Promises, Promises

As host of the Olympic Games, China seeks to increase national economic and socialdevelopment and "display to the world a new image of China", and presents the Games as an opportunity to foster democracy, improve human rights and integrate China with the rest of the world. In its Olympic Action Plan promulgated in 2002, China outlined the phases of construction in the run up to the 2008 Games, and the standards to which it would hold itself in the governance and construction of venues, impact on Beijing's environment, increasing social and economic development and providing China's citizenry with greater access to information and technology.The goals and specific commitments that the government has adopted not only have implications for the smooth and successfuloperation of the Olympic Games, but also have the potential to impact on a number of China's international obligations, including its human rights obligations.Despite human rights-related commitments as diverse as transparency and accountability, access to information and freedom of the press, poverty alleviation, an improved standard of living for all people, and compensation for evictions and health issues, the record to date raises serious compliance issues

Expectations and promises

Discusses the Chancery Division judgment in Thorner v Curtis on a claim by an unpaid farm worker, who was led to expect that he would inherit the farm. Examines whether proprietary estoppel could be proved even if the deceased landowner made no express promise. Reviews case law on proprietary estoppel

Promises & Partnership

We examine, experimentally and theoretically, how communication within a partnership may mitigate the problem (highlighted in contract theory) of hidden action. What is the form and content of the communication? Which model of decision-making can capture the impact of communication? We consider free-form communication, measure beliefs (about actions and beliefs), and examine which motivational forces influence subjects. We find they harbor belief-dependent preferences that can be captured using psychological game theory. In particular, agents are influenced by guilt aversion, which suggests a theory of why and how communication influences behavior in which statements of intent and resulting expectations play a special role. This has bearing on how to understand partnerships and contracts.Promises; partnership; contract theory; behavioral economics; hidden action; moral hazard; lies; social preferences; psychological game theory; guilt aversion; reciprocity; fairness

Promises Promises

In the classical general equilibrium model, agents keep all their promises, every good is traded, and competition prevents any agent from earning superior returns on investments in financial markets. In this paper I introduce the age-old problem of broken promises into the general equilibrium model, and I find that a new market dynamic emerges. Given the legal system and institutions, market forces of supply and demand will establish the collateral levels which are required to secure promises. Since physical collateral will typically be scarce, these collateral levels will be set so low that there is bound to be some default. Many kinds of promises will not be traded, because that also economizes on collateral. Scarce collateral thus creates a mechanism for determining endogenously which assets will be traded, thereby helping to resolve a long standing puzzle in general equilibrium theory. Finally, I shall show that under suitable conditions, in rational expectations equilibrium, some investors will be able to earn higher than normal returns on their investments. The legal system, in conjunction with the market, will be under constant pressure to expand the potential sources of collateral. This will lead to market innovation. I illustrate the theoretical points in this paper with some of my experiences on Wall Street as director of fixed income research at the firm of Kidder Peabody.

Promises, Promises: The States' Experience With Income Tax Indexing

The paper discusses five early approaches to the price (and quantity) index number problem. The five approaches are: (1) the fixed basket approach; (ii) the statistical approach; (iii) the test or axiomatic approach; (iv) the Divisia approach and (v) the economic approach. The economic approach makes use of the assumption of optimizing behavior under constraint and the approach is discussed under four subtopics: (i) basic theoretical definitions; (ii) the theory of bounds; (iii) exact index numbers and (iv) econometric estimation of preferences. The paper also discusses several topics raised by Jack Triplett in a recent paper, including: (i) the merits of the test approach to index number theory, (ii) the chain principle and alternatives to it; (iii) the substitution bias and (iv) the new good bias. Although the paper is for the most part an extensive historical survey, there are a few new results in section 8 on multilateral alternatives to the chain principle. Also in section 6.3, it is shown that the Paasche, Laspeyres and all superlative indexes will satisfy the circularity test to the first order.

The nature of libertine promises in Laclos's Les 'Liaisons Dangereuses

This article suggests that the libertines Valmont and Merteuil privilege promises because their futural orientation implies a godlike control of people and events, and because promises offer the possibility of being broken, of further pleasure to be derived from transgression. Moreover, it demonstrates how promises constitute paradoxical markers of the interlocutor's desire, rather than the speaker's sincerity; a desire that the libertines expertly exploit, although they too can fall victim to this dynamic. The article concludes with a consideration of why promises are made to be broken in Les Liaisons dangereuses, focusing on the absence of patriarchal figures in the text

Campaign Promises and Political Factions

This paper builds a dynamic model of electoral competition with nonbinding campaign promises. We find that campaign promises by a candidate for office signal her political preferences and public policy that she intends to implement. The reason is that electoral competition induces her to pander campaign promises to political interests by a minimal majority of citizens. If their votes bring her in office, she has to raise them once again in order to be re-elected. For that, she needs to fulfill her electoral promises. To minimize the cost of pandering to re-election if in office, a candidate gives campaign promises that she would like to fulfill the most. She fulfills them if in office, unless the cost of fulfillment lies above the benefit from re-election. We show, furthermore, that representatives by a minimal majority of citizens form a faction to coordinate their electoral strategies, and we investigate the consequences of such political collusion.Electoral promises, pork-barrel politics, political parties

Forty Acres and Unfulfilled Promises

As part of the English 101.003 Writing Seminar taught by Dr. Anne Porter in Fall 2015 at Providence College, this essay was written in response to an assignment to articulate a central question about slavery reparations. The essay explores the question from various angles and makes reference to Justice: What’s the Right Thing to Do? by Michael J. Sandel, “The Case for Reparations” from The Atlantic (June 2014) by Ta-Nehisi Coates, as well as at least one additional, scholarly source. The essay is written for college-age readers, who are interested in the issue and asking the same questions. Abstract: In response to escalating racial tensions in American society, this essay analyzes the feasibility of reparations for racial injustices. As evidenced by historic orders like ³Forty Acres and a Mule², the government has failed to fulfill its promises to pay, only further perpetuating inequality. There is controversy as to whether reparations are still due and how they can be quantified. This essay evaluates the present-day value of these historic unfulfilled promises and assesses if this valuation could be used as a solution to the reparations debate. If America is able to quantify the value of reparations, the question remains whether it is the duty of modern-day American citizens to right the wrongs of the past