Transfer fee regulations in European football

We analyze the impact of three different transfer fee systems on payoffs, contract lengths, training and effort incentives in European football. The different regimes, being used until 1995 (“pre-Bosman”), currently in use (“Bosman”), and recently approved (“Monti”) differ with respect to the transfer fee an initial club is entitled to depending on whether a player has a valid contract or not. We show that the different systems differ only with respect to the contract length if the contract which maximizes the expected joint surplus of the initial club and the player is feasible under each system. Otherwise, regime P is strictly dominated by regime B in terms of expected social welfare. Regime M leads to higher effort but lower incentives to invest in training compared to system B.     

The Impact of Transfer Fees on Professional Sports: An Analysis of the New Transfer System for European Football*

We evaluate the effect of the recently approved transfer system for European professional football which will replace the current system (implemented by the Bosman judgment in 1995). The focus is on the comparison of wages, profits, the length of contracts and investment incentives. Our main findings are that (i) the new regime reduces a player's overall payoff because it increases the new club's renegotiation payoff, and (ii) since training generates a general skill, the new regime will also diminish incentives to invest in the education of young talents, because a new club benefits more from the initial club's investment.     

Photovoltaic water pumping in developing areas — A case study

Provision of adequate water supplies is probably the most keenly felt need in rural developing areas. Much time which is at present used in collecting water could be used far more productively if water was pumped where this was appropriate. However, many pumping systems are inappropriate for developing areas because of their high maintenance requirements and complexity. Photovoltaic (solar‐electric) pumping provides an attractive alternative: in addition to having low maintenance requirements, it is convenient and environmentally sound. However, tt has two major disadvantages: (i) it has a high initial cost; and (ii) it is an inherently high risk option as expensive equipment is necessarily placed in the open with little natural protection. This paper is based on a case study of a photovoltaic water pump installed in a community vegetable garden in KwaZulu. The study examined the effect of the pump on the garden's productivity, the economic competitiveness of PV pumping with dlesel and electric pumps, the suitability of PV pumping to the community, the attitudes of the gardeners to PV pumping and possible methods of financing PV pumps for disadvantaged communities.     

Technology,community and water supply: Case studies in KwaZulu and Transkei

The collection of water for domestic use In rural areas is a critical problem throughout the underdeveloped world. Traditional surface water sources are often far from the household, provide poor quality water and are susceptible to the effects of drought or dry periods. Village water supply schemes that have been implemented in KwaZulu and Transkei are evaluated according to their ability to provide an adequate and reliable supply of good quality water and reduce the burden of water collection. It is concluded that the inadequacy and unreliability of handpump schemes in KwaZulu, and the unreliability of windpump schemes in Transkei is due to inappropriate technology choices and the failure of water supply planners in these areas to address the community context of water supply schemes. The community considerations that must be taken into account include the establishment of communication links between villages and administrative services, the water needs of the community and the provision of village level servicing and maintenance facilities for appropriate water supply technologies.     

Management strategies of multinationals in developing countries

To what extent do American, Japanese and European multinationals follow different management strategies in developing countries? What effects do these strategies have on the developing countries involved? The free trade zones in Malaysia offer a seldom opportunity to compare companies from all three geographical areas operating under homogeneous conditions.     

Leibniz’ versicherungswissenschaftliche Schriften im Überblick

Leibniz intensively occupied himself with questions of insurance cover, justice in financial transactions, population development, old-age pension, national debt. In 2000, his fifty most important studies of these subjects we-re published in a bilingual edition for the first time. This article provides an outline of his methods and results.     

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Institute of Engineering and Computational Mechanics, University of Stuttgart, Stuttgart, Germany