Trading efficiency in water quality markets

A crucial factor in the success of any water quality trading market is its ability to cost-effectively reallocate nutrient allowances from initial holders to those users who find them most valuable; the market's trading efficiency. We explore causes of and solutions to trading inefficiency by assessing the impact on participant transaction costs and the tradeoffs that occur as a result of policy design decisions. Differing impacts of baseline-credit and cap-and-trade markets, the impact of trading rules and monitoring regimes are discussed in this endeavour. Possible solutions of increased information flows and regulatory certainty are also discussed. We then apply this framework to three existing water quality trading schemes; two from the US, and one from New Zealand. We use this experience to extract general recommendations for policy makers looking to maximise trading efficiency when designing future water quality trading markets.Nutrient trading, trading efficiency, water quality markets, transaction costs, Community/Rural/Urban Development, Environmental Economics and Policy, Health Economics and Policy, International Relations/Trade,

On Morals, Markets, and Climate Change: Exploring Pope Francis’ Challenge

The relation between Culture and Business has caught researchers’ attention long ago; itis not hard to find studies relating to these topics. According to Hofstede et al. (2010, p.18), Hampden-Turner and Trompenaars (2012, p. 8), and Erez and Gati (2004, p. 5),culture can be defined in many levels, for example, organizational culture, and national culture. The field of Business also contains several disciplines, for example, International Business Management, Project Management, and Project Governance. However, not somany studies can be found studying the relation between National Culture and Project Governance; therefore, this study is focused on this relation.This study is designed following a qualitative approach in order to clarify the relation between National Culture and Project Governance Principles. Case studies are used targeting the IT industry of three countries, Spain, Sweden, and Taiwan. These cases also contain the classical theory of cultural dimensions from Hofstede. Hofstede’s dimensionsare Power Distance (PDI), Individualism vs. Collectivism (IDV), Uncertainty Avoidance(UAI), Masculinity vs. Femininity (MAS), Long-term Orientation (LTO), and Indulgencevs. Restraint (IDU). They are applied in this study for distinguishing the differences between countries. This study is also based on the definition of Project GovernancePrinciples from Garland (2009), Klakegg (2008), and Müller et al. (2013). ProjectGovernance Principles are split into two categories as well, hard/ structural principles andsoft/ behaviour principles.In order to clarify the link between National Culture and Project Governance Principles,this thesis’ authors interviewed 19 people, including 10 project managers and 9 experts.All of them have a long experience dealing with Project Management in the three selected countries. Their answers are based on the knowledge and experience of Project Management and Project Governance, as well as their opinions about their own national culture. After analysing the interviews, the authors consider that differences between these three countries in Project Governance and Project Governance Principles do exist. On the other hand, there are also some similar parts, for example, the influence ofcustomers’ orientation and preference. Moreover, respondents, Project Managers and Experts, all mentioned it is also necessary to be aware of the globalized environment, inother words, there is no influence of a single national culture in one country anymore.However, they all admit the importance of their own national culture as well. All these findings from this study encourage further and deeper study in the future

Transforming Energy Networks via Peer to Peer Energy Trading: Potential of Game Theoretic Approaches

Peer-to-peer (P2P) energy trading has emerged as a next-generation energy management mechanism for the smart grid that enables each prosumer of the network to participate in energy trading with one another and the grid. This poses a significant challenge in terms of modeling the decision-making process of each participant with conflicting interest and motivating prosumers to participate in energy trading and to cooperate, if necessary, for achieving different energy management goals. Therefore, such decision-making process needs to be built on solid mathematical and signal processing tools that can ensure an efficient operation of the smart grid. This paper provides an overview of the use of game theoretic approaches for P2P energy trading as a feasible and effective means of energy management. As such, we discuss various games and auction theoretic approaches by following a systematic classification to provide information on the importance of game theory for smart energy research. Then, the paper focuses on the P2P energy trading describing its key features and giving an introduction to an existing P2P testbed. Further, the paper zooms into the detail of some specific game and auction theoretic models that have recently been used in P2P energy trading and discusses some important finding of these schemes.Comment: 38 pages, single column, double spac

The Role of Tradable Permits in Water Pollution Control

This paper was prepared as a conceptual framework to stimulate discussions on the role and applicability of tradable permits in water pollution control among participants of the Technical Seminar on the Feasibility of the Application of Tradable Water Permits for Water Management in Chile (13-14 November 2003 in Santiago de Chile). In Chile, water pollution is a major problem. Until recently, existing regulations to control water pollution consisted mainly of non-market based instruments. Innovative instruments are now being explored via a recent national law for tradable emission/discharge permits. The instrument of tradable discharge permits is one of several market-based instruments used in water management and pollution control. Tradable discharge permits are actually among the most challenging market-based instruments in terms of both their design and implementation. Experience to date with tradable discharge permits for water pollution control has been limited and mainly comes from several regions of the US and Australia. The paper at first introduces tradable permits as part of an overall taxonomy of economic instruments in the field of water management. In this context, three fundamentally different fields of application of tradable permits systems relating to water are presented: tradable water abstraction rights, tradable rights to water-based resources and tradable water pollution rights. The remaining of the paper deals exclusively with the latter category, i.e. tradable water pollution rights, their role and applicability in water pollution control

Hazard identification, risk assessment and risk control: a study at construction site

Occupational Safety and Health Act (OSHA) is an Act to make further provisions for securing the safety, health and welfare of persons at work, for protecting others against risks to safety or health in connection with the activities of persons at work, to establish the National Council for Occupational Safety and Health, and for matters connected therewith. This study focuses on infrastructure construction in Pagoh Education Hub. In present days, despite of knowledge in OSHA act, workers often proceed the work without considering any safety precaution or act at workplace as stated in OSHA Act. Due to ignorance of workers and employee on OSHA Act, workers are exposed to danger and hazard at their workplace causing them minor or worst fatal injury. The data collection was carried out through site investigation using Preliminary Hazard Analysis (PHA), HIRARC form and interview session with several workers in the constructio. The main objective of this study is to support the idea to coordinate and redefined the practice of occupational safety and health as workers discipline at their workplace based on existing potential hazard. This study was conducted to identify the hazard that occur at the workplace and analyse the safety precaution taken by the workers and employer to avoid accidents. As a result, this study listed several suggestions to improve the practice of occupational safety and health among workers in the workplace

A Social-Centred Gamification Approach to Improve Household Water Use Efficiency

The research community is showing a growing interest in gamification and there are works showing the usefulness of gamification in different problem domains. Recently, a special interest has been given to the gamification design on systems addressing natural resource consumption issues such as to encourage efficient household water consumption. Despite the potential benefits, the gamification design method for such system is not conclusive. In this paper, we proposed a social-centred gamification approach to improve household water use efficiency. The approach firstly identified the water use related social network activities based upon existing popular social network activities. The approach then gamified each identified activity in terms of traditional instruments for improving water use efficiency and gamification rewards. The approach also used a set of indicators to explicitly detect and monitor both online social network activities and offline water use activities. With this approach the gamification effectiveness can be better traced and evaluated.ISS-EWATUS, Integrated Support System for Efficient Water Usage and Resources Management, FP7 project (grant no. 619228), funded by the European Communit