The diversity of US institutions of higher education is manifested in many ways. This study looks at that diversity from the economic perspective by studying the subsidy structure through the distribution of institutional price-cost ratio (PCR), defined as the sum of net tuition price divided by total supplier cost and equals to one minus subsidy-cost ratio (SCR). IPEDS Finance, Enrollment, and Institutional Characteristics survey data for academic year 2006-2007 are used.Significant between-sector differences are found in terms of both central locations and ranges of PCR. Public two-year institutions have the lowest average PCR (0.12) and smallest within-group variation while for-profit four-year institutions have the highest average PCR (0.93). The within-group variations are quite large for both private nonprofit and for-profit sectors. Nine types of subsidy structure are constructed and used to categorize institutions, which reveal considerable overlapping between public and private nonprofit sectors and between private nonprofit and for-profit sectors. Private nonprofit sector is consistently shown as the "hybrid" sector with more similarities to the public sector.This study highlights price-cost ratio as an important metric for economics of higher education because it integrates targeted price adjustments (list price - net price) and general subsidy (supplier cost - list price), allows for negative subsidy, and accounts for cost variations. It succinctly provides a holistic view of the subsidy-profit spectrum and serves the purpose to rectify the currently skewed perspective that predominantly focuses on "student aid" (redefined as "targeted price adjustments") and for the most part excludes the for-profit sector. A byproduct of this study is a detailed account of how to adjust new GASB/FASB-based IPEDS Finance data to derive meaningful price and cost measures to support cross-sector comparison.

Low-Cost Housing Projects is an essential part in the line of developing sustainable solutions for the provision of shelter for ordinary people in the third world. In poor countries severe problems like population growth, uncontrolled urbanisation processes, deforestation and erosion are present as a result of misuse of all different kinds of resources; this is the fact also in Ethiopia. This degree project is a sub-project integrated in a larger research project at Halmstad University concerning Sustainable Low Cost Housing for the Kambaata Region, Ethiopia. The purpose of this sub-project is to plan and design two dwellings as when erected will serve as a demonstration project in Durame the main urban area of the Kambaata region. The houses will be constructed from the two suitable low cost building materials; Adobe blocks and CSSB (Cement Stabilized Soil Blocks).

A growing number of studies suggest that accounting information risk, primarily idiosyncratic in nature, can be diversified away in the capital market. In this dissertation, I show that accounting information risk, proxied by accruals quality, is priced even if it is entirely idiosyncratic. In particular, building on a model from the ambiguity literature, I demonstrate that (1) in an under-diversified market, idiosyncratic information risk is priced even if it is diversifiable, and (2) in a well-diversified market, idiosyncratic information risk is priced when information is subject to managers' discretion and thus ambiguous. The empirical results corroborate the predictions from the model. Specifically, although an association is observed between (unambiguous if risky) innate accruals quality and cost of capital, the association can be largely mitigated through diversification. However, diversification has little impact on the association between (ambiguous) discretionary accruals quality and cost of capital. Taken together, these findings strengthen our understanding of the fundamental role of accounting information as a basis for capital allocation.

A growing number of studies suggest that accounting information risk, primarily idiosyncratic in nature, can be diversified away in the capital market. In this dissertation, I show that accounting information risk, proxied by accruals quality, is priced even if it is entirely idiosyncratic. In particular, building on a model from the ambiguity literature, I demonstrate that (1) in an under-diversified market, idiosyncratic information risk is priced even if it is diversifiable, and (2) in a well-diversified market, idiosyncratic information risk is priced when information is subject to managers' discretion and thus ambiguous. The empirical results corroborate the predictions from the model. Specifically, although an association is observed between (unambiguous if risky) innate accruals quality and cost of capital, the association can be largely mitigated through diversification. However, diversification has little impact on the association between (ambiguous) discretionary accruals quality and cost of capital. Taken together, these findings strengthen our understanding of the fundamental role of accounting information as a basis for capital allocation.

The dynamics of airline deregulation have resulted in significant changes in airline competition and network structure. This dissertation examines airline competition and network structures in the presence of low-cost entry in a deregulated environment. / The first chapter investigates the effect of low-cost entry on the equilibrium network choice of a monopolistic air carrier. This essay differs from previous analyses in that it incorporates asymmetric city sizes, and distances as a determinant of costs into the model. Numerical exercises illustrate that the threat of entry may result in an entry accommodating, an entry deterring or even an interlining equilibrium, depending on demand and cost conditions and on the level of fixed costs of connecting city pairs. In particular, when the demand in city-pair markets are identical and cities are equal distance apart, the monopolist restructures its network in an attempt to minimize the competitive effect of entry. If demands vary across city pairs and distance is a factor of cost, then the restructuring of the network may be an entry deterring strategy. The incorporation of distance not only influences the number of direct connections between city pairs but may also affect how city pairs are connected within the network. / In Essay Two the model is extended to a duopolistic airline market in which network structures are endogenously determined by the competition between two incumbent airlines; numerical exercises are then used to demonstrate how the threat of entry by a low-cost airline affects the network choices of these incumbent carriers. The main result of the essay is that, in many situations, incumbent carriers restructure their networks in order to compete with potential entrants. The results indicate that incumbents' response to the threat of entry depends on the potential entrant's cost advantage and on the fixed costs of connecting city pairs. In particular, if the fixed costs of connecting city pairs are low and the cost advantage of the entrant is significant then entry may not affect the network structure of incumbent carriers. However, at higher fixed costs at least one incumbent will adjust its network in an attempt to soften the competitive effect of entry. Furthermore, the numerical exercises show that the threat of entry not only affects the equilibrium network structure but may also result in one incumbent leaving the industry and the potential entrant actually entering. / Essay Three studies network competition and welfare implications in partially and fully liberalized transatlantic markets using the model developed in Essay Two. This essay illustrates some conditions under which the price and welfare effects of an open-skies agreement depend on the equilibrium network choice of the competing airlines. In particular, network choices of airlines may result in higher prices on some transatlantic routes and if pre-liberalized domestic markets are competitive price reductions on domestic routes could be negligible. Another finding is that the opening of transatlantic markets mainly redistribute airlines' market shares and as a result the expected increase in passenger traffic may not be realized.

The 7th German-Japanese Bridge Symposium, July 30-August 1, 2007 Osaka, JAPAN (GJBS07), full paper + extended abstract (p.142-143)

This thesis examines the impact of farm level cost efficiency on quota trading in a supply regulated industry. Comparative statics illustrate the role of cost efficiency in quota transfers. For estimation purposes, the dependent variable; net quota purchases is specified both quantitatively and qualitatively and modelled by a linear regression model and multinomial logit model, respectively. Empirical results indicate that variation in cost efficiency does not have a significant effect on the sample producers’ decision to purchase quota. Meanwhile, quota purchasers are younger producers, with large herds, underutilized barn space, and had purchase quota in the previous year. / OMAFRA funding code: 200222

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