Pecuniary Value Research Articles

THE SPIRITUAL CONNECTION BETWEEN THE CARTOGRAPHY OF THE HUMAN SUBCONSCIOUS AND THE STRUCTURES OF NEOLIBERAL THEOLOGY

Usually, an economist, a manager, a business administrator, or any other participating member of the free market has a single and clear view of the pecuniary value of goods and the nature of capital. The logic of capitalism allows the economic agent to assign clear values to goods based on several factors. Although such a strict view of a good and its nature is mechanically correct, it is an incomplete one. Economists and economic theorists more broadly agree that commercial goods, whether they are directed to the consumer or intermediate goods in the production chain, are the result of human labour.

‘A perfect farce’: the practice of claiming damages for adultery in the late-Victorian divorce court

ABSTRACT For nearly three hundred years it was a British husband’s right to claim damages for the trespass of his wife. By the mid-nineteenth century the practice was considered morally questionable, yet still it entered the statute books under the Matrimonial Causes Act 1857 where it remained something of an embarrassment until 1969. Very few studies have considered what this meant in practice. This article offers a comprehensive examination of compensatory awards by analysing data from a sample of petitions filed with the divorce court between 1881 and 1900. It asks, who were the men who put a pecuniary value on their wife’s ‘ruin’ and considers why damages were more pertinent to middle-class petitioners than those above or beneath them. It explores the practical implications of how damages were calculated and applied and suggests reasons why juries frequently awarded lower sums than claimed. Finally, it considers the moral implications of a system that treated wives as chattel and continued to do so well into the twentieth century.

The value of law

Much has been written about the value of law, mostly in ideational terms. In this article, I draw attention to law’s pecuniary value. Law, I argue, is the very stuff from which many wealth generating, or capital, assets are made, foremost among them intangible assets that account for most of the private wealth today. For law to serve as a fountain of wealth, it must be backed by state power, and indeed, sovereign states have been more than willing to offer a helping hand. They have found intellectual support in neoclassical economics and in its off-spring, law and economics, theoretical approaches that have sought to ground law in the scientific analysis of the economy, in efficiency rather than in justice. In doing so, they have averted their eyes from the fact that the most critical source for wealth, that is law, is itself of the state and should be subject to social norms enshrined in our constitutions, not abstract welfarism.

Worker retirement responses to pension incentives: Do they respond to pension wealth?

Pension enhancements generate pension wealth spikes at the eligibility milestones. I analyze two major enhancements that generated different gains in pension wealth for eligible workers. The responsiveness of retirement behavior to these enhancements depends on how well workers understand their pension incentives. To test the retirement response to pension wealth, I use administrative data from Missouri teachers and leverage variation in enhancement impacts on teacher pension wealth owing to differences in teachers’ entering ages. I find that retirements respond strongly to pension enhancements, but the strength of the response does not align with their pecuniary value. My findings contribute to a growing body of research showing that workers have imperfect knowledge of their pension benefits and they use imprecise information to make retirement timing decisions.

Money matters: The impact of prize money on doping behaviour

In professional sports, the amounts disbursed in rank-based prize money distributions decline sharply, and differences in performance are extremely small. This disparity may provide a high incentive for doping. Due to the complexity of doping, obtaining meaningful insights on the influence of prize money distribution and the pecuniary value of prize money on doping behaviour of elite athletes using game theory or other approaches has not been possible. The authors perform a computerised social simulation through agent-based modelling to analyse doping behaviour in competitive sport. The results show that the distribution of prize money in particular has an enormous impact on the prevalence of doping. By contrast, the total amount of prize money is less decisive for doping behaviour. Further, doping costs are observed to have only a marginal effect on doping prevalence, depending on the tested prize money distribution and its amount. The simulation results can be used by sports federations and competition organisers who should distribute the prize money more evenly to all athletes to reduce doping.

Mitigation of Damage in the Context of Remedies for Breach of Contract

When I began this article my main objective was to show why the concept of mitigation of damage, which is so extensively used in common law, was apparently non-existent in civil law. Right from the beginning, however, I found conclusive evidence which proved that the concept of mitigation actually exists in civil law too; my purpose was then transformed into explaining how this concept works in two systems of law that are so different in their approaches and their methodologies. In order to make this study manageable, I have focused on the links between the concept of mitigation and the problem of pecuniary loss following a breach of contract. Consequently, issues pertaining to tort, physical injuries to persons and things, and claims to liquidate sums, as in debt, will be dealt with only incidentally. Regrettably, this course of action will leave open many interesting questions related to mitigation, mainly in tort but also in contract. Nevertheless, I trust that the present study will constitute a useful basis for further analysis on this subject. I have divided this work into two parts, devoted to the two phases of recovery following a breach of contract. The first phase concerns the choice of which losses fall under the protection of the law, among all those claimed by the plaintiff. I propose to call this phase measuring the extent of the loss. The second phase involves the determination of what the defendant will have to do in order to compensate the plaintiff; when this compensation takes a pecuniary form it involves the assessment of the pecuniary value of the loss. The first of these phases primarily concerns the extent of losses and the question of what damage counts for compensation; this particular aspect of the issue of mitigation is the subject of Part I of this article. The connection between mitigation and the pecuniary evaluation of a plaintiff's damages is examined in Part II where I focus on the effects of inflation and other factors that influence the cost of compensation. Finally, from a comparative point of view, one of the main interests of the present study lies in observing that the concept of mitigation has achieved a different status in civil law and in common law. The conclusion of this work explores this situation, and aims at explaining the historical and juridical circumstances that may have caused common law to attain higher levels of generality and of abstraction than civil law with regard to the issue of mitigation.

Study on the preference for capsule hotel attributes using a choice experiment

The main purpose of this study is to investigate the attributes of capsule hotels preferred by individuals. To this end, a choice experiment (CE) was adopted; a CE is a systematic method used to determine individual preferences with regard to goods and services. A well-known advantage of CEs is their ability to capture a pecuniary value for target attributes in the form of marginal willingness to pay (MWTP). By comparing the sizes of MWTPs, we can recognize the order of preference among attributes. Amazon Mechanical Turk was used to collect the study data. We examined the magnitudes of the degree of preferences for “additional services provided,” “accessibility,” and “price.” The findings indicate that price is negatively associated with capsule hotel choice, whereas accessibility and service are positively associated with capsule hotel choice.

Pecuniary Value of Disability-Adjusted-Life-Years in the Arab Maghreb Union in 2015

This study bridges extant information gap on the pecuniary value of disability-adjusted-life-years (DALYs) lost in the Arab Maghreb Union (AMU). The DALYs lost in 2015 are converted into money using human capital (lost output) approach. The AMU total value of DALYs lost from all causes is the sum of each of the five country’s pecuniary value of DALYs (PVD) lost from all causes. The PVD associated with DALYs lost due to jth disease among persons of a specific age group is the product of the per capita non-health GDP in international dollars (Int$) and the total DALYs lost. The 27,175,610 DALYs lost in AMU in 2015 had a pecuniary value of Int$ 289,033,271,814, which is equivalent to 25.6% the sub-region’s 2015 GDP. The average pecuniary value per DALY lost was Int$ 10,636, which ranged from a minimum of Int$ 4226 in Mauritania to a maximum of Int$ 13,852 in Algeria. The pecuniary value of DALYs lost from all causes in the AMU sub-region annually is substantive.

Memory, Cultural Heritage and Community Rights

For centuries church bells have constituted an inherent element of religious and social life. Due to their artistic and pecuniary value, the bells have also been subjected to forced removal and/or pillage. This article discusses the role of church bells as vehicles of the collective memory and cultural identity of selected ethnic and religious communities in Europe which were deeply affected by the post-World War ii territorial arrangements: namely, the Italian, Slovenian and Croatian communities of Istria and Ukrainians re-settled from Poland. Against the background of these cases it explores the clashes within various layers of international law dealing with culture and cultural heritage: humanitarian law, state succession, protection of the integrity of cultural heritage sites, and human rights. Viewed through such a lens, some suggestions are offered on how to overcome these conflicts in order to enforce the cultural rights of communities and protect their right to enjoy their material and spiritual heritage.

The Notion of Possessions for the Purposes of Article 1 of the First Additional Protocol to the European Convention on Human Rights

Problem setting. Article 1 of the First Additional Protocol to the European Convention on Human Rights (hereinafter – Art. P1-1) states that every natural or legal person is entitled to the peaceful enjoyment of his possessions. Thus in order for this article to be applicable, the applicant has to show that the right, which he alleges to be violated by the respondent state, constitutes his possession.Recent research and publications analysis. The concept of “possessions” within Art. P1-1 was analyzed by foreign scholars, such as S. Drooghenbroeck, U. Kriebaum, C. Schreurer, L. Sermet and others. The problem was also addressed by the Judge of Constitutional Court of Ukraine – S. Shevchuk.Paper objective. The main objective of the paper is to provide general criteria of what should be deemed as possession in the context of Art. P1-1.Paper main body. The case law of European Court of Human Rights allows to conclude that in order to be deemed as a possession, the subjective right in question should meet three following requirements: (1) it must have pecuniary value, which can be measured in money; (2) it must be civil in nature (as distinct from rights based on public law); (3) it must be certain enough to be enforced by the court (in contrast to the mere hope of some advantages).Conclusions of the research. As a conclusion it should be noted that in its pursuit to protect fundamental rights of a person European Court of Human Rights tends to equate legal notion of possessions with economic concept of welfare.

Non-Asian Tourists' preferred attributes: a choice experiment

ABSTRACTThis study aims to identify non-Asian tourists' preferred attributes for a one-day Seoul tour package by examining theoretical frameworks of values related to tourists' heterogeneity of choice behaviors. The study applies a choice experiment (CE) to capture the systematic heterogeneity of preferences in a non-Asian tourist group and examines whether different individuals' value orientations relate to heterogeneous preferences regarding the tour packages. The CE derives the preferences as a form of marginal willingness to pay (MWTP), a pecuniary value for additional units of the attributes. Historical/cultural destinations displayed the highest MWTP value of all tour sites in Seoul, which was estimated to be $74.32. The results also show that a respondent who emphasizes “money and enjoyment” and “authenticity” values is more likely to choose a tour package that includes more opportunities to visit shopping and historical/cultural sites, respectively.

Concept & Overview of Online Arbitration

Online Arbitration is a new tool for dispute settlement mechanism. This mechanism is more cost effective, more efficient and better than other traditional approaches of dispute settlement. As a new mechanism of dispute resolution, online arbitration has encountered certain difficulties in the application of traditional principles of international commercial arbitration law. Problems of litigation in the commercial disputes have made the alternative disputes resolution promotes day by day. Arbitration is one of the best technique which has found international popularity due to accurate codes and enforceable awards. 188th report of Law Commission of India proposed that we apply a ‘fast track’ procedure for the ‘Commercial Division’ cases in the proposed Commercial Division of the High Courts. The Law Commission, in its 176th Report on Amendments to the Indian Arbitration and Conciliation Act, 1996 proposed a ‘fast-track’ procedure for arbitration in India, where parties opt for such a procedure. We shall keep that model as a guide for prescribing a ‘fast-track’ procedure in Commercial cases of pecuniary value as high as 1 crore or more. Online Arbitration is the most successful simple method for the best resolution of cyberspace disputes. There are many legal issues that arise out of Online Arbitration, such as choice of applicable law, requirements of arbitration agreement, signature and place of arbitration etc. The principle underlying the online arbitration/ cyberspace approach is to find better, faster and cheaper ways to resolve disputes with the aid of technology.

Making a Market for Sustainability: The Commodification of Certified Palm Oil

In the same way there are markets for carbon, there is now a market for sustainability. Ostensibly produced as a means of conserving land in South-East Asia, a commodity called ‘certified sustainable palm oil’ has been created by the Roundtable for Sustainable Palm Oil (RSPO) and exchanged on its own international trading platform completely independently of the flow of physical palm oil. In this way, sustainability has acquired a precise pecuniary value and can be bought by ‘socially responsible’ companies to offset their use of conventional and potentially environmentally destructive palm oil. This is yet another instance of the commodification of nature, but of a kind largely unexplored in the literature because it has emerged without formal governmental authority. What this case adds analytically to the study of capitalism and environmentalism is two-fold. First, what is commonly described as non-state, market-driven governance must now be seen as actively market-making. Second, rather than foreclosing politics by moving outside the state and within markets, the fragile authority of the RSPO has opened space for activists and other interest groups to challenge both the regulatory mechanisms and social purpose of primary commodity governance.

The preventive effects of ignorance in Anti Doping

In professional sports, the amounts disbursed in rank-based prize money distributions decline sharply, and differences in performance are extremely small. This disparity may provide a high incentive for doping. Due to the complexity of doping, obtaining meaningful insights on the influence of prize money distribution and the pecuniary value of prize money on doping behaviour of elite athletes using game theory or other approaches has not been possible. The authors perform a computerised social simulation through agent-based modelling to analyse doping behaviour in competitive sport. The results show that the distribution of prize money in particular has an enormous impact on the prevalence of doping. By contrast, the total amount of prize money is less decisive for doping behaviour. Further, doping costs are observed to have only a marginal effect on doping prevalence, depending on the tested prize money distribution and its amount. The simulation results can be used by sports federations and competition organisers who should distribute the prize money more evenly to all athletes to reduce doping.

The Accuracy, Market Ethic, and Individual Morality Surrounding the Profit Maximization Assumption

This paper hinges on the distinction between “maximizing profit” and “making profit.” It recounts from Adam Smith the ethical basis for profit making, and observes in Augustin Cournot why the maximization assumption was introduced. Several introductory texts are examined to observe how profit maximization is presented. The veracity of the assumption is challenged by considering: owner/ managers who focus on utility rather than profit, corporate maximization of shareholder wealth, corporate managers who pursue personal benefits, and evidence of “corporate social responsibility.” Milton Friedman's 1970 New York Times Magazine essay, “The Social Responsibility of Business is to Increase its Profits” is used to support that the ethical justification for the market system does not rest on maximizing profit, and that individuals often have moral latitude to pursue non-pecuniary business goals alongside seeking profit. Teaching that all firms maximize profit poorly educates students concerning how many firms actually behave and it reinforces a pecuniary value.

The Puzzle of a Loyal Minority: Why Do Azeris Support the Iranian State?

Ever since its inception, the state of Iran has been pressed with the challenge of integrating the multiple ethnic identities that make up its plural society. In contrast to a number of other minorities like the Kurds and the Baluchis, the Azeris have shown loyalty to the Iranian state to the surprise of foreign scholars and policy makers. They have done so even in spite of a number of potentially favorable political and economic conditions that could support the realization of national aspirations. This article addresses this puzzle: why, against seemingly favorable odds, have Iranian Azeris refrained from asserting their national ambitions and joining their newly independent kin north of the border? In an attempt to solve this puzzle, the paper will examine the triadic relationship among the Azeri minority in Iran, their home state (Iran), and their kin state (the Republic of Azerbaijan).The Islamic Republic of Iran is ethnically diverse. For centuries, Persians, Azeris, Kurds, Arabs, Baluchs, Turkmen, and other ethno-linguistic groups have been living alongside one another. Successive Iranian governments have always coped with this multi-ethnic society. Since there is no official data on the size of the ethno-linguistic groups, scholars have to rely on their own estimates and numbers provided by local non-governmental organizations and international relief agencies: Persian 51%, Azeri 24%, Gilaki and Mazandarani 8%, Kurd 7% (Indo-European family, Iranic branch), Baluch 2%, Lur 2%, Turkmen 2% (Turkic family), Arab 3% (Semitic family), and others (mainly Armenians and Georgians) 1%.1 Despite their different linguistic and cultural backgrounds, the majority of these Iranian ethnic groups are native to Iran. While many Iranians also identify with specific religious, linguistic, or tribal groups, there is a pervasive idea that the inhabitants of the Iranian low-lands have a common, unique Persian heritage. In contrast to the diversity of its ethnic landscape, Iran is relatively homogenous in terms of religion: 90% of the population is Shi'i. Overlapping identi ties within Iran have posed political challenges to the regimes in the past. The country's Azeri and Kurdish populations have frequently agitated for more cultural freedom and a greater degree of local autonomy from Tehran. These two ethnic groups also have a geographically consolidated critical mass in neighboring states. Yet, one ethnic group has dominated the various minorities of Iran for centuries: ethnic Azeris.The Azeris differ from the majority Iranians in that they do not speak Persian. Rather, they speak Azeri (also known as Azeri-Turkic), a dialect of slightly Persianified Turkish. In reality, the most important aspect that creates binding commonalities is the Shi'a Islamic tradition that most Iranians share, and which does not extend far into the Caucases. The demographic potential of the Iranian Azeris attracts the attention of policymakers in Tehran, Washington, and Tel Aviv. The Azeri provinces have the highest number of industrial and trading facilities outside of Tehran. Although the area represents the Iranian bridge to Europe, with major transportation routes and large-scale energy projects, no pecuniary value can be credited to Iranian Azerbaijan. The significance of the Azeris to the rest of Iran is even more conspicuous when looking back at its controversial history. There are over 35 million Azeris in the world, of which around 15 million are believed to be living in Iran, around 8 million in the Republic of Azerbaijan, close to 2 million in Turkey, and about 2 million in Russia.2 In The Ancient History of Iranian Turks, Professor M.T. Zehtabi has argued that current Azeris descended from the ancient inhabitants of western Iran and the Caucasus.3 Historically, three different ethnic components have participated in the formation and the evolution of Azeri people: the Medes, who were mainly concentrated in southern Azerbaijan; the Aran-Albanese, who were living in the north; and the Turks, who lived in various parts of Azerbaijan. …

Civil jurisdiction of the high court of the United Republic of Tanzania: A critical comment on the amendment made by Act no. 25 of 2002 and its impact on the pecuniary jurisdiction of the High Court

There have been debates on the bench and bar on the civil jurisdiction of the High Court of the United Republic of Tanzania, particularly the pecuniary jurisdiction. On the bench, the debates have been developed by the Honorable Judges of the Court itself. The basis of the debates is the amendments brought by Act No. 25 of 2002, the written laws (miscellaneous amendments) Act, which, inter alia, amended the Magistrates Courts’ Act of 1984 by raising the pecuniary jurisdiction of subordinate courts (district and resident magistrates’ courts). Both the court and members of the bar have interpreted the provisions of the amending law in two different ways. There are those who argue that the High Court is ousted of its jurisdiction to hear cases whose pecuniary value is below shillings 100,000,000/= while others argue that the court has unlimited jurisdiction and therefore its pecuniary jurisdiction is not affected by the amendments brought by Act No. 25 of 2002. This paper considers whether the relevant provisions of law are properly interpreted in determining the pecuniary jurisdiction of the High Court. By way of research methodology, the author made use of secondary sources of information which involves a review of law dictionaries, text books, statutes, commentaries of prominent law scholars, cases, both reported and unreported, and other related materials in the course of writing this review article. After making a thorough analysis of the materials employed, the author submits that the amendments brought by Act No. 25 of 2002 did not intend to oust the jurisdiction of the High Court rather they were meant to set a ceiling on subordinate courts’ pecuniary jurisdiction. Since the said amendments do not expressly take away the jurisdiction of the High Court, then they should not be interpreted as so doing. Key words: Civil, pecuniary, jurisdiction, High Court, Tanzania, amendment, Act, impact.

The Pecuniary Value of Commuting Time

If commuting time is changed significantly by injury or wrongful termination, the change in the cost of commuting might be an element of damages, and the forensic economist might be called on to evaluate the change. Transportation economists have studied commuting behavior for more than half a century. They have developed models of utility maximization in choosing among modes of travel and concluded that, roughly, commuters are willing to trade time for money as though their time were worth half their wage; but there are variations. This paper summarizes findings from transportation economics for possible application in forensic economics.

Retirement Decisions of Older Czech Male Workers

I analyze the effects associated with the introduction of the earnings test on older Czech males’ labor supply in 1996. Using data from the Labor Force Survey, I apply a difference-indifferences estimator to measure the effect of the policy change in the Czech pension scheme using a sample of retired males aged 60 to 64 in 1995 and 1996. I use an age group not affected by the earnings test to separate the effect associated with the implementation of the earnings test. Correcting for sample selection, results indicate that the earnings test decreases the labor supply of retired males affected by the policy change. Their participation reduces by 7.7 percentage points, while hours of work decline by 4.8 hours per week. The response to the earnings test is moderately lower after controlling for the announcement of the policy change. The pecuniary value of the labor supply drop was negligible for the state in 1996, but increased significantly between 1996 and 2000.

Future Economic Damages

Future Economic Damages