o impacto de variáveis ambientais como, por exemplo, temperatura e luminosidade, e otimizar condições de operação e coleta. A análise econômica detalhada demonstrou o impacto dos custos de capital, operação e consumo de energia pelo processo, também destacando a importância da receita de produtos de alto valor agregado para a viabilidade do sistema, com base na tecnologia atual. Os valores de transformidade e índices de sustentabilidade e carga ambiental, obtidos através da análise emergética, são comparáveis com outros processos para obtenção de biocombustíveis de segunda geração, mas os elevados custos de construção e operação e grande consumo de energia nas etapas de coleta e extração representam ainda grandes desafios à sua sustentabilidade. A análise de sensibilidade para as principais variáveis de processo e estudos de caso para melhorias e modelos de negócio alternativos permitiram priorizar áreas para pesquisa futura com base no impacto econômico e ambiental. / The use of microalgae and cyanobacteria for the production of biofuels and other substances of commercial interest has been widely advertised as an extremely promising sustainable technology, due to the high areal productivity, potential for fixation of CO2, possibility of using non-arable land and alternative sources of nutrients such as brackish water and agricultural and industrial effluents. The commercial production of cyanobacteria in open raceway ponds was studied through the combination of a mathematical model for the algal growth with technical, economical and sustainability evaluations. A macromodel was developed to simulate the ponds, and it was used to assess the impact of environmental variables, such as light and temperature, and to optimize the process conditions for operation and harvesting. A detailed economic analysis demonstrated the impact of capital, operation costs and energy consumption, also highlighting the importance of revenue from high value products to process viability, considering the current technology. The transformity, emergy sustainability and environmental loading indices obtained by emergy analysis are comparable to other second generation biofuels, but the high construction and operation costs and energy consumption by the harvesting and extraction steps still represent major challenges to sustainability. The sensitivity analysis and evaluation of both technology improvements and alternative business models enabled the prioritization of future research areas, based on economic and environmental impact.