A note on reverse auctions

Reverse auctions are a new type of auction which has recently spread over the internet to sell a large variety of goods, from electronics to airline tickets. The objective of this note is to illustrate how a reverse auction works, compare it to the other existing auctions and discuss the legal issues that may arise.     

Private regulatory capture via harmonization: An analysis of global retailer regulatory intermediaries

Studies using the Regulatory–Intermediary–Target (RIT) framework have examined a variety of forms of regulatory capture, including how targets capture intermediaries (T?I) and how intermediaries capture regulators (I?R). Little attention has been paid to why and how regulators themselves might engage in capture. Yet such a scenario is likely in transnational governance settings characterized by regulatory competition and conflict, as well as power differentials between different types of private regulators (non‐governmental organizations, multinational corporations, and business associations). This paper elucidates why and how a private regulator might capture another private regulator via a regulatory intermediary: R1?I?R2. Drawing on interview and archival data, I examine three industry‐driven regulatory intermediaries created to harmonize private labor codes of conduct and ethical audit processes. These are founded and governed by a small group of retail trade associations and global retailers who also fulfill the role of private regulators (R1). My analysis reveals that the creation of these intermediaries is driven by global retailers’ reliance on standardization, low transaction costs, and regulatory harmonization across all aspects of their operations. It further reveals how the harmonization platforms are designed to leverage global retailers’ market power and evolve from regulatory intermediaries into de facto regulators that supplant existing private regulators (R2), and thereby capture transnational governance of consumer product supply chains. The article concludes by discussing contributions, implications, and avenues for future research.     

Legitimacy of Inequality in a Highly Unequal Context: Evidence from the Chilean Case

Economic inequality is usually assumed to be a threat to social cohesion and democracy. Nevertheless, this opposition of inequality and democracy is based on further assumptions such as (a) that people perceive economic inequality accurately, and (b) that, by and large they consider inequality unjust. Research into distributive issues has not found consistent support for neither of these assumptions. Quite the contrary, empirical evidence indicates that economic inequality is widely misperceived and that inequality is to some extent considered legitimate. So far most of the empirical evidence in the area of legitimacy comes from experimental studies in the developed world. The present research aims at widening the scope of legitimacy studies by focusing on Chile as a case country, one of the societies with the highest economic inequality worldwide, guided by the question to what extent is economic inequality considered legitimate in a context of high economic inequality? In addressing this question, and based on previous evidence, the article proposes a way to evaluate (a) the legitimacy of inequality at a country level via survey research, and (b) the role of inequality perception and justice ideologies in the justification of economic inequality. The data to be analyzed is the public opinion survey International Social Justice Project (ISJP), implemented in Chile in the year 2007 (n = 890). Multivariate analysis results reveal signs of legitimacy of inequality in Chile, opening a series of issues regarding the acceptance and stability of unequal distributions.     

The simple economics of class action: private provision of club and public goods

This article uses economic categories to show how the reorganisation of civil procedure in the case of class action is not merely aimed at providing a more efficient litigation technology, as hierarchies (and company law) might do for other productive activities, but that it also serves to create a well defined economic organization ultimately aimed at producing a set of goods, first and foremost among which are justice and efficiency. Class action has the potential to recreate, in the judicial domain, the same effects that individual interests and motivations, governed by the perfect competition paradigm, bring to the market. Moreover, through economic analysis it is possible to rediscover not only the productive function of this legal machinery, but also that partial compensation of victims and large profits for the class counsel, far from being a side-effect, are actually a necessary condition for reallocation of the costs and risks associated with the legal action.     

Identification of gunshot residues in fabric targets using sector field inductively coupled plasma mass spectrometry technique and ternary graphs

During criminal investigations involving firearms, the detection of gunshot residues (GSRs) is one of the most important evidences. In the present study, a new method to identify trace evidences of GSRs, deposited around the bullet entrance hole, in different types of fabrics used as targets, is described. The experiments were carried out using a 0.38-inch caliber revolver, and 9-mm and 0.40-inch caliber pistols. Testimonies of 2.25 cm(2) of the fabrics were cut around the bullet entrance and digested with 10% nitric acid. Antimony, barium, and lead were analyzed in the remaining solution using a sector field inductively coupled plasma mass spectrometer. The concentrations of the elements were detected at levels up to few microgram per square centimeter. The use of ternary graphics allowed us to identify specific patterns of distribution for blank samples and the clear distinction between the revolver and pistols used.