Differential Delivery Dates, Retrievability and the Incentives Compatibility of Contracts
Differential delivery dates (D3) of contract obligations characterize most contracts in real life. D3 puts the contractor who delivers last, in the words of David Hume (1769), in “a position of advantage” because reneging on his/her obligation can be profitable.
Native trees and national development
This is the time of year when many of our countrymen troop to the churches and through national highways for a vacation to cooler places. The summer heat brings to mind the shade and comfort that trees provide. As I write, I have with me three weighty materials on the subject of native trees.
Tragedy of wasted political capital
In an unfortunate twist of fate, going into the final year of his presidency, Mr. Aquino’s high political capital has been virtually dissipated.
