Pricing and competition in the Swedish retail market for electricity

Sweden, together with Norway, Finland and Denmark, have created a multi-national electricity market called NordPool. In this market, producers and retailers of electricity can buy and sell electricity, and the retailers then offers this electricity to end consumers such as households and industries. Previous studies have shown that pricing at the NordPool market is functioning quite well, but no other study has to my knowledge studied if pricing in the retail market to consumers in Sweden is well functioning. If the market is well functioning, with competition and low transaction costs when changing electricity retailer, we would expect that a homogeneous good such as electricity would be sold at the approximately same price, and that price changes would be highly correlated, in this market. Thus, the aim of this study is to test whether the price of Vattenfall, the largest energy firm in the Swedish market, is highly correlated to the price of other firms in the Swedish retail market for electricity. Descriptive statistics indicate that the price offered by Vattenfall is quite similar to the price of other firms in the market. In addition, regression analysis show that the correlation between the price of Vattenfall and other firms is as high as 0.98.

The importance of body-mass exponent optimization for evaluation of performance capability in cross-country skiing

Introduction Performance in cross-country skiing is influenced by the skier’s ability to continuously produce propelling forces and force magnitude in relation to the net external forces. A surrogate indicator of the “power supply” in cross-country skiing would be a physiological variable that reflects an important performance-related capability, whereas the body mass itself is an indicator of the “power demand” experienced by the skier. To adequately evaluate an elite skier’s performance capability, it is essential to establish the optimal ratio between the physiological variable and body mass. The overall aim of this doctoral thesis was to investigate the importance of body-mass exponent optimization for the evaluation of performance capability in cross-country skiing. Methods In total, 83 elite cross-country skiers (56 men and 27 women) volunteered to participate in the four studies. The physiological variables of maximal oxygen uptake (V̇O2max) and oxygen uptake corresponding to a blood-lactate concentration of 4 mmol∙l-1 (V̇O2obla) were determined while treadmill roller skiing using the diagonal-stride technique; mean oxygen uptake (V̇O2dp) and upper-body power output (Ẇ) were determined during double-poling tests using a ski-ergometer. Competitive performance data for elite male skiers were collected from two 15-km classical-technique skiing competitions and a 1.25-km sprint prologue; additionally, a 2-km double-poling roller-skiing time trial using the double-poling technique was used as an indicator of upper-body performance capability among elite male and female junior skiers. Power-function modelling was used to explain the race and time-trial speeds based on the physiological variables and body mass. Results The optimal V̇O2max-to-mass ratios to explain 15-km race speed were V̇O2max divided by body mass raised to the 0.48 and 0.53 power, and these models explained 68% and 69% of the variance in mean skiing speed, respectively; moreover, the 95% confidence intervals (CI) for the body-mass exponents did not include either 0 or 1. For the modelling of race speed in the sprint prologue, body mass failed to contribute to the models based on V̇O2max, V̇O2obla, and V̇O2dp. The upper-body power output-to-body mass ratio that optimally explained time-trial speed was Ẇ ∙ m-0.57 and the model explained 63% of the variance in speed. Conclusions The results in this thesis suggest that V̇O2max divided by the square root of body mass should be used as an indicator of performance in 15-km classical-technique races among elite male skiers rather than the absolute or simple ratio-standard scaled expression. To optimally explain an elite male skier’s performance capability in sprint prologues, power-function models based on oxygen-uptake variables expressed absolutely are recommended. Moreover, to evaluate elite junior skiers’ performance capabilities in 2-km double-poling roller-skiing time trials, it is recommended that Ẇ divided by the square root of body mass should be used rather than absolute or simple ratio-standard scaled expression of power output.

Optimal V. O2max-to-mass ratio for predicting 15 km performance among elite male cross-country skiers

The aim of this study was 1) to validate the 0.5 body-mass exponent for maximal oxygen uptake (V. O2max) as the optimal predictor of performance in a 15 km classical-technique skiing competition among elite male cross-country skiers and 2) to evaluate the influence of distance covered on the body-mass exponent for V. O2max among elite male skiers. Twenty-four elite male skiers (age: 21.4±3.3 years [mean ± standard deviation]) completed an incremental treadmill roller-skiing test to determine their V. O2max. Performance data were collected from a 15 km classicaltechnique cross-country skiing competition performed on a 5 km course. Power-function modeling (ie, an allometric scaling approach) was used to establish the optimal body-mass exponent for V . O2max to predict the skiing performance. The optimal power-function models were found to be race speed = 8.83⋅(V . O2max m-0.53) 0.66 and lap speed = 5.89⋅(V . O2max m-(0.49+0.018lap)) 0.43e0.010age, which explained 69% and 81% of the variance in skiing speed, respectively. All the variables contributed to the models. Based on the validation results, it may be recommended that V. O2max divided by the square root of body mass (mL⋅min−1 ⋅kg−0.5) should be used when elite male skiers’ performance capability in 15 km classical-technique races is evaluated. Moreover, the body-mass exponent for V . O2max was demonstrated to be influenced by the distance covered, indicating that heavier skiers have a more pronounced positive pacing profile (ie, race speed gradually decreasing throughout the race) compared to that of lighter skiers.

Can France really stop them? : A study grounded on the realist perspective about the French foreign policy towards Syria as the root cause of the Phenomenon of French Foreign Fighters

During the Syrian conflict the number of European Foreign Fighters has increased exponentially and has become an ever-growing concern for European policymakers. This phenomenon presents host of major security challenges for European policymakers and governments. Among European countries, France provides the highest number of citizens who have gone to Syria to fight against Assad´s regime. The French authorities have estimated that by mid-2014, over 700 French citizens have left France and travelled to Syria to fight. Historically France has had a relationship with Syria which started with its role as a border-drawing colonial power. Grounded in a framework of realism, that emphasizes nation-states as the primary actor within the international system, the analysis concentrates on the role of France´s foreign policy on the Syria as push factor for terrorism and radicalization. This paper attempts to determinate a specific correlation between the policy that France has been conducting towards Syria between 2000 and 2015, and the phenomenon of French Foreign Fighters. Findings suggest that France´s foreign policy towards Syria is the main root cause of the French Foreign Fighters phenomenon.

Competition of sicklepod, cassia obtusifolia l., densities on soybean, glycine max (l.) merr., at variable row distance

Competition studies with soybeans, Glycine max (L.) Merr. "Bragg." and sicklepod, Cassia obtusifolia L., were conducted at the Agricultural Research and Education Center of the University of Florida in Quincy, Florida. Two field experiments were established, one on May 22, 1975. and the other four weeks later, on June 19, 1975, to determine the competitive effects of various sicklepod densities and the influences of soybean row distances on weed dry matter, soybear plant characteristics, yield components and seed yield, and on soil nutrient content. Control, low, medium, and high sicklepod densities in the first experiment were O, 25,000, 53,000, and 77,000 p1ants/ha, respectively; while the second experiment presented control, low, medium, and high sicklepod densities of O, 36,000, 68,000, and 122,000 plants/ha, respectively. Three soybean row distance treatments were tested using a constant pattern of 90-, 60-, and 45-cm widths throughout the growing season. Three other treatments, evaluated in a variable patern, were initially seeded in 30-cm row widths. Five weeks after planting, an appropriate number of soybean rows were harvested from the 30"cm pattern to establish row distances of 90, 60, and 30-60 cm for the remainder of the season. ln the greenhouse a test was conducted to evaluate the effects af those variables on seed germination and seedling vigor for the next soybean generation. As a result of full-season sicklepod competition, soybean plants were less branched, set fewer leaves, and presented thinner stems as compared to the control. However, height of soybean plants was not affected by the presence of sicklepod. ln one of the two experiments, number of nodes decreased for soybeans under weed campetition. The yield components--number of pods; number of seeds, and seed yield per soybean plant--were all similarly reduced due to weed competition. Seeds per pod were decreased to a lesser extent. Soybean seed yields per unit area were significantly diminished by increasing levels af sicklepod ínfestation. While the control produced 3120 kg/ha, the sicklepod densities of 25,000, 53,000, and 77,000 plants/ha reduced seed yíelds 47, 65, and 73%, respectively. As soybean row distances decreased, number of branches, number of leaves, and stem diameter of soybeans decreased. However, the height of soybean plants increased with narrwing of row width. The components of seed yield--number of pods, number of seeds, and seed yield per soybean plant--diminished as row spacing was reduced. Maximum difference between row distances for these attributes was attained for soybean plants under weed-free conditions. Generally, as row width decreased, soybean seed yield per unit area increased. Specifically, soybear.s in 90-cm rows, either in constant or variable row pattern, yielded less than soybeans in 60- and 30-60-cm rows in the variable pattern. Soil contents of phosphorus, potassium, calcium, and magnesium were not affected by the various levels of sicklepod and soybean populalions. Neither the sicklepod densities nor the soybean row distances influenced seed germination and seedling vigor in the next soybean generation. Sicklepod was a strong competitor with soybeans at all density ranges investigated. Because sicklepod grows taller than soybeans during the reproductive stages of the crop, limited success can be reached by varying row spacing alone. However, this practice is considered an integral measure to complement other methods of sicklepod control. Compared to constant rows, the soybean cropping system using variable row spacings presents the choice of planting soybeans at close row spacings to provide early competition with weeds and the possibility of obtaining a forage crop after the first month of growth, without any decreases on the final seed yields.

Comparing two multivariate unit root tests

In this essay, a method for comparing the asymptotic power of the multivariate unit root tests proposed in Phillips & Durlauf (1986) and Flˆores, Preumont & Szafarz (1996) is proposed. In order to determine the asymptotic power of the tests the asymptotic distributions under the null hypothesis and under the set of alternative hypotheses described in Phillips (1988) are determined. In addition, a test which combines characteristics of both tests is proposed and its distributions under the null hypothesis and the same set of alternative hypotheses are determined. This allows us to determine what causes any difference in the asymptotic power of the two tests against the set of alternative hypotheses considered

Purchasing power parity and the unit root tests: a robust analysis

Empirical evidence suggests that real exchange rate is characterized by the presence of near-unity and additive outliers. Recent studeis have found evidence on favor PPP reversion by using the quasi-differencing (Elliott et al., 1996) unit root tests (ERS), which is more efficient against local alternatives but is still based on least squares estimation. Unit root tests basead on least saquares method usually tend to bias inference towards stationarity when additive out liers are present. In this paper, we incorporate quasi-differencing into M-estimation to construct a unit root test that is robust not only against near-unity root but also against nonGaussian behavior provoked by assitive outliers. We re-visit the PPP hypothesis and found less evidemce in favor PPP reversion when non-Gaussian behavior in real exchange rates is taken into account.

Oligopolistic competition under knightian uncertainty

This artic/e applies a theorem of Nash equilibrium under uncertainty (Dow & Werlang, 1994) to the classic Coumot model of oligopolistic competition. It shows, in particular, how one can map all Coumot equilibrium (which includes the monopoly and the null solutions) with only a function of uncertainty aversion coefficients of producers. The effect of variations in these parameters over the equilibrium quantities are studied, also assuming exogenous increases in the number of matching firms in the game. The Cournot solutions under uncertainty are compared with the monopolistic one. It shows principally that there is an uncertainty aversion level in the industry such that every aversion coefficient beyond it induces firms to produce an aggregate output smaller than the monopoly output. At the end of the artic/e equilibrium solutions are specialized for Linear Demand and for Coumot duopoly. Equilibrium analysis in the symmetric case allows to identify the uncertainty aversion coefficient for the whole industry as a proportional lack of information cost which would be conveyed by market price in the perfect competition case (Lerner Index).

Testing unit root based on partially adaptive estimation

This paper proposes unit tests based on partially adaptive estimation. The proposed tests provide an intermediate class of inference procedures that are more efficient than the traditional OLS-based methods and simpler than unit root tests based on fully adptive estimation using nonparametric methods. The limiting distribution of the proposed test is a combination of standard normal and the traditional Dickey-Fuller (DF) distribution, including the traditional ADF test as a special case when using Gaussian density. Taking into a account the well documented characteristic of heavy-tail behavior in economic and financial data, we consider unit root tests coupled with a class of partially adaptive M-estimators based on the student-t distributions, wich includes te normal distribution as a limiting case. Monte Carlo Experiments indicate that, in the presence of heavy tail distributions or innovations that are contaminated by outliers, the proposed test is more powerful than the traditional ADF test. We apply the proposed test to several macroeconomic time series that have heavy-tailed distributions. The unit root hypothesis is rejected in U.S. real GNP, supporting the literature of transitory shocks in output. However, evidence against unit roots is not found in real exchange rate and nominal interest rate even haevy-tail is taken into a account.

Essays on competition and returns of inside money

In an early paper, Cavalcanti and Wallace (2001) showed, using a computable version of Cavalcanti-Wallace model (CW-1999), that optimal regulation induces banks to pay interests, instead of contracting the money supply in an inside money allocation. Here, we generalize CW in two fashions, assuming inside money allocations, so that banks are supposed to issue money as they find a potential producer wishing to produce. The first generalization allows for seasonality due to real shocks on preferences with persistence and for monetary policy improvement. We found an asymmetric path for interest rates when constraints matter, even when shocks are independent. The second generalization allows for bank competition, in the sense that banks can choose between two different banking nets. We proof the existence of simple stable and unstable equilibria and also verify the existence of multiple equilibria.

Relations between regulation, competition policy and consumer protection in telecommunications, electricity and water supply

The purpose of this article is to discuss the relations between regulation, competition policy and consumer protection these relations in three key sectors of Brazil’s infrastructure: telecommunications, electricity and water supply. A study of the literature points to two general principles. First, the need for consumer protection depends on the “degree of sovereignty” enjoyed by consumers, defined in terms of the cost of consumer organization, consumers’ ability to evaluate services, and the level of competition in each sector. Second, the less sovereignty consumers enjoy the more consumer protection institutions are involved with regulation agencies. The evidence for the Brazilian case apparently corroborates these points. In addition, it is important to stress that consumer complaints in regulated sectors seem to have increased more intensely than in others. The article is divided into three sections. Section 1 presents theoretical elements and aspects of the relations between regulation, competition policy and consumer protection evidenced by international experience. Section 2 analyzes the Brazilian experience and in particular the available statistics on consumer complaints about telecommunications, electricity and water supply, submitted to Fundação Procon-SP during the nineties. The last section points to possible configurations of the institutional relations between competition policy, regulation and consumer protection, showing how the existing configuration of these areas in the three infrastructure sectors discussed confirms that the theoretical framework proposed has reasonable predictive power.