Shortage of judicial capacity leads to costly delays, stunted economic development, and even failure to deliver justice. This problem is endemic not only in the developing world but also in the congested appeals courts of wealthier nations. Using the Supreme Court of India as an exemplar for...

Problem definition: Firms can reduce the risk of rare disasters by accounting for more frequent near misses: precursor events that could have escalated to a disaster but did not. Investigating a near miss reveals its root cause, allowing the firm to improve process safety and reduce disaster...

Trade credit insurance (TCI) is a risk management tool commonly used by suppliers to guarantee against payment default by credit buyers. TCI contracts can be either cancelable (the insurer has the discretion to cancel this guarantee during the insured period) or non-cancelable (the terms cannot...

Public warnings have the potential to mitigate the threat from terrorism: the public is alerted, and in response, the terrorist may defer his attack. Paradoxically, warnings can be a victim of their own success. The absence of an attack may be misconstrued by the warning recipients as a false...