The flypaper effect literature dates back three decades. It is overwhelmingly neoclassical in approach, attempting to improve the median voter demand model and/or temper it with public choice ...supply-side perspectives. Whilst this approach provided valuable early substantial analytical insights, more recent papers seem to have contributed only marginally to an understanding of the flypaper effect, if indeed it exists at all. Hence, as well as providing a long-overdue comprehensive review of the literature on the flypaper effect, this paper identifies more productive avenues for further research.
One of the more challenging, yet easily overlooked, aspects of the analysis of microarrays is how to normalize arrays so that comparisons can be made across arrays. Most studies that utilize ...microarrays to detect differential gene expression between samples find the data only enable one to conclude that a handful of genes are differentially expressed. The basic idea here is to use the genes that are not differentially expressed to conduct the normalization. Of course, because one cannot determine which genes are differentially expressed until the normalization is conducted, this is a nontrivial problem. Here a general framework and computational method (using the Gibbs sampler) is devised to allow for such normalization. We apply the method to a gene expression experiment aimed at furthering our understanding of Porcine reproductive and respiratory syndrome virus, a major source of economic loss in the swine industry.
The English Court of Appeal is currently faced with three analytically distinct approaches to the question of when one party owes another a duty of care in respect of her economic interests, all of ...which bear the authority of the House of Lords. Unable to choose between them, it has recently adopted a fourth approach combining which combines them, in the apparent belief that the combination will eradicate any individual deficiencies. Against the background of a recent case, the author argues that this is a holding strategy at best and methodologically deficient. He also challenges the continuing lip-service paid by courts to models of liability based upon ‘assumptions of responsibility,’ examining and criticising the causes of their persistence in the law in the face of widespread academic criticism. Instead, the author argues, the House of Lords should now clearly endorse a single reasoning strategy to economic loss cases based on the three-stage approach in Caparo Industries v Dickman. Properly understood, this approach offers the best prospect of facilitating consistent and transparent decision-making in the longer term.
This paper introduces economic concepts and theory pertaining to public policy issues and concerns about pollution in marine environments. Many of these concepts and theories are unfamiliar to ...individuals and professionals outside the field of economics, such as biologists, ecologists, environmental lawyers, and even public policymakers. Yet many of these individuals observe economics in action, often for the first time, within a public policy arena. Exposure and a better understanding of the concepts and ideas in economics that are particularly relevant for public policies can help to achieve efficiencies in the form of better designed policies, and help to bridge communications gaps across other professions and the economics profession.
Overall, throughout this paper, I demonstrate the value and importance of the role of social structure in advancing corruption, the causes and consequences of corruption, the social costs of grand ...corruption, international cooperation in fighting corruption-related money laundering, the climate of international opinion toward corruption, and the current strategies to deal with money laundering and corruption. I hope this paper makes a significant contribution to evaluating the welfare losses of corruption, the adverse effects of corruption, the transaction costs in corrupt agreements, a close association between bad regulation and corruption, the economic and social consequences of corruption, and the rise to prominence of corruption and money laundering.
Utilities as business enterprises seek to shift liability and risk by outsourcing work to contractors, and limiting liability in supply and distribution contracts. While these measures may be ...effective in most cases, they do not completely protect the utility. This article examines the situations where the utility will remain liable for injuries or damage caused by its contractors and where contractual limitation of liability clauses do not protect against liability.
This study intends to analyze the road crash costs in Thailand. Furthermore, this study also attempts to determine the economic losses of two well-known holidays in Thailand, the New Year Festival ...and the Songkran Holidays. It was known that the total economic losses due to road crashes in Thailand are estimated to be 140,000 million Baht (about US$3,500 million) or 2.56 percent of the Gross Domestic Product (GDP) in 2002. This corresponds to the present value of lifetime costs of 13,290 fatalities, 952,348 non-fatal injuries, and 736,000 property damage only crashes. Each fatality resulted on an average discounted lifetime cost of 3.05 million Baht, while average cost per serious injury as well as slight injury were 0.20 and 0.03 million Baht, respectively. Additionally, the total economic losses on New Year Holidays 2004 and Songkran Holidays 2003 were estimated to be 7,487 and 5,959 million Baht, respectively.
Valuation of economic losses related to specific events such as auto accidents, employment termination, breach of contract, to name a few, has developed into the applied field that has come to be ...known as forensic economics. Research indicates that most forensic economists (FEs) are solo practitioners, typically holding a full-time position at an academic institution. A successful FE must become the master of the "art" of applying and communicating knowledge as a paid expert in a legal context. This paper provides an overview of the practice of forensic economics by explaining to economists the scope and nature of the field. The paper covers the role of the economist within the adversarial process that is the law, and case strategies used by attorneys when they engage the services of an economist. Also discussed is the nature of a forensic economics assignment and the basic method by which economists approach the calculation of economic losses. The paper touches upon some of the measurements required to arrive at a reasonable estimate of economic damages, and emphasizes the dual art-and-science nature of applied economics. A discussion of the aspects of expert testimony is included with an emphasis on the need to be able to withstand strong cross-examination at both depositions and trials. A list of helpful references is provided.
