The Value of Waiting in Lawmaking

Political actors and legislative bodies often invoke net present value calculations to support proposed legislative change. This paper explores the idea that adopting a law is like investing in a productive asset to identify possible misleading applications of net present value calculations. Investment involves incurring a present cost in the expectation of future benefits. Legal systems can be regarded as making investment decisions when incurring present lawmaking costs that will generate benefits over time. Lawmaking investments share, in varying degrees, three important attributes with other investment decisions. First, lawmaking costs cannot be recovered if the enacted rules prove to be ineffective or undesirable at a later time. That is, lawmaking investments are partially or completely irreversible. Second, there is often uncertainty over the future benefits of the legislation. Chosen rules may prove ineffective or changes in the social or economic circumstances may render them obsolete over time. Third, like any investment decision, timing is an issue for lawmakers to determine: lawmaking innovation or revision of current rules can be postponed. Often delays in such investment decisions come at a cost, given the forgone benefits of the investment in the immediate future. This paper focuses on the value of waiting in lawmaking, illustrating the interaction among the above factors in identifying the conditions that determine the optimal timing of legal intervention. The basic model is followed by two extensions. In the first extension, we allow for some learning and informational benefit from the immediate implementation of the new law. In a second extension, we allow for political time preference to affect the lawmaking choice.     

Private property and social costs

This article discusses the widely cherished theme of property rights and externalities, surveying the legal and economic literature that developed around Coase's 1960 article, The Problem of Social Cost. It identifies and appraises the most notable attacks to the Coase theorem and offers an insightful examination of the state of legal and economic scholarship in the wake of Coase's postulate. In revisiting familiar passages, this article shows the pervasive methodological implications of the Coasian approach to property rights and examines the normative and practical significance of the Coasian analysis in various situations of alleged market failure.     

The cost of delegated control: vicarious liability, secondary liability and mandatory insurance

Vicarious liability, secondary liability and mandatory insurance are three systems for attaining judgment-proof or disappearing injurers’ precaution through the direct control of a second party (the vicariously liable principal, the secondary liable party, or the insurer). In this way, the legal system delegates control over some injurers to private entities. Such mechanisms generate monitoring costs. In this paper, we consider who bears the cost of such monitoring, and the effect thereof on the equilibrium level of precautions under different liability rules. We use these findings to explain some of the patterns in the coupling of substantive standards of liability and legal regimes of delegated control.     

Rules and Flexibility in Public Budgeting: The Case of Budget Modernisation in Australia

This paper explores the features of public budgeting that make it resistant to efforts to balance central oversight and situational flexibility. Its aim is to help explain why systemic efforts at budget modernisation in the name of ‘devolution’ may have failed to deliver expanded budget flexibility. After defining flexibility, and briefly surveying how it can be inhibited by budget practices using the example of collaboration, the paper applies a taxonomy of general ‘budget rules’ to illustrate the trade‐offs between control and flexibility. It uses an analysis of budget reform in the Australian federal government over the last 30 years to identify a key set of ‘legacy reforms’ – all intended primarily to enable budget flexibility – to show how their design and redesign were purposed as modification to the general rules, and how, ultimately, they were constrained by them.     

The Internationalization of Network Industries: A Comparative Policy Analysis of Italian Railways and Utilities

Internationalization constitutes a dominant strategy for former public enterprises, as they enter emerging markets in other countries. This article provides a firm-level analysis of the drivers of (and obstacles to) internationalization. It focuses primarily on the experience of Italian companies in the railway and utility sectors by comparing and contrasting them with major European companies as well as among themselves. The article shows the diverse degrees of internationalization of Italian companies and takes into account possible explanations, showing how the policy and regulatory environment do interact with the configurations of actors’ preferences in shaping companies’ strategies.     

Determination of Human Chorionic Gonadotropin in Postmortem Samples in Ectopic Pregnancies

Increased human chorionic gonadotropin levels (HCG) can be detected in femoral blood, bile, and vitreous humor collected during autopsy of pregnant women using a standard kit designed for living patients. In the study herein, the concentrations of HCG were measured in postmortem serum, vitreous, bile, cerebrospinal, and pericardial fluids in 4 cases of fatal ectopic pregnancy and 40 controls using a quantitative electrochemiluminescence immunoassay designed for living patients. No false‐negative cases were identified in any of the analyzed samples in any of the ectopic pregnancy cases. No correlations were found between total HCG levels in postmortem serum and the other tested specimens. The results of this study would suggest that higher HCG in bile, vitreous, pericardial, and cerebrospinal fluids may confirm the existence of ectopic pregnancy and therefore identify other situations in which this hormone is increased, although gestational age cannot be reliably estimated using these values.     

Death from Barotrauma Due to Compressed Air: A Medico‐legal Analysis

Lesions of the digestive tract due to barotrauma resulting from compressed air application are not common, are rarely lethal, and largely affect the sigmoid and descending colon. Moreover, their pathogenic mechanism is a topic of discussion because these lesions have multiple characteristics. Here, the authors describe an autoptic case of death from lesions of the ascending and transverse segments, with perforations and bleeding suffusions as well as ischemic areas covered the colonic wall that was extremely thinned, congested, and hemorrhagic, with considerable flattening leading to disappearance of the mucosal folds and with numerous petechial hemorrhages. The pathological framework of lung congestion made it possible to identify the mechanism responsible for this death as depletion of the heart's pumping function, which contributed significantly to the acute respiratory failure due to respiratory distress as well as to reduced mobility of the diaphragm due to intestinal distension. Acute heart failure played an important role in this death.     

A Country Once Great? Asylum Seekers,Historical Imagination,and the Moral Privilege of Whiteness

ABSTRACT

The current public debate on asylum seekers arriving to Australia by boat is profoundly emotional and divisive. Its emotional nature must not only be considered in the present context but also understood from a historical perspective. This article argues that often the asylum seeker debate has been structured as an emotional dispute about the morality of the Australian nation; and that one of the main functions of such a dispute is to reinstate the moral privilege of whiteness. This has weakened the ability of human rights activists to advocate for the ending of current policies, and has instead reinforced an insular, exclusionary and rhetorical understanding of Australian history. On both sides of the debate, historical amnesia and the rhetorical celebration of the past have at times worked hand in hand with allegedly pragmatic approaches to the “boat people” crisis. Yet it is only in addressing the repressed and haunting memories of the past that Australians might find critical and creative antidotes to the merciless dictates of pragmatic politics.     

Determination of vehicle speed from recorded video using the open-source software Kinovea

Video devices of different kind often record traffic accidents, including vehicle-pedestrian collisions and hit-and-run accidents. In these cases, the vehicle speed is valuable information because it can assist the investigators in an accident reconstruction. This paper examines the use of Kinovea, an open-source video annotation tool designed for sport analysis, to estimate vehicle speed in forensic videos. Kinovea does not require a complex methodology, and it can be used to make the calculation easily. A series of vehicle driving experiments using an appropriately calibrated speed radar system (so called Scout Speed) were carried out, and measurements were compared with the estimated speed. In controlled conditions, the comparison of Scout reference speed and calculated average vehicle speed by means of Kinovea found an average difference of 0.43 km/h, with a margin of error of ±0.64 km/h. In addition, further preliminary tests were carried out to check the reliability of the measurements under lower resolution conditions. Also, in these cases the calculations were in line with the ground truth. Therefore, in the tested conditions, Kinovea demonstrated to be an easy and reliable tool available for forensic video examiners. Further tests need to be conducted in order to address the applicability of the measurement technique with true CCTV/surveillance video recordings.