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Procrastination under Cooperation
Procházka, Šimon ; Janotík, Tomáš (advisor) ; Maršál, Aleš (referee)
In this paper focusing on the subject of procrastination I have aimed on the pheno- menon I noticed during studies of microeconomics course at IES, when the finished homework papers were submitted usually two hours before deadline. And I would like to clarify, what role played procrastination and its expectation in submitting of the homeworks and what part played cooperation between students during soluting of these homeworks, this means how much is procrastination result of this common waiting game, where students are taking already completed parts of solution, and if this game is actually happening. This topic I am trying to answer with the tools of game theory. Keywords Procrastination Game theory Equilibrium refinement Cooperation Group dy- namics 1
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Economic Aspects of Blood Donation
Hanus, Luboš ; Janotík, Tomáš (advisor) ; Kukačka, Jiří (referee)
Sufficient blood supply is a continuous problem for health care systems around the world. The diversity of systems is also manifested as different methods of compensation and motivation of donors. During the last century the different types of compensation and motivation have brought about various high probabilities of transmission of infectious diseases. The goal of this thesis is to provide a sufficient description of donors' motivations in the Czech Republic and elsewhere. The first part aims to compare the risk of financially compensated blood donors and those who are not compensated. The second part gives a description of characteristics of the sample donors from the Institute of Hematology and Blood Transfusion in Prague. A probit model is used to analyse the sensitivity of donors to two benefits provided by the state, these benefits are either a paid working day-off on the day of donation or the possibility of deduction of 2000 CZK from one's taxable income for each donation.
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Post-Petition Financing in Corporate Insolvency Proceedings
Koudelka, Martin ; Richter, Tomáš (advisor) ; Janotík, Tomáš (referee)
The thesis examines the topic of debtor-in-possession financing, also called post-petition financing, in insolvency law. After a brief characteristic of law and economics methodology, ground theoretical requirements for legal rules of debtor-in-possession financing, as a mean of loan financing of businesses of a debtor in bankruptcy, are formulated in the first place. Next, the Czech Law of post-petition financing, above all regulated under the no. 182/2006 Coll., Insolvency Act, as amended, is analysed, considering its economic effectiveness in respect to transaction costs from the point of view of the subjects. Next part of the thesis focuses on comparison between the Czech Law of debtor-in-possession financing and the same law in the United States of America, where the post-petition financing is regulated under the Title 11 of the Code of Laws of the United States of America. Implications are made from the American Law for the possible future progress of the Law in the Czech Republic. In the end, a possible linear model for testing of expediency of accepting debtor-in-possession financing for the pre-petition creditors of the bankrupt debtor is designed.
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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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Ideas of hedonism and stoicism implemented in today's world of economy
Djikanovic, Ivana ; Janotík, Tomáš (advisor) ; Eckertová, Eva (referee)
The main motivation for this work was to show that economy cannot be explained just by economy. Many other sciences are essential for understanding economic processes and models of behavior. This paper presents the proven relations between the philosophy, economics and psychology. The study of different economic concepts requires development of an extensive network of connections between humans on the one side, and their social needs and behavior on the other side. The starting point is the return in the time of Ancient Greeks, with whose theoretical approaches can be explained the majority of person's actions. This paper uses theoretical analyses to assess the impact of the "passions and interests", hedonic happiness and stoic self-interest on the economic policy and individuals. Through the gently presented forms of hedonism, this work deals with different theories such as theory of modern consumerism, marginal utilitarianism, preference theory, theory of rational allocation. The data gathered in the form of publication analysis, little psychological experiments and real life examples serve to test the hypothesis of the direct relationship between hedonistic impacts on economic theory. The two research questions are dealing with mastery of passions and interest in the economic behavior as well as with the...
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Sustainability of the pension reform in Slovakia
Lišková, Martina ; Janotík, Tomáš (advisor) ; Dózsa, Martin (referee)
This paper explores the sustainability of pension system in Slovakia on the local institutional, socio- economic and political background, analyzing the past and current reforms and their impact on public finance. In the first, theoretical part of the paper, the World Bank strategy is sketched out to provide general framework for sustainability of reforms and their goals, and actual past reforms that took place in Slovakia from 2004 until present are dissected. These reforms are most notable for their reorientation from pure pay-as-you-go system to combined PAYG and fully funded system. While this step alleviates the crushing implicit social security debt to some extent, it is shown that not even the latest reforms alone will suffice to cover the increasing burden of the pension system on public spending. Therefore, in the empirical part of the paper, several parametric reforms are proposed and are analyzed from long term perspective (until 2100) using the World Bank PROST economic model. These scenarios approximately represent some of the reforms currently on the table that could be carried out in the near future. The varying inputs are retirement age, the contribution rate for the fully funded system, the replacement rate, the affiliation rate and the type of valorization, with the output being...
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Is trust in economy neglected unjustly?
Lipták, Michal ; Janotík, Tomáš (advisor) ; Cahlík, Tomáš (referee)
This thesis is seeking theoretical background as well as statistical evidence of links between classical and institutional economy by connecting their typical phenomena, specifically the notion of trust from the theory of transaction costs and the notion of return velocity of money from the quantity theory of money. It proves, that trust in the mainstream economy actually is omitted unjustly, for there is a strong statistical correlation between trust and real, as well as nominal, outcome. This conclusion is notable despite that there was not found any definite empirical evidence that this correlation is caused by effect of trust on return velocity of money. Furthermore, the thesis is attempting to find determinants affecting the level of trust like ethnic and religious disunity of the nation, but attempts to find their effect have failed. Keywords: trust, institutional economy, classical economy, return velocity of money, tribes
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Vliv struktury sourozenců na dětskou práci a školní docházku
Korbel, Václav ; Chytilová, Julie (advisor) ; Janotík, Tomáš (referee)
In scholarly literature the impact of sibling structure is commonly examined in connection with child health and school attendance. The aim of my bach- elor thesis is to determine what influence has the particular sibling structure on child labor, which is not studied so often, and the school attendance re- lated to the subject. The first part dwells on models of resource allocation within household and description of basic mechanisms regarding the method in which the structure of siblings influences resource allocation within house- hold. Main emphasis is laid on theoretical model with household production. Hypothesis about effect of sibling structure is then empirically tested using data from two African countries - Sierra Leone and Niger. Based on this analysis, it is possible to conclude that particular structure of siblings do not have fundamental influence on recourse allocation within household. Last but not least, reasons of differences between chosen countries are discussed in the conclusion.
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Impacts of the Czech natural gas market liberalisation
Karas, Pavel ; Vyležík, Tomáš (advisor) ; Janotík, Tomáš (referee)
This bachelor thesis deals with the liberalisation of the gas market. In the first part, the European Union is studied along with its attitude to liberalisation processes. History of liberalisation is mentioned as well as last findings, opinions and European gas market characteristics. Second part deals with the description of the development of gas pricing mechanism. Third part focuses on the process of liberalisation in the Czech Republic. At the end, the industrial and household data from 2001 to 2011 are analysed.
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