The Galileo Project put to the test of European competition and public procurement law

The following article throws some light on the (fragile) legal foundations of the Galileo Project, the European Satellite Navigation System, and gives an interpretation of the normative procurement rules of the EU. Additionally it tries to reveal the practical problems of upholding the principle of free competition and an open market in as much as the procurement of high technology concerns a highly olipolistic market.     

A note on the maximum revenue tariff

This note attempts to prove that the maximum revenue tariff when the tariff revenue is measured in units of the exportable good will be higher than the maximum revenue tariff when the tariff revenue is measured in units of the importable good.     

Research note: Implications of differing perceptions in emerging European management styles

Discrepancies between Eastern and Western perceptions remain the first challenge Western managers are faced with when seeking to invest in Eastern Europe. Brushing aside local cultures and erasing differences might foster misunderstandings and prevent genuine economic cooperation. Factors such as exaggerated centralization, insufficient motivation towards profit, unsuitable internal organization, risk aversion, unrecognized Human Resource Management (HRM), and lack of conflict management are at the root of the differences in Eastern and Western perceptions. In emerging European markets, management as a whole is influenced widely by foreign styles, but imposed models are rejected and a specific managerial culture blending local features is developing. Through this development, which will remain country specific, emerging Eastern values will shape the political, social, industrial, and cultural environment underlying economic institutions. © 2000 John Wiley & Sons, Inc.     

A European perspective on public debt

Public debt in Europe has risen continuously over the last two decades. How is the transition to European Economic and Monetary Union, with the increasing economic interdependence between individual member states which it involves, likely to affect this situation? Which policy issues are of particular relevance in this setting?     

A note on tariffication strategy cases in telecommunications

The tariff policy of a telecommunication operator has a strategic importance on achieving optimal revenues and a fundamental impact on its position in the competition with other operators on the liberalised telecommunication market. The payment for a connection through a telecommunication network may be determined by a rate for one call unit, by the duration of the call unit and their count during a call. An operator derives the rate and the duration of the call unit from a detailed analysis of large databases that contain statistical data on counts and duration of particular calls depending on the type of call. Usually only the operator knows these data files and keeps them confidential. In this note we show how it is possible to estimate revenues from telecommunication traffic only knowing a set of basic parameters.     

A note on completeness in large financial markets

We study completeness in large financial markets, namely markets containing countably many assets. We investigate the relationship between asymptotic completeness in the global market and completeness in the finite submarkets, under a no-arbitrage assumption. We also suggest a way to approximate a replicating strategy in the large market by finite-dimensional portfolios. Furthermore, we find necessary and sufficient conditions for completeness to hold in a factor model.     

斯巴鲁全新小型车Stella日本市场隆重发售

2006年6月，世界级运输及航空相关产品制造商、斯巴鲁汽车牛产厂商富士重工业株式会社（FHI）于日本东京隆重推出斯巴鲁旗下全新设计的小型车Stella＊（星辰），并于6月起在日本上市发售。