Property titling and conveyancing

This chapter analyzes titling institutions and the regulation of supporting conveyancingservices. After examining the tradeoff of enforcement benefits and consent costs posed byproperty rights, it explains how different public titling systems (privacy, recording andregistration) try to solve this tradeoff, and what the consequences are for the nature andregulation of private conveyancing services. The chapter ends with a discussion of someempirical issues and data which are useful for comparing, designing and managing titlingand conveyancing systems.

Property enforcement as organized consent

This article develops and tests a theory of the institutions that makeproperty rights viable, ensuring their enforcement, mobilizing thecollateral value of assets and promoting growth. In contrast tocontractual rights, property rights are enforced in rem, being affectedonly with the consent of the right holder. This ensures enforcement butis costly when multiple, potentially colliding rights are held in thesame asset. Different institutions reduce the cost of gathering consentsto overcome this trade-off of enforcement benefits for consent costs:recording of deeds with title insurance, registration of rights and evena regimen of purely private transactions. All three provide functionallysimilar services, but their relative performance varies with the numberof transactions, the risk of political opportunism and regulatoryconsistency. The analysis also shows the rationality of allowingcompetition in the preparation and support of private contractswhile requiring territorial monopoly in recording and registrationactivities, this to ensure independence and protect third parties.

On the throughput-WIP trade-off in queueing systems, diminishing returns and the threshold property: A linear programming approach

We present a new unifying framework for investigating throughput-WIP(Work-in-Process) optimal control problems in queueing systems,based on reformulating them as linear programming (LP) problems withspecial structure: We show that if a throughput-WIP performance pairin a stochastic system satisfies the Threshold Property we introducein this paper, then we can reformulate the problem of optimizing alinear objective of throughput-WIP performance as a (semi-infinite)LP problem over a polygon with special structure (a thresholdpolygon). The strong structural properties of such polygones explainthe optimality of threshold policies for optimizing linearperformance objectives: their vertices correspond to the performancepairs of threshold policies. We analyze in this framework theversatile input-output queueing intensity control model introduced byChen and Yao (1990), obtaining a variety of new results, including (a)an exact reformulation of the control problem as an LP problem over athreshold polygon; (b) an analytical characterization of the Min WIPfunction (giving the minimum WIP level required to attain a targetthroughput level); (c) an LP Value Decomposition Theorem that relatesthe objective value under an arbitrary policy with that of a giventhreshold policy (thus revealing the LP interpretation of Chen andYao's optimality conditions); (d) diminishing returns and invarianceproperties of throughput-WIP performance, which underlie thresholdoptimality; (e) a unified treatment of the time-discounted andtime-average cases.

Concentration and self-censorship in commercial media

Within a simple model of non-localized, Hotelling-type competitionamong arbitrary numbers of media outlets we characterize qualityand content of media under different ownership structures. Assumingadvertising-sponsored, profit-maximizing outlets, we show that (i) topicssensitive to advertisers can be underreported (self-censored) by alloutlets in the market, (ii) self-censorship increases with the concentrationof ownership, (iii) adding outlets, while keeping the number ofowners fixed, may even increase self-censorship; the latter result relieson consumers' most preferred outlets being potentially owned by thesame media companies. We argue that externalities resulting fromself-censorship could be empirically large.

The effects of tax deductibility on the mix of property taxes and use charges: an empirical analysis of the spanish case

This paper tests some hypothesis about the determinants of the local tax structure. In particular, we focus on the effects that the property tax deductibility in the national income tax has on the relative use of the property tax and user charges. We deal with the incentive effects that local governments face regarding the different sources of revenue by means of a model in which the local tax structure and the level of public expenditure arise as a result of the maximizing behaviour of local politicians subject to the economic effects of the tax system. We attempt to test the hypothesis developed with data corresponding to a set of Spanish municipalities during the period 1987-9l. We find that tax deductibility provides incentives to raise revenues from the property tax but does not introduce a biass against user charges or in favor of overall spending growth

The effects of tax deductibility on the mix of property taxes and use charges: an empirical analysis of the spanish case

This paper tests some hypothesis about the determinants of the local tax structure. In particular, we focus on the effects that the property tax deductibility in the national income tax has on the relative use of the property tax and user charges. We deal with the incentive effects that local governments face regarding the different sources of revenue by means of a model in which the local tax structure and the level of public expenditure arise as a result of the maximizing behaviour of local politicians subject to the economic effects of the tax system. We attempt to test the hypothesis developed with data corresponding to a set of Spanish municipalities during the period 1987-9l. We find that tax deductibility provides incentives to raise revenues from the property tax but does not introduce a biass against user charges or in favor of overall spending growth

Warranties used as a mean to promote commercial FOSS

From a business standpoint, this paper describes the point of view on the question of warranties of a FOSS editor doing business in a risk-averse market segment. It is based on 15-years experience of AdaCore in the safety-critical embedded industry. However, it is not only the point of view of a provider, as it also aims at demonstrating that the interests of providers and users are aligned in this area. From a legal point of view, the enforceability of these warranties will be partly covered, as well as the articulation between the license and the warranties on one hand, and the articulation between the license and the other contracts that can be created in a business relationship on the other hand.

Does land titling matter? The role of land property rights in the war on illicit crops in Colombia

This paper analyzes the role of formalization of land property rights in the war against illicit crops in Colombia. We argue that as a consequence of the increase of state presence and visibility during the period of 2000 and 2009, municipalities with a higher level of formalization of their land property rights saw a greater reduction in the area allocated to illicit crops. We hypothesize that this is due to the increased cost of growing illicit crops on formal land compared to informal, and due to the possibility of obtaining more benets in the newly in- stalled institutional environment when land is formalized. We exploit the variation in the level of formalization of land property rights in a set of municipalities that had their rst cadastral census collected in the period of 1994-2000; this selection procedure guarantees reliable data and an unbiased source of variation. Using fixed effects estimators, we found a signicant negative relationship between the level of formalization of land property rights and the number of hectares allocated to coca crops per municipality. These results remain robust through a number of sensitivity analyses. Our ndings contribute to the growing body of evidence on the positive effects of formal land property rights, and e ective policies in the war on drugs in Colombia.

Improvement of the thermal performance of commercial freezers using phase change materials (PCM)

The aim of this work is to improve the thermal performance of commercial freezers using phase change materials (PCM) and the prove the importance of the correct PCM selection (melting temperature) for each application. To do this a vertical freezer with and without macro encapsulation PCM are used to assess the benefits of using PCM in minimizing temperature fluctuations and to maintain at the lowest possible temperature the freezer under heat of losses.

How hard is a commercial puzzle: the eternity II challenge

Recently, edge matching puzzles, an NP-complete problem, have received, thanks to money-prized contests, considerable attention from wide audiences. We consider these competitions not only a challenge for SAT/CSP solving techniques but also as an opportunity to showcase the advances in the SAT/CSP community to a general audience. This paper studies the NP-complete problem of edge matching puzzles focusing on providing generation models of problem instances of variable hardness and on its resolution through the application of SAT and CSP techniques. From the generation side, we also identify the phase transition phenomena for each model. As solving methods, we employ both; SAT solvers through the translation to a SAT formula, and two ad-hoc CSP solvers we have developed, with different levels of consistency, employing several generic and specialized heuristics. Finally, we conducted an extensive experimental investigation to identify the hardest generation models and the best performing solving techniques.

Broadband prices in the European Union : competition and commercial strategies

This paper analyses the determinants of broadband Internet access prices in a group of 15 EU countries between 2008 and 2011. Using a rich panel dataset of broadband plans, we show the positive effect of downstream speed on prices, and report that cable and fibre-to-the-home technologies are available at lower prices per Mbps than x DSL technology. Operators’marketing strategies are also analysed as we show how much prices rise when the broadband service is offered in a bundle with voice telephony and/or television, and how much they fall when download volume caps are included. The most insightful results of this study are provided by a group of metrics that represent the situation of competition and entry patterns in the broadband market. We show that consumer segmentation positively affects prices. On the other hand, broadband prices are higher in countries where entrants make greater use of bitstream access and lower when they use more intensively direct access -local loop unbundling-. However, we do not find a significant effect of inter-platform competition on prices.

Fast and economic immobilization methods described for non-commercial Pseudomonas lipases

There is an increasing interest to seek new enzyme preparations for the development of new products derived from bioprocesses to obtain alternative bio-based materials. In this context, four non-commercial lipases from Pseudomonas species were prepared, immobilized on different low-cost supports, and examined for potential biotechnological applications. Results: To reduce costs of eventual scaling-up, the new lipases were obtained directly from crude cell extracts or from growth culture supernatants, and immobilized by simple adsorption on Accurel EP100, Accurel MP1000 and Celite (R) 545. The enzymes evaluated were LipA and LipC from Pseudomonas sp. 42A2, a thermostable mutant of LipC, and LipI. 3 from Pseudomonas CR611, which were produced in either homologous or heterologous hosts. Best immobilization results were obtained on Accurel EP100 for LipA and on Accurel MP1000 for LipC and its thermostable variant. Lip I. 3, requiring a refolding step, was poorly immobilized on all supports tested ( best results for Accurel MP1000). To test the behavior of immobilized lipases, they were assayed in triolein transesterification, where the best results were observed for lipases immobilized on Accurel MP1000. Conclusions: The suggested protocol does not require protein purification and uses crude enzymes immobilized by a fast adsorption technique on low-cost supports, which makes the method suitable for an eventual scaling up aimed at biotechnological applications. Therefore, a fast, simple and economic method for lipase preparation and immobilization has been set up. The low price of the supports tested and the simplicity of the procedure, skipping the tedious and expensive purification steps, will contribute to cost reduction in biotechnological lipase-catalyzed processes.