Functionalism, co-operation, good faith, and the making of the "daily-preventive justice" in contract law theory and practice. A contribution to a rational understanding of good faith and to its future reseasonable developments. Evaluations from

The thoughts and observations contained in this paper were first presented in a preliminary form at the Staff Seminar that I gave at the University of Cape Town (UCT) - Department of Private Law, on Tuesday May 8 2012. The organizers generously offered me a free choice of subject. Such an offer always poses a problem to imaginative people like myself. I finally chose as my subject the role of good faith in contract law theory and practice and then entitled the Seminar “Good Faith & Contracts - Brothers in Arms”. The aim of the talk was to briefly describe what I see behind the doctrine of good faith (and, more broadly, behind the general course of the parties’ behavior before and after the conclusion of an agreement), to then explain the need of its protection and future reasonable developments by challenging the limitations of both traditional and current legal approaches to contract law theory and practice. By adopting a comparative modus investigandi, it emerged that especially in the area of contract law a new law-finding process is emerging in the European continent and it is leading to re-conceive the meta-national legislative interventions by challenging the limits of Hobbes’s Leviathan. As asserted, we ought to not take this process for granted because although there are many forms of social organization, contract is the most pervasive and the law of contract still is the most important vehicle to support and supplement private arrangements. However, the point of departure for theorizing about private law is based on experience. Consequently, despite the growing emphasis on the convergence of national legal systems in Europe, conducting research on private law theory and practice requires that imagination and creativity be matched with prudence. Proficiency has to be aligned with what we have learned from history.

Estimating Forward Pricing Function: How Efficient is Indian Stock Index Futures Market?

This paper uses Indian stock futures data to explore unbiased expectations and efficient market hypothesis. Having experienced voluminous transactions within a short time span after its establishment, the Indian stock futures market provides an unparalleled case for exploring these issues involving expectation and efficiency. Besides analyzing market efficiency between cash and futures prices using cointegration and error correction frameworks, the efficiency hypothesis is also investigated after explicitly modeling the underlying state of the market (expansion or contraction) through the first-order Markov switching set-up. The results based on Markov switching analysis show that relatively longer time horizon is more effective in eliminating arbitrage opportunities than the short run.

Estimating cointegrated panels with common factors and the forward rate unbiasedness hypothesis

This article proposes a bias-adjusted estimator for use in cointegrated panel regressions when the errors are cross-sectionally correlated through an unknown common factor structure. The asymptotic distribution of the new estimator is derived and is examined in small samples using Monte Carlo simulations. For the estimation of the number of factors, several information-based criteria are considered. The simulation results suggest that the new estimator performs well in comparison to existing ones. In our empirical application, we provide new evidence suggesting that the forward rate unbiasedness hypothesis cannot be rejected. © The Author 2007.

Rethinking the employer's summary dismissal power in the employment contract

 The principal subject of this thesis is the employer’s summary dismissal power under Australian contract law. Summary dismissal is by far the most brutal way that an employment relationship may end. Its suddenness can have long-lasting economic and psychological impacts upon the dismissed employee. However, the area has been neglected in legal scholarship. The result of this is that issues arising from the jurisprudence have not been the subject of critique and scrutiny, until now. This thesis addresses this gap in the scholarship. The thesis also proposes a new approach to resolving these disputes based on the proportionality concept. An employer's decision to dismiss its employees in this way should be commensurate to the detriment caused by the employee's actions. Therefore, one 'should not use a sledgehammer to crack a nut.'

ANGEL: agent-based scheduling for real-time tasks in virtualized clouds

The success of cloud computing makes an increasing number of real-time applications such as signal processing and weather forecasting run in the cloud. Meanwhile, scheduling for real-time tasks is playing an essential role for a cloud provider to maintain its quality of service and enhance the system's performance. In this paper, we devise a novel agent-based scheduling mechanism in cloud computing environment to allocate real-time tasks and dynamically provision resources. In contrast to traditional contract net protocols, we employ a bidirectional announcement-bidding mechanism and the collaborative process consists of three phases, i.e., basic matching phase, forward announcement-bidding phase and backward announcement-bidding phase. Moreover, the elasticity is sufficiently considered while scheduling by dynamically adding virtual machines to improve schedulability. Furthermore, we design calculation rules of the bidding values in both forward and backward announcement-bidding phases and two heuristics for selecting contractors. On the basis of the bidirectional announcement-bidding mechanism, we propose an agent-based dynamic scheduling algorithm named ANGEL for real-time, independent and aperiodic tasks in clouds. Extensive experiments are conducted on CloudSim platform by injecting random synthetic workloads and the workloads from the last version of the Google cloud tracelogs to evaluate the performance of our ANGEL. The experimental results indicate that ANGEL can efficiently solve the real-time task scheduling problem in virtualized clouds.

Cost-effective authentic and anonymous data sharing with forward security

Data sharing has never been easier with the advances of cloud computing, and an accurate analysis on the shared data provides an array of benefits to both the society and individuals. Data sharing with a large number of participants must take into account several issues, including efficiency, data integrity and privacy of data owner. Ring signature is a promising candidate to construct an anonymous and authentic data sharing system. It allows a data owner to anonymously authenticate his data which can be put into the cloud for storage or analysis purpose. Yet the costly certificate verification in the traditional public key infrastructure (PKI) setting becomes a bottleneck for this solution to be scalable. Identity-based (ID-based) ring signature, which eliminates the process of certificate verification, can be used instead. In this paper, we further enhance the security of ID-based ring signature by providing forward security: If a secret key of any user has been compromised, all previous generated signatures that include this user still remain valid. This property is especially important to any large scale data sharing system, as it is impossible to ask all data owners to re-authenticate their data even if a secret key of one single user has been compromised. We provide a concrete and efficient instantiation of our scheme, prove its security and provide an implementation to show its practicality.