A Note on the Social versus Private Value of Suits when Care is Bilateral

This paper re-examines the social versus private value of lawsuits when both injurers and victims can take care. The basic conclusions of that literature remain valid in this context: the private and social values generally differ, and there is no necessary relationship between them, meaning that there may be either too many or too few suits. Introducing the possibility of victim care does, however, alter the calculation of the deterrent effect of lawsuits. In particular, because allowing suits tends to reduce the incentives for victims to invest in precaution, the social value of prohibiting suits increases in direct relation to the productivity of victim care in lowering accident risk.

The Social versus Private Incentive to Sue

The private value of lawsuits is based on plaintiffs' expected recovery at trial compared to their filing costs, whereas the social value consists of the incentives suits create for injurers to invest in accident avoidance. Generally, there is no relationship between these two values: there may be either too many or too few suits from a social perspective. Thus, there is scope for corrective measures, although there is no simple policy. Extending the model to consider a negligence rule rather than strict liability, and to allow for pretrial settlements, leads to some modified conclusions but does not alter the basic insights.

The closed union shop versus the open shop: their social and economic value compared,

At head of title: National Industrial Conference Board. Prize Essays, 1919-1920.

The Meanings of New Money: Social Constructions of Value in the Rise of Digital Currencies

Thesis (Ph.D.)--University of Washington, 2016-07

Hypercapitalism: New media, language, and social perceptions of value

Every day trillions of dollars circulate the globe in a digital data space and new forms of property and ownership emerge. Massive corporate entities with a global reach are formed and disappear with breathtaking speed, making and breaking personal fortunes the size of which defy imagination. Fictitious commodities abound. The genomes of entire nations have become corporately owned. Relationships have become the overt basis of economic wealth and political power. Hypercapitalism explores the problems of understanding this emergent form of global political economic organization by focusing on the internal relations between language, new media networks, and social perceptions of value. Taking an historical approach informed by Marx, Phil Graham draws upon writings in political economy, media studies, sociolinguistics, anthropology, and critical social science to understand the development, roots, and trajectory of the global system in which every possible aspect of human existence, including imagined futures, has become a commodity form.

Hypercapitalism: Language, new media and social perceptions of value

Using examples from contempoary policy and business discourses, and exemplary historical texts dealing with the notion of value, I put forward an argument as to why a critical scholarship that draws on media history, language analysis, philosophy and political economy is necessary to understand the dynamics of what is being called 'the global knowledge economy'. I argue that the social changes associated with new modes of value determination are closely associated with new media form.

On information and competition in private value auctions

How much information does an auctioneer want bidders to have in a private value environment?We address this question using a novel approach to ordering information structures based on the property that in private value settings more information leads to a more disperse distribution of buyers updated expected valuations. We define the class of precision criteria following this approach and different notions of dispersion, and relate them to existing criteria of informativeness. Using supermodular precision, we obtain three results: (1) a more precise information structure yields a more efficient allocation; (2) the auctioneer provides less than the efficient level of information since more information increases bidder informational rents; (3) there is a strategic complementarity between information and competition, so that both the socially efficient and the auctioneer s optimal choice of precision increase with the number of bidders, and both converge as the number of bidders goes to infinity.

Evolution, société, éthique : darwinisme social versus éthique évolutionniste

L'éthique évolutionniste (EE) est une branche de la philosophie morale à la fois fascinante et génératrice de craintes, qui considère les mécanismes darwiniens et les données évolutives sur la socialité animale et humaine comme pertinents pour une réflexion éthique. Ce courant de pensée est souvent mal compris ; beaucoup de lecteurs critiques l'associent au darwinisme social et au cortège d'horreurs qu'il a servi à justifier. Il vaut cependant la peine de résister à la tentation de réduire l'EE au darwinisme social et de chercher à analyser objectivement l'intérêt d'adopter une approche évolutionnaire en éthique. L'objet de cet article est de 'dédiaboliser' l'EE tout en explorant ses limites. Je commencerai par mentionner deux manières d'intégrer un raisonnement darwinien dans le domaine des sciences politiques et sociales: le darwinisme social et ce que l'on pourrait appeler le darwinisme pro-social. Je mettrai ensuite en évidence les erreurs fondamentales sur lesquelles repose le darwinisme social afin de montrer qu'il n'est pas possible aujourd'hui pour un éthicien évolutionniste de défendre les idées propres à ce courant (à moins de faire preuve de malhonnêteté intellectuelle). Au contraire, l'EE semble s'approcher davantage de l'état d'esprit du darwinisme pro-social sans pour autant s'y assimiler car elle restreint sa réflexion au niveau de l'éthique théorique. Dans un second temps, il s'agira de présenter en quoi consiste précisément l'EE, quels sont ses domaines de réflexion, et quelle est sa pertinence au niveau des différents domaines de l'éthique. Une focale particulière sera mise sur les questions de la genèse de la moralité et du passage délicat des faits aux normes.

Représentations sociales et représentations intimes de la maladie. Quelques réflexions d'un clinicien [Social and private representations of cancer. A clinician's point of view]

This paper discusses social representations in scientific communications and private ones that are linked to the individual imagination. Social representations, in a limited sense, are useful for the development of preventive messages, but of little benefit to clinical work. We highlight some non-explicit aspects of scientific discourse that impact on treatment: projected beliefs and values. We tackle the relationship between the concepts of representation, imagination, identity and temporality in the individual approach of the cancer patient.

Abstract types and distributions in independent private value auctions

In this note, in an independent private values auction framework, I discuss the relationship between the set of types and the distribution of types. I show that any set of types, finite dimensional or not, can be extended to a larger set of types preserving incentive compatibility constraints, expected revenue and bidder’s expected utilities. Thus for example we may convexify a set of types making our model amenable to the large body of theory in economics and mathematics that relies on convexity assumptions. An interesting application of this extension procedure is to show that although revenue equivalence is not valid in general if the set of types is not convex these mechanism have underlying distinct allocation mechanism in the extension. Thus we recover in these situations the revenue equivalence.

Public versus private provision of infrastructure in a neoclassical growth model

This article studies the welfare and long run allocation impacts of privatization. There are two types of capital in this model economy, one private and the other initially public (“infrastructure”). A positive externality due to infrastructure capital is assumed, so that the government could improve upon decentralized allocations internalizing the externality, but public investmentis …nanced through distortionary taxation. It is shown that privatization is welfare-improving for a large set of economies and that after privatization under-investment is optimal. When operation inefficiency in the public sectoror subsidy to infrastructure accumulation are introduced, gains from privatization are higherand positive for most reasonable combinations of parameters.

The Polish Jew : his social and economic value

by Beatrice C. Baskerville