Compensating for unforeseeable damages in torts

The doctrine regarding unforeseeable damages in a contract was established in the well known case of Hadley vs. Baxendale. According to the judgement, a plaintiff cannot be compensated for unforeseeable damages in an incomplete contract unless he informs the defendant of the possible unforeseen contingency beforehand. In this paper, I extend the argument to the tort case in which it is hardly possible to communicate between a plaintiff and a defendant before an accident occurs. In the case of the sequential bilateral accident in which the victim’s care level is observable to the injurer, the victim’s care level can be a signal of the unforeseen contingency. I mainly discuss the implementability of the social optimum by the contributory negligence with dual standard of care enabling the communication between the parties.     

论记账式国债的新模式--银行柜台交易业务

2002年4月3日央行颁布了《商业银行柜台记账式国债交易管理办法》,该《办法》对于商业银行和投资者将产生的深远的影响。     

LPAC项目在我国实施的现状与问题——对西部地区LPAE项目的调查

文章介绍了LPAC项目在我国西部地区的实现现状，并就有代表性的地区进行了具体分析。肯定了LPAC项目的积极作用：同时，也指出了实施过程中存在的问题，并提出了建议。     

Impacts of meat product recalls on consumer demand in the USA

The impact of meat product recall events on consumer demand (beef, pork, poultry, and other consumption goods) in the USA is tested empirically. Beef, pork, and poultry recall indices are constructed from both the Food Safety Inspection Service's meat recall events and from newspaper reports over the period 1982–1998. Following previous product recall studies, recall indices are incorporated as shift variables in consumers’ demand functions. Estimating an absolute price version of the Rotterdam demand model, findings indicate that Food Safety Inspection Service's meat recall events significantly impact demand, and newspaper reports do not. Moreover, although elasticities related to recall events are significant they are small in magnitude relative to price and income effects. Any favourable effects on the demands of meat substitutes for a recall are offset by a more general negative effect on meat demand. The general negative effect indicates a shift out of meat to non-meat consumption goods.     

“Thirlwall’s Law” reconsidered

Thirlwall’s Law is found to be the necessary but not sufficient condition for balanced long-run growth. A simple equation is considered whose empirical analysis could confirm—or reject—the validity of the Law. The analysis, conducted by means of econometric co-integration using the Dynamic Ordinary Least Squares method applied to data for 59 countries covering the years 1960–2012, suggests that Thirlwall’s Law may not hold for the decisive majority of countries.     

Moonlighting: multiple motives and gender differences

This paper examines the incidence and reasons for moonlighting with a focus on gender differences. The study specifies and estimates a bivariate probit model of labour supply and the decision to hold more than one job. It is found that the factors leading men and women to moonlight are similar. A wage decomposition analysis reveals that 93 percent of the differential between male and female moonlighters' wages is not explained by differences in characteristics, and little connection is found between an individual's human capital and their moonlighting wage. Finally, it is found that moonlighters are less likely to report their income.