infonet-economy

People often face preferential decisions under risk. To further our understanding of the cognitive processes underlying these preferential choices, two prominent cognitive models, decision field theory (DFT; Busemeyer & Townsend, 1993) and the proportional difference model (PD; González-Vallejo, 2002), were rigorously tested against each other. In two consecutive experiments, the...

Contrary to expectations, evidence of a death of distance has eluded numerous estimations in the popular gravity model of trade: estimates of the coefficient of distance are markedly higher in studies with recent data. This column shows that this is only so for the poorer countries who are trading with geographically closer partners. This regionalization of trade for low-income...

The “distance effect” measuring the elasticity of trade flows to distance has been to be rising since the early 1970s in a host of studies based on the gravity model, leading observers to call it the “distance puzzle”. We review the evidence and explanations. Using an extensive data set of 124 countries over the period 1970-2005, we confirm the existence of this puzzle and identify...

This article shows that judicial review has a democratic justification, although it is not necessary for democratic government and its virtues are controversial and often speculative. Against critics likeWaldron and Bellamy, it shows that judges, no less than legislators, can embody democratic forms of representation, accountability and participation.Hence, judicial review is not...

This talk is concerned with the role of democracy in preventing terrorism, identifying and apprehending terrorists, and in minimising and alleviating the damage created by terrorism. Specifically, it considers the role of democracy as a resource, not simply a limitation, on counter-terrorism.