One con transpor pumps’. *Autho Department of Physiology, Anatomy and Genetics, University of Oxford, Oxford OX1 3PT, UK Laboratoire de Biologie et Physiopathologie des Systèmes Intégrés, CNRS-Universite de Nice, FRE 3094, Parc Valrose, Nice Cedex 2, France Bristol Institute for Transfusion Sciences, National Blood Service, Southmead, Bristol BS10 5ND, UK Department of Medicine, University Coll...

Policy makers and static economic models often argue that contingent fees cause lawyers to settle cases sooner than their clients would like, so as to avoid accumulating costs of bargaining. Yet, in a dynamic setting, a willingness to sink costs can be a strategic advantage when seeking to establish the credibility of threats. This paper shows that this can be the case for cost-bearing continge...

Although the Google Books Settlement has been criticized as anticompetitive, I conclude that this critique is mistaken. For out-of-copyright books, the settlement procompetitively expands output by clarifying which books are in the public domain and making them digitally available for free. For claimed in-copyright books, the settlement procompetitively expands output by clarifying who holds th...

Alternative payment instruments are studied in an economy with private information, delayed communication, and limited commitment. Attention is restricted to checks and bank drafts, which differ in resource cost and communication characteristics. Checks are less costly but settlement delays create a limited commitment constraint. We Þnd that drafts dominate at low wealths and checks at higher w...

The appropriate configuration of marine reserves for maximizing harvests or ensuring species persistence when there is uncertainty or variability in larval dispersal patterns is not completely understood. This is particularly true in environments with large alongshore advection rates, as the success of a system of marine reserves depends on connectivity through larval and/or adult dispersal bet...

This paper attempts to provide an economic framework for assessing why and how Internet telephony may a ect the international accounting rate system in particular, and communication over circuit switched networks in general. It reviews the regulatory treatment of Internet telephony, and compares the costs and prices of making international calls over the Internet and the public switched telepho...

For the last half century, international trade has been an important contributor to the growth of the world economy. Similarly, over the past twenty years, after China’s decision to pursue a market opening policy, the growth of the Chinese economy has been led by the rapid growth of its exports and imports. However this growth in international trade has been accompanied by an increase in the nu...

Despite debuting to little fanfare under the General Agreement on Tariffs and Trade (GATT), dispute settlement under the World Trade Organization (WTO) has been called the “backbone of the multilateral trading system.” Indeed, whereas GATT dispute settlement could scarcely have seemed more flawed, the WTO’s Dispute Settlement Understanding (DSU) is widely touted for boosting confidence in an in...

We introduce contingency fees into the Reinganum and Wilde (1986) signaling model of litigation. The effect of contingency fees on settlement depends upon the details of the contingency fee contract and the nature of the informational asymmetry assumed in the model. Introducing bifurcated fee contracts where the contingency percentage is higher at trial changes the selection of disputes at tria...

This article, based on a lecture given at the inauguration ceremony for the new Advisory Centre on WTO Law, describes the broader world trading landscape into which this new Centre emerges. Taking into account the possible implications of the events on September 11, this article provides a brief analysis of the current trade policy climate, asserting the necessity of institutions for the succes...