Recent Advances in Lending to the Poor with Asymmetric Information

Microfinance institutions have successfully extended unsecured small loans to poor and opaque borrowers at the bottom of the economic pyramid. This success is largely due to innovative financial contracts that impose joint liability and create dynamic incentives to mitigate the effects of asymmetric information. Given recent advances in microfinance contracts, there is a need to map the theoretical developments. This article aims to accomplish that by performing a critical literature survey of microlending contracts, focussing on joint liability and dynamic incentives, bringing out some of the deficiencies of contract-theoretic propositions that cannot effectively account for the social mission of microfinance.     

Narendra Modi between Hindutva and subnationalism: The Gujarati asmita of a Hindu Hriday Samrat

ABSTRACT

After the 2002 pogrom, Narendra Modi, the Chief Minister of Gujarat, shifted his political repertoire from that of a Hindu Hriday Samrat (King of Hindus’ heart) to that of development and Gujaratiness. He claimed that he was a development man (Vikas Purush) and that he represented the 60 million Gujaratis as an aam admi (common man). He projected himself as an embodiment of their identity—asmita. This populist repertoire, which was explicitly articulated during the Sadbhavna mission in 2012, is in tune with the general trend of Indian politics where most of the Chief Ministers claim to epitomize one subnationalism. In the case of Narendra Modi, however, this regional identity was defined in religious terms and reflected a banalization of Hindutva, an original process that was more likely to happen in Gujarat because of the traditional definition of the state’s identity.     

Short term impact of Tribulus terrestris intake on doping control analysis of endogenous steroids

Tribulus terrestris is a nutritional supplement highly debated regarding its physiological and actual effects on the organism. The main claimed effect is an increase of testosterone anabolic and androgenic action through the activation of endogenous testosterone production. Even if this biological pathway is not entirely proven, T. terrestris is regularly used by athletes. Recently, the analysis of two female urine samples by GC/C/IRMS (gas chromatography/combustion/isotope-ratio-mass-spectrometry) conclusively revealed the administration of exogenous testosterone or its precursors, even if the testosterone glucuronide/epitestosterone glucuronide (T/E) ratio and steroid marker concentrations were below the cut-off values defined by World Anti-Doping Agency (WADA). To argue against this adverse analytical finding, the athletes recognized having used T. terrestris in their diet. In order to test this hypothesis, two female volunteers ingested 500 mg of T. terrestris, three times a day and for two consecutive days. All spot urines were collected during 48 h after the first intake. The ¹³C/¹²C ratio of ketosteroids was determined by GC/C/IRMS, the T/E ratio and DHEA concentrations were measured by GC/MS and LH concentrations by radioimmunoassay. None of these parameters revealed a significant variation or increased above the WADA cut-off limits. Hence, the short-term treatment with T. terrestris showed no impact on the endogenous testosterone metabolism of the two subjects.     

India and Pakistan: Interpreting the Divergence of Two Political Trajectories

While suggestions were made in the 1990s that Pakistani and Indian political trajectories were converging as Pakistan took steps towards democratisation and India showed increasing signs of authoritarian centralisation, the following analysis offers a more historically sensitive view that suggests the opposite is true. In over fifty years of independence, institutional and societal structures have worked to create the political systems that we see on the Indian subcontinent today, and have helped define the potentially explosive Indo-Pakistan relationship so threatening in today's world. By analysing the ways in which different historical legacies act upon the current political cultures in both India and Pakistan, we engage in a fuller understanding of the contributing factors to the status quo in each. Further, historical analysis may shed some light on the expected trajectories of these two countries as they attempt to reinvent themselves at the beginning of the twenty-first century.     

Influence des réseaux d'action publique sur le changement politique: l'exemple de l'écologisation des politiques suisses et valaisannes du tourisme,des transports et de l'agriculture

Nombreux sont les politologues qui considèrent que l'approche des réseaux d'action publique (policy networks) est essentiellement statique et de ce fait incapable de rendre compte du changement politique. Dans ce contexte, l'article s'interroge sur la contribution heuristique du concept de réseau dans l'explication du changement politique compris ici comme (re)formulation de politiques publiques. Sur la base des résultats d'une recherche empirique portant sur l'écologisation des politiques suisses et valaisannes du tourisme, des transports et de l'agriculture, l'auteur arrive à la conclusion que le concept de réseau peine à expliquer les origines du changement politique, mais qu'il a par contre une valeur heuristique certaine pour comprendre le contenu de ce changement. Il reste néanmoins qu'une théorie du processus décisionnel basée uniquement sur une approche de type réseau d'action publique est insuffisante et a besoin des apports d'autres approches si elle entend rendre compte de toute la complexité du changement politique.     

Closed Distribution Networks and E-commerce: Antitrust Issues

Closed distribution networks (ie exclusive or selective distribution networks) have to integrate the development of the internet, particularly in sectors such as fine fragrances or new cars sales. Producers (ie Chanel or Volkswagen) cannot ignore that their products are potentially available on the web. Considering the relationships between producers and their off-line dealers, the question is to know if these dealers could be authorized to resell the products on their own website. In each sector, producers have to adapt their distribution contracts for e-commerce. In a previous paper (published in the Journal of Information, Law and Technology , 2000, No 2) we conclude that electronic points of sales must respect criteria used for physical points of sales, but with some adaptations. The major issue for producers is to build legally secured contracts in order to manage both off-line and on-line distribution networks. But the adaptation of traditional distribution contracts cannot ignore the antitrust framework, especially in the European context, since the new Block Exemption Regulation No 2790/99 on Vertical Restraints has been published. Producers' strategies within the European Union must take into account potential competition restraints implied by their contract policy. When drafting their contracts for e-commerce opportunities, producers have to deal with the legal standing of their networks within the European antitrust law. In this paper, our purpose is to analyze implications of the on-line distribution strategy that could be drawn up by a producer from the European competition law viewpoint. We determine opportunities and constraints presented by the Guidelines from a producer's point of view, and we examine whether European competition law does offer any interesting 'room for manoeuvre' for producers who develop closed distribution networks. We also identify what kind of elements could lead to a withdrawal of the benefit of the Block Exemption Regulation No 2790/99; we show that this withdrawal could arise from a market share evaluation, or from the disproportion between competition restraints (stemming from the distribution contract clauses) and the necessity of an economic progress within the European Commission (EC).     

Multimodal biometrics for identity documents (MBioID)

The MBioID initiative has been set up to address the following germane question: What and how biometric technologies could be deployed in identity documents in the foreseeable future? This research effort proposes to look at current and future practices and systems of establishing and using biometric identity documents (IDs) and evaluate their effectiveness in large-scale developments. The first objective of the MBioID project is to present a review document establishing the current state-of-the-art related to the use of multimodal biometrics in an IDs application. This research report gives the main definitions, properties and the framework of use related to biometrics, an overview of the main standards developed in the biometric industry and standardisation organisations to ensure interoperability, as well as some of the legal framework and the issues associated to biometrics such as privacy and personal data protection. The state-of-the-art in terms of technological development is also summarised for a range of single biometric modalities (2D and 3D face, fingerprint, iris, on-line signature and speech), chosen according to ICAO recommendations and availabilities, and for various multimodal approaches. This paper gives a summary of the main elements of that report. The second objective of the MBioID project is to propose relevant acquisition and evaluation protocols for a large-scale deployment of biometric IDs. Combined with the protocols, a multimodal database will be acquired in a realistic way, in order to be as close as possible to a real biometric IDs deployment. In this paper, the issues and solutions related to the acquisition setup are briefly presented.     

Informing the judgments of fingerprint analysts using quality metric and statistical assessment tools

The aim of this research was to evaluate how fingerprint analysts would incorporate information from newly developed tools into their decision making processes. Specifically, we assessed effects using the following: (1) a quality tool to aid in the assessment of the clarity of the friction ridge details, (2) a statistical tool to provide likelihood ratios representing the strength of the corresponding features between compared fingerprints, and (3) consensus information from a group of trained fingerprint experts. The measured variables for the effect on examiner performance were the accuracy and reproducibility of the conclusions against the ground truth (including the impact on error rates) and the analyst accuracy and variation for feature selection and comparison. The results showed that participants using the consensus information from other fingerprint experts demonstrated more consistency and accuracy in minutiae selection. They also demonstrated higher accuracy, sensitivity, and specificity in the decisions reported. The quality tool also affected minutiae selection (which, in turn, had limited influence on the reported decisions); the statistical tool did not appear to influence the reported decisions.     

Computation of likelihood ratios in fingerprint identification for configurations of three minutiae

Recent challenges to fingerprint evidence have brought forward the need for peer-reviewed scientific publications to support the evidential value assessment of fingerprint. This paper proposes some research directions to gather statistical knowledge of the within-source and between-sources variability of configurations of three minutiae on fingermarks and fingerprints. This paper proposes the use of the likelihood ratio (LR) approach to assess the value of fingerprint evidence. The model explores the statistical contribution of configurations of three minutiae using Tippett plots and related measures to assess the quality of the system. Features vectors used for statistical analysis have been obtained following a preprocessing step based on Gabor filtering and image processing to extract minutia position, type, and direction. Spatial relationships have been coded using Delaunay triangulation. The metric, used to assess similarity between two feature vectors is based on an Euclidean distance measure. The within-source variability has been estimated using a sample of 216 fingerprints from four fingers (two donors). Between-sources variability takes advantage of a database of 818 ulnar loops from randomly selected males. The results show that the data-driven approach adopted here is robust. The magnitude of LRs obtained under the prosecution and defense propositions stresses upon the major evidential contribution that small portions of fingermark, containing three minutiae, can provide regardless of its position on the general pattern.     

Comparison of ethanol concentrations in right cardiac blood, left cardiac blood and peripheral blood in a series of 30 cases

The aim of this study was to compare ethanol concentrations in right cardiac blood, left cardiac blood and peripheral blood. Samples were taken from a series of 30 medicolegal autopsies. Ethanol was measured by headspace GC-FID. In each case, the degree of putrefaction, chest or abdominal injury, and/or regurgitation of gastric contents into the airways were noted. Our results show that there exists in certain cases a marked increase in ethanol concentration in left cardiac blood compared with right cardiac blood and peripheral blood. In these cases, we observed (i) a high concentration of ethanol in the gastric contents and (ii) regurgitation of gastric contents into the airways. The authors discuss the post-mortem redistribution mechanisms which could explain these results and stress the value of sampling right cardiac blood at autopsy.