We offer the first direct evidence of an implicit contract in a goods market. The evidence comes from the market for Coca-Cola. We demonstrate that the Coca-Cola Company left a written evidence of its implicit contract with its consumers—a very explicit form of an implicit contract. The...

Text presented at the 19ª Asamblea Anual del Grupo Regional de América Latina y el Caribe (GRULAC), of the World Savings Banks Institute, La Habana, Cuba, 4-5 November 2013. It mentions some of the more recent international reform initiatives in particular those linked to the Basel Committee...

This document describes the main issues of the New Basel Accord, highlights the roles and organization of the Basel Committee on Banking Supervision (BCBS) and the Bank for International Settlements (BIS), and offers some arguments against some of the criticism that has been voiced against the...

This paper analyzes how The Jones Act, a maritime law that effectively closes the United States’ coastal shipping routes to foreign firms, impacts the economic welfare of domestic ocean transport consumers. Though it has long been speculated that the Act is economically detrimental to the...

In the past decades, the number of sources of pollution has increased and their consequences on the lives of humans, plants, and animals are ever more alarming. Numerous personalities in the entire world draw the attention on the present unprecedented aggression against the environment. Romania,...

Language plays a fundamental role in the fight against HIV and AIDS in Kenya. Moreover, language is important in the dissemination of information that would ensure the success of both prevention and treatment of any disease. English language is used as the main language of communication on HIV...

This article deals with current developments concerning the regulation of telecommunication in Europe (e. g. Mobile Termination Rates, Roaming). It argues that current regulation is led by political aims and less by economic theory. National regulatory authorities should have more competences to...

The importance of invoking national interest and dispute over natural resources has increased in direct proportion to the growing importance of these resources and decrease inversely with quantity. A dull but intense battle at this point characterizes natural resource, especially of oil and...

Law no. 105/2012, without comprehensive claims, establishes special rules applicable to national experts on secondment to the European Union institutions and bodies. Based on regulations adopted in the field of EU officials and national experts on secondment normative act adopted domestically...

This paper discusses the SEC's regulation of the bond rating industry. Until a few years ago this specific branch of SEC regulation was largely unknown outside the agency and the bond rating industry itself, even among knowledgeable Washington insiders. But the SEC has actually regulated the...