Design and implementation issues in Swedish individual pension accounts

Sweden's new multipillar pension system includes a system of mandatory fully funded individual accounts. The Swedish system offers contributors more than 600 fund options from a variety of private-sector fund managers. However, in the most recent rounds of fund choice, more than 90 percent of new labor market entrants have not made an active choice of funds and thus have ended up in a government-sponsored default fund. The Swedish system offers a number of lessons about implementing a mandatory individual account tier. Centralized administration keeps administrative costs down but requires considerable lead time. A very large number of fund options are likely to be offered unless strong entry barriers are in place. Engaging new labor market entrants in fund choice is likely to be difficult. A significant percentage of those making an active fund choice may choose funds that are very specialized and risky. Finally, special care must be devoted to designing a default fund and continual consumer communication.     

Nothing to Lose: An Insurance Company's Duty of Good Faith and Fair Dealing,Punitive Damages,and The Legacies of Campbell

This article explores the potential evisceration of the deterrence function of punitive damages, one of the only economic incentives that deters insurance companies from opportunistically breaching their insurance policies. Readers will gain an understanding of why large punitive damages awards are essential in the insurance coverage field and how such awards may implicate due process standards. The article explains the constitutional limitations set forth by the U.S. Supreme Court in imposing punitive damages, and provides a roadmap of how lower courts and practitioners are presently applying these rules.     

Correlations on radioimmunoassay, fluorescence polarization immunoassay, and enzyme immunoassay of cannabis metabolites with gas chromatography/mass spectrometry analysis of 11-nor-delta 9-tetrahydrocannabinol-9-carboxylic acid in urine specimens.

Results obtained from three commercial immunoassay kits, Abuscreen, TDx, and EMIT, commonly used for the initial test of urine cannabinoids (and metabolites) were correlated with the 11-nor-delta 9-tetrahydrocannabinol-9-carboxylic acid (9-THC-COOH) concentration as determined by GC/MS. Correlation coefficients obtained based on 26 (out of 1359 total sample population) highly relevant samples, are 0.601 and 0.438 for Abuscreen and TDx. Correlation coefficients obtained from a parallel study on a different set of 47 (out of 5070 total sample population) highly relevant specimens are 0.658 and 0.575 for Abuscreen and Emit. The immunoassay concentration levels, that correspond to the commonly used 15 ng/ml GC/MS cutoff value for 9-THC-COOH, as calculated from the regression equations are 82 ng/ml and 75 ng/ml for TDx and EMIT and 120 ng/ml and 72 ng/ml for Abuscreen manufactured at two different time periods. The difference of these calculated corresponding concentrations provides quantitative evidence of the reagent specificity differences.     

Popular representations of race: the news coverage of BiDil

The BiDil story offers an ideal opportunity to explore the nature and tone of media representations of race and genetics. For example, was a biological view of race emphasized? Or was the notion of race presented in a critical fashion?     

The case for public‐private partnerships in infrastructure

Abstract: Much of the public debate about public‐private partnerships (P3s) has occurred through the lens of those who either oppose or support this increasingly popular method of delivering public infrastructure assets. Despite some scepticism in the academic literature, an analysis of the key arguments for and against P3s concludes that the P3 model can successfully deliver public infrastructure goods and services, provided that certain key thresholds are met. Lessons learned from early experiments in P3s and from the experience of the newer government P3 procurement agencies suggest that P3s can provide value for money if risk is allocated to the party best able to manage it. An appropriate risk allocation requires that governments have the expertise to identify all of the relevant risks before entering into the partnership contract. Governments must also have the contract management skills to ensure that those risks are in fact borne by the private sector. To maintain public confidence in the P3 model, governments must live up to their own obligations of transparency and accountability and not succumb to private‐sector demands for confidentiality. The article recognizes that not all government goods and services can meet the threshold but that, if they do, it argues strongly for the efficiency and effectiveness of the P3 model. Sommaire: Une grande partie du débat public au sujet des partenariats entre le secteur public et le secteur privé (les P3) a eu lieu par l'entremise de ceux qui opposent ou soutiennent cette méthode de plus en plus populaire de livrer de l'infrastructure publique. En dépit d'un certain scepticisme émanant des documents d'universitaires, une analyse des principaux arguments en faveur des P3 et contre ceux‐ci conclut que les P3 peuvent livrer avec succès des produits et services d'infrastructure publique, à condition que certains seuils clés soient atteints. Les enseignements tirés des premières expériences de P3 et de l'expérience des plus récents organismes d'approvisionnement gouvernementaux P3 laissent entendre que les P3 peuvent apporter une optimisation des ressources si le risque est attribuéà la partie la plus apte à le gérer. Une bonne répartition du risque exige que les gouvernements aient l'expertise pour identifier tous les risques pertinents avant de signer le contrat de partenariat. Les gouvernements doivent aussi avoir les compétences en gestion de contrats nécessaires pour veiller à ce que les risques soient en fait assumés par le secteur privé. Pour maintenir la confiance du public dans le modèle de P3, les gouvernements doivent respecter leurs engagements de transparence et de reddition de comptes et ne pas céder aux exigences du secteur privé concernant la protection des renseignements personnels. L'article reconnaît que tous les produits et services gouvernementaux ne peuvent pas tous atteindre le seuil de conformités mais que, lorsqu'ils y parviennent, le modèle de P3 est alors hautement efficace et efficient.     

Free press and fair trial: The role of behavioral research

The growth of mass media has complicated the relatioship between the courts and the media. Free press and fair trial rights are kept in balance by the use of judicial restraints and remedies such asvoir dire, change of venue, and gag orders. This balance has shifted back and forth during the past two decades. Current case law and legal codes are inconsistent and provide insufficient guidance to judges in their use of restraints and remedies. Nor is there a body of empirical research on the impact of news coverage and juror behavior capable of informing the courts at this time. In this paper, we review and critically assess the empirical social science literature as it pertains to the legal issues involving free press and fair trial. We argue that carefully conducted empirical research could provide important information to the courts. We suggest research directions and methodological caveats to increase legal relevance and scientific validity.     

Business Representation in the UK Since 1979: the Case of Trade Associations

The article explores the impact of Conservative governments since 1979 on business representation. It concentrates on the trade association—the most common form of business organization in the UK but one which has been largely neglected in the discussion of business representation. The results of a major survey of trade associations conducted in 1994 are reported and their significance assessed in the light of three general propositions about the direction of business representation since 1979.