<p> Construction materials cost estimation is considered one of the most important tasks in the development of project budget. Using material hedging to mitigate the risk of material price volatility is a new concept for construction companies.</p><p> This thesis matched material hedging with the fuel hedging application utilized by airlines. The weather hedging process was used as a precedent for material hedging application in the construction industry. This thesis developed a model to provide a step by step guidance to apply material hedging in the construction industry. Further, this thesis matched its model with the model presented by Macdonald (2013) and provided a lower level of detail to support actual implementation of material hedging.</p><p> Future work in this area could be the investigation of material hedging cost to decide if the hedging application is feasible. Also, validity and reliability of the model presented by this thesis should be investigated. </p>

In Part I, two pool-based electricity market models are compared in terms of their economic impact on the market participants, the Lossless Economic Dispatch (LED) and the Optimal Power Flow (OPF). The OPF is shown to be economically more efficient, more accurate and more equitable to the participants. / In Part II, a stochastic electricity market simulator (SEMS) is designed using elements of Monte Carlo methods and game theory. Each generator is assumed to operate in a stochastic manner, according to a bid strategy composed of a set of pre-established bid instances and a corresponding set of bid probabilities. The Pool dispatches power and defines prices according to either the LED or OPF models from Part I. Generators can update their bidding strategies according to a profit performance index reflecting their degree of risk tolerance, Chicken (risk averse), Average, and Cowboy (risk taker). SEMS can predict issues such as unintended collusion, as well as to evaluate bidding strategies.

Thesis (Ph.D.)--Indiana University, Kelley School of Business, 2007. / Source: Dissertation Abstracts International, Volume: 68-09, Section: A, page: 3966. Adviser: Eric B. Rasmusen. Title from dissertation home page (viewed May 5, 2008).

Thesis (Ph.D.)--Indiana University, Kelley School of Business, 2007. / Source: Dissertation Abstracts International, Volume: 68-07, Section: A, page: 3030. Adviser: Alan M. Rugman. Title from dissertation home page (viewed Apr. 9, 2008).

Thesis (Ph.D.)--Indiana University, Dept. of Economics, 2008. / Title from PDF t.p. (viewed on May 11, 2009). Source: Dissertation Abstracts International, Volume: 69-08, Section: A, page: 3253. Advisers: Michael Baye; Michael Rauh.

Thesis (Ph.D.)--Indiana University, Computer Science Dept., 2007. / Title from dissertation home page (viewed Sept. 29, 2008). Source: Dissertation Abstracts International, Volume: 69-02, Section: B, page: 1103. Adviser: Dennis Gannon.

Thesis (Ph.D.)--University of Illinois at Urbana-Champaign, 2007. / Source: Dissertation Abstracts International, Volume: 68-06, Section: A, page: 2587. Adviser: Scott H. Irwin. Includes bibliographical references (leaves 94-101) Available on microfilm from Pro Quest Information and Learning.

Thesis (Ph.D.)--Indiana University, School of Business, 2009. / Title from PDF t.p. (viewed on Jul 12, 2010). Source: Dissertation Abstracts International, Volume: 70-12, Section: A, page: 4791. Adviser: Michael R. Baye.

Thesis (Ph.D.)--Indiana University, 2005. / Source: Dissertation Abstracts International, Volume: 66-08, Section: A, page: 3030. Chair: Michael R. Baye. Title from dissertation home page (viewed Oct. 5, 2006).

Thesis (Ph.D.)--University of Illinois at Urbana-Champaign, 2006. / Source: Dissertation Abstracts International, Volume: 67-11, Section: A, page: 4273. Adviser: Leonardo Rezende. Includes bibliographical references (leaves 64-66) Available on microfilm from Pro Quest Information and Learning.