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Essays on the Unbundling of Electricity Networks in the Eu an the USA: Theory and Empirics
Van Koten, Silvester ; Ortmann, Andreas (advisor) ; Leautier, Thomas-Olivier (referee) ; Kmenta, Jan (referee)
This Ph.D. dissertation focuses on a central question about regulation in the EU and US electricity markets: the effects of vertical integration of generation and transmission and distribution networks. I focus on the forms of vertical integration where the generation and network firms are partly separated, such as in a legal or organizational form. Such form of separation is called unbundling. In the first two papers, I develop theoretical models to analyze the economic effects of vertical integration under legal unbundling (firms are legally separated entities and have the same owner) relative to ownership unbundling (firms are legally separated entities and have different owners). Both papers have policy implications for the regulation of the EU and US electricity markets, and make new contributions to auction theory, especially toehold auctions. In the first paper I consider the legal unbundling of the network activities; in the second paper I consider the legal unbundling of both the network activities and the generation activity. In both papers I find theoretical evidence that, in terms of efficiency, legal unbundling gives results inferior to ownership unbundling. Furthermore, I find solutions for several cases of toehold auctions that have not been solved before and that I believe to be interesting....
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Integrace elektroenergetických trhů ve střední Evropě v právním rámci Energetické unie
Farkač, Pavel ; van Koten, Silvester (advisor) ; Pekárek, Štěpán (referee)
This paper examines the possibilities for further integration of day-ahead electricity market in Central Europe. The contemporary situation is locked due to the existence of the German-Austria bidding zone. However, compliance of this bidding zone with European legislative is questionable. Therefore, the author makes a thorough legal analysis to assess the compatibility of both analysed projects for market coupling with the recent legal development in the European Union. Further, the examined projects are technically deconstructed in order to evaluate their conformity or differences between each other as well as in relation towards the EU Target Model. It is assessed, that both projects are relatively well technically compatible, however, their merger is not possible until the definite and binding decision on the issue of German-Austrian bidding zone will be found.
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Estimation of the cost of photovoltaic subsidies - Italy, France and Belgium
Hromádka, Ondřej ; Zajíček, Miroslav (advisor) ; van Koten, Silvester (referee)
The purpose of the master theses is to estimate gross direct financial cost brought about by support schemes for electricity generation in photovoltaic power plants in France, Italy and Belgium. In order to understand support schemes, I deal with legislation of each particular country and with its development. Based on development of subsidies for photovoltaics and production of electricity of new instalations I determine the final amount of costs. Individual outputs are subsequently compared with data regarding the Czech Republic, Spain, Germany, UK, Greece and Slovakia.
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Estimating the impact of the 2012 liquor prohibition on crime
Krejsa, Jiří ; Dušek, Libor (advisor) ; van Koten, Silvester (referee)
This thesis focuses on capturing causal link between alcohol consumption and one of its externalities, crime. The quasi-natural experiment of the Czech temporary ban on hard liquor following an outbreak of methanol poisonings in September 2012 provides a valuable setting for evaluation of the alcohol-crime relationship. Over the course of the prohibition, violent crime rates fell by approximately 10 %, just like the aggregate of aggravated assault, criminal threatening, vandalism and property damage. In addition, the biggest share of reduction in crime falls on weekend criminality. The number of offenders under the influence of alcohol dropped by approximately 18 % for traffic-related offences and by 28 % in non-traffic offenses. The possibility of the reduction in crime being caused by lower detection capabilities of the law enforcement was examined. The reduction in reported cases of e.g. driving under the influence might be to a large extend explained by lower detection, but it could have reduced only rates of victimless crimes. Finally, the property crime rate was not significantly affected by the intervention, except for burglaries into bars and restaurants.
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"The Rebound Effect", Do improvements in energy efficiency lead to economy-wide reduction in energy consumption?
Stastny, Martin ; van Koten, Silvester (advisor) ; Chytilová, Helena (referee)
Improving energy efficiency is considered to be one of the means to successfully reduce energy consumption. At the same time improving energy efficiency implies that the real price for energy services will decrease and as a result will stimulate energy consumption whereas savings associated with higher energy efficiency will be partially diminished. This paradox is better known as the rebound effect. Additionally to a detailed definition of the direct rebound effect,this thesis establishes on the basis of existing researches that the price elasticity of demand for energy services plays a major role in terms of the extent of the rebound effect. Based on the triggers for the rebound effect, applicable policies are proposed and analyzed which can soften rebound effects - such as carbon tax, cap and trade system and standards and regulations. In this context most policies aim to increase the real price of energy services. This thesis concludes both that the existing energy efficiency policies are not adequately pursued and that energy efficiency technology should be fostered since it will also weaken rebound effects.
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Závislost oficiálních fotografii politických představitelů na formě vlád západního světa v letech 1821-2013
Vejvodová, Veronika ; Zajíček, Miroslav (advisor) ; van Koten, Silvester (referee)
I study the role that facial expressions play in determining political ideology. I have collected 20,475 assessments of politicians representing 14 countries. Based on a dataset captured from 1821-2015, our results imply that the facial expressions of politicians do play a significant role in the explanation of their ideology. Controlling for positivism of expressions model confirms this general picture: Democratic regime politicians have a tendency to express positive emotions since they are in principle selling the future. Autocratic regimes are mostly trying to exert fear and the facial expressions of dictators are non-positive. We also find that evaluation of the regime is negatively correlated with TV broadcasting in some countries. Accordingly, we can claim that voting perception and behavior is guided by the pictures and videos which are delivered via television.
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What Affects The Decreasing Consumption of Beer? Analysis of The Determinants of Demand
Podešva, Jiří ; Koubek, Ivo (advisor) ; van Koten, Silvester (referee)
The per capita consumption of beer in the Czech Republic is one of the biggest in the world. However, in recent years the consumption has started to decrease. This thesis analyzes determinants of demand of beer and possible causes of decreasing of beer consumption. The whole market is analyzed using the time series models. In the next step, the market was separated into on-trade and off-trade part. No previous researches have dealt with this division. It was proved, that wine is a substitute of the on-trade beer, but a complement of the off-trade beer. On-trade beer is an ordinary good and if the price increases by one Czech crown, the consumption will decrease by 5 %. Spirits are complements of on-trade beer. No impact caused by price on the consumption of off-trade beer was proved. During the analysis of off-trade beer was found out, that the beer is the gross substitute of wine and that the good weather makes its consumption to increase. The future prediction for 2014 suggests that average person will consume 57,5 liters of on-trade beer.
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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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