Congressional Vote Options

Numerous accounts reveal that congressional leaders often secure “hip‐pocket votes” or “if you need me” pledges from rank‐and‐file legislators. These are essentially options on votes. Leaders exercise sufficient options—pay legislators to convert to favorable votes—when those options will yield victory. Otherwise, they release the options. A model shows that this optimal strategy for leaders produces many small victories, few small losses, and losses that are, on average, larger than victories. We find precisely these patterns, hence strong evidence for vote options, in Congressional Quarterly key votes from 1975 through 2001 and in non‐key votes from the 106th Congress (1999–2000).     

CONTRACTORS' EXPERIENCE OF COMPULSORY COMPETITIVE TENDERING: A CASE STUDY OF CONTRACT CLEANERS IN THE NHS

Compulsory competitive tendering (CCT) has been an important instrument of Conservative government economic policy since 1979. Its effectiveness in generating cost-effective services depends on competition to supply the service in question.
The NHS domestic market is large and, prior to the introduction of CCT, promised to be profitable for contractors. Many contract cleaners with office cleaning experience entered. In the event the costs of entry were heavy, and the profit margins of established firms were reduced. When contracts have been awarded to firms, they tended to be to those with a track record. Many firms therefore withdrew; and the few that remained have profit margins in the NHS little different from those found elsewhere. Of more than by firms with a serious interest in entry, probably no more than a handful can have come out of the experience in net profit in the first seven years.
The experience of CCT in the market for NHS domestic services has shown that a degree of competition in the market can be achieved, arguably because of the presence of direct service organizations. Competition for this market, on the other hand, can be limited by the high costs of entry.     

Real Estate Transactions: Policy Considerations for Law, Technology and Globalization

This essay explores a number of issues related to intellectual property and technology in real estate transactions. It examines these issues with reference to differences in property law concepts in a global context, looking at both civil law and common law ideas, for instance. The essay also discusses the integration of technology into real-estate development projects and the infrastructure requirements for promoting real estate markets in countries with emerging and transitional economies. A key observation of the essay involves the need to think about property law questions in an integrated manner. It is no longer possible to think in a compartmentalized way regarding real property and intellectual property – in modern real estate transactions these areas are fully integrated.     

China's High Schoolers: Pro‐American Consumers or Nationalists?

Will China's authoritarian leaders succeed in building a future by erasing the past? Can the ideology of “nationalist consumerism” obliterate memory altogether? Will the Olympic applause drown out the weak and exiled witnesses of the Tiananmen crackdown? In this section we listen to a key Tiananmen student leader two decades on as well as check in with today's young elites in Beijing. A political leader from the reformist regime in 1989 calls for justice from house arrest and a young Chinese novelist wonders what kind of identity is possible without memory.