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Majetnický efekt: Ceníme si více informací z knih?
Hadincová, Ludmila ; Houdek, Petr (advisor) ; Hudík, Marek (referee)
The main purpose of this thesis is to answer a question, whether an individual appreciates more information originating from physical media than information from virtual media. Respectively, if these two types of media have a different impact on the endowment effect. This effect is conditioned by the individual's physical possession of an object that is provided by physical media, but not allowed by virtual media. The first part of the experiment is based on the comparison of buyer's willingness to pay for information from physical and virtual media (WTP) with seller's willingness to accept payment for the information (WTA). The results from the first part of the experiment did not satisfy the hypothesis about participant's higher valuation of information from physical media. But it was found out that buyers were more willing to pay for the information from physical media suggesting the emergence of quasi-endowment effect. Subjects were reluctant to pay for the electronic version of information. The second part of the experiment is based on comparison of participant's preferences for books in regular and virtual format. It was proved that participants who had an experience only with the book in electronic format were more eager to exchange it for the other book. The opposite effect was documented for participants who had the book in regular format. So, the results from the second part of the experiment provided weak evidence on behalf of the prediction about greater impact of physical media information on the endowment effect. The thesis is further focused on detection of personal characteristic's impacts on the endowment effect. Finally, it was discovered that subjects felt loss aversion of information and that information from books were perceived trustworthier.
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Can We Consider Inflation as a Suitable Indicator of Inflation?
Kloudová, Dana ; Hudík, Marek (advisor) ; Mičúch, Marek (referee)
Output gap belongs to standard indicators of inflationary pressures used in central banks. The aim of this paper is to find the answer to the question, whether we can consider output gap as a suitable indicator of inflation for the Czech economy. First hypothesis, which we analysed is that we can estimate output gap only with uncertainty. For confirmation or refutation of this hypothesis we used ten models of estimation of output gap. The second hypothesis is that output gap can be used as suitable indicator of inflation. For testing of this hypothesis we chose gap model from Coe, McDetmott (1997) -- with the level of output gap and the change (difference) of output gap. All tests confirmed, that central bank can use inflation as a useful indicator of inflation.
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economy cars in the center: the allocation of parking space
Uhlířová, Petra ; Bartoň, Petr (advisor) ; Hudík, Marek (referee)
Possibility of parking plays a role in deciding where to go and the driver where to purchase goods and services. In sectors such as trade, hotels, catering, transport and storage is likely that some percentage of these drivers will form. The paper tries to explain whether the introduction of paid parking zones will affect the growth of businesses in these sectors since the introduction of paid parking zones receive visitors "theoretical" chance to park, compared to locations where paid parking zones are not. Work with the help of least-squares could not determine whether this hypothesis is true in parts of Prague 3 and 7, which introduced paid parking zones in 2008. The model appeared generally statistically insignificant, which can not be concluded whether the introduction of paid parking zones will lead to greater development of businesses in sectors such as trade, hotels, catering, transport and storage in the city of Prague 3 and 7
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Analysis of factors affecting young people in the elections to the Chamber of Deputies of the Czech Republic
Pokorný, Tomáš ; Hudík, Marek (advisor) ; Skopeček, Jan (referee)
This thesis analyzes the factors that influence decisions of young people in elections to the Chamber of Deputies of the Czech Republic. Specifically, it focuses on the citizens of the Czech Republic citizens aged 18 to 28 years. The research is carried out in elections to the House of Commons in 2010. As shown by earlier studies from the United States or European countries (Abramson, 1974; Knoke 1974; Baker, 1978; Inglehart, Norris 1999; Anderson, 2000; C. Baslevent H. Kirmanoglu 2008), for young people are dominant other factors than for older generations in public elections. My goal is to detect the influence of psychological, social and political determinants of the electoral vote and determine what the characteristics of young leftist and rightist voters are. Furthermore this thesis validates some hypotheses, based on various studies (Knoke 1974, Abramson 1974, Thorisdottir et al. 2007). As a method of analyzing the dependence between explained variable and explanatory variables I used multinominal logistic regression to testing hypotheses investigating the influence of parents political orientation, household earnings, and traditionalism to party election. Null hypotheses expecting no influence of these variables were rejected. Alternative hypotheses were confirmed only in certain categories of hypotheses investigating parents political orientation influence to party election.
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Essays on Economic Behaviour
Hudík, Marek ; Kadeřábková, Božena (advisor) ; Pavlík, Ján (referee) ; Boettke, Peter (referee)
The main thesis of these essays is that social phenomena are different from psychological phenomena and thus social sciences do not belong to behavioural sciences. Chapter 1 introduces the fundamental problem of the rational choice theory ("Macaulay's problem"): either the theory is empirical and false or it is without empirical content and true. Various suggested solutions to this problem are reviewed and criticized. It is argued that the problem is evaded once it is admitted that rational choice theory does not attempt to explain behaviour. It was developed to explain decreasing individual demand and its extension to behavioural sciences is illegitimate. In Chapter 2 the difference between the interpretation of rationality in choice theory and demand theory is shown. It is argued that choice theory must adopt the agent's point of view, while demand theory proceeds from the point of view of an observer. Chapter 3 applies the argument to the problem of indifference ("Nozick's problem"): it claims that choice theory must adopt strict ordering of alternatives because indifference is already accounted for in the description of the choice alternatives. The difference between the consumer perception and the objective price-quantity relation embodied in the demand function is further explored in Chapter 4 on the example of the Rothbardian demand theory. It is argued that the law of marginal utility defined in terms of subjective units (i.e. units relevant to the consumer) does not imply nonincreasing demand. Chapter 5 is complementary to the previous and attempts to answer the question, whether the concept of marginal utility is compatible with ordinalism. Finally, Chapter 6 discusses on the methodological level the difference between behavioural sciences and economics. It argues that the difference can be conveniently described with the help of Popper's concepts of 'World 2'and 'World 3'.
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Attendance of the Zoological Garden in Jihlava
Královská, Radka ; Hudík, Marek (advisor) ; Lahvička, Jiří (referee)
In this work I investigated the influence of selected factors on attendance of the Zoological Garden in Jihlava in the years 2001-2010. Each time series of monthly visitors were subjected to econometric analysis to determine the influence of explanatory variables on attendance. The work leads to the conclusion that attendance is significantly affected by air temperature, which was confirmed in all four models studied. Neither rainfall nor the price of admission didn't confirm the influence on the attendance of the Zoo, which may be due to low number of observations. The most significant impact on attendance had months of April and November, while other months were found to be very important in terms of attendance Zoo Jihlava.
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Is aggressive play profiable in online poker?
Rytíř, Miroslav ; Hudík, Marek (advisor) ; Bartoň, Petr (referee)
This thesis examines impact of making aggresive moves on profit in big blinds obtained in hundred hands. With econometric analysis I have estimated two models. First general which contains only how often players choose aggressive moves. In second I have estimated impact of moves which are based on some advatage in different situations through the game. Variables which measures aggressive moves frequency had possitive coeffients in both models. So I think that aggression is profitable.
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Is Criticism of Microfinance Qualified?
Polláková, Barbora ; Hudík, Marek (advisor) ; Chytilová, Helena (referee)
This Bachelor's thesis deals with reviewing legitimity of critics of microfinance in its three disputed issues. First of them is difference in considering the rightness of applying microfinancial services on poor population. The second issue judges responsibility of microfinance of "graduation failure". The third issue judges critics of micro-enterprising and micro-entrepreneurs. Inferences of reviewed critics are different. While some of the critics I find to be up-to-date, others I regard as inadequate and outdated. In conclusion I add my own remarks and suggestions to certain criticized problems aiming to improve its previous behaviour.
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Does Bonus-Malus System Encourage Drivers to be More Responsible on the Roads?
Línová, Veronika ; Hudík, Marek (advisor) ; Šťastný, Daniel (referee)
This thesis is focused on the question whether implementing of a malus policy into a bonus-malus system encourages drivers to be more responsible on the road. The drivers should be motivated to change their behaviour be aimed at decrease of reported insurance events because this system increases their premium whenever they are in an accident. To answer the given problem I used regression analysis with a random effects model and I analysed the drivers registered at insurance company Allianz in years 2000 - 2005. The result of this analysis shows that there was no change in the behaviour since the malus policy was introduced. The examined impact has been detected in case which was interacting with a different variable. The malus policy had the impact on a reduction of accidents in regions below 10 000 inhabitants. This thesis is also focused on the influence of driver characteristic and technical properties of his vehicle on reported insurance events. Tested variables are sex of the drivers, region of driver's residence, age and engine capacity. All explanatory variables have effect on the reported insurance events.
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Are the government subsidies to agriculture actualy in the interest of consumers?
Mahdalíčková, Lenka ; Hudík, Marek (advisor) ; Svoboda, Miroslav (referee)
This bachelor's thesis investigates an influence of agricultural grants over the eating habit of Czech consumer. Increasing world-wide trend of overweighted people is very obvious also in Czech republic. This thesis therefore tries to discover, whether there has been a correlation between agricultural production and structure of the consumers diet. Although considerable dependence of agricultural production on grants was proved, it can't be said that the grants themselves are primary cause of the wrong eating habits. At the close of the thesis is proven that a demand after foodstuff is non-elastic, consumer's preferences can be thus affected by grant policy only slightly.
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