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Price Elasticity of Demand and Special Discounts
Zeman, Jaroslav ; Škrdlík, Miloš (referee) ; Bayerová, Vladimíra (advisor)
This master thesis deals with the issue of special discounts. Assessments and proposals of successful special offers are based on the analysis of demand price elasticity. The key attribute of this work is the knowledge of product’s price elasticity of demand. The analysis of price elasticity of demand is based on real data. The paper is terminated with suggestions on creating and planning special discounts developed in consideration of the retailers’ specific goals.
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Differences in price elasticity of diesel and petrol
Kačiaková, Petra ; Mirvald, Michal (advisor) ; Babin, Jan (referee)
This survey examines and compares differences in price elasticity of demand for diesel and gasoline. The data chosen for analysis were in the form of monthly time series obtained from particular petrol station in Slovakia. Other exogenous variables possess regional character and consist of average wage, HDP and rate of unemployment for region Žilina and Banská Bystrica. Time period covered by the survey begins by October 2008 and finishes by October 2013. The method chosen for analysis was ordinary least squares, both static and dynamic models. The results confirmed hypothesis that stated the price elasticity of diesel to be more elastic with average result from dynamic model -2,463 than price elasticity of demand for petrol with average result from dynamic model -0,36.
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Price elasticity of demand for gold in the European market and its determinants
Černohorský, Vojtěch ; Rotschedl, Jiří (advisor) ; Mirvald, Michal (referee)
This paper examines the relationship between the gold price and quantity demanded of the commodity in the European market. The aim of the thesis was to estimate the price elasticity of demand for gold in the short and long term and identify its determinants on the European market using OLS. Both static and dynamic forms of model are used and tested. This paper uses extensive dataset in form of monthly time series and in form of quarterly time series for the period from October 1996 to December 2013, and for the period from first quarter of 1991 to first quarter of 2002 respectively. According to the models the price elasticity of demand for gold seems to be elastic.
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Price elasticity of demand for fuel in border area and its determinants
Vyšný, Martin ; Rod, Aleš (advisor) ; Slaný, Martin (referee)
This survey measures the price elasticity of demand for fuel. Using unique data set from a petrol station in north Bohemia, short-run demand was estimated as price inelastic, the long-run demand was estimated as price elastic. Fuel prices, population in the Free State of Saxony and excise tax in the Czech Republic are main determinants of the demand for fuel. The impact of new vehicles in Ústí nad Labem Region was not proved. A potential effect of tank tourism was estimated using a variable for the difference between fuel prices in observed petrol station and in Germany. Rise in the price difference by one euro cent leads to increase in gasoline demanded in the observed petrol station on average by 1,5 %, and by 2 % in diesel demanded.
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Price Elasticity of Demand for Life Insurance
Marešová, Vanda ; Lahvička, Jiří (advisor) ; Babin, Jan (referee)
The main goal of this research is to find out the price elasticity of demand for life insurance in Czech Republic. It was utilized exogenous price change for research caused by EU regulation of premium rate unification for men and women, put into force on 21.12.2012. In research were used data from 2010 to 2013 about sales and prices of life insurance products, provided by Czech Business Insurance Company. It was discovered that women's demand for life insurance is inelastic, price increase of 1% brings reduction of demanded quantity of 0,94%. Price elasticity of a men's demand came out as a plus number. It was caused by sudden decline of demanded quantity after price reduction. This phenomenon might be a topic for further research.
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Analysis of the demand for services of selected driving school
Milatová, Barbora ; Mičúch, Marek (advisor) ; Koubek, Ivo (referee)
This thesis examines effects of selected factors on the demand for services in chosen driving school. Testing, carried out by the regression analysis, demonstrates how the total monthly sales are influenced by prices of different types of courses, selected marketing strategy, the presence of discount in a given month, the success of students in driving exam, the number of training cars and the number of training teachers. Furthermore, the price elasticity of demand for two types of courses has been measured. These courses had been selected due to their most significant impacts on the price elasticity of demand. Once the model had been transformed and the four variables causing multicollinearity have been omitted, the final result showed that the demand for driving is mainly influenced by well-chosen marketing strategy and a success of students at their first examination. The effect of price of the course on the demand proved to be insignificant.
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Prohibition of drugs in condition of their mutual substitution with other addictive substances in the Czech Republic
Vilimovský, Petr ; Běláčková, Vendula (advisor) ; Houdek, Petr (referee)
This thesis analyzes regulation, prescription and prohibition of drugs in condition of their mutual substitution with other addictive substances in the Czech Republic; thesis investigates prices' and cross-prices' elasticities of substances and their markets. Comparison is made between regulated legal markets of alcoholic beverages and cigarettes, non-prohibitively regulated markets of pharmaceuticals and prohibited markets of illegal drugs. The thesis concludes that the demand for drugs is not price elastic. The demand for drugs is price inelastic but not perfectly price inelastic, as can be deduced based on the concept of A Theory of Rational Addiction developed by Gary S. Becker. The price of drugs, therefore, to some extent affects consumption. This opens the room to influence demand through pricing mechanism. The thesis also verifies The Theory of Economic Regulation developed by George J. Stigler and confirms that due to some substitution relationships between addictive substances it is possible speculate about the interests of producers of alcoholic beverages, cigarettes and pharmaceuticals for prohibition of drugs. Interests of producers of alcoholic beverages and cigarettes confirm their mutually complementary linkages.
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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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Analysis of sports clubs behavior: Do clubs maximize revenues from ticket sales?
Miškovský, Karel ; Janíčko, Martin (advisor) ; Bolcha, Peter (referee)
A general tendency in ticket pricing that is used by sports clubs all around the world is to set prices in the inelastic part of the demand curve. Despite this there have been complaints by soccer fans in the Czech Republic who believe that ticket prices for the Czech premier league are too high. To show the real situation, price elasticities were computed based on data from seasons 2006-2010 that were provided by three Czech soccer clubs. To achieve this, demand functions have been nailed down, assuming the possibility to price-discriminate between two types of demands, one for high quality seats and the other for low quality seats. The results show that Czech soccer teams behave like a normal profit maximizing monopolist firm and therefore the fan hypotheses about the prices being too high had to be rejected.
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