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How people learn from mistakes on an example of weather lores
Skála, Jakub ; Schwarz, Jiří (advisor) ; Šolc, Jan (referee)
The work deals with the empirical research of informal institutions. The aim was to determine on the basis of the verification of weather lores whether our null hypothesis is valid. Our null hypothesis is as follows: known weather lores have a higher success rate of forecast than unknown weather lores. We worked on the assumption, that in the general awareness remain mainly weather lores that works (passed on from generation to generation as a result of long-term learning process). That should have clarified whether not working weather lores are used any more. We verified weather lores on the basis of hydro- meteorological data for the period 1972-2002. We used several measure criteria. Each criteria was tested with Student's t-test. For all criteria, we observed that at the 5% level of significance we could not reject the hypothesis of equal values of known and unknown weather lores. It was not confirmed our hypothesis that known weather lores have a higher success rate of predictions. That means there is no development of informal institutions in the context of informal institutions on the basis of our empirical research. Keywords weather lores, formal institutions, informal institutions, development of informal institutions, categorical evaluation of weather forecast
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Misallocation of Human Capital: The Austrian Perspective
Skala, Jakub ; Lebovič, Michal (advisor) ; Bobková, Božena (referee)
Higher education is often considered as one of the safest and most profitable investments in human capital. There are, however, signals that this sector has been experiencing unsustainable economic boom in the United States. This study examines the ability of Austrian Business Cycle Theory to explain the possibility of such boom, i.e. to explain the potential systematic errors in the allocation of human capital. We find that respective allocation is driven by the similar market forces as the allocation of physical capital and hence, that it may fall victim to the same, or similar false market signals, thus creating the cycle of boom and bust. Credit expansion in the sector of student loans can be the trigger then. Furthermore, we study the actual development in this sector and find that empirical evidence provides many reasons to believe that there has actually been unsustainable boom i.e. an economic bubble in the sector of post-secondary education in the United States.
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International legal recognition of Bosnia-Herzegovina and Kosovo
Skala, Jakub ; Tejchman, Miroslav (advisor) ; Šindelář, Jan (referee)
This seminar paper addresses the issue of international recognition of the state of Bosnia and Herzegovina and Kosovo. The work is based on the application of pre-defined criteria of statehood on specific cases and their comparison. The result is confirmation of the hypothesis that neither of these states do not meet the requirements for recognition of statehood under international law. The seminar paper with the benefit of hindsight validates previous findings and summarizes the abnormal development of the Balkan Peninsula and it stimulates further research in the future.
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Influence of German Bundestag Elections on the Stock Market Performance in Visegrad Group Countries
Skála, Jakub ; Horváth, Roman (advisor) ; Chytilová, Julie (referee)
This thesis deals with the behaviour of stock markets during the period of election process. We focus on the influence of elections to the German Bundestag on stock market performance of the countries allied in Visegrad Group during the reference period 1994-2013 covering six Bundestag elections. Germany is a major export partner for all members of Visegrad Group - the Czech Republic, Hungary, Poland and Slovakia. We examine whether there are abnormal returns on stock markets in Visegrad Group countries around the date of German Bundestag elections. We thus examine if the fact that performance of German economy is important for performance of economies of countries allied in Visegrad Group means that Bundestag elections influences their stock markets. We also analyze the influence of elections to German Bundestag on domestic stock market during the reference period 1961-2013. To measure the effect of elections we employ event study methodology using the mean-adjusted return model to measure normal returns. Our event window consists of 65 trading days around the election day (-15,50). We use the estimation window of 100 days (-150,-51). We assess our main hypothesis for each country around every Bundestag elections in our reference period separately over three event windows and also over eight event...
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Misallocation of Human Capital: The Austrian Perspective
Skala, Jakub ; Lebovič, Michal (advisor) ; Bobková, Božena (referee)
Higher education is often considered as one of the safest and most profitable investments in human capital. There are, however, signals that this sector has been experiencing unsustainable economic boom in the United States. This study examines the ability of Austrian Business Cycle Theory to explain the possibility of such boom, i.e. to explain the potential systematic errors in the allocation of human capital. We find that respective allocation is driven by the similar market forces as the allocation of physical capital and hence, that it may fall victim to the same, or similar false market signals, thus creating the cycle of boom and bust. Credit expansion in the sector of student loans can be the trigger then. Furthermore, we study the actual development in this sector and find that empirical evidence provides many reasons to believe that there has actually been unsustainable boom i.e. an economic bubble in the sector of post-secondary education in the United States.
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International legal recognition of Bosnia-Herzegovina and Kosovo
Skala, Jakub ; Tejchman, Miroslav (advisor) ; Šindelář, Jan (referee)
This seminar paper addresses the issue of international recognition of the state of Bosnia and Herzegovina and Kosovo. The work is based on the application of pre-defined criteria of statehood on specific cases and their comparison. The result is confirmation of the hypothesis that neither of these states do not meet the requirements for recognition of statehood under international law. The seminar paper with the benefit of hindsight validates previous findings and summarizes the abnormal development of the Balkan Peninsula and it stimulates further research in the future.
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Austrian Business Cycle Theory and Its Application to Modern Economic Crises
Skala, Jakub ; Janotík, Tomáš (advisor) ; Princ, Michael (referee)
Business cycle that appeared in the US between 2002 and 2009 caused serious economic turmoil which affects the economic development until today. This paper examines the ability of Austrian business cycle theory to explain the cycle. The theory claims that disequilibrium on market for loanable funds appears after monetary expansion. As a result, interest rate does not correspond to individuals' preferences, which induces distortion in relative prices, capital misallocation, and unsuitable structure of production. The inevitable market correction then incurs economic recession. First, the paper describes the methodological origins of the theory and then summarizes its main principles. The description of the US economy during the examined period follows. At the end, the theory is confronted with reality. Although there are some minor differences between predictions of the theory and the actual development of the US economy, it can be concluded that Austrian business cycle theory can help us explain the recent business cycle.
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How people learn from mistakes on an example of weather lores
Skála, Jakub ; Schwarz, Jiří (advisor) ; Šolc, Jan (referee)
The work deals with the empirical research of informal institutions. The aim was to determine on the basis of the verification of weather lores whether our null hypothesis is valid. Our null hypothesis is as follows: known weather lores have a higher success rate of forecast than unknown weather lores. We worked on the assumption, that in the general awareness remain mainly weather lores that works (passed on from generation to generation as a result of long-term learning process). That should have clarified whether not working weather lores are used any more. We verified weather lores on the basis of hydro- meteorological data for the period 1972-2002. We used several measure criteria. Each criteria was tested with Student's t-test. For all criteria, we observed that at the 5% level of significance we could not reject the hypothesis of equal values of known and unknown weather lores. It was not confirmed our hypothesis that known weather lores have a higher success rate of predictions. That means there is no development of informal institutions in the context of informal institutions on the basis of our empirical research. Keywords weather lores, formal institutions, informal institutions, development of informal institutions, categorical evaluation of weather forecast
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3D game development using jMonkeyEngine 3.0
Skála, Jakub ; Pavlíčková, Jarmila (advisor) ; Nagy, Jiří (referee)
The topic of this bachelor thesis is game development of three dimensional PC games using Java programming language and game engine jMonkeyEngine witch is built on Java. The goal is to present capabilities of this tool and also to determine whether the developers of the engine actually proved that Java is usable for making PC games. The first part is focused on jMonkeyEngine itself with its history and basic characteristics. Next part is the principles of working in a 3D environment a then specific properties and capabilities of jMonkeyEngine. Each chapter contains code samples which demonstrate the capabilities of this engine. In the end overall capabilities of designing 3D games in Java are summarized and jMonkeyEngine is compared to similar tools based on other programming languages.
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Modeling business processes
Skala, Jakub ; Řepa, Václav (advisor) ; Pálka, Jan (referee)
The diploma thesis deals with the theme of Modeling business processes with orientation to the metric process interface. The aim of the thesis is to design the architecture of metric, which enabled to construct type metrics of the process interface. Firstly, the reader is informed about the basic terms related to process modeling, process management and connection of strategy with metrics. The next part describes the architecture of metrics created, which is oriented to supporting the process management of the organization. The set of type metrics was chosen with consideration to the possibility of their placement on process interface. The set created in this manner should help to connect strategy with processes when implementing into organization. The last part of the thesis describes the practical application of knowledge obtained in the PARMA project. This project deals with the proposal and implementation of the process management into the Bureau of the Municipality of Prague 10. The thesis deals with two processes and the conclusions obtained in the theoretic part of the thesis are applied herein.
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