Free-space laser optical link simulation software

GDAF (Displays and Photonics Applications Group) in Electronics Technology Department at University Carlos III de Madrid develops a hardware-software application for a communications free-space optical link, in a Project with INSA corp. It aims to substitute the usual radio frequencies link, because of the increasing of bandwidth and the guarantee of privacity. Optics and electronics collaboration is searched

"Francisco Goldman's The Ordinary Seaman: The Spectralization of the Other and the Zombie”

This volume is the product of a joint effort to bring together critical views "from the Old World" on the field of American Studies. The contributors are leading Americanists working in Spanish academia who believe in the importance of working on American Studies from a multidisciplinary, inclusive perspective. The volume constitutes a testimony to the current state of research on American Studies in Spain, which occupies a key position in the transatlantic appreciation of the field. Ranging from Romanticism to Postmodernism, form the human to the post-human, from the Salem witchcraft trials to the Holocaust, from the Other to the Zombie, from fiction to history, from African-American slavery to Native-American reservations, from Spanish Unamunian philosophy to Whitmanesque poetry—to name just a few of the themes discussed in these pages—this entire volume is grounded on a transatlantic vision and dialogue, which has taken on great importance after the so-called "transatlantic turn." All in all, this book provides the critical gaze of the "expert outsider" who is able to offer a somewhat different but complementary point of view, which can only enrich the general appreciation of American Studies

How "Doing Business" jeopardizes institutional reform

Simplifying business formalization and eliminating outdated formalities is often a good way of improving the institutional environment for firms. Unfortunately, the World Bank’s "Doing Business" project is harming such policies by promoting a reform agenda that gives them priority even in countries lacking functional business registers, so that the reformed registers keep producing valueless information, but faster. Its methodology also promotes biased measurements that impede proper consideration of the essential tradeoffs in the design of formalization institutions. If "Doing Business" is to stop jeopardizing its true objectives and contribute positively to scientific progress, institutional reform and economic development, then its aims, governance and methodology need to change.Starting business, doing business, informal economy, company registers

Electronic titling: Potential and risks

Initiatives in electronic conveyancing and registration show the potential of new technologies to transform such systems, reducing costs and enhancing legal security. However, they also incur substantial risks of transferring costs and risks among registries, conveyancers and rightholders, instead of reducing them; entrenching the private interests of conveyancers, instead of increasing competition and disintermediating them; modifying the allocation of tasks in a way that leads in the long term to the debasement of registries of rights with indefeasible title into mere recordings of deeds; and empowering conveyancers instead of transactors and rightholders, which increases costs and reduces security. Fulfilling the promise of new technologies in both costs and security requires strengthening registries’ incentives and empowering rightholders in their interaction with registries.Electronic Conveyancing, Electronic Registration, Lawyers, Notaries, Digital Signatures

Property enforcement as organized consent

This article develops and tests a theory of the institutions that make property rights viable, ensuring their enforcement, mobilizing the collateral value of assets and promoting growth. In contrast to contractual rights, property rights are enforced in rem, being affected only with the consent of the right holder. This ensures enforcement but is costly when multiple, potentially colliding rights are held in the same asset. Different institutions reduce the cost of gathering consents to overcome this trade-off of enforcement benefits for consent costs: recording of deeds with title insurance, registration of rights and even a regimen of purely private transactions. All three provide functionally similar services, but their relative performance varies with the number of transactions, the risk of political opportunism and regulatory consistency. The analysis also shows the rationality of allowing competition in the preparation and support of private contracts while requiring territorial monopoly in recording and registration activities, this to ensure independence and protect third parties.Transaction costs, property rights, real estate, land titles, recording, registration

Market and institutional determinants in the regulation of conveyancers

Demand for law professionals in the conveyancing of property is decreasing because of market and institutional changes. On the market side, many transactions feature large, well-known parties and standardized transactions, which make professionals less effective or necessary for protecting the parties to private contracts. On the institutional side, public titling makes it possible to dispense with a broadening set of their former functions. Recording of deeds made professionals redundant as depositories of deeds and reduced demand for them to design title guarantees. Effective registration of rights increasingly substitutes professionals for detecting title conflicts with third parties and gathering their consent. Market changes undermine the information asymmetry rationale for regulating conveyancing, while institutional changes facilitate liberalizing not only conduct but also license regulations. These arguments are supported here by disentangling the logic of titling systems and presenting empirical evidence from the European and USA markets.Lawyers, notaries, property rights, real estate, transaction costs

The quasi-judicial role of large retailers: An efficiency hypothesis of their relation with suppliers

The paper explores an efficiency hypothesis regarding the contractual process between large retailers, such as Wal-Mart and Carrefour, and their suppliers. The empirical evidence presented supports the idea that large retailers play a quasi-judicial role, acting as "courts of first instance" in their relationships with suppliers. In this role, large retailers adjust the terms of trade to on-going changes and sanction performance failures, sometimes delaying payments. A potential abuse of their position is limited by the need for re-contracting and preserving their reputations. Suppliers renew their confidence in their retailers on a yearly basis, through writing new contracts. This renovation contradicts the alternative hypothesis that suppliers are expropriated by large retailers as a consequence of specific investments.Retailing, distribution, contracts, transaction costs, self-enforcement

Pitfalls to avoid when measuring institutions: Is "Doing Business" damaging business?

Over recent years, both governments and international aid organizations have been devoting large amounts of resources to “simplifying” the procedures for setting up and formalizing firms. Many of these actions have focused on reducing the initial costs of setting up the firm, disregarding the more important role of business registers as a source of reliable information for judges, government departments and, above all, other firms. This reliable information is essential for reducing transaction costs in future dealings with all sorts of economic agents, both public and private. The priorities of reform policies should therefore be thoroughly reviewed, stressing the value of the legal institutions rather than trivializing them as is often the case.Starting business, doing business, informal economy, company registers