Farm Development in Tay Nguyen Economic Region: Specificity of Formation and Development

The development level of businesses and their competitiveness has a significant effect on the growth of an economic region. The improvement in comparative advantage for regional social and economic development will contribute to the strengthening and expanding possibilities for farm owners as well as to encouraging the authorities of the province to pay a special attention to an accelerated farm transformation in the agriculture of Tay Nguyen region. Farm economy development is considered to be an inevitable trend and its effectiveness does not rely too much on laws and market practice but on the understanding of the regional structure taking into account the demands and peculiarities of this economic agent. Using the methods of descriptive statistics and the analysis of secondary data, this paper is devoted to the analysis of the essence of farm economy of Tay Nguyen region. A special place has analysis of the theoretical basis of economic zones and the identification of comparative advantages of the region in farming development. The results of this empirical research aim to discover the specificity of formation and development of farm economy in the Tay Nguyen region nowadays.

Is the Consumer Welfare Obsolete? A European Union Competition Law and Competition Perspective

In 2005, the European Commission advocated for a more economic approach to enforcing competition laws. The sole criterion for assessing the lawfulness of a market practice should be the appraisal of its net effect on consumer welfare. The Court of Justice was reluctant to adopt such an approach until its 2017 Intel Judgment. Its endorsement—which is debatable insofar as the judgment may give rise to different interpretations—may appear paradoxical in that it is concomitant with a sharp challenge to the consumer welfare criterion in the United States. The purpose of this article is to retrace the history of this criterion, particularly its adoption in the context of EU competition law. We aim to show that the criticisms of the effects-based approach can be addressed not by moving away from the consumer welfare criterion but by integrating it into a broader perspective that also takes into account the protection of the competition process itself.

Quantifying the Role of Occurrence Losses in Catastrophe Excess of Loss Reinsurance Pricing

The aim of this paper is to merge order statistics with natural catastrophe reinsurance pricing to develop new theoretical and practical insights relevant to market practice and model development. We present a novel framework to quantify the role that occurrence losses (order statistics) play in pricing of catastrophe excess of loss (catXL) contracts. Our framework enables one to analytically quantify the contribution of a given occurrence loss to the mean and covariance structure, before and after the application of a catXL contract. We demonstrate the utility of our framework with an application to idealized catastrophe models for a multi-peril and a hurricane-only case. For the multi-peril case, we show precisely how contributions to so-called lower layers are dominated by high frequency perils, whereas higher layers are dominated by low-frequency high severity perils. Our framework enables market practitioners and model developers to assess and understand the impact of altered model assumptions on the role of occurrence losses in catXL pricing.

Technology Transfer Steps Towards the Commercialization of Research Results for Universities

Apart from educating students and conducting scientific research, technology transfer (TT) is the third “mission pillar” of modern universities. TT from universities to business as a source of innovations and inventions is, on the one hand, an important factor in socio-economic development, on the other hand, it generates income for universities and, by creating links with market practice, also affects their scientific development and quality of teaching. However, due to its complexity and due to the pluralism and heterogeneity of the approaches involved in TT processes at a country (or even regional) level, participation is a difficult challenge for the academic community. In the article the main factors influencing TT between universities and business are identified and a relevant process emphasizing into the requirements of universities being freshmen in this field is presented. In the frame of the current work a two-fold approach was applied: (a) a literature collection and review were undertaken aiming at identifying TT-related methods, tools, procedures and best practices across universities at an international level and (b) an detailed analysis of the TT-related procedures at the four European universities participating in the study.

MENGHADIRKAN TEKS-TEKS AUTENTIK DALAM KELAS BIPA DARING

Indonesian that taught as the foreign language in BIPA (Indonesian for Foreigners) classes and its authenticity are inseparable. Authenticity is related to the originality. In the context of BIPA learning, the authenticity can be presented in class activities related to contexts and real experiences, for examples students are asked to shop at the market, practice to bargain, practice to use public transportations, practice how to introduce themselves, interview native speakers, and many other authentic tasks. However, what makes it challenging today is that BIPA students cannot come directly to Indonesia and the learning process should be conducted online. Nonetheless, the authenticity can be still presented in authentic texts, not only in written but also in spoken. In addition, texts have complete thinking structures and understandings. Before presenting them in the class, teachers should understand the texts, situation context, culture context, authenticity, and types of text. The author also analyzes Graduate Competency Standards (SKL) of BIPA to identify types of text based on student’s level. Keywords: texts, situation contex, culture contex, authenticity, types of texts

Part II The New EU Prospectus Rules, 14 The New Advertisement RegimeWhat a Difference a Word Makes?

This chapter focuses on advertisements. The advertisement regime under the new EU prospectus rules will not have a huge impact on the EU capital markets. As a result of the Prospectus Regulation there will be one set of rules which apply equally throughout the EU, although as of yet supervision will remain decentralized with the risk of diverging interpretations. The chapter predicts a market practice to develop as to which type of communications will be (deemed) in-scope for the definition of advertisements and which type of communications will be (deemed) out of scope, which market practice will, where applicable, be supported and/or developed by the European Securities and Markets Authority (ESMA). This is based on the assumption that the change in the definition of the word ‘announcement’ to ‘communication’ in the Prospectus Regulation does not significantly alter the scope of the advertisements regime, which is also the view of the European Commission.

Health Services as Credence Goods: a Field Experiment

Agency problems are a defining characteristic of healthcare markets. We present the results from a field experiment in the market for dental care: a test patient who does not need treatment is sent to 180 dentists to receive treatment recommendations. In the experiment, we vary the socio-economic status of the patient and whether a second opinion signal is sent. Furthermore, measures of market, practice and dentist characteristics are collected. We observe an overtreatment recommendation rate of 28% and a striking heterogeneity in treatment recommendations. Furthermore, we find significantly fewer overtreatment recommendations for patients with higher socio-economic status compared with lower socio-economic status for standard visits, suggesting a complex role for patients’ socio-economic status. Competition intensity, measured by dentist density, does not have a significant influence on overtreatment. Dentists with shorter waiting times are more likely to propose unnecessary treatment.