A unified framework for linear function approximation of value functions in stochastic control

This paper contributes with a unified formulation that merges previ- ous analysis on the prediction of the performance ( value function ) of certain sequence of actions ( policy ) when an agent operates a Markov decision process with large state-space. When the states are represented by features and the value function is linearly approxi- mated, our analysis reveals a new relationship between two common cost functions used to obtain the optimal approximation. In addition, this analysis allows us to propose an efficient adaptive algorithm that provides an unbiased linear estimate. The performance of the pro- posed algorithm is illustrated by simulation, showing competitive results when compared with the state-of-the-art solutions.

TRAAC: Trust and Risk Aware Access Control

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Coastal Erosion--Causes, Erosion Control Methods, Economic and Environmental Impacts, and Best Management Practices

Coastal erosion is an important and constant issue facing coastal areas all over the world today. The rate of coastal development over the years has increased, in turn requiring that action be taken to protect structures from the threat of erosion. A review of the causes of coastal erosion and the methods implemented to control it was conducted in order to determine the best course of action in response to coastal erosion issues. The potential positive and negative economic and environmental impacts are key concerns in determining whether or not to restore an eroding beach and which erosion control method(s) to implement. Results focus on providing a comparison of these concerns as well as recommendations for addressing coastal erosion issues.

Invasion, Proliferation and Control of Invasive Aquatic Plants in Colorado State Parks

Nonnative aquatic species are invasive worldwide. These species adversely affect natural aquatic ecosystems in a variety of ways and can negatively affect agriculture, recreation and industry. This study addresses identification and control of aquatic plant species of concern in Colorado State Parks. Seventeen species identified as potential threats to the parks and safe, effective chemical control methodologies were determined for each species. A matrix was developed to include the plants, appropriate chemical controls and the type of aquatic habitat where chemical use would be safe and effective. The matrix and recommendations for its use will be provided to the Colorado Division of Parks and Outdoor Recreation to develop a management plan under Section 1204 of the National Invasive Species Act.

A Community Analysis of the Implementation for Household Curbside Recycling Programs: A Diversionary Method to Control Municipal Solid Waste

The Municipality of Anchorage (MOA) is required to better manage, operate and control municipal solid waste (MSW) after the Anchorage Assembly instituted a Zero Waste Policy. Two household curbside recycling programs (CRPs), pay-as-you-throw (PAYT) and single-stream, were compared and evaluated to determine an optimal municipal solid waste diversion method for households within the MOA. The analyses find: (1) a CRP must be designed from comprehensive analysis, models and data correlation that combine demographic and psychographic variables; and (2) CRPs can be easily adjusted towards community-specific goals using technology, such as Geographic Information System (GIS) and Radio Frequency Identification (RFID). Combining resources of policy-makers, businesses, and other viable actors are necessary components to produce a sustainable, economically viable curbside recycling program.

Climate Change Policy & the Natural Gas Transmission Sector

Various emission reduction strategies are proposed to manage climate change in the U.S. This applied capstone evaluates the most likely policy options considering impacts and benefits to the natural gas transmission sector (NGT). It examines a case-study including a comparison of policy options to recommend the most beneficial program to the NGT sector. Two conclusions of major importance are: a federally preempted cap-and-trade program would be the most cost-effective for the NGT sector and the NGT sector should not be the point of regulation of any climate policy. Recommendations, strategies, and costs for implementation of a compliance plan for a federally preempted cap-and-trade program were developed as a tool for NGT companies as part of this applied capstone project.

Surface and Groundwater Environmental Policy Compliance at the Adams County Regional Park and Fairgrounds

The Adams County Regional Park and Fairgrounds must comply with environmental policies related to surface water and groundwater protection. This paper assesses various methods which have proven to be effective in the reduction of nutrients and other contaminants found in surface and groundwater at comparable livestock-based venues. Data was gathered from other facilities in order to identify specific compliance alternatives and evaluate management options. Empirical research, coupled with GIS mapping technology yielded explicit water quality management recommendations for the Adams County Regional Park and Fairgrounds. The outcome of this research and mapping exercise include twelve management recommendations and two site-specific locations for structural BMPs designed to better control water pollution at the Adams County Regional Park and Fairgrounds.

The Environmental Health and Safety of Carbon Nanotubes: Risk, Perception, and Policy

The production and use of carbon nanotubes (CNTs) can negatively impact human health and the environment through occupational, environmental, and product life-cycle exposures. Research is underway to evaluate the known, potential, and perceived hazards associated with CNTs. Recent research and policy analyses regarding CNTs were reviewed extensively. A facility engaged in research, development, and manufacture of CNTs was observed handling CNTs and associated individuals were informally interviewed. The combined investigation characterizes the current state of the art of our understanding and implementation of policy needed to address the impacts of CNTs to human health and the environment. A gap analysis is performed of regulations, policy, and CNT control methods; conclusions and recommendations are made from the results of this analysis.

Rural Development Trends and Land Use Policy in Colorado: Contributors to Habitat Fragmentation?

Fragmentation of wildlife habitat is a primary driver of global species decline. A major contributor to habitat fragmentation in the United States is rural residential development. Rural development in Colorado is occurring at rates far greater than the national average. Additionally, the lack of state-level planning control coupled with a lack of comprehensive, effective planning tools at the local level creates conditions that contribute to habitat fragmentation in many rural counties. Greater oversight and involvement in land use planning is needed by the state level to assist county governments. This study provides five recommendations to strengthen Colorado state land use policy in order to reduce habitat fragmentation.

European antitrust control and standard setting. Bruegel Working Paper 2013/01, February 2012

Standards reduce production costs and increase products’ value to consumers. Standards however entail risks of anti-competitive abuse. After the adoption of a standard, the chosen technology normally lacks credible substitutes. The owner of the patented technology might thus have additional market power relative to locked-in licensees, and might exploit this power to charge higher access rates. In the economic literature this phenomenon is referred to as ‘hold-up’. To reduce the risk of hold-up, standard-setting organisations often require patent holders to disclose their standard-essential patents before the adoption of the standard and to commit to license on fair, reasonable and non-discriminatory (FRAND) terms. The European Commission normally investigates unfair pricing abuse in a standard-setting context if a patent holder who committed to FRAND ex-ante is suspected not to abide to it ex-post. However, this approach risks ignoring a number of potential abuses which are likely harmful for welfare. That can happen if, for example, ex-post a licensee is able to impose excessively low access rates (‘reverse hold-up’) or if a patent holder acquires additional market power thanks to the standard but its essential patents are not encumbered by FRAND commitments, for instance because the patent holder did not directly participate to the standard setting process and was therefore not required by the standard-setting organisations to commit to FRAND ex-ante. A consistent policy by the Commission capable of tackling all sources of harm should be enforced regardless of whether FRAND commitments are given. Antitrust enforcement should hinge on the identification of a distortion in the bargaining process around technology access prices, which is determined by the adoption of the standard and is not attributable to pro-competitive merits of any of the involved players.

Europe's growth problem (and what to do about it). Bruegel Policy Brief 2013/03, April 2013

The issue: The European Union's pre-crisis growth performance was disappointing enough, but the performance has been even more dismal since the onset of the crisis. Weak growth is undermining private and public deleveraging,and is fuelling continued banking fragility. Persistently high unemployment is eroding skills, discouraging labour market participation and undermining the EU’s long-term growth potential. Low overall growth is making it much tougher for the hard-hit economies in southern Europe to recover competitiveness and regain control of their public finances. Stagnation would reduce the attractiveness of Europe for investment. Under these conditions, Europe's social models are bound to prove unsustainable. Policy Challenge: The European Union's weak long-term growth potential and unsatisfactory recovery from the crisis represent a major policy challenge. Over and above the structural reform agenda, which vitally important, bold policy action is needed. The priority is to get bank credit going. Banking problems need to be assessed properly and bank resolution and recapitalisation should be pursued. Second, fostering the reallocation of factors to the most productive firms and the sectors that contribute to aggregate rebalancing is vital. Addressing intra-euro area competitiveness divergence is essential to support growth in southern Europe. Third, the speed of fiscal adjustment needs to be appropriate and EU funds should be front loaded to countries in deep recession, while the European Investment Bank should increase investment.

Macedonia - A country in crisis. CEPS Policy Brief No. 299, 13 September 2013

Macedonia is a country in deep trouble. There is a climate of mistrust between all the political parties; intolerance of minority groups is increasing and fear is also generated by the all-pervasive control of the main governing party. In 2009 the European Commission recommended that a date be set for accession negotiations to start, but since then the country's efforts to join the EU (and NATO) have been blocked. Author Erwan Fouéré sets out ten clear recommendations for both Macedonia and the EU on the way forward.

Reviewing the EU's market abuse rules. ECMI Policy Brief No. 19, 27 February 2012

Updated May 2012 and reposted: In 2011, an EU legislative package on market abuse was proposed, which comprises two sets of documents: 1) a draft Regulation that will largely replace the existing Market Abuse Directive (MAD) and the level 2 measures; and a new Directive dealing with criminal sanctions. Market abuse rules are needed to ensure market integrity and investor confidence, and to allow companies to raise capital and contribute to economic growth, thereby increasing employment. This ECMI Policy Brief argues that rules on market abuse should be technically well designed, proportionate and crystal clear, but also subject to more efficient and harmonised supervision than before. The paper focuses particularly on the draft Regulation. The use of a regulation is welcome, as (in integrated financial markets) abuses should be regulated in a harmonised manner by member states, which has not always been the case, as the 2007 report from the European Securities Markets Expert (ESME) Group extensively demonstrated. At the same time, this paper criticises some of the provisions contained in the draft Regulation, notably the new notion of inside information not to abuse (Art. 6(e)) and the unchanged definition of inside information for listed companies to disclose, and it proposes new definitions. The extension of disclosure obligations to issuers whose shares are traded on demand only on ‘listing’ multilateral trading facilities is also widely criticised. Other comments deal with the proposed rules on managers’ transactions, insiders’ lists and accepted market practices.

European Criminal Law and General Principles of Union Law. Research Papers in Law, 5/2005

From the Introduction. The European Court of Justice, partly followed in this by the European legislator, has regulated Community law and policy through a set of general principles of law. For the Community legal order in the first pillar, general legal principles have developed from functional policy areas such as the internal market, the customs union, the monetary union, the common agricultural policy, the European competition policy, etc., which are of great importance for the quality and legitimacy of Community law. The principles in question are not so much general legal principles of an institutional character, such as the priority of Community law, direct effect or Community loyalty, but rather principles of law which shape the fundamental rights and basic rights of the citizen. I refer to the principle of legality, of nulla poena, the inviolability of the home, the nemo tenetur principle, due process, the rights of the defence, etc. Many of these legal principles have been elevated to primary Community law status by the European Court of Justice, often as a result of preliminary questions. Nevertheless, a considerable number of them have also been elaborated in the context of contentious proceedings before the Court of Justice, such as in the framework of European competition law and European public servants law.

Exploitative Abuses: Which Competition Policy, Which Public Policy? Research Papers in Law, 2/2007

As the final session of the day, my aim in this paper is to briefly outline the nature of exploitative abuses before turning to the question of the relationship between competition law and intellectual property law in the context of what Teubner calls the regulatory trilemma and from that draw a two-fold conclusion. First, the demands on law from the social phenomenon of markets are more acute when those demands raise issues across the different law domains of IP and competition. Second, where IP law and competition meet, the aim should be for both domains to internalise the values of the other. This however can only happen to the extent but only to the extent that there can be what Collins1 calls productive disintegration. Finally, in the specific context of exploitative abuses the overlap between IP law and competition law arises primarily in relation to claims of excessive pricing in licensing arrangements. Such claims could form the basis of a private action2 or can be made in the context of compulsory dealing decisions such as Microsoft.3 The involvement of competition agencies in pricing decisions goes to the heart of concerns about the nature of competition law and the role of competition agencies and highlights the need for the law to indirectly control rather than inappropriately attempt to directly control markets.