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We show that every tilting module of projective dimension one over a ring  R  is associated in a natural way to the universal localization    at a set    of finitely presented modules of projective dimension one. We then investigate tilting modules of the form   . Furthermore, we discuss the relationship between universal localization and the localization    given by a perfect Gabriel topology   . Finally, we give some applications to Artin algebras and to Prüfer domains.

Tilting modules and universal localization