This paper shows that up-front payments can play a crucial role in providing efficient investment incentives when contracts are incomplete. They can eliminate the overinvestment effect identified by Rogerson [1984] and Shavell [1980] when courts use an expectation damage remedy. This method...

The purpose of this paper work is to provide a basic juridical-legislative strategy under which countries of the south-eastern Europe would regulate and harmonize their local legislation with European conventions assuming to provide protection and sustainability to the environment. This due to...

The international financial system has achieved a radical change in the last twenty years. From the so called Commodity Exchange, which is recognized as the origin of the financial system and even of the derivative one by the economic literature since 1500, to Black & Scholes (1973a) and...

This paper examines how the adoption of the Australian ballot (AB), and ipso facto, the transition from the nominal to effective secret vote, shaped the nature of party politics in Brazil. Engaging the literature on political clientelism, the impact of the AB on three outcomes is studied: 1) the...

The “Broken Windows†theory of crime prescribes “zero-tolerance†law enforcement policies that disproportionately target light crimes with the understanding that this will lead to future reductions of more severe crimes. We provide evidence against the effectiveness of such...

The development of the computerized society allows citizens to solve the problems they have with local authorities, thus ensuring protection, transparency, a shorter time to solve issues etc. The computerization of public services manages to create a link between the public authorities and...

This paper casts doubts on the existence of a contradiction between the norms of International Humanitarian Law and International Human Rights Law in the sphere of the protection of the right to life and concludes that the wording and systematic interpretation of international treaties, and the...

Resumen El artículo hace una síntesis del proceso de planeación en Colombia hasta la constitución de 1991. En el trabajo se puntualiza que las primeras técnicas de planeación fueron introducidas por la CEPAL (Comisión Económica para América Latina), y tanto el proceso descentralista que...

"The earth is polluted - Commoner says - not because the man is a very dirty animal, nor because the species is too large. The blame is on society - how society understands to possess, distribute and use the wealth that human labor extracts from planetary resources (Barry Commoner, The circle...