|
Stochastic dominance portfolio efficiency measures
Jakubcová, Monika
In the present work we study the stochastic dominance portfolio e ciency measures. The investor's risk attitude is given by the type of an utility function. If this information is unknown or a general investor is assumed, it is possible to use the stochastic dominance principle, in which the portfolio is only classi ed as e cient or ine cient. We build on the works of Post, Kuosmanen and Kopa, who formulated the criteria of portfolio e ciency for nonsatiate and risk averse investors. On the basis of these criteria, we de ne the second-order stochastic dominance (SSD) portfolio e ciency measures. We examine the properties of SSD ine ciency measures, which allow to compare SSD ine cient portfolios. We prove mutual relationships for the de ned SSD ine ciency measures. Eventually, we test the SSD e ciency of a US market portfolio on real-world US Stock Exchange data.
|
| |
|
Alternative approaches to health promotion
Klesla, Arnošt ; Chytil, Zdeněk (advisor) ; Kadeřábková, Božena (referee) ; Kebza, Vladimír (referee)
The economic concept of health is defined as an ability to fully utilize human capital. The health promotion shall procure healthy lifestyle among the population. It also appears as the most efficient way to prevent diseases, in particular the non-communicable diseases (NCD). Economic analysis of human behavior offers the explanation of the rational choices as well as the decisions with bounded rationality affecting people's' health conditions. The Czech population health development analysis shows tendencies to careless approach in this area, that is illustrated by the increase incidence of sick leaves caused by NCD in higher age categories. Application of the health promotion in Czech Republic may be significantly improved by the outcomes of economic analysis of human behavior in these regards. Incidental issues are to be analyzed by the methods of logical deduction logical deduction, comparative analysis and empirical results of the statistical survey. Synthesis of the findings and conclusions of the analysis is the starting point for the modeling of health strategies, policies and programs promoting health in the Czech Republic. The main hypothesis is supported by the outcomes of this analysis with regards to the applicability of the economic analysis of human behavior on the health promotion and its positive macroeconomical impact on the current medical system sustainability. The primary contribution of the thesis consist in formulation of specific outcomes of the economic analysis of human behavior for the health promotion concept development. A secondary benefit is the proposal to measure personal productive incapacity in time by the indicator of work incapacity. In this context, the risk of non-infectious diseases impact deepening in older age categories of workers in Czech Republic is emphasized
|
|
Expected value of information in stochastic programming
Čížková, Jitka
Stochastic problems (both two-stage and multistage) can be formulated in several di erent ways which utilize to various extent available information on a future realization of incorporated random parameters. When comparing optimal objective function values resulting from di erent formulations of the given problem with the same available information, we obtain a value of using one of these formulations rather than the other one (e.g., VSS). Level of the available information can be changed by a partial or full relaxation of nonanticipativity constraints, which assure that a present decision is independent of future (unknown) realizations of random parameters. By comparing optimal objective function values gained when solving the given problem with distinct levels of available information we obtain (expected) value of partial or perfect information. In this work we present de nitions of various information value types and related values connected with the problem formulation and we derive their properties (nonnegativity, bounds). In the last part we introduce their summary classi cation.
|
|
Expected value of information in stochastic programming
Čížková, Jitka ; Lachout, Petr (referee) ; Dupačová, Jitka (advisor)
Stochastic problems (both two-stage and multistage) can be formulated in several di erent ways which utilize to various extent available information on a future realization of incorporated random parameters. When comparing optimal objective function values resulting from di erent formulations of the given problem with the same available information, we obtain a value of using one of these formulations rather than the other one (e.g., VSS). Level of the available information can be changed by a partial or full relaxation of nonanticipativity constraints, which assure that a present decision is independent of future (unknown) realizations of random parameters. By comparing optimal objective function values gained when solving the given problem with distinct levels of available information we obtain (expected) value of partial or perfect information. In this work we present de nitions of various information value types and related values connected with the problem formulation and we derive their properties (nonnegativity, bounds). In the last part we introduce their summary classi cation.
|
|
Time-Resolved Terahertz Spectroscopy Applied to the Investigation of Magnetic Materials and Photonic Structures
Němec, Hynek ; Kužel, Petr (advisor) ; Čtyroký, Jiří (referee) ; Crozat, Paul (referee)
Two distinct branches of optics are combined in this work: Time-domain terahertz spectroscopy, and photonic structures. The work at rst provides a survey of tools utilized for exploration of the terahertz region, and it enriches them by a method for simultaneous determination of dielectric and magnetic response of materials and metamaterials. Photonic structures operating in the terahertz range form the subject of the rest of this thesis. A periodically modulated dielectric waveguide is studied theoretically using a modal method: The band structure of guided and leaky modes is calculated and resonant modes are described. One-dimensional photonic crystals with a defect are then investigated in detail. Formation of defect modes is analyzed theoretically in a photonic crystal with a twinning defect. The analysis makes it possible to formulate requirements on a design of a structure with defect modes tunable by external parameters. Following these guidelines, we have successfully designed, fabricated and characterized photonic crystals with thermally tunable defect modes with relative tunability reaching 60 %.
|
|
Internet marketing of the Vichy brand
Rusková, Ivana ; Stříteský, Václav (advisor) ; Shamma, Marvan (referee)
The aim of the Master's Thesis is on the basis of the analysis used to identify the weaknesses of the Internet marketing tools of the Vichy brand with focusing on the brand Normaderm and to make recommendations in terms of future campaigns. The first part begins with general information about the brand Vichy and the brand Normaderm. The second part describes the various tools that the Vichy brand uses, followed by detailed analysis of tools utilized in two marketing campaigns for the Normaderm brand. Marketing tools are evaluated from the perspective of an ordinary user and from the perspective of marketer. In the thesis there are used data extracted from internal advertising and measuring systems of L'Oreal. The final part of the work discusses the current state of the Internet marketing of the brands Vichy and Normaderm and formulates recommendations for the future.
|
|
Metaphors and Analogies in Economics and Economic Education
Langer, Tomáš ; Krpálek, Pavel (advisor) ; Šlosár, Rudolf (referee) ; Pavera, Libor (referee)
Presented thesis explores the ground at the intersection of three topics: education, relational thinking and economics. Within the sphere of economic education it investigates the use of concepts known from (i) conceptual metaphor theory, (ii) psychological model of analogical reasoning, (iii) model of generative learning from educational psychology and (iv) existing research on use of metaphors and analogies in natural sciences education. Thesis shows the potential of metaphorical origin of economic terminology for teaching economic concepts and educational use of economic media content. At the same time it proposes a notation for visualizing metaphorical mappings between domains. It addresses economic interpretation from the viewpoint of the relationship between theoretical economic models and actual economic situations, as well as from the viewpoint of the relationship between mathematical structure of the model and its economic meaning. In the first case, it shows interpretative skill, being framed within the revised Bloom taxonomy, as a complex cognitive task, in the second case it develops model of economic interpretation of mathematical structures on the basis of psychological model of analogical reasoning. In both cases it formulates highlights students should know about the analogical nature of economic models. On the basis of the model of generative learning it develops a set of visual methaphors applicable in the introductory topics of microeconomics and macroeconomics and examines effects of their use in the classes of economics. By undertaking such research it initiates the exploration of paths leading in the directions suggested by the theoretical analysis.
|
|
ASEAN - establishment, development and perspectives of the Association of Southeast Asian Nations
Chaloupková, Jana ; Veselý, Zdeněk (advisor) ; Krines, Vlastimil (referee) ; Had, Miloslav (referee) ; Gombár, Eduard (referee)
The presented study is an analysis of the regional integration process of the Association of Southeast Asian Nations ASEAN utilizing theories of international relations and integration. The dissertation studies the factors which contributed to its formation, evolution and transformation and the perspectives of its further development. ASEAN was established by virtue of Bangkok Declaration signed on August 8, 1967 among Indonesia, Malaysia, Philippines, Singapore and Thailand. Subsequently Brunei joined the Association in 1984, Vietnam 1995, Laos and Myanmar 1997 and Cambodia 1999. ASEAN's formation falls within the process of creating of regional organizations after World War II, a period of the biggest development of the institutionalization of the international cooperation. Association was based on relatively free and voluntary cooperation and political declarations. With the end of Cold War and bipolarity, with the defeat of communism and the advent of political and economic reforms in the former socialist bloc ASEAN institutionally strengthened and transformed itself, expanded its membership and the decision to form ASEAN Free Trade Area AFTA in 1992 and the Treaty on the Common Effective Preferential Tariffs shifted Association from the stage of cooperation to integration. ASEAN becomes an international organization (based on international legal agreement with the objectives, principles, internal structure etc.) through the adoption of the Charter in 2008. The Charter is the symbol of the transition process from voluntary cooperation based on political declarations to creation of an intergovernmental organization with international legal personality and legal contractual basis for community building, to strengthen the norms and principles. ASEAN has functioned over 40 years based on personal, very frequent and regular contacts between the key elites (who have significantly contributed to its creation and development), as a grouping of common practice and an emerging common identity. It is a form of intergovernmental cooperation, where member states have exclusive position in the decision process; there are no supranational institutions that would have exclusive powers. ASEAN is the initiator of the development of regionalism in Asia, a considerable number of international structures, inter-and trans-regional contacts, forums and programs. Its activities after the Cold War fall into the framework of the new regionalism The thesis tries to point out possible perspectives for its future path, especially in connection to recently born special cooperation ASEAN+3 (China, Republic of Korea, Japan) and plans for building of East Asian Community (ASEAN+3, Australia, New Zealand, India) and its Free Trade Area. Basic characteristics of ASEAN integration process: it takes place in Southeast Asia, it is a process and a state, it consists of economic, political, security, social and cultural part, the emphasis is on economic affairs, its origin is in the postwar period, the main actors are the states and their elites (from the 90's NGO's, think-tanks and civil society become active creating a broad network of socio-cultural relations and interactions), integration expands by the process of ASEAN +3 and EAS, there is a spillover effect within and outside ASEAN, integration process is gradually evolving from a lower to a higher level. Carried out research has its limitations, since it is impossible to generalize the results and formulate a clear assessment of the large international complex, the information is always limited and the social process is miscellaneous. Well-known is the fact that political elites do not act according to the theories, which they often do not know, but based on their own understanding of reality and interests of individual states, eventually groups of countries. No theory is able to explain fully the evolution of ASEAN, failing to capture reality in its full extent, and thus the prospects for the future are some speculations. From the theoretical examination of ASEAN I elect neofuncionalism, since ASEAN represents a process of empowerment, where elites play a crucial role; they share many values and objectives and contribute to the integration process. The rise of transactions in the regional grouping (trade, communication, exchange of ideas), gradually creates a sense of common identity, elites have closer contacts and their values are complementary. Southeast Asia should occupy an important place in the Czech Republic's foreign policy, taking advantage of traditional contacts with the region. Priority should be given to economic ties and active political involvement in the multilateral framework of ASEM, an important part of political dialogue should be question of human rights.
|
|
Children's group as a tool for achieving work-life balance
Vojtová, Eva ; Šmíd, David (advisor) ; Rožnovský, Lukáš (referee)
The thesis discusses the problems of reconciling work and family life, focusing on the provision of services in a children's group under Act no. 247/2014 Coll. The theoretical part defines basic concepts relevant to work-life balance and briefly summarizes the options of preschool children care in the Czech Republic. The first part also elaborates the legal formalities of so called children's group. The practical part aims to assess the current situation of a specific children's group, reveals its strengths and weaknesses, opportunities and threats and on their basis formulates recommendations for its future successful operation. When processing this paper, literature review, description, questionnaire, depth interview and a final analysis and synthesis of knowledge utilized for formulating future proposals are used.
|
guest ::
