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Behavioural economics: How much do the social norms cost?
FERENTS, Pavlo
The thesis deals with social norms and relationships at workplace in concept of behavioural economics. The theoretical part defines the bases of behavioural economics in comparison with classical and neoclassical economics and explains existing conflict between those economics schools. The bases are subsequently followed up by an overview of current studies on selected problems. The aim of the practical part is to determine the cost of the social norms at workplace through analysing social relationships in organizations. The research is based on surveying employees across different organizations within the Czech Republic and focuses on tertiary sector. The data of the survey are analysed by means of One Sample T-test and Two Sample T-test. Furthermore, the One-way ANOVA is implemented to analyse the dependence between the cost of the social norms and the specific factors. In conclusion, the results of the survey are interpreted with respect to managerial approach.
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Incentives for Blood Donation in the Czech Republic: Case Study of Prague
Bošková, Aneta ; Chadimová, Kateřina (advisor) ; Pertold-Gebicka, Barbara (referee)
Blood shortages prompt policymakers to find ways to increase the supply of blood to meet the health sector's demand. The aim of this thesis was to exam- ine the effects of selected incentives on blood donation. Using a questionnaire for blood donors, the data was collected at a transfusion station in Prague. The questionnaire focused on hypothetical choices of donors when offered a certain type of incentive. The probit model and linear probability model were cho- sen for analysing the hypothetical effects of incentives and determining the donors' significant characteristics. The results showed that the vast majority of respondents would donate as often as they currently do with any of the selected incentives. A small proportion of donors would, however, respond to the incentives. The financial incentive or small gifts would discourage a cer- tain proportion of donors; on the other hand, offering a voucher to pharmacy would motivate a small proportion of donors. Both probit and linear probabil- ity model revealed several important donor characteristics that affect attitudes towards incentives. One of the most significant characteristics was gender; the financial incentive would discourage women significantly more than men. JEL Classification A13, D64, D90, O31 Keywords incentives, blood donation,...
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Fighting Fake News with Accuracy: Dual Processing Perspective
Harutyunyan, Mikayel ; Chytilová, Julie (advisor) ; Červinka, Michal (referee)
The phenomenon of "fake news", or misleading online content, is increasingly worrisome due to its large-scale socio-economic impact. Researchers and practitioners attempted to understand what drives the virality and believability of fake news and how to reduce its influence. This research aims to shed light on these questions. Building upon a theoretical account positing that people share fake news because they simply fail to engage in deliberate thinking, we designed an accuracy prompt intervention to encourage people to think effortfully. In a pre-registered study conducted via Prolific (N = 520), we find limited evidence supporting accuracy prompts stylized as warning labels, but only for increasing sharing discernment in true, not fake news. The veracity of news articles does not impact sharing intentions, despite having a sizeable effect on accuracy judgments. This and other findings support the dual processing theory of cognition in the context of fake news. Predispositions towards more intuitive thinking increased belief in fake news and higher distrust in true news. Conversely, a better ability to engage in effortful thinking increases truth discernment. In addition, confirmation bias decreases truth discernment and increases sharing intentions. Politically concordant true headlines are...
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Emotions and utility maximization
Abraham, Diya Elizabeth
The goal of this thesis is to examine the role of emotion as it pertains to the utility maximization problem and make an argument for incorporating emotion into economic models of decision-making. It further aims to demonstrate by means of a social experiment how specific emotions influence intertemporal judgment. The results from the experiment reveal that in line with previously documented findings, incidental sadness increases the level of economic impatience. However contrary to theoretical predictions, the prosocial emotion of compassion cannot be used as a tool to reduce economic impatience. In fact there is evidence to indicate that compassion, in some situations, is not reliably different from sadness in terms of its influence on economic impatience and can therefore be detrimental to economic wellbeing.
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Vplyv sentimentu správ na obchodovanie inštitucionálnych investorov na Forexe
Holá, Silvia
The bachelor thesis examines the impact of the irrational factor, the sentiment of economic and financial announcements, on exchange rates traded on the forex market. The framework of the paper is based on the theory of behavioral economics, drawing attention to the psychological aspects that explain the behavioral anomalies of investors. The analysis refers to the EUR/USD currency pair that institutional investors trade most often. The results of the paper indicate the economic inconsistency of sentiment, which points to the inappropriateness of including this irrational factor in investment decision.
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Model of Generation Y Customer on the Market of Banking and Other Financial Products in the Context of Behavioral Economics
Fojtů, Kateřina ; Dohnalová, Zuzana (referee) ; Rozmahel, Petr (referee) ; Vochozka, Marek (referee) ; Škapa, Stanislav (advisor)
The dissertation focuses on identifying a typical generation Y representative on the financial products market and, on the basis of these characteristics, creates a model of generation Y customer on the financial products market in the context of behavioral economics. Based on the literature research, the terms "generation Y" and "selected knowledge of behavioral economics" were defined. The literature research also led to creating a questionnaire that was used to obtain primary research data. Secondary research has characterized consumers on the financial products market. Secondary research focused on the form of payment; relationship to technologies; cash and cashless payments; relation to cryptocurrencies; relation to savings; digital banking transformation; financial behavior of Czech households. Primary research has focused on obtaining information in the field of behavioral economics, specifically the prejudices of the Czech generation Y; and on what financial market products the Czech generation Y uses and generation’s relationship to risks, provided information and satisfaction with products. Primary research data was used as input data for structural equation modeling. Because of this method, mutual relationships between selected products have been found; customer characteristics and heuristics. The benefit of this work lies in the characteristics of customers in the selected market. It is a sector that is slowly entering the digitalization period, and understanding the young generation, which now accounts for a third of its customers, is crucial for companies. If companies are not able to respond to the changing needs of the younger generations, they can lose their customers and hence revenue.
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Beer Consumption Patterns in Europe
Zobal, Vladimír ; Janda, Karel (advisor) ; Špolcová, Dominika (referee)
This thesis intends to verify and quantify relationship between microeconomics, macroe- conomics and social variables with annual beer consumption per capita. To assess dif- ferences in tastes in groups of countries, the concept of beer, wine and spirit drinking countries is used to separate the influences. Firstly, the general model for all European countries is estimated with the use of panel data techniques on data from 2000 to 2013. The results and findings from the first model are subsequently used as a building blocks for specific model for The Czech Republic. The Czech Republic has over a long period the highest annual consumption per capita. Still the share consumed in hospitality expe- riences persistent downward trend. All data are collected on annual basis and with only country-aggregated level of detail. Keywords Beer, Wine, Spirits, Consumption Patterns, Beer Demand, Beer Drinking Countries, Be- havioral Economics Author's e-mail Vladimir.Zobal@gmail.com Supervisor's e-mail Karel-Janda@seznam.cz 1
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The impact of behavioral economics on email fundraising of non profit organization Greenpeace ČR
Fišer, Matěj ; Báča, Ladislav (advisor) ; Vranka, Marek (referee)
The aim of this work is to bring new knowledge in the field of behavioral economics and to explore the influence of selected behavioral concepts on fundraising campaigns conducted through e-mail. The thesis first introduces the key aspects of behavioral economics, explains its development throughout history and defines selected behavioral concepts. Then the thesis describes fundraising and its use in nonprofit organizations. The second part of the thesis introduces the case study, which dealt with the application of selected behavioral studies concepts to the e-mailing campaign led by the non-profit organization Greenpeace Czech Republic. The empirical part presents a description of this experiment and an analysis of the results, which revealed that the usage of selected behavioral concepts may be counterproductive under certain conditions.
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Decoy effect and its use in marketing
Regnerová, Eva ; Vranka, Marek (advisor) ; Rosenfeldová, Jana (referee)
This bachelor thesis examines decoy effect, a phenomenon of behavioral economics. Above all, it focuses on the asymmetrically dominated effect. The main objective of the thesis is to review recent research dealing with the decoy effect and analyze the possibilities of its use in marketing practise. The thesis consists of theoretical and empirical part. In the first chapter of the theoretical part the principle of the decoy effect is generally explained and its possible modifications are described. The second chapter characterizes the asymmetrically dominated effect, the primary type of the decoy effect. There are discussed possible explanations and limits of the effect. In the chapter there is also described wide scope of experiments testing the effect. Special attention is drawn to the use of the asymmetrically dominated effect in marketing communication. The empirical part is then formed by replication of an experiment focused on the general validity of the asymmetrically dominated effect. In this section the importance of replication of experiments is briefly explained. The results of the original experiment were not replicated. But the results of the experiment showed the asymmetrically dominated effect significant in some research groups.
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Priming as a tool for triggering prosocial behavior
Tížková, Tereza ; Polák, Petr (advisor) ; Godar, Sarah (referee)
Priming is a cognitive bias influencing, in various forms, daily life of people. This paper examines the effect of priming in economics, where subjects are often forced to make decisions under uncertainty. The empirical part of this paper introduces the experiment, where subjects were manipulated towards or against prosocial behaviour with verbal priming techniques. The experiment results show that priming to specific concepts correlated with a tendency to act prosocially actually increases the subsequent degree of prosocial behaviour, although the same evidence has not been found with the opposite case.
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