Re-engineering Sources of Law for Unaided Litigants

The better models of e-Gov posit high levels of informational communication between citizen and state. Unfortunately, in one area, that communication has traditionally been poor: that is, access to sources of law. There have been a number of reasons for this, but a primary one has been that law was historically mediated for the citizen by the legal profession. This situation is changing with ever increasing numbers of unrepresented litigants being involved at all levels of national court systems in each and every country as well as a generally higher level of intrusion of legislation into everyday home and business life. There have been attempts to improve access through internet based services, but these have improved communication (‘understanding of law’) to only a limited extent. It may be time, this article suggests, to consider re-engineering legal sources so that they better fit the needs of eGov.

SLA Brokering and Bandwidth Reservation Negotiation Schemes for QoS-aware Internet

We present a novel Service Level Agreement (SLA)-driven service provisioning architecture, which enables dynamic and flexible bandwidth reservation schemes on a per-user or per-application basis. Various session level SLA negotiation schemes involving bandwidth allocation, service start time and service duration parameters are introduced and analyzed. The results show that these negotiation schemes can be utilized for the benefit of both end users and network providers in achieving the highest individual SLA optimization in terms of key Quality of Service (QoS) metrics and price. The inherent characteristics of software agents such as autonomy, adaptability and social abilities offer many advantages in this dynamic, complex, and distributed network environment especially when performing Service Level Agreements (SLA) definition negotiations and brokering tasks. This article also presents a service broker prototype based on Fujitsu's Phoenix Open Agent Mediator (OAM) agent technology, which was used to demonstrate a range of SLA brokering scenarios.

Trading Activity in Options and Stock Around Price-Sensitive News Announcements

This study investigates the trading activity in options and stock markets around informed events with extreme daily stock price movements. We find that informed agents are more likely to trade options prior to negative news and stocks ahead of positive news. We also show that optioned stocks overreact to the arrival of negative news, but react efficiently to positive news. However, the overreaction patterns are unique to the subsample of stocks with the lowest pre-event abnormal option/stock volume ratio (O/S). This finding suggests that the incremental benefit of option listing is related to the level of option trading activity, over and beyond the presence of an options market on the firm's stock. Finally, we find that the pre-event abnormal O/S is a better predictor of stock price patterns following a negative shock than is the pre-event O/S, implying that the former may contain more information about the future value of stocks than the latter.