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Monopsony on the labor market for players of National Hockey League: present or past?
Hladík, Ondřej ; Hudík, Marek (advisor) ; Mirvald, Michal (referee)
This thesis deals with determination of the labor market structure for professional athletes, specifically the market for players of National Hockey League (NHL). The theoretical part focuses on the development of labor market for athletes and changes in rules that affected this development. In the empirical part I present a model for determining the marginal revenue product (MRP) of players. Further I determine the impact of other factors that have an influence on wage differences between players. Taking all the results I specify the type of market structure, which I determined on the basis of the relationship between MRP of players and their wages. I find out that the market for defenders and forwards of NHL is rather competitive, unlike the market for goalkeepers, which is best describable by the "winner-take-all" theory. At the end of the thesis, the possible errors in the model and data that could affect the outcome are summed up.
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Are tennis players rational?
Foksová, Eva ; Hudík, Marek (advisor) ; Koubek, Ivo (referee)
The aim of this thesis is to verify the hypothesis on real data based on economic theory and these theories to confirm or reject. The first part deals with testing of hypotheses based on the game theory and tests whether tennis players play according to the minimax theory. The Hypotheses analyse the data for strong and weak players, considering their service, and verify which group of players converge in their strategies toward minimax theory assumptions. Specifically, theory components of the hypotheses are tested within this part: i) the probability of winning the game serving from the right side of a court is the same as the probability of winning the game serving from the left side, ii) this hypothesis will hold true rather in case of stronger players serving against weaker players than in case equally strong players playing against each other and iii) Based on the assumption that women do not excel distinctively in serving, the results in the women's matches will be worse in the minimax theory than results from men's matches. Hypotheses derived from the theory of elimination tournaments are tested in the second part of the diploma thesis. The hypotheses are analysed on the tennis data whether players make less effort in uneven tournaments, regardless of their position as favourite or outsider, than the theory presumes. The analysis of the above mentioned hypotheses was performed on the data from the Grand Slam tournaments in the years 2011 and 2012. Hypotheses are tested using both male and female data. The results obtained from analysis of the data confirm the hypotheses.
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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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How important is reputation? Superstar effect in NHL
Račan, Martin ; Hudík, Marek (advisor) ; Janíčko, Martin (referee)
This bachelor thesis concerns professional sports market specifics and examines the influence of reputation on individual`s wage. This influence is examined through regression analysis with the data from NHL season 2010-2011. Reputation is measured with ranking of the most drafted players in the online game "Fantasy NHL online" and by player's participation in the "all-star game". A significant positive influence of reputation on player's wage is discovered. That implies existence of the "superstar effect" in NHL.
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Why do NIKE shoes cost twice as much in Prague than in the USA?
Nečasová, Romana ; Hudík, Marek (advisor) ; Šťastný, Daniel (referee)
I study retail prices of sport goods for a particular multinational producer across European countries and in the USA to examine behaviour of the law of one price. Although average prices across all goods in the sample differ only slightly across most of the countries, I find significant price differences for individual goods for almost each country pair, including a group of the states that are generally considered as relatively integrated. The conducted analysis has not confirmed that these differences are caused primarily by various distribution costs. The computed relative prices across products vary significantly once compared internationally even within a group of similar goods of which distribution costs should be the same. The price variation, which prevails even when costs are excluded, points to the existence of strategic pricing and lagging arbitrage.
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Analysis of property crime in the Šumperk county
Suchomelová, Lucie ; Hudík, Marek (advisor) ; Brožová, Dagmar (referee)
There are many studies dealing with effects that are partly responsible for an increase in crime. To the most frequently researched influences belong the impact of the unemployment, extent of the punishment or probability of the apprehension to the amount of the committed crimes. The goal of my thesis is to test the influence of the selected variables on the amount of thefts, using the data from 2000-2010 in the Šumperk county. As dependent variables unemployment and probability of apprehension were chosen. Multiple regression suggests that the two dependent variables have a negative effect on the explained variable. Probability of the charge is low, around 30 %. Probability of conviction is high, over 90 %. The most frequent punishment for theft was a imprisonment between 9 to 12 months.
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Analysis of impact of social benefits on the crime rate
Suchý, Dobromil ; Hudík, Marek (advisor) ; Chytil, Zdeněk (referee)
In this bachelor thesis I concern myself with the relationship between the height of social benefits and the rate of property crime. In the theoretical part I construct a verbal model where I show that the benefits can influence the property crime in both ways. Subsequently I examine this effect by regression analysis with data from 14 districts of the Czech Republic from the years 2005 to 2010. I discover that the height of social benefits did influence the number of burglary in a positive way - that is, the higher the social benefits, the higher criminality rate there was. I did not prove any infulence of the height of the social benefits on the number of thefts.
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Is European monetary system cause of indebtedness?
Nikodym, Lukáš ; Hudík, Marek (advisor) ; Potužák, Pavel (referee)
The aim of this essay is to verify Hülsmann's thesis and to show that European monetary system is a possible cause of indebtedness. Hülsmann says that German membership in regime of fixed exchange rates has disabled the possibility of inflation in other member countries, so the debt started to grow. Cointegration analysis in time-series is used for testing his thesis. Hülsmann's thesis is verified and further extended with the influence of fiscal coordination. Monetary integration caused decrease in government revenue through inflation. Government spending has increased through fiscal coordination vice versa.
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Market analysis of vehicles with alternative engines
Čermáková, Renáta ; Koubek, Ivo (advisor) ; Hudík, Marek (referee)
Alternative fuel are getting more and more important. The aim of this study is to discover the financial benefits of vehicles with alternative engines for different types of consumers. The consumers are separated to the three groups with 15 000, 25 000 and 50 000 kilometers driven per year. For the calculations is used the net present value method using two estimates of energy prices until year 2020. For comparison, in this text are three types of cars with alternative power, hybrid car, car with LPG engine and electric car. The results show that hybrid car is good for consumers, who travels every year more than 25 000 km. Consumers who travel 15 000 km a year, a car with hybrid drive is worthwhile. LPG powered car is advantageous for all groups of consumers. In contrast, electric car is not advantageous for any group of consumers, mainly for too high prices.
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