The Kyoto related mechanism – clean development mechanism (CDM) – can be used to generate certified emission reductions (CERs) for climate mitigating projects indeveloping countries. These credits provide an opportunity for additional project financing. This thesis has investigated the feasibility of using the CDM for off-grid solar home systems in order to electrify health centers in Uganda. The investigated scope includes two scenarios; one related to a particular project, ICT4MPOWER, and another one related to a national scenario of health center electrification. Two dimensions of feasibility have been targeted; legal prerequisites – various regulations that govern CDM projects – and value creating potential. The latter dimension has primarily focused on whether sufficient CDM-specific profit can be generated, but also looked at broader perspectives of value creation. Calculated break-even scenarios show that the expected scope of the ICT4MPOWER project is far too small to benefit from CDM. A national scenario improves the chances of generating a sufficient profit but would most likely still be too small. A project with broader national coverage would likely need to be arranged as a CDM program of activites (PoA). Such an arrangement has organizational benefits but does further worsen the financial outlook. Apart from the unfortunate value creating prospects, there are also obstacles related to legal prerequisites. To establish a baseline – the business as usual scenario which reflect the emission reduction potential of a project – may be difficult and somewhat ad-hoc. To demonstrate additionality – that the project would not have been carried out anyway – is another potential obstacle which applies to the PoA scenario. All in all, there are clear doubts that CDM would be a feasible solution for the investigated scenarios.

We prove a version of the Fundamental Theorem of Asset Pricing, which applies to Kabanov's approach to foreign exchange markets under transaction costs. The financial market is modelled by a d x d matrix-valued stochastic process Sigma_t_t=0^T specifying the mutual bid and ask prices between d assets. We introduce the notion of ``robust no arbitrage", which is a version of the no arbitrage concept, robust with respect to small changes of the bid ask spreads of Sigma_t_t=0^T. Dually, we interpret a concept used by Kabanov and his co-authors as "strictly consistent price systems". We show that this concept extends the notion of equivalent martingale measures, playing a well-known role in the frictionless case, to the present setting of bid-ask processes Sigma_t_t=0^T. The main theorem states that the bid-ask process Sigma_t_t=0^T satisfies the robust no arbitrage condition if it admits a strictly consistent pricing system. This result extends the theorems of Harrison-Pliska and Dalang-Morton-Willinger to the present setting, and also generalizes previous results obtained by Kabanov, Rasonyi and Stricker. An example of a 5-times-5-dimensional process Sigma_t_t=0^2 shows that, in this theorem, the robust no arbitrage condition cannot be replaced by the so-called strict no arbitrage condition, thus answering negatively a question raised by Kabanov, Rasonyi and Stricker. (author's abstract) / Series: Working Papers SFB "Adaptive Information Systems and Modelling in Economics and Management Science"

The organic wheat supply chain in Canada operates in a relatively new sector for which there is very little public information to aid in price discovery. Organic wheat producers must use available information in order to decide when to sell their wheat and whom to sell to. The relatively low degree of market information, especially for producers, suggests a problem of information asymmetry, which may have ramifications for efficiency and the distribution of rents in the organic wheat supply chain. The literature on Transaction Cost Economics, Agency Theory and the Economics of Information is used in the thesis to theorize differences between methods of selling organic wheat that vary in terms of vertical coordination. The analysis involves a comparison of selling to large and small grain companies, selling through Producer-Owned Firms (POFs) and selling directly to processors. The theory predicts that producers gain from using a POF because of savings in transaction costs and higher prices. These theorized differences in transaction costs and price are due to increased sharing of information between the producer and the marketing agent, enhanced producer control over the marketer, and incentive for the marketer to provide producers with a high price. These benefits can also be realized by selling directly to a processor, but only if the producer can effectively and efficiently perform his or her own marketing functions. Average cost, price and profit margins are used as a metric for comparing each of the four governance structures. A survey of organic wheat producers in Saskatchewan was undertaken in order to collect data on organic Hard Red Spring Wheat (HRSW) transactions. The results indicate that governance structure has a statistically significant effect on organic HRSW prices and on producer transaction costs. The analysis concludes that the producer receives the greatest profit margin from selling through the vertically coordinated POF, while a marketer receives the greatest profit margin if it operates as a large grain company and purchases HRSW on the spot market. The results also suggest that organic producers that eliminate the middleman and sell directly to processors cannot market as efficiently and effectively compared with producers that use a POF. The results of this thesis emphasize that increased coordination between producer and marketer through a POF can be advantageous for the producer, but not necessarily for the marketer, due to the difference in the distribution of rents.

Abstract It is well known that geographical distances between nations cause differences in cul-tural resemblances as well as affinity. Defined, affinity is inheriting similarities between nations in familiarity, language and mutual understanding. It cause variations in the uni-lateral trade volume flowing towards the destination countries and can be estimated by a traditional gravity model (GM). So far Swedish affinity towards Czech Republic (CZ) has remained unexplored. Hence, this paper investigates Swedish firm´s export perfor-mance and affinity towards CZ, both through the aggregate export and the extensive margin (average number of exporters). The investigation aims to seek clarification of what particular factors influence unilateral export towards CZ as well as stronger affini-ty in contrast to similar markets. To answer those questions, a one sided GM is re-gressed on two gravity equations, covering panel data for 177 destination countries from year 1997 to 2006. Results are in line with the expected behavior of the GM and show evidently; distance as well as land lock features have negative effects on unilateral ex-ports to CZ. Additionally, evidence of positive influence on unilateral export is found for GDP and familiarity to the nation. Both regressions for the gravity equations are showing high goodness of fit for the panel data. Findings of positive residuals in both the equations conclude that Swedish export have stronger affinity to CZ and solider country characteristics than its resembling countries Slovenia and Slovakia. However, positive residuals also indicate larger export flows to CZ than motivated by the tradi-tional GM coefficients. Various explanations are suggested as origins for those, such as differences in purchasing power and regions, were Prague was found to be the most suitable option for export and other regions rather for outsourcing possibilities.

This study focuses on the determinants of agglomerations, natural advantages, spillovers, and transaction costs respectively, and intends to form a location choice model with those agglomerative factors. Besides, we examine the geographic concentration scope overall and by region with the data set of manufacturing industries in Taiwan in 2003. We also explore some interesting empirical results. First, the overall geographic concentration level is slightly decreasing through 1996 to 2003. Second, the plants in the South and Middle regions of Taiwan are more concentrated than those in the North region. And each region has its own specific characteristic that draws different types of industries to locate. Third, with OLS regression we find that outsourcing dependence variable applied to proximate transaction costs effect is the most significant of all and represents that transaction costs have large influence to agglomeration scope. Finally this model can be improved from some aspects of involving distance into consideration and extending to entrepreneur across countries.

<p>Bakgrund: Forskningen kring projekt har under senare år ökat i omfattning. En anledning är att projektorganiseringen utgör ett sätt att samla ett antal specialister för att få dem att samverka mot ett gemensamt mål. Utöver de interna relationer som uppstår i projekt förekommer det även involvering av interorganisatoriska partners i samarbetet vilket är speciellt vanligt i byggprojekt som karaktäriseras av en hög grad av interorganisatorisk specialisering. Problemformuleringar: Den utpräglade specialiseringen inom byggprojekt fordrar som all annan typ av specialisering, samordning och koordinering av resurser med den skillnaden att det här handlar om samordning över de organisatoriska gränserna. Det som denna studie behandlar är därför de relationer byggföretag har till sina underentreprenörer i samband medbyggprojekt. Fokus ligger på hur företag kan samverka vertikalt i förädlingskedjan för att på detta sätt uppnå konkurrensfördelar. </p><p>Syfte: Syftet med denna magisteruppsats är att utforska styrning och kontraktering av interorganisatoriska relationer för projektbaserad byggverksamhet. Utöver detta är syftet att specificera en optimala relationen mellan byggherre och underentreprenör för de fall som studien omfattar. </p><p>Avgränsningar: Studien har avgränsats till att endast innefatta relationen mellan byggherre och underentreprenör. </p><p>Genomförande: Studien har genomförts med grund i kontraktsansatsen genom intervjuer på två byggföretag med olika strategi, storlek och geografisk placering. </p><p>Resultat: Resultatet visar att en optimal relation mellan byggherre och underentreprenör är avhängigt av i vilken grad samverkan kan ledan till utveckling hos de båda parterna. Alltför omfattande outsourcing av tjänster kan vara negativt precis som alltför täta relationer. Därför är situationen helt avgörande. Ger även stöd åt- samt utvecklar Alvesson&Lindkvists teori om ekonomisk kooperativa klaner.</p> / <p>Background: Business research focusing on different aspects of project work has recently increased. One reason is that project teams can be used as an effec- tive means of getting specialists from different parts of a business to work to- wards a common goal. In addition to the internal project relations that charac- terize project work, some businesses have also shown evidence of involving ex- ternal parties in projects. This is particularly common for construction projects where a large number of firms enter a project in order to achieve a high degree of interorganizational specialisation. </p><p>Purpose: The high extent of specialization within the construction industry in- creases the need for coordination of resources among participating firms. This thesis relates to this coordination with special regard to the relation between contractor and sub-contractor and the involvement of subcontractorsin the verti-cal dimension of the supply chain. Hence, the purpose of this study is to explore the procurement phases related to the involvement of subcontractors in con-struction projects. Further, the study aims at specifying the optimal relations between main- and sub contractor for the construction firms researched. D</p><p>elimitation: This thesis is solely focusing on the relations between main con- tractor and sub-contractor and is not dealing with other parties involved in con-struction projects. </p><p>Realization: The research material for this thesis has been obtained through in- terviews with employees of two Swedish construction firms that differ in strat- egy, size and geographical location. </p><p>Conclusion: The concluding remarks of the study indicate that the optimal rela- tion between main- and sub contractor is highly dependent on in what ways the relations may lead to long-term development for the parties. A high extent of outsourcing from the main contractor as well as too extensive partnering rela- tions may lead to substantial disadvantages in development for both firms. Therefore the environment in which the main contractor is operating is of great importance to the decision on how to handle subcontractor relations. The study also gives insights into the clan literature and supports and extends the theory of economic cooperative clans, developed by Mats Alvesson&Lars Lindkvist.</p>

Thesis (Ph. D.)--University of California, San Diego, 2003. / Vita. Includes bibliographical references.

ABSTRACT NOT AVAILABLE

Bakgrund: Olika forskare har under åren identifierat problem relaterade till inflation, samt även bidragit med förslag på lösningar på dessa. Begreppet Money Illusion är ett välkänt begrepp inom området som tycks vara en del i förklaringen till allmänhetens motvilja att hantera inflationsrelaterade problem. Det är bestämt i Sverige av Riksbanken att inflationen skall vara låg men positiv och inflationsmålet är satt till två procent. Indexerade beräkningsenheter presenteras av Robert Shiller som lösning på kunskaps- och beteendeproblem förknippade med inflation. Han definierar en indexerad beräkningsenhet som ska fungera parallellt med den lokala valutan. Syfte: Syftet är att diskutera förutsättningar för en implementering av nya indexerade beräkningsenheter, som fungerar parallellt med valutan, i Sverige samt att kritiskt granska Robert Shillers teorier om indexerade beräkningsenheter. Genomförande: Uppsatsen är av kvalitativ karaktär och bygger på semistrukturerade intervjuer med personer inom bank- och försäkringsväsendet samt en universitetslektor i nationalekonomi vid Linköpings Universitet. Intervjuerna har utgått från samma intervjumall. Insamlat intervjumaterial har tillsammans med teorier om inflation, indexering och transaktionskostnader legat till grund för analysen. Slutsats: Slutsatsen i uppsatsen är att den låga inflation som råder i Sverige inte ses som ett tillräckligt stort problem för att motivera en mer vida indexering hos privatpersoner. De kostnader som förknippas med indexering, i form av transaktionskostnader, har även underskattats av Robert Shiller vilket gör att hans förespråkande för indexering i låginflationsländer i själva verket högst troligen är en paradox. / Background: Several scientists have, over the years, identified problems related to inflation and contributed with suggestions to solutions. The term Money Illusion is a well-known phenomenon that explains difficulties of separating nominal value from real value. The central bank of Sweden has decided that inflation should be low but positive and the inflation target is set to two percent. Robert Shiller presents Indexed Units of Account as a solution to problems related to inflation depending on knowledge and behavior. He defines an Indexed Unit of Account that is meant to operate in parallel to the local currency. Aim: The aim is to discuss the prerequisites for an implementation of new indexed units of account, which works in tandem with the currency, in Sweden as well as critically examine the theories of indexed units of account made by Robert Shiller. Completion: The thesis is qualitative in nature and is based on semi-structured interviews with people in banking, insurance and a senior lecturer in economics at the University of Linköping. The interviews have assumed the same interview template. Collected interview data, together with theories of inflation, indexing and transaction costs has formed the basis for the analysis. Conclusion: The conclusion in the paper is that the low inflation prevailing in Sweden is not seen as a big enough problem to warrant a more widespread use of indexation by individuals. Robert Shiller has also underestimated the costs associated with indexing, in the form of transaction costs, which most likely means that his advocacy of indexation is a paradox.

published_or_final_version / Real Estate and Construction / Master / Master of Philosophy