Detta är ett examensarbete på kandidatnivå på Lantmätarprogrammet med ekonomiskoch juridisk inriktning vid Högskolan i Gävle. Arbetet utförs på initiativ ochuppdrag av Riksförbundet Enskilda Vägar och handlar om ledningsrätt i enskild väg.Målet med studien är att utreda om samfällighetsföreningar har intressen och rättighetersom faller utanför lantmäteriförrättningen, identifiera orsaken samt ge konkretalösningsförslag. För att uppfylla studiens mål har följande frågeställningar formulerats:Hur upplåts ledningsrätt i praktiken inom en enskild väg som förvaltas av en samfällighetsförening? samt Har samfällighetsföreningar intressen, som borde beaktas, som fallerutanför ledningsrättsförrättningen? För att besvara ovanstående frågeställningar har intervjuer genomförts med RiksförbundetEnskilda Vägar, Lantmäteriet, ledningsägare samt en samfällighetsförening.Det har även sammanfattats ett antal förrättningsakter och rättsfall som varit av betydelseför studien. Det som kunde konstateras utifrån resultatet och diskussionen var att även fast ledningsrättutförs korrekt i praktiken innebär det inte att brister inte kan förekomma.Detta tros bero på bland annat de överenskommelser som kan ligga till grund förmånga ledningsrätter. Vidare kunde slutsatsen dras att de bestämmelser och standarddokumentsom används i ledningsrättsbesluten inte är anpassade utefter enskildavägar, vilket gör att några av samfällighetsföreningarnas intressen faller utanför förrättningen.Till exempel finns inga strikta bestämmelser kring ledningsrättens placering,återställning av vägen, hur arbetet bör utföras eller någon form av trafikanordningsplan.Detta bör åtgärdas genom att utbilda förrättningslantmätare i hur de börbemöta enskilda väghållare samt anpassade standarddokument och bestämmelser utefterenskilda vägar. Förslagsvis genom ett samarbete mellan Lantmäteriet och RiksförbundetEnskilda Vägar. / This is a bachelor thesis at the Study Programme in Land Management with financialand legal focus at the University of Gävle. This study is on the initiative and missionof the Swedish private road association, in Swedish Riksförbundet Enskilda Vägar, andis about the utility easement in private roads. The aim of this study is to investigatewhether joint road management associations has interests and rights that’s not consideredin the utility easement procedure, identify the cause and give concrete solutionsto the problem. In order to fulfill the objectives of the study, the followingquestions have been formulated: How is utility easement actually established within a privateroad that is managed by a joint road management association? and Do joint road managementassociations have interests, that should be taken into consideration, that’s not attendedin the utility easement procedure? In order to answer the questions above, interviews have been conducted with theSwedish private road association, the National Land Survey authority, owners ofutilities and a joint road management association. Several cadastral dossiers and legaldocuments, which has been of importance for the study, has also been summarized. What could be ascertained based on the results and the discussion was that eventhough the utility easement procedure is carried out correctly in practice, it doesnot mean that deficiencies cannot occur. This is believed to be due, among otherthings, to the agreement that the utility easement right is based. Furthermore, itcould be concluded that the regulations and standard documents used in the utilityorder are not adapted according to private roads, which means that some of the jointroad management association's interests are not considered in the utility easementprocedure. For example, there are no strict regulations regarding the location of theutility easement, restoration of the road, how the work should be carried out orsome sort of planning for the traffic during the utility construction. This should beremedied by educating the cadastral surveyors in how they should pay regard to privateroad owners as well as adapting the standard documents and regulations to privateroads. Suggested through a collaboration between the National Land Survey authoritiesand the Swedish private road association.

We give a review of classical and recent results on maximization of expected utility for an investor who has the possibility of trading in a financial market. Emphasis will be given to the duality theory related to this convex optimization problem. For expository reasons we first consider the classical case where the underlying probability space is finite. This setting has the advantage that the technical diffculties of the proofs are reduced to a minimum, which allows for a clearer insight into the basic ideas, in particular the crucial role played by the Legendre-transform. In this setting we state and prove an existence and uniqueness theorem for the optimal investment strategy, and its relation to the dual problem; the latter consists in finding an equivalent martingale measure optimal with respect to the conjugate of the utility function. We also discuss economic interpretations of these theorems. We then pass to the general case of an arbitrage-free financial market modeled by an R^d-valued semi-martingale. In this case some regularity conditions have to be imposed in order to obtain an existence result for the primal problem of finding the optimal investment, as well as for a proper duality theory. It turns out that one may give a necessary and sufficient condition, namely a mild condition on the asymptotic behavior of the utility function, its so-called reasonable asymptotic elasticity. This property allows for an economic interpretation motivating the term "reasonable". The remarkable fact is that this regularity condition only pertains to the behavior of the utility function, while we do not have to impose any regularity conditions on the stochastic process modeling the financial market (to be precise: of course, we have to require the arbitrage-freeness of this process in a proper sense; also we have to assume in one of the cases considered below that this process is locally bounded; but otherwise it may be an arbitrary R^d-valued semi-martingale). (author's abstract) / Series: Report Series SFB "Adaptive Information Systems and Modelling in Economics and Management Science"

I consider continuous time asset pricing models with stochastic differential utility incorporating decision makers' concern with ambiguity on true probability measure. In order to identify and estimate key parameters in the models, I use a novel econometric methodology developed recently by Park (2008) for the statistical inference on continuous time conditional mean models. The methodology only imposes the condition that the pricing error is a continuous martingale to achieve identification, and obtain consistent and asymptotically normal estimates of the unknown parameters. Under a representative agent setting, I empirically evaluate alternative preference specifications including a multiple-prior recursive utility. My empirical findings are summarized as follows: Relative risk aversion is estimated around 1.5-5.5 with ambiguity aversion and 6-14 without ambiguity aversion. Related, the estimated ambiguity aversion is both economically and statistically significant and including the ambiguity aversion clearly lowers relative risk aversion. The elasticity of intertemporal substitution (EIS) is higher than 1, around 1.3-22 with ambiguity aversion, and quite high without ambiguity aversion. The identification of EIS appears to be fairly weak, as observed by many previous authors, though other aspects of my empirical results seem quite robust. Next, I develop an approach to test for martingale in a continuous time framework. The approach yields various test statistics that are consistent against a wide class of nonmartingale semimartingales. A novel aspect of my approach is to use a time change defined by the inverse of the quadratic variation of a semimartingale, which is to be tested for the martingale hypothesis. With the time change, a continuous semimartingale reduces to Brownian motion if and only if it is a continuous martingale. This follows immediately from the celebrated theorem by Dambis, Dubins and Schwarz. For the test of martingale, I may therefore see if the given process becomes Brownian motion after the time change. I use several existing tests for multivariate normality to test whether the time changed process is indeed Brownian motion. I provide asymptotic theories for my test statistics, on the assumption that the sampling interval decreases, as well as the time horizon expands. The stationarity of the underlying process is not assumed, so that my results are applicable also to nonstationary processes. A Monte-Carlo study shows that our tests perform very well for a wide range of realistic alternatives and have superior power than other discrete time tests.

The objective of this thesis is to investigate the preferences of individuals for the management of upland landscapes in the UK. Environmental valuation techniques are becoming an increasingly important tool in the development of environmental management policy, however, they are not without their detractors. In particular a school of thought, developed from the work of Bentham, takes issue with the behavioural foundations of the dominant welfare economic doctrine which underpins many of the valuation techniques commonly adopted. They identify that heuristic rules, experience and memory can all play a role in the development of ‘value’ for a good. This thesis aims to investigate the roles of these, along with the role of association with an environmental good, in the development of value for upland landscapes using the Peak District National Park as a case study. This objective is developed in three parts. Part I introduces the topic, identifies the background of research against which this thesis is presented and introduces the case study. This part also attempts to identify how well the complex economy – ecology interactions in this landscape are understood by stakeholders. It shows that, given the complexities of the systems, there are key omissions in stakeholder knowledge and understanding. Part II uses Discrete Choice Experiments to analyse the impact on value of experience, memory, heuristics and association. A series of experiments are applied to the same landscape characteristics in order to achieve this. The results show that value can be impacted in a number of ways with implications for the development of future valuation studies. This thesis concludes with a discussion of the policy implications, limitations and future work associated with this research.

Stress and time pressure is more present in todays labor markets. In financial markets a securities broker is forced to take decisions on investments under high cognitive load and under extreme time pressure. The research of decision under risk gained new ground with the development of the prospect theory and gave us new insights to the decision making of men. Prospect theory has shown that people are risk seekers when dealing with loss decisions and risk avert when dealing with profit decisions. The value function are defined over gains and losses. Losses looms larger then gains. Although much research conducted on the decision making under risk no previous research have been done showing how time pressure affects decision at risk by using skin conductance. This paper aimed through a randomized experiment with 23 participants examine how time pressure affects individuals' decisions related to risk. Furthermore, it intends to analyze whether time pressure mediate a possible effect of stress by using skin conductance. The results show that there is an increase in risk aversion for gains. This risk aversion was also statistically significant at the 1% level when each participant's responses were used and almost at 5% level when the mean values from each participant was used. Upon loss a risk -seeking behavior could be noticed but it was not statistically significant at the 5 % level. Stress levels as measured by skin conductance showed that the time-pressed group showed signs of stress. However, no stress data was significant at the 5 % level. / Stress och tidspress är idag allt mer närvarande på arbetsmarknaden. På de finansiella marknaderna kan en värdepappersmäklare tvingas ta beslut om investeringar under hög kognitiv belastning och under en extrem tidspress. Forskningen av beslut under risk har genom prospect theory gett oss nya insikter om vilka beslut vi människor tar. Prospect theory har visat att människor är risksökande vid förlustfrågor och riskaversiva vid vinstfrågor. Prospect theorys värdefunktion är definierad över vinst och förlust. Förluster väger tyngre än vinster. Trots att mycket forskning genomförts på beslut vid risk har ingen tidigare forskning hur tidspress påverkar beslut vid risk med hjälp av hudkonduktans tidigare genomförts. Denna uppsats hade som mål att genom ett randomiserat experiment med 23 deltagare undersöka hur tidspress påverkar individers beslut kopplade till risk. Vidare är syftet att också analysera om upplevd stress medierar en eventuell effekt av tidspress genom att använda hudkonduktans. Resultatet visar att det finns en ökad riskaversion vid vinstfrågor. Denna riskaversion var även statistiskt säkerställd på 1% nivå när varje deltagares svar användes och nästan på 5% nivå då medelvärden från varje deltagare användes. Vid förlustfrågor fanns ett risksökande beteende men den var ej statistiskt säkerställd på 5% nivå. Stressnivåerna som uppmättes med hudkonduktans visade att den tidspressade gruppen blev stressade. Dock var inga stressdata signifikanta på 5% nivå.

A noção pátria de serviço público é concebida a partir dos conceitos de serviço público e de serviço de utilidade pública oriundos, respectivamente, da França e dos Estados Unidos da América. Esses conceitos foram introduzidos no Brasil por ação doutrinária à luz da Constituição de 1891. Parte do resultado dessas discussões foi positivada no texto constitucional de 1934. A partir daí o tema figurou em todas as Constituições subsequentes. A Constituição de 1988, assim como as que a precederam, não veicula um conceito material de serviço público expresso em uma fórmula. A estrutura constitucional do conceito de serviço público é bastante complexa. O atual texto constitucional trata de serviço público em variados sentidos, os quais são dimensionados de formas diversas de acordo com as atividades abarcadas. Esses sentidos e dimensionamentos foram construídos ao longo da história constitucional, razão pela qual sua compreensão exige a análise dos textos das Constituições precedentes. Em linhas gerais, serviço público aparece no texto constitucional em três sentidos, quais sejam: o material, o orgânico e o formal. O sentido material é dimensionado nas acepções ampla e restrita. É no interior desse sentido, no qual a expressão serviço público significa atividade, que estão situados os critérios orgânico, formal e material, oriundos da tradição francesa. No âmbito do sentido material situam-se as maiores dificuldades e divergências sobre o tema. No sentido orgânico, serviço público se refere aos órgãos e entidades do Estado. No sentido formal, serviço público é um regime jurídico atribuível às competências materiais de cunho prestacional e natureza econômica do Estado. É no âmbito desse sentido que se encontra a função do conceito de serviço público. Alternativamente ao regime jurídico dos serviços públicos, a Constituição de 1988 prevê o regime jurídico de direito privado. Nesse regime jurídico a potencialização da concorrência é o elemento central, o que exige o desenvolvimento de mecanismos que facilitem o acesso pelos particulares ao setor. Tal acesso é facilitado pelo uso da autorização. A competência pública exercida pelos particulares por meio de autorização configura-se como serviço de utilidade pública à brasileira. A partir dessa estrutura conceitual é possível melhor compreender a noção de serviço público no âmbito dos Estados-membros e municípios e os modos de ação desses entes federados no domínio econômico. / The Brazilian concept of public service is created from the French notion of public service and the American notion of public utility. These ideas were introduced into Brazilian Law by doctrine following the Constitution of 1891. Part of the results of the debates stirred by the use of the diverging concepts got incorporated to the text of the Constitution of 1934. From then on, every subsequent Constitution addressed the issue. The Constitution of 1988, like the ones that preceded it, does not present a substantive concept of public service. The constitutional structure of the concept of public service is thoroughly complex. The current constitutional text treats public services in different senses, which are managed according to the activities comprehended by it. These senses have been constructed throughout our constitutional history, and for that reason, their comprehension requires an analysis of the preceding Constitutions’ texts. In broad lines, public services appear in the Constitution in three senses, which are: the substantive, the organic and the formal. The substantive sense is measured in broad and strict meanings. It is in the core of the substantive sense, in which public service means activity, that the French-born organic, formal and substantive senses are situated. It is regarding the substantive sense that the greatest difficulties and divergences concerning the theme arise. In the organic sense, public service refers to the public organs and entities. In the formal sense, public service is a legal regime attributable to the positive substantive competencies and the economic nature of the State. It is in regards to the substantive sense that the function of the concept of public service takes place. Alternative to the public services’ legal regime, the Constitution of 1988 also includes a private law legal regime. In this alternative regime, the increase of competition figures as central element, which demands mechanisms to enable private access to the area. Such access is facilitated by use of authorization. The public competency exerted by private initiative through authorization is known as Brazilian public utility service. From that conceptual structure, it is possible to better understand the notion of public service in the scope of member-states and counties, as well as the courses of action adopted by these federate entities on economy.

A noção pátria de serviço público é concebida a partir dos conceitos de serviço público e de serviço de utilidade pública oriundos, respectivamente, da França e dos Estados Unidos da América. Esses conceitos foram introduzidos no Brasil por ação doutrinária à luz da Constituição de 1891. Parte do resultado dessas discussões foi positivada no texto constitucional de 1934. A partir daí o tema figurou em todas as Constituições subsequentes. A Constituição de 1988, assim como as que a precederam, não veicula um conceito material de serviço público expresso em uma fórmula. A estrutura constitucional do conceito de serviço público é bastante complexa. O atual texto constitucional trata de serviço público em variados sentidos, os quais são dimensionados de formas diversas de acordo com as atividades abarcadas. Esses sentidos e dimensionamentos foram construídos ao longo da história constitucional, razão pela qual sua compreensão exige a análise dos textos das Constituições precedentes. Em linhas gerais, serviço público aparece no texto constitucional em três sentidos, quais sejam: o material, o orgânico e o formal. O sentido material é dimensionado nas acepções ampla e restrita. É no interior desse sentido, no qual a expressão serviço público significa atividade, que estão situados os critérios orgânico, formal e material, oriundos da tradição francesa. No âmbito do sentido material situam-se as maiores dificuldades e divergências sobre o tema. No sentido orgânico, serviço público se refere aos órgãos e entidades do Estado. No sentido formal, serviço público é um regime jurídico atribuível às competências materiais de cunho prestacional e natureza econômica do Estado. É no âmbito desse sentido que se encontra a função do conceito de serviço público. Alternativamente ao regime jurídico dos serviços públicos, a Constituição de 1988 prevê o regime jurídico de direito privado. Nesse regime jurídico a potencialização da concorrência é o elemento central, o que exige o desenvolvimento de mecanismos que facilitem o acesso pelos particulares ao setor. Tal acesso é facilitado pelo uso da autorização. A competência pública exercida pelos particulares por meio de autorização configura-se como serviço de utilidade pública à brasileira. A partir dessa estrutura conceitual é possível melhor compreender a noção de serviço público no âmbito dos Estados-membros e municípios e os modos de ação desses entes federados no domínio econômico. / The Brazilian concept of public service is created from the French notion of public service and the American notion of public utility. These ideas were introduced into Brazilian Law by doctrine following the Constitution of 1891. Part of the results of the debates stirred by the use of the diverging concepts got incorporated to the text of the Constitution of 1934. From then on, every subsequent Constitution addressed the issue. The Constitution of 1988, like the ones that preceded it, does not present a substantive concept of public service. The constitutional structure of the concept of public service is thoroughly complex. The current constitutional text treats public services in different senses, which are managed according to the activities comprehended by it. These senses have been constructed throughout our constitutional history, and for that reason, their comprehension requires an analysis of the preceding Constitutions’ texts. In broad lines, public services appear in the Constitution in three senses, which are: the substantive, the organic and the formal. The substantive sense is measured in broad and strict meanings. It is in the core of the substantive sense, in which public service means activity, that the French-born organic, formal and substantive senses are situated. It is regarding the substantive sense that the greatest difficulties and divergences concerning the theme arise. In the organic sense, public service refers to the public organs and entities. In the formal sense, public service is a legal regime attributable to the positive substantive competencies and the economic nature of the State. It is in regards to the substantive sense that the function of the concept of public service takes place. Alternative to the public services’ legal regime, the Constitution of 1988 also includes a private law legal regime. In this alternative regime, the increase of competition figures as central element, which demands mechanisms to enable private access to the area. Such access is facilitated by use of authorization. The public competency exerted by private initiative through authorization is known as Brazilian public utility service. From that conceptual structure, it is possible to better understand the notion of public service in the scope of member-states and counties, as well as the courses of action adopted by these federate entities on economy.

Cette dissertation traite des trois thématiques suivantes : incertitude, fonctions d’utilité et non-arbitrage. Dans le premier chapitre, nous supposons qu’il n’y a pas d’incertitude sur les croyances et établissons l’existence d’un portefeuille optimal pour un investisseur qui opère dans un marché financier multi-période à temps discret et maximise son espérance terminale d’utilité. Nous considérons des fonctions d’utilité aléatoires non concaves, non continues définies sur l’axe réel positif. La preuve repose sur de la programmation dynamique et des outils de théorie de la mesure.Dans les trois chapitres suivant nous introduisons le concept d’incertitude knightienne et adoptons le modèle de marché financier multi-période à temps discret avec croyances multiples non dominées introduit par B. Bouchard and M. Nutz (Arbitrage and duality in nondominated discrete-time models)Dans le second chapitre, nous étudions la notion de non-arbitrage quasi-sûre introduite par B. Bouchard and M. Nutz (Arbitrage and duality in nondominated discrete-time models) et en proposons deux formulations équivalentes: une version quantitative et une version géométrique. Nous proposons aussi une condition forte de non-arbitrage afin de simplifier des difficultés techniques.Nous utilisons ces résultats dans le troisième chapitre pour résoudre le problème de la maximisation d’espérance d’utilité sous la plus défavorable des croyances pour des fonctions d’utilité concaves, définies sur l’axe positif réel non-bornées. La preuve utilise à nouveau de la programmation dynamique et des techniques de sélection mesurable.Finalement, dans le dernier chapitre, nous développons un modèle de d’évaluation par indifférence d’utilité et démontrons que sous de bonnes conditions, le prix d’indifférence d’un actif contingent converge vers son prix de sur réplication. / This dissertation evolves around the following three general thematic: uncertainty, utility and no-arbitrage.In the first chapter we establish the existence of an optimal portfolio for investor trading in a multi-period and discrete-time financial market without uncertainty and maximising its terminal wealth expected utility. We consider general non-concave and non-smooth random utility function defined on the half real-line. The proof is based on dynamic programming and measure theory tools.In the next three chapters, we introduce the concept of Knightian uncertainty and adopt the multi-prior non dominated and discrete time framework introduced in [25]..In this setting, in the second chapter we study the notion of quasi-sure no-arbitrage introduced in [25] and propose two equivalent definitions: a quantitative and geometric characterisation. We also introduce a stronger no-arbitrage condition that simplifies some of the measurability difficulties.In the third chapter, we build on the results obtained in the previous chapter to study the maximisation of multiple-priors non-dominated worst-case expected utility for investors trading in a multi-period and discrete-time financial for general concave utility functions defined on the half-real line unbounded from above. The proof uses again a dynamic programming framework together with measurable selection.Finally the last chapter formulates a utility indifference pricing model for investor trading in a multi-period and discrete-time financial market. We prove that under suitable condition the multiples-priors utility indifference prices of a contingent claim converge to its multiple-priors superreplication price

Network utility maximization has emerged as a powerful tool in studying flow control, resource allocation and other cross-layer optimization problems. In this work, we study a flow control problem in the optimization framework. The objective is to maximize the sum utility of the users subject to the flow constraints of the network. The utility maximization is solved in a distributed setting; the network operator does not know the user utility functions and the users know neither the rate choices of other users nor the flow constraints of the network. We build upon a popular decomposition technique proposed by Kelly [Eur. Trans. Telecommun., 8(1), 1997] to solve the utility maximization problem in the aforementioned distributed setting. The technique decomposes the utility maximization problem into a user problem, solved by each user and a network problem solved by the network. We propose an iterative algorithm based on this decomposition technique. In each iteration, the users communicate to the network their willingness to pay for the network resources. The network allocates rates in a proportionally fair manner based on the prices communicated by the users. The new feature of the proposed algorithm is that the rates allocated by the network remains feasible at all times. We show that the iterates put out by the algorithm asymptotically tracks a differential inclusion. We also show that the solution to the differential inclusion converges to the system optimal point via Lyapunov theory. We use a popular benchmark algorithm due to Kelly et al. [J. of the Oper. Res. Soc., 49(3), 1998] that involves fast user updates coupled with slow network updates in the form of additive increase and multiplicative decrease of the user flows. The proposed algorithm may be viewed as one with fast user update and fast network update that keeps the iterates feasible at all times. Simulations suggest that our proposed algorithm converges faster than the aforementioned benchmark algorithm. When the flows originate or terminate at a single node, the network problem is the maximization of a so-called d-separable objective function over the bases of a polymatroid. The solution is the lexicographically optimal base of the polymatroid. We map the problem of finding the lexicographically optimal base of a polymatroid to the geometrical problem of finding the concave cover of a set of points on a two-dimensional plane. We also describe an algorithm that finds the concave cover in linear time. Next, we consider the minimization of a more general objective function, i.e., a separable convex function, over the bases of a polymatroid with a special structure. We propose a novel decomposition algorithm and show the proof of correctness and optimality of the algorithm via the theory of polymatroids. Further, motivated by the need to handle piece-wise linear concave utility functions, we extend the decomposition algorithm to handle the case when the separable convex functions are not continuously differentiable or not strictly convex. We then provide a proof of its correctness and optimality.

Cette recherche se situe dans le cadre de la théorie anthropologique du didactique (TAD) et a pour point de départ le constat d’une inégale diffusion des connaissances mathématiques opérationnelles dans les sociétés contemporaines. Au contraire des explications spontanées qui voient l’origine de ce phénomène dans une « propriété » des individus, dont beaucoup seraient rétifs, par nature ou par expérience, au « fait mathématique », cette recherche regarde de telles manifestations comme des symptômes individuels dont il s’agit d’étudier les causes à la lumière de la didactique entendue comme science des conditions et contraintes de tous niveaux déterminant la diffusion (et la non-diffusion) des connaissances. Les résultats obtenus permettent d’envisager une nouvelle définition du contrat gouvernant le rapport des personnes et des institutions à leurs besoins mathématiques. / The framework of this research is the anthropological theory of the didactic (ATD). It takes as its starting point the uneven diffusion of a working knowledge of mathematics in contemporary societies. Unlike most spontaneous causal explanations in terms of “properties” of individuals, many of whom are thought to be averse to mathematics (either by nature or experience), this research construes such manifestations as individual symptoms to be interpreted in the field of didactics, regarded as the science of the conditions and constraints of all levels that determine the diffusion (and nondiffusion) of knowledge. The results arrived at allow us to contemplate the possibility of reconfiguring the relation of persons and institutions to their mathematical needs.