Friction tests on polyurethane and concrete. Rolling friction tests and sliding friction tests on anti-abrasion polyurethane, anti-seepage polyurethane and concrete.

The climate in arctic areas of the world is a challenge for airports. Snow and ice accumulates on the runways, forcing airports to close for snow clearing. Pilots need to know that the friction is at a respectable level before they land, and may have to return if not. This thesis looked at a polymer called polyurethane, and if this material could be used as a new runway material, considering both rolling friction and sliding friction. There were tested two types of polyurethane. It also looked into how ice on top of polyurethane behaved when a car was driven over the material, compared to concrete. The results from the tests showed that there was no difference in friction when the testing was done with ice on top of the materials. Rolling friction without ice gave a higher coefficient of friction for both types polyurethane compared to concrete. From the sliding friction tests, one could see that one type of polyurethane had almost the same coefficient of friction as concrete, and the other polyurethane got a higher coefficient of friction. The ice breaking test showed that it is much easier to remove ice from polyurethane, compared to concrete

Geographical Variation of the Impact by the Covid-19 Pandemic in Norway. How much has the covid-19 pandemic affected excess mortality and excess decline in employment in Norway on a geographical level in 2020?

This thesis investigates the geographical variation of excess mortality and excess decline in employment, during the covid-19 pandemic in Norway. The data were collected from Statistics Norway and The Norwegian Labour and Welfare Administration. The method tells you how much the present value are greater or lesser, compared to previous years. Excess mortality and decline in employment were measured at a municipality, and county levels respectively. I found no evidence of effect on excess all-cause mortality, but sign of effect on excess decline in employment. The results showed evidence of geographical differences, were Oslo had the most dominant results regarding decline in employment. The thesis can be used as preliminary results for policy makers for future events, and can be used as a guideline to reproduce the investigation with present up to date data. The method used is straightforward, but makes it easier to reproduce and compare with other similar investigations

The market and the masses: From chaotic corners to social media (re)tail events

In this essay, I examine and discuss the relationship between the market and the masses in light of recent retail-driven surges in the stock prices of firms like GameStop and AMC. Using two historical snapshots, I draw out similarities and differences between the way the collective power and rationality (or lack thereof) of the masses was portrayed in late-nineteenth and early-twentieth-century market literature and in recent debates about retail investor inclusion and social media or social trading platform-driven market volatility. The main difference between the historical discourse and the present situation is that the new digital market-expanding technologies enable effective retail investor mobilization and thus, increase the retail swarms’ market-moving powers, which were previously less agile and forceful. However, this eased and widened market access also transforms digital life into alternative data that is subjected to age-old strategies of market exploitation

Financialization re-imagined

Speculative Communities is not just another critique of neoliberal-financial capitalism. It is a novel and audacious attempt to construct a conceptual framework with which it becomes possible to articulate and address major questions concerning our economies, our financial system, our democratic institutions, and our increasingly digital technology-mediated lives

Verdipremie på Oslo Børs : en studie av Oslo Børs 1983-2010

Denne oppgaven drøfter hvorvidt det eksisterer en verdipremie, definert som differansen i avkastningen mellom selskaper med høy og lav P/B og P/E, på Oslo Børs i perioden 1983-2010. Dette påvises ved en signifikant risikojustert verdipremie ved P/B og P/E. I forhold til MSCI Norway gir en verdibasert investeringsstrategi, både ved P/B og P/E, en risikojustert meravkastning over hele perioden uten at denne er signifikant for P/B. I tillegg til påvisning belyses mulige årsaker til denne verdipremien langs tre dimensjoner; Ved å kombinere ulike faktorer som mål på disse risikotypene finner vi gjennom regresjonsanalyse at verdipremien i P/E er bygd opp av en motsyklisk effekt, målt ved en “long –short posisjon” i lav-høy beta-selskaper, og er positivt avhengig av verdipremien i P/B. Ved P/B finner vi at verdipremien er bygd opp av en motsyklisk effekt, målt både ved en innebygd “long –short posisjon” i lav-høy beta-selskaper og en adferdsfinansiell motsyklisk effekt hvor fjorårets tapere blir årets vinner. I tillegg bygger den på en størrelseseffekt, hvor meravkastningen til mindre selskaper relativt til store, er sammenfallende med verdipremien. Egenkapitalandelen er også lavere i verdi enn vekstporteføljen ved P/B, noe som gjør verdipremien positivt avhengig av avkastningen til selskaper med lav andel egenkapital av totalkapitalen Det samme ser vi ved avkastning på egenkapital. I sum finner vi at verdipremie i lys av P/B kan forklares av finansiell risiko, operasjonell risiko og adferdsfinansielle faktorer som størrelseseffekt og en motsyklisk effekt. For verdipremien ved P/E kan vi ikke påvise noen tilhørende operasjonell risiko eller adferdsfinansielle faktorer foruten en gjensidig positiv avhengighet mellom verdipremiene ved P/B og P/E. This thesis discusses whether there is a value premium, defined as the difference in returns between companies with high and low price-to-book ratios and price-to-earnings ratios, on the Oslo Stock Exchange during the period 1983-2010. This is demonstrated by a significant risk adjusted value premium by price-to-book and price-to-earnings. Compared to the MSCI Norway, a value based investment strategy gives a risk adjusted excess return, though not a significant one for price-to-book over the entire period. In addition to detecting a value premium this thesis discusses possible reasons for a value premium along three dimensions: financial risk, operational risk and behavioral finance factors. By combining various factors that target these types of risk, we find by regression analysis that the value premium in the price-to-earnings is made up of a contrarian effect, measured by a "long-short position" in low-high beta companies, and a positively dependent on the value premium in “price-to-book”. We find that the value premium in price-to-book is made up of a contrarian effect, as measured both by a "long-short position" in the low-high-beta companies and a contrarian effect where last year's losers will be the winner. In addition, it builds on a size effect, where the excess return for relatively small companies to large, coincides with the value premium. The equity ratio in price-to-book is also lower in the value portfolio than the growth portfolio. This makes the value premium positive dependent on the return of companies with low share of total equity, as we see the return on equity. In sum, we find that the value premium in price-to-book, can be explained by financial risk, operational risk and conduct financial factors such as size effect and a contrarian effect, while for the value premium in price-to-earnings we cannot demonstrate any associated operational risk or behavioral financial factors, but a mutual positive dependence between the value premium to the price-to-book and price-to-earnings