What do economic simulations tell us? Recent mergers in the iron ore industry

This paper investigates the European Commission's decision to allow a merger between two Brazilian iron ore mining companies, CVRD and Caemi, using data on the Direct Reduced Iron pellet market. By using a simulation model, we can directly simulate the total welfare effects from the merger and hence evaluate the merger from a new perspective. The results from our simulations suggest that the welfare effects are negative from the merger between CVRD and Caemi, which supports the conclusion drawn by the European Commission decision. By performing different simulations between hypothetical merger candidates, our results show that only mergers between small candidates have the potential to be welfare enhancing.     

NUTRIENT LOADING ASSESSMENT IN THE ILLINOIS RIVER USING A SYNTHETIC APPROACH1

ABSTRACT: A synthetic relationship is developed between nutrient concentrations and discharge rates at two river gauging sites in the Illinois River Basin. Analysis is performed on data collected by the U.S. Geological Survey (USGS) on nutrients in 1990 through 1997 and 1999 and on discharge rates in 1988 through 1997 and 1999. The Illinois River Basin is in western Arkansas and northeastern Oklahoma and is designated as an Oklahoma Scenic River. Consistently high nutrient concentrations in the river and receiving water bodies conflict with recreational water use, leading to intense stakeholder debate on how best to manage water quality. Results show that the majority of annual phosphorus (P) loading is transported by direct runoff, with high concentrations transported by high discharge rates and low concentrations by low discharge rates. A synthetic relationship is derived and used to generate daily phosphorus concentrations, laying the foundation for analysis of annual loading and evaluation of alternative management practices. Total nitrogen (N) concentration does not have as clear a relationship with discharge. Using a simple regression relationship, annual P loadings are estimated as having a root mean squared error (RMSE) of 39.8 t/yr and 31.9 t/yr and mean absolute percentage errors of 19 percent and 28 percent at Watts and Tahlequah, respectively. P is the limiting nutrient over the full range of discharges. Given that the majority of P is derived from Arkansas, management practices that control P would have the most benefit if applied on the Arkansas side of the border.     

INCREASED BASEFLOW IN IOWA OVER THE SECOND HALF OF THE 20TH CENTURY1

ABSTRACT: Historical trends in annual discharge characteristics were evaluated for 11 gauging stations located throughout Iowa. Discharge records from nine eight‐digit hydrologic unit code (HUC‐8) watersheds were examined for the period 1940 to 2000, whereas data for two larger river systems (Cedar and Des Moines Rivers) were examined for a longer period of record (1903 to 2000). In nearly all watersheds evaluated, annual base flow, annual minimum flow, and the annual base flow percentage significantly increased over time. Some rivers also exhibited increasing trends in total annual discharge, whereas only the Maquoketa River had significantly decreased annual maximum flows. Regression of stream discharge versus precipitation indicated that more precipitation is being routed into streams as base flow than as storm flow in the second half of the 20th Century. Reasons for the observed stream flow trends are hypothesized to include improved conservation practices, greater artificial drainage, increasing row crop production, and channel incision. Each of these reasons is consistent with the observed trends, and all are likely responsible to some degree in most watersheds.     

公司管理:内部控制与风险管理

由于国际市场的萎缩,公司的业务领域正日益全球化,公司应该按照国际标准,在世界范围内审查其行为表现。贸易呈现多样化及国际化,内部控制战略更需要健全。公司自成立之日起,一直致力于规避风险。风险是商业的有机组成部分,许多人也许认为风险越大,则回报越多。然而,从现代意义上来讲,需要确保组织对经济、社会或者环境的影响在公司的控制之下,从而确保为公司股东长期提供利益的增长。建立一个清晰、明了的风险战略对公司而言至关重要。许多公司已经采用了管理体系标准,并意识到这些标准将有助于利用已经构建的方法对优先权冲突进行管理。公…     

Annual and Diurnal Wind Patterns in the City of São Paulo

The major topographic, mesoscale, and urban influences on the wind patterns of the City of São Paulo are characterized using one year of surface wind velocity data observed at 11 surface stations within its urban limits. The data was used to study the diurnal and annual variations of wind velocity and horizontal wind divergence within the city. Results showed that the circulation over the investigated area is dominated by three major factors: sea breeze; mountain-valley circulations; and urban effects, such as roughness, building-barrier, and urban heat island. The sea breeze was found to be the dominant feature of the monthly-averaged diurnal variation of São Paulo surface winds during the eight warmest months of the year. The sea breeze front induces a velocity minimum at the time of its passage and a post-frontal afternoon velocity maximum. Mountain-valley thermal effects on the flow can be seen in the temporal divergence/convergence patterns. These thermal effects tend to be more important during colder months, at night, and when the wind velocities are low. Nighttime downslope convergent flows are present over the city during winter and spring and daytime upslope divergent flows are present over the city during summer months.     

Occurence and Distribution of Polycyclic Aromatic Hydrocarbons in Ankara Precipitation

Urban atmospheric environment contains many trace organic pollutants that are related to the incomplete fuel combustion in domestic heating, industrial plants and automobile traffic. Removal of these pollutants from the atmosphere takes place through wet and dry deposition as well as chemical transformations. In this study, concentrations of polycyclic aromatic hydrocarbons (PAHs) in wet deposition samples were determined at an urban site of Turkey. Wet and dry deposition samples were collected using Andersen Rain Sampler. The sampler was modified accordingly for the collection of organic pollutants. Collected samples were preconcentrated by using solid phase extraction (SPE) disks and consecutively analyzed by Gas Chromatography-Mass Spectrometry (GC-MS). Among the 13 compounds quantified in this study, anthracene, fluoranthene, and pyrene were found more frequently and at elevated concentrations (202, 271 and 260 ng L^-1 mean concentrations, respectively).Concentrations of PAHs were found to be high in winter period.     

INTEGRATING HUMANS IN ECOSYSTEM MANAGEMENT USING MULTI‐CRITERIA DECISION MAKING1

ABSTRACT: The Ecosystem Management (EM) process belongs to the category of Multi‐Criteria Decision Making (MCDM) problems. It requires appropriate decision support systems (DSS) where “all interested people” would be involved in the decision making process. Environmental values critical to EM, such as the biological diversity, health, productivity and sustainability, have to be studied, and play an important role in modeling the ecosystem functions; human values and preferences also influence decision making. Public participation in decision and policy making is one of the elements that differentiate EM from the traditional methods of management. Here, a methodology is presented on how to quantify human preferences in EM decision making. The case study of the National Park of River Nestos Delta and Lakes Vistonida and Ismarida in Greece, presented as an application of this methodology, shows that the direct involvement of the public, the quantification of its preferences and the decision maker's attitude provide a strong tool to the EM decision making process. Public preferences have been given certain weights and three MCDM methods, namely, the Expected Utility Method, Compromise Programming and the Analytic Hierarchy Process, have been used to select alternative management solutions that lead to the best configuration of the ecosystem and are also socially acceptable.     

GROUND WATER NITRATE REDUCTION IN GIANT CANE AND FOREST RIPARIAN BUFFER ZONES1

ABSTRACT: Ground water contamination by excess nitrate leaching in row‐crop fields is an important issue in intensive agricultural areas of the United States and abroad. Giant cane and forest riparian buffer zones were monitored to determine each cover type's ability to reduce ground water nitrate concentrations. Ground water was sampled at varying distances from the field edge to determine an effective width for maximum nitrate attenuation. Ground water samples were analyzed for nitrate concentrations as well as chloride concentrations, which were used as a conservative ion to assess dilution or concentration effects within the riparian zone. Significant nitrate reductions occurred in both the cane and the forest riparian buffer zones within the first 3.3 m, a relatively narrow width. In this first 3.3 m, the cane and forest buffer reduced ground water nitrate levels by 90 percent and 61 percent, respectively. Approximately 40 percent of the observed 99 percent nitrate reduction over the 10 m cane buffer could be attributed to dilution by upwelling ground water. Neither ground water dilution nor concentration was observed in the forest buffer. The ground water nitrate attenuation capabilities of the cane and forest riparian zones were not statistically different. During the spring, both plant assimilation and denitrification were probably important nitrate loss mechanisms, while in the summer nitrate was more likely lost via denitrification since the water table dropped below the rooting zone.     

Paradise Threatened: Land Use and Erosion on St. John, US Virgin Islands

2 /yr, respectively. Geomorphic evidence indicates that plantation agriculture during the 18th and 19th centuries did not cause severe erosion. Since about 1950 there has been rapid growth in roads and development due to increasing tourism and second-home development. Our field investigations identified the approximately 50 km of unpaved roads as the primary source of anthropogenic sediment. Field measurements of the road network in two catchments led to the development of a vector-based GIS model to predict road surface erosion and sediment delivery. We estimate that road erosion has caused at least a fourfold increase in island-wide sediment yields and that current sedimentation rates are unprecedented. Paving the dirt roads and implementing standard sediment control practices can greatly reduce current sediment yields and possible adverse effects on the marine ecosystems surrounding St. John.