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What would be the most realistic and most effective preventative measure to handle situations such as the Eldridge case where the man fell of the

What would be the most realistic and most effective preventative measure to handle situations such as the Eldridge case where the man fell of the balcony in New Orleans while "mooning" the crowds.
Close off all balconies during Mardi Gras.
Hire extra security to monitor guests.
Make guests sign a liability waiver wen they check in.
Post signs telling people they assume risk if they sit on the balconies.
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