The main target of this thesis is to summarize and explain the specifics of power markets and test application of models, which might be used especially in risk management area. Thesis starts with definition of market subjects, typology of traded contracts and description of market development with focus on Czech Republic. Thesis continues with development of theoretical concepts of short term/spot electricity markets and potential link between spot and forward electricity markets. After deriving of those microeconomic fundamental models we continue with stochastic models (Jump Diffusion Mean Reverting process and Extreme Value Theory) in order to depict patterns of spot and forward power contracts price volatility. Last chapter deals with credit risk specifics of power trading and develops model (using concept known as Credit Value Adjustment) to compare economic efficiency of OTC and exchange power trading. Developed and described models are tested on selected power markets, again with focus on Czech power market data set.

This dissertation is a collection of three economics essays on different aspects of carbon emission trading markets. The first essay analyzes the dynamic optimal emission control strategies of two nations. With a potential to become the largest buyer under the Kyoto Protocol, the US is assumed to be a monopsony, whereas with a large number of tradable permits on hand Russia is assumed to be a monopoly. Optimal costs of emission control programs are estimated for both the countries under four different market scenarios: non-cooperative no trade, US monopsony, Russia monopoly, and cooperative trading. The US monopsony scenario is found to be the most Pareto cost efficient. The Pareto efficient outcome, however, would require the US to make side payments to Russia, which will even out the differences in the cost savings from cooperative behavior. The second essay analyzes the price dynamics of the Chicago Climate Exchange (CCX), a voluntary emissions trading market. By examining the volatility in market returns using AR-GARCH and Markov switching models, the study associates the market price fluctuations with two different political regimes of the US government. Further, the study also identifies a high volatility in the returns few months before the market collapse. Three possible regulatory and market-based forces are identified as probable causes of market volatility and its ultimate collapse. Organizers of other voluntary markets in the US and worldwide may closely watch for these regime switching forces in order to overcome emission market crashes. The third essay compares excess skewness and kurtosis in carbon prices between CCX and EU ETS (European Union Emission Trading Scheme) Phase I and II markets, by examining the tail behavior when market expectations exceed the threshold level. Dynamic extreme value theory is used to find out the mean price exceedence of the threshold levels and estimate the risk loss. The calculated risk measures suggest that CCX and EU ETS Phase I are extremely immature markets for a risk investor, whereas EU ETS Phase II is a more stable market that could develop as a mature carbon market in future years.

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Problembakgrund: Content Marketing är ett marknadsföringsverktyg som kan användas i syfte att skapa värde och lojalitet. Digitaliseringen har utformat tekniska konsumenter som är skeptiska till traditionella reklambudskap. Skepticismen beror på mängden information som går att hitta på internet vilket gör att det blir en utmaning för marknadsförare att nå ut med värde till sin målgrupp. Digitaliseringen har dock medfört att konsumenterna blir enklare att nå på grund av den stora användningen av sociala medier vilket kan ge varumärken fördelar gentemot sina konkurrenter. Marknadsförare kan använda Content Marketing för att skapa indirekt försäljning vilket leder till lojalitet och lönsamhet för varumärket. Syfte: Syftet med denna studie är att beskriva hur konsumenter upplever Content Marketing inom kosmetika, kopplat till upplevda värden och hur det kan påverka den upplevda lojaliteten. Teoretisk referensram: Den teoretiska referensramen behandlar Content Marketing, Värde och Lojalitet. Metod: Studien grundar sig i en kvalitativ metod med semistrukturerade intervjuer. Respondenter är kvinnor som är användare på Instagram och är utvalda utifrån dess användande, ålder och kön på Instagram. Resultat: Desto fler värdeaspekter som marknadsförare trycker på inom Content Marketing, desto större chans till lojalitet. Content Marketing trycker på de olika aspekterna av värde genom inspiration, interaktion, information och identifiering. Slutsats: Studiens slutsatser visar att Content Marketing kan skapa värde för konsumenterna vilket i sin tur leder till lojalitet och positiv varumärkesuppfattning. / Content Marketing on social media is a marketing tool which can be used to increase value and create brand loyalty. The emergence of digitalization has led to technical consumers who are skeptical towards traditional advertisement. Considering the skepticism, marketers get a challenge to reach out with brand messages which argues for new marketing tools. Due to the digitalization marketers can easily reach the target group through Social Media which can give them advantage towards the competing brands. Marketers can use Content Marketing to create indirect sales through value creation which leads to brand loyalty and profitability for the organization. The purpose of the study is to describe how consumers experience Content Marketing in the cosmetics industry, towards perceived value and perceived brand loyalty. A qualitative method is used to fulfill the purpose of the study, through semi-structured single interviews. The respondents were selected through suitability considering Instagram usage, cosmetics usage, age and gender. The result of the study indicates that Content Marketing is beneficial by using the different perceived value functions to create loyalty. By using Content Marketing, marketers can reach consumers perceived value by inspiration, interaction, information and identification. The conclusions of the study indicate that Content Marketing creates value to consumers which will lead to brand loyalty and positive brand perception.

The statistical modeling of extreme natural hazards is becoming increasingly important due to climate change, whose effects have been increasingly visible throughout the last decades. It is thus crucial to understand the dependence structure of rare, high-impact events over space and time for realistic risk assessment. For spatial extremes, max-stable processes have played a central role in modeling block maxima. However, the spatial tail dependence strength is persistent across quantile levels in those models, which is often not realistic in practice. This lack of flexibility implies that max-stable processes cannot capture weakening dependence at increasingly extreme levels, resulting in a drastic overestimation of joint tail risk. To address this, we develop new dependence models in this thesis from the class of max-infinitely divisible (max-id) processes, which contain max-stable processes as a subclass and are flexible enough to capture different types of dependence structures. Furthermore, exact simulation algorithms for general max-id processes are typically not straightforward due to their complex formulations. Both simulation and inference can be computationally prohibitive in high dimensions. Fast and exact simulation algorithms to simulate max-id processes are provided, together with methods to implement our models in high dimensions based on the Vecchia approximation method. These proposed methodologies are illustrated through various environmental datasets, including air temperature data in South-Eastern Europe in an attempt to assess the effect of climate change on heatwave hazards, and sea surface temperature data for the entire Red Sea. In another application focused on assessing how the spatial extent of extreme precipitation has changed over time, we develop new time-varying $r$-Pareto processes, which are the counterparts of max-stable processes for high threshold exceedances.

The aim of this essay has been to gain knowledge about how authentic experiences affect students' motivation for their learning of Spanish and to compare how their motivation is influenced by different kinds of authentic experiences. According to Bryman (2006) the most common methods when doing investigations about motivation are questionnaires combined with structured interviews, within a mixed method, with both quantitative and qualitative instruments. The research has therefore been carried out at a Swedish high school, applying questionnaires at 122 students and structured interviews with 8 students. The results were analyzed with the motivational theories; Eccles and Wigfield's expectancy-value theory och Deci och Ryan's self-determination theory. The results show a tendency of a positive attitude towards authentic experiences during lessons. These seem to be used by the teachers, especially in the form of authentic music and film, and students also consider those activities to positively influence motivation and most of them believe that different authentic experiences could increase motivation, increase the posibility to integrate to internal motivation towards Spanish as a subject, but most consider that real and virtual meetings with Spanishspeaking probably will not do so, since the ability to integrate them rather seem that it might inhibit the students' psychosocial needs.

This thesis gives an example of assessing the risk of a financial portfolio with international assets, where the assets may be of different classes, by the use of Monte Carlo simulation and Extreme Value Theory. The simulation uses univariate modelling, models of the assets’ returns as stochastic processes, as well as vine copulas to create dependency between the variables. For the asset returns a modified version of a discretized Merton jump diffusion model was used. The risk assessment used Extreme Value Theory to calculate Value at Risk and Expected Shortfall of the simulated portfolio. However, the resulting return distribution, and the risk assessment thereof, was not entirely satisfactory due to unreasonably large values ascertained. / Denna uppsats ger ett exempel på hur riskbedömning av finanisella portföljer med internationella tillgångar av olika tillgångsslag genom Monte Carlo simulering och extremvärdesteori. Simuleringen använder univariat modelling, modeller för tillgångarnas avkastningar som stokastiska processer, såväl som vine-copulas för att skapa ett beroende mellan tillgångarna. Tillgångarnas avkastningar modellerades med en modifierad version av en diskretiserad Merton-jump-diffusion model. Riskbedömningen använde extremvärdesteori för att beräkna Value-at-Risk och Expected-Shortfall. Dock blev den resulterande avkastningsfördelningen och riskbedömningen därav inte helt tillfredsällande på grund av att orimligt stora värden erhölls.

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The purpose of this qualitative study was to investigate the processes and influences that underlie the choice of retired elite athletes to further their education and assume the adult learner role. In the current study, focus was applied specifically to professional ice hockey players who were in a period of retirement from active play. Elite athletes often retire at a time when most other professions are just beginning or reaching a level of stability. Research suggests that many retired elite athletes experience a difficult transition to an early retirement from athletics that is fraught with depression and unemployment. A select number of these elite athletes choose to further their educations after their careers have expired. The literature suggests that some of these retired elite athletes find educational programming a valuable coping strategy in the often traumatic post-athletic career adjustment. Unfortunately, this choice is made by only few athletes. It would be desirable to encourage more retired athletes to consider and engage in educational activities; however, currently, there is only very little knowledge on the processes underlying athletes' choice to participate, or not to participate, in education in their retirement years. Using a theoretical framework that includes adult learning theory and adult development theory, in conjunction with expectancy-value theory of motivation, the impact of individual characteristics and environmental opportunities on post-athletic career choices made by professional athletes may be better understood. The primary instrument for data collection was a personal interview with ten retired professional hockey players, conducted over a consecutive six-month period resulting in significant data. Utilizing the constant-comparative method for data analysis, common themes were identified as indicators of educational engagement: Informal Mentorship, Head Injury Related Retirement, and Pre-Transition Planning. In addition to these themes, the findings reflected an alternative adult developmental model possibly unique to professional hockey players. The findings of this study are valuable to the larger conversation regarding adult learners, adult development, and elite athlete career transition. / Educational Administration

The objective of this thesis is to investigate the flow conditions that lead to coarse grain entrainment at near incipient motion conditions. Herein, a new conceptual approach is proposed, which in addition to the magnitude of hydrodynamic force or flow power, takes into account the duration of the flow event. Two criteria for inception of grain entrainment, namely the critical impulse and critical energy concepts, are proposed and compared. These frameworks adopt a force or energy perspective, considering the momentum or energy transfer from each flow event to the particle respectively, to describe the phenomenon. A series of conducted mobile particle experiments, are analyzed to examine the validity of the proposed approaches. First a set of bench-top experiments incorporates an electromagnet which applies pulses of known magnitude and duration to a steel spherical particle in a controlled fashion, so as to identify the critical level for entrainment. The utility of the above criteria is also demonstrated for the case of entrainment by the action of turbulent flow, via analysis of a series of flume experiments, where both the history of hydrodynamic forces exerted on the particle as well as its response are recorded simultaneously. Statistical modeling of the distribution of impulses, as well as conditional excess impulses, is performed using distributions from Extreme Value Theory to effectively model the episodic nature of the occurrence of these events. For the examined uniform and low mobility flow conditions, a power law relationship is proposed for describing the magnitude and frequency of occurrence of the impulse events. The Weibull and exponential distributions provide a good fit for the time between particle entrainments. In addition to these statistical tools, a number of Adaptive Neuro-Fuzzy Inference Systems employing different input representations are used to learn the nonlinear dynamics of the system and perform statistical prediction. The performance of these models is assessed in terms of their broad validity, efficiency and forecast accuracy. Even though the impulse and energy criteria are deeply interrelated, the latter is shown to be advantageous with regard to its performance, applicability and extension ability. The effect of single or multiple highly energetic events carried by certain coherent flow structures (mainly strong sweep events) with regard to the particle response is also investigated. / Ph. D.