19,481 research outputs found
Insurance Policies: The Grandparents of Contractual Black Holes
In their recent article, The Black Hole Problem in Commercial Boilerplate, Professors Stephen Choi, Mitu Gulati, and Robert Scott identify a phenomenon found in standardized contracts they describe as “contractual black holes.” The concept of black holes comes from theoretical physics. Under the original hypothesis, the gravitational pull of a black hole is so strong that once light or information is pulled past an event horizon into a black hole, it cannot escape. In recent years, the theory has been reformulated and now the hypothesis is that some information can escape, but it is so degraded that it is virtually useless. In their article, Choi, Gulati, and Scott apply the black hole concept to certain standardized contractual boilerplate provisions. Although the focus of their article is on the contractual black hole nature of pari passu clauses that are used in sovereign debt contracts, Choi, Gulati, and Scott note that “[s]tandard insurance contracts appear to be another area with the potential for terms that have lost meaning.” They are correct that insurance policies are an area in which contractual black holes would appear quite likely to develop. In this essay, to test the hypothesis that insurance policies potentially are, or contain, contractual black holes, four policy provisions found in commercial insurance policies are considered: 1) “Sue and Labor” Clauses, 2) “Ensuing Loss” Clauses, 3) “Non-Cumulation” Clauses, and 4) the “Sudden and Accidental” Pollution Exclusion. An examination of these provisions demonstrates that some policy provisions have become contractual black holes, some provisions are only apparent contractual black holes, and other provisions on their way to becoming contractual black holes were saved before the original meaning of such provisions crossed the event horizon
FARM PRICE ESTIMATION WHEN THERE IS BARGAINING: THE CASE OF PROCESSED FRUIT AND VEGETABLES
Raw product prices for many processed fruits and vegetables are determined in part as an outcome of negotiations between processors and farmer bargaining associations. In such cases, unique market equilibrium solutions may not exist. This study develops a framework for price prediction under bargaining and applies it to the California cling peach industry. The price prediction equation turns out to involve the same variables as would a model specified for perfect competition. Hence a mistaken assumption about the structure of competition may still provide a model that predicts well, provided the structure remains constant.Demand and Price Analysis, Marketing,
Buoyant Venus station mission feasibility study for 1972 and 1973 launch opportunities. Volume 2 - Trajectory analysis for 1972 and 1973 missions Final report
Trajectory analysis for 1972 and 1973 buoyant Venus station missio
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Specialist nurses' perceptions of inviting patients to participate in clinical research studies: a qualitative descriptive study of barriers and facilitators
BACKGROUND: Increasing the number of patients participating in research studies is a current priority in the National Health Service (NHS) in the United Kingdom. The role of specialist nurses in inviting patients to participate is important, yet little is known about their experiences of doing so. The aim of this study was to explore the perceptions of barriers and facilitators held by specialist nurses with experience of inviting adult NHS patients to a wide variety of research studies.
METHODS: A cross-sectional qualitative descriptive study was conducted between March and July 2015. Participants were 12 specialist nurses representing 7 different clinical specialties and 7 different NHS Trusts. We collected data using individual semi-structured interviews, and analysed transcripts using the Framework method to inductively gain a descriptive overview of barriers and facilitators.
RESULTS: Barriers and facilitators were complex and interdependent. Perceptions varied among individuals, however barriers and facilitators centred on five main themes: i) assessing patient suitability, ii) teamwork, iii) valuing research, iv) the invitation process and v) understanding the study. Facilitators to inviting patients to participate in research often stemmed from specialist nurses' attitudes, skills and experience. Positive research cultures, effective teamwork and strong relationships between research and clinical teams at the local clinical team level were similarly important. Barriers were reported when specialist nurses felt they were providing patients with insufficient information during the invitation process, and when specialist nurses felt they did not understand studies to their satisfaction.
CONCLUSION: Our study offers several new insights regarding the role of specialist nurses in recruiting patients for research. It shows that strong local research culture and teamwork overcome some wider organisational and workload barriers reported in previous studies. In addition, and in contrast to common practice, our findings suggest research teams may benefit from individualising study training and invitation procedures to specialist nurses' preferences and requirements. Findings provide a basis for reflection on practice for specialist nurses, research teams, policymakers, and all with an interest in increasing patient participation in research
AN E-V ANALYSIS OF PRICING ALTERNATIVES FOR LONG-TERM MARKETING CONTRACTS
Demand and Price Analysis, Marketing,
DEMAND AND PRICE-MARKUP FUNCTIONS FOR CANNED CLING PEACHES AND FRUIT COCKTAIL
This study formulates and estimates a six-equation model for canned cling peaches and fruit cocktail in which processors are viewed as price setters, with qualities not sold at the set price carried over to the next year. The system consists of two price-markup equations, two quantity-dependent demand equations and two inventory change identities. The three-stage least squares estimation results tend to support the behavioral hypotheses.Demand and Price Analysis,
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