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Evaluating the predictability of virtual exchange rates using daily data
Řanda, Martin ; Polák, Petr (advisor) ; Kukačka, Jiří (referee)
Virtual worlds have garnered the attention of researchers from various disci- plines and are viewed as particularly valuable to economists due to their open- ended design. In this thesis, we review a popular online multiplayer game's economy and focus on exchange rate predictability in a virtual setting as only a limited body of literature investigated this topic. The well-established unpre- dictability puzzle is addressed by exploiting a unique daily time series dataset using a vector autoregressive framework. Apart from a significant Granger- causal relationship between the virtual exchange rate and the player popula- tion, the system is shown to be less interconnected than expected. Furthermore, an out-of-sample exercise is conducted, and the forecasting performance of our models is examined in comparison to that of a simple no-change benchmark in the short term. Based on the evaluation methods used, the two measures of the virtual exchange rate are found to be somewhat predictable. We suggest two explanations for this inconsistency between the virtual and real-world exchange rates: data frequency and lack of complexity in the considered online economy.
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Financial services in the new media environment
Dubois, Julien ; Očko, Petr (advisor) ; Hacker, Pavel (referee)
Bc. Julien Dubois Filozofická fakulta Univerzity Karlovy v Praze Diplomová práce Finanční služby v prostředí nových médií Financial services in the new media environment Abstrakt v anglickém jazyku Abstract in English This final thesis deals with the transition of financial services from traditional financial industry in to the new media environment which is mainly created by Internet and its social aspect, social networks and social communities from real and virtual world. At the end of my paper I outline a possible appearance of financial services in the year 2020 with regard to the evolution of new media.
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Second Life and marketing aspects of virtual worlds
VANĚREK, Petr
The main focus of this dissertation thesis is the use of virtual worlds in marketing with a special focus on the virtual world known as Second Life. The Second Life environment research was conducted in several steps. The first step was personal online observation of Second Life where the Czech Republic has its representation in a company called Bohemia. The purpose of this online research was to find out respondents{\crq} subconscious, their experiences, and how they perceive the economic subjects which are presented in this virtual world.The research of the virtual world Second Life continued by creating five case studies of selected economic subjects, which are present in Second Life. For this reason the following were picked, Raiffeisenbank, CzechTourism agency, Pivovary Staropramen a.s. virtual pub. The other two case studies were focused on education and therefore Philosophical Faculty of University Palackého Olomouc and an entrant from private sector WebSchool s.r.o. company were chosen. The data obtained from this research helped to apply a Cost benefit analysis in the virtual pub Staropramen case study. This analysis is one of the possible methods of economic assessment of the investment related existence in Second Life.On the basis of information gained from personal online research and completed analysis I projected a process of entrance into the virtual world Second Life with the use of select marketing tools. These tools are folded so that any subject that considers the use Second Life as one of the innovative ways of marketing communication is able to fulfill its goals and will not end up as a passive background of this virtual world. For this reason, I consider the main goal of this dissertation to be achieved.
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