El Prestige: comparativa de los regímenes internacionales de responsabilidad civil

2019 ◽  
Vol 37 (3) ◽  
pp. 31
Author(s):  
Raquel Fernández González ◽  
Marcos Íñigo Pérez Pérez
Keyword(s):  
Institutional Economics ◽  
Geographical Area ◽  
New Institutional Economics ◽  
Rigorous Analysis ◽  
Judicial Process ◽  
Main Research ◽  
Civil Responsibility ◽  
The One ◽  
High Degree ◽  
The Prestige

The return of institutions to the main research agenda has highlighted the importance of rules in economic analysis. The New Institutional Economics has allowed a better understanding of the case studies that concern different areas of knowledge, also the one concerning the management of natural resources. In this article, the institutional analysis focuses on the maritime domain, where two large civil liability regimes for pollution coexist (OPA 90-IMO), each in a different geographical area (United States - Europe). Therefore, a comparative analysis is made between the two large regimes of civil responsibility assignment applying them to the Prestige catastrophe. In this way, the allocation and distribution of responsibilities in the investigation and subsequent judicial process of the Prestige is compared with an alternative scenario in which the applicable compensation instruments are governed by the provisions of the Oil Polution Act of 1990 (OPA 90), in order to establish a rigorous analysis on the effects that the different norms can have in the same scenario. In the comparative established in the case of the Prestige, where the responsibilities were solved very slowly in a judicial process with high transaction costs, the application of rules governed by the OPA 90 would not count with such a high degree of imperfection. This is so, since by applying the preponderance of the evidence existing in OPA 90 there would be no mitigation for the presumed culprits. On the other hand, the agents involved in the sinking would not be limited only to the owner, but also that operators or shipowners would be responsible as well. In addition, the amount of compensation would increase when counting in the damage count the personal damages, the taxes without perceiving and the ecological damage caused in a broad sense, damages not computable in the IMO.

scholarly journals Coexistence of Cooperative Models as Structural Answer to Lock-Ins in Diversification Pathways: The Case of the Walloon Dairy Sector

2020 ◽  
Vol 4 ◽  
Author(s):  
Véronique De Herde ◽  
Philippe V. Baret ◽  
Kevin Maréchal
Keyword(s):  
Institutional Economics ◽  
Transition Process ◽  
New Institutional Economics ◽  
Product Diversification ◽  
Added Value ◽  
Economic Agents ◽  
Dairy Cooperatives ◽  
The One ◽  
Hybrid Actors ◽  
Cooperative Models

Drawing on an analysis of the Walloon dairy sector, this paper aims at bringing novel insights on the coexistence issue in agrifood transition studies. Whereas most studies explore the coexistence of farm models, our study focuses on value chains, in particular on cooperatives. In the Walloon Region, new dairy cooperatives emerged, as substitute or as complement to the incumbent vertically integrated dairy cooperatives. This paper focuses on the coexistence of dairy cooperative models as enabler of transition toward product diversification. Dairy cooperatives are hybrid actors: economic agents on the market on the one hand, structure of collective agency on the other hand. Williamson's framework of New Institutional Economics acknowledges that the allocation of resources by cooperatives depends on governance processes and on the wider institutional context in which the cooperatives evolve. Within the broader frame of the Multi-Level Perspective, this approach allows to consider the socio-technical coherence in which the cooperatives evolve, the effects of this coherence on their pathways of development, and the complementarity of the cooperative models. This qualitative analysis builds on semi-directed interviews with actors of the Walloon dairy sector. The results outline distinctions between the new cooperative models and mainstream dairy cooperatives in market approach, definition of milk quality, distribution of added value, governance, and interactions with partners. Both models evolve within a distinct socio-technical coherence, holding, in the case of the mainstream dairy cooperatives, lock-ins to diversification related to the relationship with the farmer-members and the milk they produce in the industrial vertically integrated model. The new cooperative models circumvent these lock-ins through de-integration and externalization of initiatives, remuneration, and risk. They allow specific groups of actors—still related or unrelated to the mainstream dairy cooperative—to explore new market pathways in accordance with their potential, and to mutually agree on criteria qualifying milk. This research draws the picture of a possible reconfiguration of the dairy landscape toward a more diversified ecosystem of actors and invites to consider structures of governance in collective action as a cornerstone issue, because of their significant role in terms of enablement, coexistence, and complementarity throughout the transition process.

scholarly journals Potential of New Institutional Economics for Rural Community Development

2020 ◽  
Vol 86 ◽  
pp. 01015
Author(s):  
P. Eko Prasetyo ◽  
Adryan Setyadharma ◽  
Nurjannah Rahayu Kistanti
Keyword(s):  
Rural Communities ◽  
Community Development ◽  
Informal Economy ◽  
Institutional Economics ◽  
Cultural Anthropology ◽  
Fundamental Problem ◽  
New Institutional Economics ◽  
Economic Potential ◽  
Main Research ◽  
Institutional Economic

Rural economic inequality is a fundamental problem which makes it important to seek its causes and find its policy solutions immediately. The new institutional economic potential development policy is the right choice. The purpose of this article is to explain more broadly the importance of new institutional economic potential in developing rural communities. Especially, to explain various economic dimensions of new institutions in a comprehensive manner in determining the level of community development. This research method used structured survey that has been well-designed and measured for data collection, variable measurement, and data analysis. Quantitative and qualitative data are gathered by using integrated methods between various disciplines; economics-sociology and economics-geography. Further, to interpretation the data, we used economic and cultural concepts; informal economy, new institutional economics, gravitational economics and cultural anthropology. Then, the method of analysis is path analysis using recrusive form of correlation model with multiple path equation systems. The main research results show that the new institutional economic potential is a key factor in developing rural communities and reducing inequality. Besides, the new institutional economics will encourage economic growth and public welfare

From New Institutional Economics of the Commons to the Common as a Mode of Production

2019 ◽  
Vol 118 (4) ◽  
pp. 767-787
Author(s):  
Alfonso Giuliani ◽  
Carlo Vercellone
Keyword(s):  
Social Sciences ◽  
Institutional Economics ◽  
New Institutional Economics ◽  
The Political ◽  
Economic Regulation ◽  
Political Conception ◽  
The Commons ◽  
The Common ◽  
The One ◽  
Mode Of Production

The vitality of the new field of study on the commons crosses the entire field of social sciences, and it is analyzed from very different perspectives. On the one side, the Ostromian new Institutional economics uses the term commons as plural and seeks to give an account of the variety of the institutional forms of economic regulation. On the other, some new approaches interpret commons as an element of subversion of capitalism. These authors insist on the use of the concept as singular and they interpret it as a general principle of reorganization of economy and society. This article aims at analyzing the meanings of common and commons at stake in this debate. After a critical assessment of Elinor Ostrom’s contribution, the analysis will focus on the presentation of the theories of common as singular, distinguishing two currents of thought: the political conception of Dardot and Laval and the neo-workerist thesis of common as mode of production.

Reduction of Transaction Costs by Using Electronic Commerce in Financial Services

2011 ◽  
pp. 62-83
Author(s):  
Thomas Pfahler ◽  
Kai M. Grebe
Keyword(s):  
Electronic Commerce ◽  
Transaction Costs ◽  
Financial Services ◽  
Institutional Economics ◽  
Business Processes ◽  
New Institutional Economics ◽  
Future Developments ◽  
Current Trends ◽  
The One ◽  
Practical Level

This chapter introduces the Transaction Cost Approach as a means of analyzing specific transactions in financial services by using the theoretical framework of New Institutional Economics. It argues that transaction costs can be assessed and used to compare different business processes. Furthermore, these costs allow a detailed explanation why certain underlying technologies which form the basis for transactions become widely accepted whereas others do not prevail. The authors emphasize the relevance of this approach and its application to the field of electronic commerce both on a theoretical and practical level to document and to interpret current trends in this sector on the one hand, and to predict future developments on the other hand.

Binary fractions and a whole unit 'measure of value' in the seal-texts of the Indus civilization

2018 ◽  
Author(s):  
Chandra
Keyword(s):  
Economic Integration ◽  
Precious Metal ◽  
Geographical Area ◽  
Standard Measure ◽  
Archaeological Record ◽  
Indus Civilization ◽  
Mathematical Symbol ◽  
Economic Worth ◽  
The One ◽  
High Degree

Short sequences of symbols on tiny stone seals, miniature tablets and assorted media are the only evidence of writing in the Indus Civilization (flourished ca. 2600--1900 BCE). About five thousand specimens bearing such brief 'texts' have been cataloged so far, and despite nearly a hundred years of study, the texts cannot be read. This study proposes based on a consilience of evidences that a small number of symbols that occur prominently at the beginning of several texts in the corpus are pictorial expressions of binary fractions from the 'one-sixteenth' to the 'half', a 'whole' unit, and an 'equivalence' indicator whose form may have emerged from the same cognitive basis as the modern mathematical symbol for 'equality'. The correspondence of the fractions to the system of tiny weights in binary ratios found in the Indus archaeological record suggests the 'fractions' were not used in a mathematical sense, but were representations of small quantities of objects of value such as precious metal that likely functioned as measures of economic 'worth'. Parallels from contemporaneous Egypt and Mesopotamia, as well as specific Indus texts investigated in this study, suggest that the texts which begin with these symbols encoded 'worth equivalences', in which the worth of commodities of trade and articles of value were expressed against a standard measure of value. The use of such standardized expressions of economic worth over a vast geographical area offers concrete evidence of a high degree of economic integration among the different regions of the Indus Civilization.

Vertical Restrictions: Development of Theory, Antitrust Legislation and Enforcement

2010 ◽  
pp. 110-122 ◽  
Author(s):  
S. Avdasheva ◽  
N. Dzagurova
Keyword(s):  
Institutional Theory ◽  
Institutional Economics ◽  
Theory Of The Firm ◽  
New Institutional Economics ◽  
Hierarchical Organization ◽  
Vertical Restraints ◽  
New Institutional Theory ◽  
Antitrust Laws ◽  
Antitrust Legislation ◽  
Market Organization

The article examines the interpretation of vertical restraints in Chicago, post-Chicago and New Institutional Economics approaches, as well as the reflection of these approaches in the application of antitrust laws. The main difference between neoclassical and new institutional analysis of vertical restraints is that the former compares the results of their use with market organization outcomes, and assesses mainly horizontal effects, while the latter focuses on the analysis of vertical effects, comparing the results of vertical restraints application with hierarchical organization. Accordingly, the evaluation of vertical restraints impact on competition differs radically. The approach of the New Institutional Theory of the firm seems fruitful for Russian markets.

"Investor Myopia" in Post Keynesian Theory and in the Russian Economy

2006 ◽  
pp. 71-82 ◽  
Author(s):  
I. Rozmainsky
Keyword(s):  
Endogenous Growth ◽  
Institutional Economics ◽  
Institutional Environment ◽  
Transitional Economy ◽  
Transition Economics ◽  
Keynesian Economics ◽  
Russian Economy ◽  
Fundamental Uncertainty ◽  
High Degree ◽  
Negative Growth

The article examines the issues concerning links between institutional economics, Post Keynesian economics, models of endogenous growth and transition economics. The author considers interrelations between ineffective institutional environment, too high degree of fundamental uncertainty, investor myopia and resulting decrease in investment and "negative" growth in Russia’s transitional economy.

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