Lode Vereeck

The affordability of sustainable entrepreneurship certification for SMEs

Sustainable entrepreneurship is a spin-off concept from sustainable development that can be defined as the continuing commitment by business to behave ethically and contribute to economic development while improving the quality of life of the workforce, their families, local communities, society and the world at large, as well as future generations. This is an approach that is applied mostly by large, often industrial companies. In their wake, a whole range of sustainability certificates have come about. Because of the proliferation of complex and costly procedures to obtain them, SMEs have almost unanimously ignored and repudiated the idea of sustainable entrepreneurship. Although the gains can be substantial in terms of risk control, business relationships with large companies and positive reputation, the question is raised whether SMEs can actually afford to do business in a sustainable manner. The case study provides the preconditions for implementation of sustainable business practices by SMEs. First, the smaller financial resources of SMEs are not a prohibitive determinant. Lack of time, however, is. When preconditions are solved, SMEs should select a simple, pragmatic and effective format that is tailored to their needs. The case study offers some convincing examples. Finally, SMEs should look at the return and the opportunity costs of a sustainability strategy rather than simply examining the financial costs.

An Economic Theory of Court Delay

Delay undermines the performance of courts around the world. Its implications and possible solutions, however, are not so widely understood. The assessment of the efficiency of delay as a rationing mechanism requires a general theory, which looks at the effect on the number of conflicts, suits, settlements and trials. The outcome is somewhat disturbing: delay may be socially beneficial, but the assumptions seem prohibitively strict. The policy implications are that court delay is best reduced via increases in court fees and improvements in legislative and judicial quality.

Future of nanomedicine: obstacles and remedies

The future of nanomedicines is undermined by the lack of financial profitability, consumer distrust, ineffective regulation of new and generic products, weak patent protection and insurance market failure. Its economic breakthrough is dependent on a series of countervailing measures and actions. Success requires more investment induced by cost-effectiveness analyses and business plans based on clinical data, public education based on nanotoxicology studies, smart regulatory reform in the areas of testing, market entry and liability, effective and strategic patenting, patent dispute prevention and resolution, and innovative insurance policies.

Valuing the Prevention of Road Accidents in Belgium

Abstract In a recent international comparison of the social costs of road accidents, Trawén et al. (2003) noted that cost data are not available for Belgium and, by consequence, play no part in Belgian policy‐making. The purpose of the present paper is, therefore, to value the costs per casualty type and per accident in Belgium. Empirical data are provided on human and economic production losses as well as on direct accident costs such as medical costs, hospital visiting costs, accelerated funeral costs, property damage, administrative costs of insurance companies, litigation costs, police and fire department costs, and congestion costs. In Belgium the marginal unit value of preventing a road casualty is estimated at €2 004 799 per fatal casualty, €725 512 per seriously injured and €20 943 per slightly injured victim. The unit cost per accident amounts to €2 355 763, €850 033, €34 944 and €2571 for fatal, serious, slight injury and property damage only accidents, respectively. These results are consistent with valuations reported in other high‐income countries. Finally, the total costs of road accidents in 2002 are valued at €7.2 billion (2004 prices), or 2.6% of gross domestic product.

An Empirical Analysis of Case Disposition Time in Belgium

Abstract This paper analyzes the determinants of case disposition times in Belgian first instance courts by exploiting a unique dataset of 174 court cases. Unlike previous studies, our analysis focuses mainly on case-level determinants. Regression results show that the use of expert assessments on average prolongs overall disposition time by 902 days. Furthermore, the number of pleadings, as a proxy of case complexity, also significantly impacts the duration of trials. Additionally, results indicate that case outcomes, such as settlements or plaintiff wins, are significant determinants of case duration. In addition to case-level characteristics, our results indicate that two civil procedure reforms aimed at accelerating adjudication led to a major decrease of case duration in Belgian first instance courts.

Cost–effectiveness of gemcitabine versus PEGylated liposomal doxorubicin for recurrent or progressive ovarian cancer: comparing chemotherapy with nanotherapy

This article examines the cost-effectiveness of chemotherapy (gemcitabine) versus nanotherapy (PEGylated liposomal doxorubicin) in the treatment of ovarian cancer. Significant differences in costs were mainly due to the initial drug costs, which were €1285.28 in favor of chemotherapy. These costs were more than offset by hospitalization costs, which were €2670.21 in favor of the nanotherapy. The cost per quality-adjusted life week (QALW) for the nanotherapy was estimated to be €220.92/QALW for the base case and ranged from €170-318/QALW based on model assumptions. The clinical benefit associated with nanotherapy was achieved, yielding not only positive cost-effectiveness results, but also, surprisingly, financial savings. Although more studies are necessary, this first comprehensive analysis supports the further use of nanotherapy for ovarian cancer.

Assessing the need for quality-adjusted cost–effectiveness studies of nanotechnological cancer therapies

New therapies, such as nanotechnology-based cancer treatments, typically entail high acquisition costs. Their use can be justified, however, by their superior cost-effectiveness. This article assesses the quality of cost-effectiveness analyses of nanotechnological cancer therapies by screening nine major studies. They conclude that nanotherapies are cost effective for the treatment of ovarian and breast cancer, as well as multiple myeloma, but not for other types of cancer. However, these studies have some serious methodological flaws. Typically, the results are not quality adjusted, although both length and quality of life are affected. Moreover, only fragmented direct medical costs are included, neglecting indirect costs that impose a significant economic burden on patients and society. Finally, cost definitions differ widely making any comparison between studies virtually impossible. This article concludes that economic research of nanotechnology-based therapeutics is still in its infancy. It warns that incomplete economic analysis may lead to inefficient policy recommendations.

The impact of effective patents on future innovations in nanomedicine

The success of nanomedicine is dependent upon an effective protection of IP rights. Unfortunately, the US nanomedicine patent system is dysfunctional because long R&D procedures as well as the patent pendency are insufficiently taken into account. This could be solved by changing the patent-protection starting point and increasing the capacity of the US PTO. The nanotechnology industry also suffers from overlapping patents. This could be avoided by improving the expertise of the PTO, using a more accurate definition of nanotechnology and devising a generally accepted nomenclature that enhances prior-art searches. To avoid disputes, inference practices and strategic patenting can be used. In the case of a dispute, parties can fall back on re-examination, cross-licensing and patent litigation. Cross-licensing agreements are recommended since they allows parties to access technology, create synergies and exclude third-party competitors. Solving the patent problems in the nanotechnology industry is a necessary step for future success.

A More Sustainable Urban Transport System: The Case of Tradable Entry Permits

In this paper, a system of tradable entry permits (TEP) is designed using the methodology developed by Harrison. One tradable permit enables one car/truck to enter the city center during one working day and applies for all private cars and trucks driving into Antwerp between 7 a.m. and 8 p.m. All citizens of Antwerp, older than 15, are assigned a number of free permits. Furthermore, an auction is set up for non-residents and freight traffic. After evaluating the system, it was found that TEP offers citizens a lot of freedom in choosing how to meet the reduction goal. Furthermore, the system provides a lot of flexibility to policy makers because the cap can be adjusted over time. TEP also give an incentive for citizens to search for other, more sustainable means, of transportation, such as carpooling or using public transport. Compared to other road pricing systems, tradable permits are more effective and cost efficient. The cap ensures the effectiveness of the system while the tradability guarantees the cost-effectiveness. Compared to existing cordon pricing systems, the same technology is used which proves that technology will not preclude the use if TEP.

The impact of no-fault compensation on health care expenditures: An empirical study of OECD countries

Around the world, governments are faced with spiralling health care expenditures. This raises the need for further insight in the determinants of these expenditures. Existing literature focuses primarily on income, ageing, health care financing and supply variables. This paper includes medical malpractice system characteristics as determinants of health spending in OECD countries. Estimates from our regression models suggest that no-fault schemes for medical injuries with decoupling of deterrence and compensation reduce health expenditures per capita by 0.11%. Furthermore, countries that introduced a no-fault system without decoupling of deterrence and compensation are found to have higher (+0.06%) health care spending.