Court Awards of Damages for Loss of Future Earnings: An Empirical Study and an Alternative Method of Calculation

This article examines the effect upon damages for personal injury of methods used in the United States of America to calculate loss of future earnings. The work of lawyers is examined from the perspective of labour economists. The damages calculated by using these alternative methods are compared with those actually awarded in over a hundred cases determined by courts in England and Wales. This interdisciplinary and comparative study reveals that the tort system fails to satisfy one of its main objectives in that it does not provide recipients of damages with 'full' compensation.     

Evolving Market Efficiency with an Application to Some Bulgarian Shares

With new technically advanced methods and computers at our disposal, the efficient market hypothesis is once again being debated. At the same time, we are witnessing an unprecedented growth in both existing and new financial markets. These new markets are often in economies which have just recently embraced free market economics; we term these stock markets infant markets. Such stock markets are obviously not efficient in allocating the supply of savings to productive capital. We do not test whether or not these infant markets are informationally efficient, but instead examine whether and how they are becoming more efficient. We propose modelling the excess returns of individual securities using a multi-factor model with time-varying coefficients and generalised auto-regressive conditional heteroskedastic (GARCH) errors. If the markets are becoming more informationally efficient or the agents are learning, we would expect this to manifest itself as the time-varying coefficients becoming more stable as time increases. We test our model using data on four Bulgarian shares. First, we estimate an AR(2) model and a GARCH-M(1,1) model for the shares. Then, we estimated our AR(2) model with time varying coefficients and GARCH type errors. We find varying levels of efficiency and varying speeds of movement towards efficiency within our sample of four shares.     

The decision to leave an abusive relationship: The testing of an alternative methodological approach

Most studies that consider the factors influencing the decision to leave an abusive relationship rely on retrospective, self-report data. In addition to the biased samples that are frequently obtained in such investigations, the methodological shortcomings of survey research limit its explanatory power, particularly when applied to such sensitive topics as family violence. This report introduces an alternative method for studying the decision to leave an abusive relationship. Forty-five men and 68 women were studied using an experimental computer game of an abuse-like relationship. The tendency to leave this relationship was measured under four differing conditions of severity and frequency of abuse. A logit analysis revealed that the frequency of abuse was more consequential to women's decisions to leave, while severity of abuse was more salient for men. In addition, the hypothesized model, including frequency of abuse, severity of abuse, and locus of control, fits well for women but not for men. The implications of these findings, as well as the validity and future application of experimental games, are discussed.     

Symposium: Policy analysis for congress. Policy analysis for congress: Lengthening the time horizon

Policy analysis for the Congress is a timely subject. Several policy initiatives have emerged recently from the “first branch.” Others have demonstrated an independent capacity for analysis that is impressive by historical standards. This article introduces a practitioner symposium of three related works on policy analysis for Congress, with appropriate commentary by a distinguished veteran. It argues that because timing is crucial in the congressional policy process, anticipation and advance preparation are central to the effective use of analysis. The other articles illustrate the stages of advance preparation—of the policy analyst, the congressional environment, and the Member for voting—in the form of case studies.     

Where and When to Spank: A Comparison Between U.S. and Japanese College Students

Although physical punishment has been studied for decades, there are gaps in the literature regarding frequently used form, context, and cross cultural differences. A comparison was made using 227 college students in the United States and Japan, who were presented with four scenarios and surveyed regarding attitudes toward physical punishment, perceptions of appropriate discipline methods, and past experience with physical punishment. Japanese and U.S. respondents reported similar personal experience with physical punishment (Japanese 86%, U.S. 91%). However, U.S. respondents reported a higher likelihood of being hit with an object than did Japanese respondents. For U.S. respondents, the bottom and the hand were the top two sites on the body used for physical punishment, whereas the head and the face were the top two places for the Japanese sample. Unlike U.S. respondents, type of child misbehavior was found to have an impact on Japanese respondents’ views on the appropriate discipline method.     

ECJ allows service marks for retail trade and tells Nestle it can 'HAVE A BREAK' without having a Kit Kat

In response to a reference from the UK Court of Appeal, undertrade mark Directive 89/104/EEC of 21 December 1988, the ECJdetermined that distinctive character may be acquired throughuse as part of an already registered trade mark.     

Assessing Civil-Military Relations and the January 6th Capitol Insurrection

The events of January 6, 2021, when violent rioters attacked the Capitol building in Washington in order to disrupt validation of the 2020 presidential election, forced an unprecedented reckoning with the state of American politics. Members of Congress struggled to account for the rhetoric that gave rise to the event; law enforcement grappled with the challenge of holding accountable those who perpetrated the violence; and journalistic outlets wrestled with reporting a complex web of conspiracy theories and disinformation that gave rise to the insurrection. But for senior military leaders, the question was how to explain the troubling presence of active duty servicemembers and veterans in the first attack on the American seat of government in two centuries. The result is a profound and urgent discussion in U.S. civil-military relations.