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National Repository of Grey Literature 1 records found  Search took 0.00 seconds. 
Analysis of the Market of Credit Vouchers on Faculty of Economics, University of Economics in Prague
 Borna, Jan ; Hudík, Marek (advisor) ; Chytilová, Helena (referee)
This paper examines the determinants of market price of credit vouchers. Based on the analysis of the specifics of the market, we create a model describing the formation of market price. We estimate the model by ordinary least squares on dataset of 103 transactions containing all necessary data of the original 436 transaction data. There is found a rapid decrease in market price with time associated with discovered gradual centralization of the market, which is profitable for the buyers particularly because of highly inelastic supply. We have also discovered and quantified significant transaction costs for buyers. There is found none apparent connection between the prevailing market price and the frequency of donation.
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