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The cost of photovoltaic subsidies in UK, Greece and Slovakia
Turko, Dominik ; Zajíček, Miroslav (advisor) ; van Koten, Silvester (referee)
This MA thesis deals with the cost of photovoltaics subsidies in selected European countries. It consists of theoretical and applied sections. The theoretical one provides a brief history of photovoltaic technology and gives a short account of the attitude of European Union towards its support. In the applied part the promotion schemes used in Slovak Republic, Greece and the United Kingdom are described and the total costs of these schemes are estimated based on the best available predictions of future development. The total costs are then computed by adding the support promised. The total costs are estimated to amount to 3,5 bn EUR in Slovakia, 16 bn. EUR in Greece and 13 bn. EUR in the UK.
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Sázení na loterie a sportovní události z pohledu behaviorální ekonomie
Mikulka, Jakub ; Koblovský, Petr (advisor) ; van Koten, Silvester (referee)
This thesis deals with the relationship between mood and behavior of bettors using a dataset provided by a betting company, Chance a.s., which operates in the Czech Republic. We consider three types of proxies for the mood: weather in regions, sport successes and the results of elections, and we build a fixed effect model to estimate the effect of mood on betting behavior. We provide strong evidence that the weather proxy has a significant effect on daily turnovers of the betting company and there also seems to be an effect of sport optimism. On the contrary, we failed to find any impact of elections. The results show that better mood tend to discourage clients from sports and lottery betting which is consistent with the increase in risk aversion or the depletion of a common self-control resource due to active mood regulation attempts. Additionally, we provide an evidence that the intra-month cycle in turnovers corresponds to liquidity constraint of bettors which disproves the permanent income hypothesis.
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Znamená příjetí eura zdražování? Experimentální studie z České republiky
Bohumínský, Roman ; van Koten, Silvester (advisor) ; Zajíček, Miroslav (referee)
In the euro area, the changeover to the euro was accompanied by fears of increases in prices by consumers. However, in most countries the changeover had barely any effect on inflation indices, but a significant effect on perceived inflation and even now people still believe that the price increase was more dramatic than it was in reality. This paper examines the situation in the Czech Republic, being one of the last countries in the EU which have not adapted the euro yet. I am especially interested in finding whether a changeover would lead to price increases even though Czech citizens have got plenty of time to indirectly familiarize with the euro currency. The analysis is based on a laboratory experiment. With this method I am studying the effects of transition to euro on consumer behavior. In addition, I compare the results (indirectly) with those of other European countries. Under the framework of posted price experiment, it can be concluded that, in the particular sample, the changeover to euro currency does in fact affect the outcome of trade at least temporarily. In this case, the changeover from CZK to EUR leads to elevation of prices and reduction of the traded quantities, especially right after the changeover. The main reason for this is that the producers (sellers) tried to exploit the changeover situation in order to increase their profits. All the presented results are significant at 5% level.
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Regulation and self-regulation in financial intermediation
Palusková, Jitka ; Ježek, Tomáš (advisor) ; van Koten, Silvester (referee)
The diploma thesis focuses on the problems of regulation of financial intermediaries and reviews the contemporary situation in the financial market of the Czech Republic. In the introductory part subjects that can provide financial services and circumstances under which these services are possible are defined. The introduction also outlines the framework for controlling, its planned development, state institutions supervising this process and the up-to-date state of self-regulation by the financial intermediaries themselves. The main part of the thesis is devoted to contemporary key topics in the field (mis-selling, providing of misleading or incomplete information, reinsurance, promotion of excessive trading, low expertise, reward system etc.), supervision by the state and the attitude of financial intermediaries to these activities.. The aim of the thesis is to find a functional relationship between the set of rules defined by legislation and the internal self-regulatory system of the financial intermediaries.
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Analysis of the impact of electricity generation from wind on investment activities of CEPS’s company, assessment of the impact of these investments on the Czech economy
Krchová, Eva ; Vostrovská, Zdenka (advisor) ; van Koten, Silvester (referee)
The aim of master thesis is to analyze the impact of electricity generation from wind on investment activities of CEPS's company, and also to assess the impact of these investments on the Czech economy. The work familiarizes readers with reasons for the development of the transmission system in the Czech Republic, with the concept of blackout and also with apparatus of assessing the impact of investment on the economy of the selected state -- input-output model analysis. The method used to obtain data for this work is based on the literature review, as well as expert advice on the input-output model, consultation with the experts in CEPS and the data provided by them. The theoretical part deals with Czech transmission system, and it is followed by the development of wind energy construction and the problems associated with it, with blackout and readiness of the Czech Republic to the possible failure in electricity supply. In the practical part, there are measures that are built in order to prevent the risk of blackouts in the Czech Republic, there is a more detailed examination of the Plan of development and rehabilitation of Czech transmission system, and there is also described the process of construction of analytical input-output apparatus for analyzing the impact of CEPS's development investments on the Czech economy, approximated by GDP.
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