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Consequences of various emission allowances trading models
Zechmeister, Pavel ; Mičúch, Marek (advisor) ; Schwarz, Jiří (referee)
This paper is based on three economical experiments, which simulate three stages of EU ETS system. The fact, that two stages of this system are almost behind us, gives us chance to confront the results of experiment with data from real market. Market trends in experiment were almost identical as the real market. Concerning the third stage we can, thanks to equality of the results of the first two experiments with market results, outline the continuance this system in its third stage. We can affirm, that implementation of auction will not significantly influence on the price of emission allowances.
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Are pay-per-bid auctions a type of lottery?
Trnovská, Zuzana ; Svoboda, Miroslav (advisor) ; Potužák, Pavel (referee)
This paper examines whether pay-per-bid auctions are a type of hazard, alternatively a type of lottery. The testing is carried out on the data from auctions that took place on the Czech auction portal Bonus.cz. Based on the comparison of defined hazard properties with the attributes of pay-per-bid auctions I have concluded that these auctions are rather a type of hazard than a way of shopping. I further use statistical testing to show the use of strategies which increase the probability of winning the auction. The presence of these strategies proves that the possibility of winning may be affected by players and thus these auctions cannot be considered a type of lottery as is defined in the currently valid Czech code of law.
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Galerie v Praze a cestovní ruch
Sýkorová, Eva ; Netková, Jarmila (advisor) ; Nováček, Jan (referee)
Práce charakterizuje oblast kulturního turismu a analyzuje činnost galerií v Praze. Zabývá se otázkou financování galerií. Případové studie Galerie Rudolfinum rozebírá aspekty propagace výstavy. Diplomová práce pojednává také o galerijní pedagogice,aukcích a nových vývojových tendencích v oblasti umění.
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Analysis of the behavior and decision-making of the Dutch auction and the ascending auction with one price of homogeneous product
Svatošová, Ludmila ; Hudík, Marek (advisor) ; Svoboda, Miroslav (referee)
This work deals with the behavior and decision making of players in the English auction with homogeneous goods. To analyze the behavior and decision making, laboratory experiment was conducted. It contains the description and analysis of laboratory experiment, which was carried out for the purposes of this thesis. The fundamental question that this work tries to answer is whether the frequency of the optimal price varies according to auction environment and whether, in all environments the choice of optimal strategy prevails. The experiment used three types of environments, each of them is characterized by a different probability distribution of values. Analysis produced as follows: first in each auction round the optimal prices was determineds and then it was compared to the price actually achieved. Based on this analysis it was found that the frequency of optimal price choices doesn't differs significantly depending on the environment. However , the optimal price was achieved only in very few rounds of the auction.
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Player strategies in pay-per-bid auctions
Cestr, Ondřej ; Svoboda, Miroslav (advisor) ; Hudík, Marek (referee)
This paper analyzes impact of concrete game strategies used by players on auction sites with pay-per-bid auction system, which spread to Czech market. In my analysis I use an individual aggression model, presented by Byers, Mitzenmacher a Zervas (2010). By using data sets of complete bidding records acquired from Bonus.cz I found that winners of auctions are much more aggressive than usual. Wide spread waiting strategy, which uses low aggression method is represented between winners only with less than 9%.
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The international tea trade
Krňávková, Jana ; Gullová, Soňa (advisor) ; Klosová, Anna (referee)
The purpose of this thesis is to analyze the international tea trade. The first part of this thesis covers the major producers and consumers of tea trade. The second part of the thesis covers different methods on how to trade such as trades done through auctions and new ways of trading such as forward prices as well as direct prices also known as direct sales. The third part of the thesis covers perspectives and new trends of tea trading.
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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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Strategies in pay-per-bid auctions
Podešva, Jiří ; Svoboda, Miroslav (advisor) ; Dudáková, Tereza (referee)
In this paper I analyze pay-per-bid auctions. On the bids made in auctions I research strategies of players. I confirmed the hypothesis that players timed signal bids. I have demonstrated that shortening the interval extension auction decreases signaling in the auctions. Then I haven't demonstrated reduction signaling in beginner auctions. I also concluded, that the benefits in form of restoration of half used coupons for the player who was at the second place, doesn't increase the average number of bids made in auctions. My final conclusion is that the auctions with cheaper goods introduce on average higher returns for auctioneer than the auctions with more expensive goods.
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