But the bond industry rules may also show how limits can be circumvented.
Francesco is also interested in how limits to arbitrage affect asset markets.
It shows how limits on extracted steam flows truncate a significant part of the theoretical possibility set in an extraction-condensing turbine.
In that sense, pirate governance, peculiar as it may sound, offers an intriguing example of how limits on executive power can actually make an enterprise more successful and, because workers are convinced they're being treated fairly, can deepen their commitment.
The Carnegie team has explored how limits on North Korea's nuclear and missile program might be verified, given the lack of modern infrastructure in that country and its poor record-keeping.
Experiences like that have convinced the F.C.C. that phone and Internet companies should make their contracts and usage limits easier to decipher, clearly spelling out how limits can be reached and instructing customers on how to know when new, steeper fees are likely to apply.
