abstract:The precedence effect or law of the first wavefront is a binaural psychoacoustic effect. When a sound is followed by another sound separated by a sufficiently short time delay (below the listener's echo threshold), listeners perceive a single fused auditory image; its perceived spatial location is dominated by the location of the first-arriving sound (the first wave front).
The new insurance law, expected to take effect next month, will force policyholders, who in bankruptcy proceedings take precedence over holders of subordinated debt, to lose out first.