Using the intraday data on the Taiwan Stock Exchange (TWSE), we address the issue of the informativeness of the limit order book in the periodic call market. We find that the pre-call information variables, i.e., the market order and the radius of the order book, have significant impacts on the trade variables, i.e., trading volume, the post-call bid-ask spread, and the trader surplus. Furthermore, we are able to show that the radius, as well as the market order, contains two differential forces in impacting these trade variables.

In today's society, we view new as good, a universal standpoint that has become so commonly accepted as true, that to question it would be absurd. While many new items are an upgrade over their predecessor, it is important to understand that used items still retain a high amount of value and efficacy. Our landscape is filled with the mundane, industrial elements that surround us, yet due to our familiarity with them they are pushed to the background of our consciousness. However their commonplace should not mask their true potential value. By using what is already there before us, we will limit our dependence on new materials, as well as begin to diminish our waste. The surplus of idle materials compounded by skyrocketing construction cost has set the stage for a revolutionary change to architecture. Alternative construction methodologies such as up-cycling will undeniably reconfigure the design spectrum, showcasing an entirely new layer of building materials that exists, while giving us a better understanding of our environment. Up-cycling, is the process of turning waste materials and by-products into new, useful items which will reduce our waste and limit our dependence on virgin materials. These revitalized objects create an undeniable usefulness and practicality with dynamic flexibility, all the while changing our mentality. This inventive language has the capability to dictate the way we view common objects by unveiling a potential transformation of architecture. My aim is to create a center for up-cycling education, a facility that will demonstrate the sustainable practice of re-using materials and found items in an effort to achieve an inventive dialect of sustainability that is affordable. This center will demonstrate how everyday items can be utilized in an unorthodox manner to become part of our built environment. The unique components of the structure will create dynamic spaces that encourage interaction with building materials while giving us a better understanding of our environment. This resourceful method of sustainability will showcase a potential change to architecture by revealing a new vocabulary of building materials, as well as serve as a comment on our throw away culture. This new theory of devised architecture will not only prove to be beneficial economically, but more importantly it will provide a sensible solution in creating an affordable sustainable environment. The stage is set; we must do more with less.

No description available.

leftovers, waste, and surplus generated by increasing production and consumption of material goods. Their problem is not new, and over the last decade the search for a solution has given rise to various theories about and technologies for resource recovery and waste management. In the fashion and clothing industry, designers have explored ways to reuse and remanufacture production and consumption waste and surplus before recycling material components on a fiber level, thereby aiming to realize greater environmental savings. While several examples of design practices building on different forms of reuse and remanufacturing approaches exist, foundational theoretical methods for design remain poorly researched.  This thesis explores and analyzes the aesthetic potential in textile and clothing waste and surplus for new design expressions and functions. Fashion design students performed initial methodological explorations through practicing redesign to find central concepts in design thinking that present opportunities and challenges for remake methods. The exploration shows a challenge to go from thinking fashion design as a method of remembering, preserving and showing, to remake fashion design as a method of forgetting, destroying and searching. In this thesis one method has so far been developed. However, the findings point to several methodological challenges in selecting and reworking materials within the context of the remake. These methods need to be explored and developed further to strengthen remake models and practices, and the central characteristic of traditional fashion design thinking needs to be developed further for a fundamental shift in thinking towards remake and redesign fashion design.

Motivated by the increasing popularity of wildlife viewing and a growing emphasis on management for nontimber outputs, wildlife viewing demand was assessed. Specific objectives included determining factors affecting participation and frequency of use, and furthermore, deriving 2006 nationwide wildlife viewing consumer surplus estimates. With the travel cost method as the theoretical basis, the empirical estimation method employed was a two-step sample selection model that included a probit first step and a negative binomial second step. Consumer surplus per trip estimates ranged from $215.23 to $739.07 while aggregate national estimates ranged from $44.5 billion to $185.1 billion. Results reveal that age, race, and urban residence affect participation and frequency similarly. This research can help policymakers in particular better understand determinants of wildlife viewing participation and frequency. The value of wildlife viewing access can be used to justify funding initiatives aimed at protecting or managing for this use.

In this dissertation, I try to understand processes of dispossession and exclusion within a class-focused Marxian framework grounded in the epistemological position of overdetermination. The Marxian concept of primitive accumulation has become increasingly prominent in contemporary discussions on these issues. The dominant reading of "primitive accumulation" in the Marxian tradition is historicist, and consequently the notion itself remains outside the field of Marxian political economy. The contemporary literature has de-historicized the concept, but at the same time missed Marx's unique class-perspective. Based on a non-historicist reading of Marx, I argue that primitive accumulation--i.e. separation of direct producers from means of production in non-capitalist class processes--is constitutive of capitalism and not a historical process confined to the period of transition from pre-capitalism to capitalism. I understand primitive accumulation as one aspect of a more complex (contradictory) relation between capitalist and non-capitalist class structure which is subject to uneven development and which admit no teleological universalization of any one class structure. Thus, this dissertation claims to present a notion of primitive accumulation theoretically grounded in the Marxian political economy. In particular, the dissertation problematizes the dominance of capital over a heterogeneous social formation and understands primitive accumulation as a process which simultaneously supports and undermines such dominance. At a more concrete level, I apply this new understanding of primitive accumulation to a social formation--consisting of "ancient" and capitalist enterprises--and consider a particular conjuncture where capitalist accumulation is accompanied by emergence and even expansion of a "surplus population" primarily located in the "ancient" economy. Using these theoretical arguments, I offer an account of postcolonial capitalism in India, distinguishing between two different regimes--1) the dirigiste planning regime and 2) the laissez-faire regime. I argue that both regimes had to grapple with the problem of surplus population, as the capitalist expansion under both regimes involved primitive accumulation. I show how small peasant agriculture, traditional non-capitalist industry and informal "ancient" enterprises (both rural and urban) have acted as "sinks" for surplus population throughout the period of postcolonial capitalist development in India.

No description available.

The Government of Senegal is attempting to liberalize the groundnut market. In the past, this market was highly regulated with government-set producer prices, groundnut oil processing mills owned by parastatals, and requirements that all groundnuts be sold to these quasi-governmental organizations. In recent years, these rules are being relaxed, and farmers are allowed to sell groundnuts on the open market. However, farmers continue to sell most of their groundnuts, as before, to the mills. This study attempts to shed light on the effects of this market liberalization. First, an attempt is made to provide estimates of the farmers' short-run output supply and input demand responses to price changes. A quadratic profit function model is estimated using data collected for the current study and a similar dataset collected by Akobundu [1997]. Second, a quadratic programming model is used to examine the effects of eliminating pan-territorial prices. Results indicate that the elimination of the pan-territorial price system will have an overall benefit to Senegalese society. However, as expected, groundnut producers in areas remote from the groundnut oil processing mills would face lower prices. The effects on producers and consumers in the major producing regions, however, were found to be minimal. Finally, the dissertation provides an extensive description of the economic activities of small-scale farm households in Senegal's Groundnut Basin. Differences between males and females and between household heads and other males in the household are also examined. Although females are not as involved in groundnut production, they do not seem to face discrimination in either the official or the open market. The description of the situation facing small-scale farmers provided in this dissertation is not encouraging. The quantity and timing of the rains in the Groundnut Basin add an unwelcome uncertainty to farming. Increases in population are adding pressure to the environment and are placing heavy demands on wood and grazing lands. Only eight percent of the farmers had groundnut seed multiplication ratios less than one, and sixty-seven percent had ratios less than five. The dissertation also indicates that farmers are not producing enough to feed their families. Fewer than twelve percent of the households produce a caloric surplus. Sixty percent produced less than fifty percent of their caloric needs. The study indicates that farmers are not earning enough from agricultural production to take care of normal expenses throughout the year. Thus, when combined with uncertain rains and a worsening environment, the farmers have little margin of safety. Therefore, any government policies affecting groundnut production in particular or agricultural production in general should take into account the situation already facing the farmers. / Ph. D.

This study assesses the research benefits of IPM technologies and management practices aimed at reducing the virus problem in tomatoes in West Africa. Surveys are conducted with producers, extension agents, scientists, and other experts to obtain information and economic surplus analysis is used to project benefits over time. The determinants of adoption are assessed using a probit model. Results show that adoption of the host-free period reduced the amount of insecticide sprays by 71% and the production cost by $200/ha in Mali. The cost-benefit analysis indicated that the use of virus-tolerant seeds generated profits ranging from $1,188 to $2,116/ha in Mali and from $1,789 to $4,806/ha in Senegal. The likely factors influencing adoption of the technologies in both countries are the frequency of extension visits, farmer's field school training, gender, education, seed cost, tomato area, and experience in tomato losses. The benefits in the closed economy market vary from $3.4 million to $14.8 million for the host-free period, $0.5 million to $3 million for the virus-tolerant seeds, and $4.8 million to $21.6 million for the overall IPM program. In the same order, the benefits under the open economy market range from $3.5 million to $15.4 million, $0.5 million to $3million, and $5 million to $24 million. The distribution pattern indicates that producers gain one-third and consumers two-thirds of the benefits. Our results support policies aiming to increase the adoption rate or the expected change in yield. / Master of Science

This study conducts an ex-ante economic impact evaluation of developing low cost technologies for pyramiding useful genes from wild relatives into elite progenitors of cassava in Nigeria, Ghana and Uganda. More specifically, it estimates the change in economic surplus generated by introducing cassava varieties with tolerance to cassava mosaic disease, green mites, whiteflies, and delayed post-harvest deterioration. It compares the economic benefits of marker-assisted selection (MAS) to conventional breeding for these traits. Results indicate that varieties developed with marker-assisted breeding that incorporate all three traits are worth US$2.89 billion in Nigeria, $854 million in Ghana, and $280 million in Uganda over 20 years. If these varieties were to be developed with tolerance to CMD and Green mites alone they would be worth US$1.49 billion in Nigeria, $675 million in Ghana, and $52 million in Uganda if developed through MAS. If developed solely by conventional breeding they would be worth about US$676 million in Nigeria, $304 million in Ghana, and $18 million in Uganda. The difference is mostly due to the faster timing of release for the varieties developed with MAS and the higher probability of success. Several sensitivity analyses were conducted and benefits for MAS range from US$1.7 billion to US$4.3 billion for all three traits depending on assumptions. In all cases, the research investment is highly profitable from a societal standpoint. / Master of Science