The choice of instrument for EU legislation: mapping the system of governance under MiFID II and MiFIR

Centralisation is a coat of many colours, and as is shown in this book it can be studied from many perspectives. Perhaps the broadest stripes in the pattern are those of the legal instruments governing the field at issue – in this case financial markets in the EU. This study focuses particularly on governance of EU markets in financial instruments under Directive 2014/65/EU of the European Parliament and of the Council of 15 May 2014 on markets in financial instruments [MiFID II], and Regulation (EU) No 600/2014 of the European Parliament and of the Council of 15 May 2014 on markets in financial instruments [MiFIR]

Playing With Fire Compounds: The Tonal Accents of Compounds in (North) Norwegian Preschoolers’ Role-Play Register

Prosodic features are some of the most salient features of dialect variation in Norway. It is therefore no wonder that the switch in prosodic systems is what is first recognized by caretakers and scholars when Norwegian children code-switch to something resembling the dialect of the capital (henceforth Urban East Norwegian, UEN) in role-play. With a focus on the system of lexical tonal accents, this paper investigates the spontaneous speech of North Norwegian children engaging in peer social role-play. By investigating F0 contours extracted from a corpus of spontaneous peer play, and comparing them with elicited baseline reference contours, this paper makes the case that children fail to apply the target tonal accent consistent with UEN in compounds in role-play, although the production of tonal accents otherwise seems to be phonetically target like UEN. Put in other words, they perform in accordance with UEN phonetics, but not UEN morpho-phonology

Morphological variation and development in a Northern Norwegian role play register

This paper investigates the variation in and development of a set of morphological variables in a register known to be used by Norwegian children when engaging in role play. In this register they code-switch to something resembling the standard or Oslo variety for their in-character role utterances. The variation across variables, subjects, and age is demonstrated and discussed, and although most variables are used in the standard variants, their rates vary. A fitted binomial generalised mixed effect analysis on the most frequent variables shows that the rate of standard variants increases significantly as an effect of age

Linear wave response of a 2D closed flexible fish cage

Closed flexible fish cages (CFFC) are proposed as a new concept in marine aquaculture, replacing the conventional net cages in order to meet ecological challenges related to fish lice and escapes. A linear mathematical model of a freely floating 2D CFFC in waves have been developed. It was found that the wave induced rigid body motion responses of a flexible CFFC in sway, heave and roll are significantly different from the responses of a rigid CFFC. Large ratios between free-surface elevation amplitudes and incident wave amplitude are predicted inside the tank at the first and third natural sloshing frequencies. It implies that non-linear free surface effects must be accounted for inside the tank in realistic sea conditions. The dynamic tension in the membrane of the CFFC must be smaller than the static tension in the applied structural method. For the analysed case with 25 m between the centre of the floaters, the most probable largest dynamic tension is larger than the static tension, for significant wave heights larger than 0.5 meter. The effect of scaling of elasticity on the rigid body motion have also been investigated. The non-dimensional response of the CFFC versus non-dimensional frequency, and based on Froude scaling using an elasticity available in model scale have been compared to the response of the CFFC using the elasticity for full scale. These responses were found to deviate to a large extent, showing limitations of model tests of a CFFC.publishedVersionThis is an open access article distributed under the terms of the Creative Commons CC-BY license, which permits unrestricted use, distribution, and reproduction in any medium, provided the original work is properly cited. You are not required to obtain permission to reuse this article

Pornografi : et tema for kirken

How can the church can deal with pornography consumption? To answer this question a contemporary Christian ethic of sexuality, based on the concept of desire, is developed. This ethic of sexuality is used as the theoretical perspective on the empirical material, consisting of mainly academical literature on pornography. A discursive analysis of the study material is made to develop the following conclusions: Concerning the issue of the pornography consumption by children and adolescents, an argument for an ongoing dialogue has been made. Rather than seeking to protect children and adolescents from sexual content in media, the emphasis should be on the acknowledgment and guidance of their sexual desire. A similar argument has been made against the perception of pornography as a drug, and pornography consumption as a form of addiction. Several recent Christian publications argue that many Christians are addicted to porn, and that this addiction is the cause of great aguish. In this thesis however, it is argued that moral incongruence and shame, is the more probable cause. The task of the church is therefore to adjust an overly large focus on sexual sins and create a community where sexual desires can be discussed. Finally, the question of whether pornography consumption can be understood as infidelity, is discussed. It is argued, that pornography consumption in a relationship not necessarily equates infidelity. It is rather misdirected desire with the possibility of leading to infidelity

Tänk globalt, samverka regionalt och agera lokalt

Samverkan mellan aktörer från olika samhällsnivåer och sektorer är en central aspekt i strategiskt klimat- och energiarbete. Den regionala administrativa nivån är viktig i detta sammanhang då dess aktörer i stor utsträckning arbetar samordnande och strategiskt med övergripande aspekter av klimatfrågor. Syftet med denna uppsats är att studera Länsstyrelsens roll som en av flera regionala aktörer i det strategiska klimat- och energiarbetet, samt hur regionala klimat- och energistrategier i praktiken har kommit att användas av aktörer som Länsstyrelsen, kommuner och regionala samverkansorgan. Studien är en kvalitativ analys över Länsstyrelsens strategiska klimat- och energiarbete utifrån regeringsuppdraget från 2008 att ta fram regionala klimat- och energistrategier. Arbetet omfattar de fyra länen Stockholm, Södermanland, Västmanland och Östergötland och analysen bygger framförallt på intervjuer med tjänstemän som arbetar med klimat- och energifrågor eller fysisk planering på Länsstyrelsen, kommuner och regionala samverkansorgan samt ett Landsting. Resultaten av studien visar att de regionala klimat- och energistrategierna har kommit till begränsad användning i de olika aktörernas klimatarbete. Emellertid har arbetsprocesserna kring strategierna bidragit till att det strategiska klimat- och energiarbetet utvecklats i länen bland annat genom ökad samverkan mellan berörda aktörer. Studien visar även att det finns otydligheter kring de regionala aktörernas roller, dessa otydligheter upplevs dock av aktörerna själva inte som något hinder i arbetet. De otydliga rollerna kan snarare tänkas leda till ökad dialog mellan aktörerna. Resultaten av studien visar likväl på andra aspekter som aktörerna upplever som hinder i deras strategiska klimat- och energiarbete. Något som delas av flera aktörer är bristande resurser för samverkan mellan aktörer och sektorer samt de nationella stuprör som genomsyrar den offentliga förvaltningen i Sverige. Avslutningsvis kommer länsstyrelsen ha en fortsatt viktig roll i det strategiska klimat- och energiarbetet. Inom snar framtid kommer flera av de regionala strategierna att konkretiseras genom att åtgärdsprogram tas fram. Ett arbete som kommer ställa stora krav på Länsstyrelserna att fortsätta utveckla den externa dialog som förs med berörda aktörer samt att man får en tvärsektoriell samsyn internt i det strategiska klimat- och energiarbetet

Linear wave-induced dynamic structural stress analysis of a 2D semi-flexible closed fish cage

Closed fish cages in the sea are proposed as a new concept in marine aquaculture, replacing the conventional net cages in order to meet ecological challenges related to fish lice and escapes. A closed fish cage can be compared to a floating tank structure with an internal free surface. Several types of closed cages have been suggested, and they are categorised according to structural properties as flexible membrane structures (fabric), semi-flexible structures (glass fibre) and rigid structures (steel or concrete). To be able to develop safe and reliable structures, more knowledge is required on the seakeeping behaviour of closed cages in waves and the structural response to the wave loads. This paper builds on a theory presented in Strand and Faltinsen (2019) on the linear wave loads on a 2D closed flexible fish cage. A modelling error has been found in Strand and Faltinsen (2019), however, all the main conclusions are in hold. The error has been corrected in the model in the present paper. The present paper extends the model to include bending in the structural model to be able to handle semi-flexible structures where bending stiffness is significant. In this paper, the linear theory of a 2D semi-flexible closed fish cage in waves is developed and analysed to investigate the structural response of the semi-flexible closed cage in waves. We have compared a quasi-static analysis with a fully coupled hydroelastic analysis to investigate if it is a valid and conservative assumption to assume that the stresses in the structure can be assumed quasi-static. If a hydroelastic analysis is necessary or not, is dependent on the stiffness of the structure. We have investigated what happens with the stress in the curved beam part of the closed fish cage for increasing and decreasing stiffness relative to a reference composite structure. One stiffer and two softer cases have been analysed. One major concern for the structural stresses in a closed cage is the effect of sloshing. Sloshing is internal wave motion inside the cage and have multiple resonance periods. The results indicate that to use the quasi-static assumption in structural stress calculation is conservative within the given frequency range for all examined stiffnesses and frequencies, except the frequencies very close to the second sloshing frequency. Close to the second sloshing frequency for all the examined stiffnesses, a localised peak can be observed in the coupled hydroelastic results. The second sloshing frequency is a frequency connected to a symmetric sloshing mode. Rigid body motion is not affected at the symmetric sloshing frequency for an assumed rigid structure, and are therefore also not visible in the stress results from the quasi-static analysis. The structural stress in irregular sea was calculated. These results show no indication of increased stress close to the second sloshing frequency. However, this is not a surprising result since the stress peak is very localised in frequency, and the accumulated effect on the stress standard deviation is therefore small.publishedVersion/© 2020 The Authors. Published by Elsevier Ltd. This is an open access article under the CC BY license (http://creativecommons.org/ licenses/by/4.0/)

Using Stochastic Programming to Evaluate Biomass Estimation Methods in Salmon Farming

I denne oppgaven analyserer vi verdien av økt presisjon fra nyere teknologiske fremskritt innen biomasseestimering i lakseoppdrett. Analysen gjennomføres gjennom en komparativ studie, hvor vi løser et salgsplanleggingsproblem. Ved å sammenligne løsninger som bruker tradisjonelle biomasseestimeringsmetoder med løsninger som bruker sanntids biomasseestimeringsteknologi, kvantifiserer studien den økte fortjenesten og finner verdien av informasjon oppnådd fra mer presise biomasseestimasjoner. Instansene som utnytter sanntids biomasseestimering er basert på teknologi levert av selskapet OptoScale. Vi finner den optimale løsningen for lakseoppdretternes salgsplanleggingsproblem ved å definere en flertrinns stokastisk programmeringsmodell over en planleggingshorisont på fire måneder. Modellen optimerer salgsbeslutninger for å maksimere fortjenesten samtidig som den tar hensyn til produksjonskostnader. Den inkorporerer usikkerhet i både pris- og biomasseutvikling. I tillegg imøtekommes risikopreferansene til lakseoppdrettere, fra risikonøytral til risikoavers, ved å veie forventet fortjeneste opp mot Conditional Value at Risk. Resultatene viser en økning i fortjeneste på 4\% for en risikonøytral lakseoppdretter som benytter Optoscales estimater sammenlignet med tradisjonelle estimater. Forskjellen øker til 11\% for risikoaverse lakseoppdrettere, ettersom de gjør en høyere andel av salget gjennom terminkontrakter. Resultatene viser hvordan økt presisjon i biomasseestimering hjelper lakseoppdrettere til å ta bedre salgsbeslutninger og generere høyere fortjeneste. Denne oppgaven bidrar til den eksisterende litteraturen ved å evaluere potensialet for økt lønnsomhet i lakseoppdrettsnæringen gjennom å ta i bruk teknologiske fremskritt.In this thesis, we analyze the value of increased precision from recent technological advancements in biomass estimation in salmon farming. The analysis is conducted through a comparative study, where we solve a sales planning problem. By comparing solutions from instances utilizing traditional biomass estimation methods with instances that utilize real-time biomass estimation technology, the study quantifies the increased profits and determines the value of information gained from more precise biomass estimations. The instances leveraging real-time biomass estimation rely on the technological solutions provided by the company Optoscale. We determine the optimal solution for salmon farmers' sales planning problem by defining a multi-stage stochastic programming model over a four-month planning horizon. The model optimizes sales decisions to maximize profits while accounting for production costs. It incorporates uncertainty in both price and biomass estimation development. Furthermore, the model considers the risk preference of salmon farmers, ranging from risk-neutral to risk-averse, by weighing expected profits against Conditional Value at Risk. Results reveal an increase in profits of 4\% for a risk-neutral salmon farmer utilizing Optoscale's estimations compared to traditional estimations. The difference increases to 11\% for risk-averse salmon farmers, as they make a higher portion of their sales through forward contracts. The results show how increasing precision in biomass estimates helps salmon farmers make better sales decisions and generate higher profits. This thesis contributes to the existing literature by evaluating the potential for enhanced profitability in the salmon farming industry by adopting technological advancements

Forecasting Short-Term WTI Crude Oil Prices: Are State-of-the-Art Deep Learning Models More Accurate than Traditional Econometric Models?

Nøyaktige prediksjoner av prisen på West Texas Intermediate (WTI) råolje står sentralt for en rekke interessenter på grunn av dens viktige rolle i globalt energiforbruk og økonomisk aktivitet. Nye fremskritt innen dyp læring har skapt håp om at disse modellene kan forbedre nøyaktigheten for tidsserie-prediksjoner. Likevel er det fortsatt usikkerhet knyttet til hvordan disse komplekse modellene presterer sammenlignet med tradisjonelle økonometriske modeller for kortsiktig prediksjon av råoljepriser. Denne oppgaven sammenligner evnen til avanserte dyp lærings-modeller og tradisjonelle økonometriske modeller for kortsiktig prediksjon av råoljepriser. Ved å ta i bruk et omfattende datasett fra 1986 til 2023, evaluerer vi toppmoderne modeller som Temporal Fusion Transformer (TFT), N-linear og DeepAR mot mer etablerte modeller som Long Short-Term Memory (LSTM) nettverk, Gated Recurrent Unit (GRU) nettverk og tradisjonelle økonometriske modeller som Autoregressive Integrated Moving Average (ARIMA), Vector Error Correction Model (VECM) og Naive forecast. Vi innlemmer også multivariat data fra Google Trends, samt andre variabler relatert til oljetrading for å undersøke virkningen disse variablene har på nøyaktigheten i prediksjonene. På tross av det teoretiske potensialet til komplekse modeller, finner vi at enklere modeller som ARIMA og Naive Forecast ofte gir mer nøyaktige prediksjoner. Dette tyder på at økt modell-kompleksitet ikke nødvendigvis forbedrer nøyaktighet på prediksjonene i det volatile råolje-markedet. Studien vår gir også et kritisk perspektiv på bruken av komplekse dyp lærings-modeller innen prediksjon av finansielle tidsserier, og legger vekt på viktigheten av robusthet og benchmarking for kortsiktig prediksjon av råolje-priser.Accurate forecasts of West Texas Intermediate (WTI) crude oil prices are central for economic stakeholders due to its key role in global energy consumption and economic activities. Although recent advancements in deep learning have raised hopes for their potential in time series forecasting, there is still uncertainty about how these complex models compare to traditional econometric models in predicting short-term oil prices. This thesis compares the effectiveness of advanced deep learning models and traditional econometric models in forecasting short-term WTI crude oil spot prices. Using a comprehensive dataset from 1986 to 2023, we evaluate state-of-the-art models including the Temporal Fusion Transformer (TFT), N-linear, and DeepAR against more established models such as Long Short-Term Memory (LSTM) networks, Gated Recurrent Unit (GRU) networks and traditional econometric models like the Autoregressive Integrated Moving Average (ARIMA), the Vector Error Correction Model (VECM) and the Naive forecast. Additionally, our analysis incorporates multivariate data from Google Trends and oil trading variables to examine their impact on predictive accuracy. Despite the theoretical potential of complex models, our findings demonstrate that simpler models like ARIMA and the Naive forecast often outperform them. This suggests that greater model complexity does not necessarily improve forecasting accuracy in the volatile crude oil market. Our study provides a critical perspective on the use of complex deep learning models in economic forecasting and emphasizes the importance of robustness and benchmarking for short-term oil price prediction