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Evidence of package trading in a mature multi-species ITQ market

In multi-species fisheries managed under ITQs, the existence of joint production may lead to complex catch-quota balancing issues. Previous modelling and experimental research suggest that, in such fisheries, some fishers may benefit from the ability to trade packages of fishing quotas, rather than fulfil their quota needs by simultaneously bidding on separate single-species quota markets. This note presents evidence of naturally occurring package trades in a real fishery. Based on this evidence, we suggest that further empirical and modelling research is required on the potential and limitations of package quota trading in mixed fisheries managed with ITQs. © 2014.

The Impact of Emissions Trading on the Price of Electricity in Nord Pool : Market Power and Price Determination in the Nordic Electricity Market

The objective of this thesis is to find out how dominant firms in a liberalised electricity market will react when they face an increase in the level of costs due to emissions trading, and how this will effect the price of electricity. The Nordic electricity market is chosen as the setting in which to examine the question, since recent studies on the subject suggest that interaction between electricity markets and emissions trading is very much dependent on conditions specific to each market area. There is reason to believe that imperfect competition prevails in the Nordic market, thus the issue is approached through the theory of oligopolistic competition. The generation capacity available at the market, marginal cost of electricity production and seasonal levels of demand form the data based on which the dominant firms are modelled using the Cournot model of competition. The calculations are made for two levels of demand, high and low, and with several values of demand elasticity. The producers are first modelled under no carbon costs and then by adding the cost of carbon dioxide at 20€/t to those technologies subject to carbon regulation. In all cases the situation under perfect competition is determined as a comparison point for the results of the Cournot game. The results imply that the potential for market power does exist on the Nordic market, but the possibility for exercising market power depends on the demand level. In season of high demand the dominant firms may raise the price significantly above competitive levels, and the situation is aggravated when the cost of carbon dioixide is accounted for. Under low demand leves there is no difference between perfect and imperfect competition. The results are highly dependent on the price elasticity of demand.

Informational efficiency of the European Union emission allowance market

This thesis studies the informational efficiency of the European Union emission allowance (EUA) market. In an efficient market, the market price is unpredictable and profits above average are impossible in the long run. The main research problem is does the EUA price follow a random walk. The method is an econometric analysis of the price series, which includes an autocorrelation coefficient test and a variance ratio test. The results reveal that the price series is autocorrelated and therefore a nonrandom walk. In order to find out the extent of predictability, the price series is modelled with an autoregressive model. The conclusion is that the EUA price is autocorrelated only to a small degree and that the predictability cannot be used to make extra profits. The EUA market is therefore considered informationally efficient, although the price series does not fulfill the requirements of a random walk. A market review supports the conclusion, but it is clear that the maturing of the market is still in process.

Brotherhood in Jerusalem, Capital of Israel Coin

Obverse: 25 Lirot silver coin. Reverse: Stylized design of Jerusalem on the dove of peace.

FactCheck: is our grocery market one of the most concentrated in the world?

With one of the most concentrated food retail sectors in the world dominated by the supermarket duopoly, the barriers to making it easy to buy local food in Australia are significant. It is time for Australia to learn from the example of other countries and provide assistance to rebuild local food systems.” – The Australian Greens. However, the percentage of market share controlled by the two major supermarkets, Coles and Woolworths, depends on which groceries you include.

Move over Aldi, Lidl may be next for Australian market

If speculation that German discount supermarket, Lidl, is preparing to launch into the Australian market is correct, it will be the biggest shake up in the grocery sector since Aldi’s arrival in 2001. With potentially five viable combatants in the mix, the way we shop and how supermarkets and suppliers compete, will fundamentally change.

Livelihood, land use and environment interactions in the highlands of East Africa

This study aims at improving understanding of the interactions of livelihoods and the environment focusing on both socio-economic and biodiversity implications of land use change in the context of population pressure, global and local markets, climate change, cultural and regional historical factors in the highlands of East Africa. The study is based on three components (1) two extensive livelihood surveys, one on Mt. Kilimanjaro in Tanzania and the other in the Taita Hills of Kenya, (2) a land use change study of the southern slopes of Mt. Kilimanjaro focusing on land use trends between 1960s and 1980s and 1980s and 2000 and (3) a bird diversity study focusing on the potential impacts of the future land use change on birds in the main land use types on the slopes and the adjacent plains of Mt. Kilimanjaro. In addition, information on the highlands in Embu and the adjacent lowlands in Mbeere of Kenya are added to the discussion. Some general patterns of livelihood, land use and environment interactions can be found in the three sites. However, the linkages are very complex. Various external factors at different times in history have influenced most of the major turning points. Farmers continually make small adaptations to their farming practices, but the locally conceived alternatives are too few. Farmers lack specific information and knowledge on the most suitable crops, market opportunities and the quality requirements for growing the crops for markets. Population growth emerges as the most forceful driver of land use and environmental change. The higher altitudes have become extremely crowded with population densities in some areas higher than typical urban population densities. Natural vegetation has almost totally been replaced by farmland. Decreasing farm size due to population pressure is currently threatening the viability of whole farming systems. In addition, capital-poor intensification has lead to soil fertility depletion. Agricultural expansion to the agriculturally marginal lowlands has created a new and distinct group of farmers struggling constantly with climate variability causing frequent crop failures. Extensification to the fragile drylands is the major cause of fragmentation and loss of wildlife habitat. The linkages between livelihoods, land use and the environment generally point to degradation of the environment leading to reduced environmental services and ecosystem functions. There is no indication that the system is self-regulating in this respect. Positive interventions will be needed to maintain ecosystem integrity.

Small firm internet adoption: A market oriented approach

Fundamental to the development of new customer value offerings via web-based commerce is a small firm's ability to strategically acquire and exploit knowledge. The focus of this paper is the empirical testing of a normative web-based commerce adoption model developed from a review of the extant literature related to electronic marketing, the Internet and the diffusion of new innovations. A preliminary test of the model's theoretical contentions lent support to its overall focus, but found that the firm's existing learning capabilities were diminished during the adoption of web-based commerce. Consequently, sub-optimal adoption outcomes were associated with insufficient knowledge development.

Plantation crops

Plantation horticulture is an important part of the economic landscape of many tropical countries. Plantations were developed in association with colonial expansion and the original models were based on the production of monocrops which had a ready export market, using cheap or slave labour. Plantations in the twenty first Century are less likely environments for exploitation of human and environmental capital. They are however, linked to crop production on a large scale for produce to be sold, at profit, for export to distant markets rather than local sale. A range of crops can be broadly categorized into plantation crops. Plantations continue to be effective models for efficient agricultural production and will evolve in response to the continued demand for food, fruit, fibre, oil crops and timber from a growing population

Choosing physical science courses: The importance of cultural and social capital in the enrolment decisions of high achieving students

This paper reports and discusses findings from a recent study which explored the science enrolment decisions of high achieving, or ‘science proficient’ secondary level students in Australia (Lyons 2003). The research was prompted by the increasing reluctance of such students to enrol in postcompulsory science courses, particularly in physics and chemistry. The study investigated the influences on students’ deliberations about taking a range of science courses. However, this report confines itself to decisions about enrolling in the physical sciences. The paper summarises the students’ experiences and conceptions of school science, as well as the characteristics of their ‘family worlds’ found to be influential in their decisions1. The paper discusses the important roles of cultural and social capital in these decisions, and concludes that enrolment in physical science courses was associated with congruence between the students’ conceptions of school science, and characteristics of their family backgrounds.