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Prohibition versus legalization of drugs from the perspective of law and economics
Sekret, Jan ; Chytilová, Helena (advisor) ; Hraba, Zdeněk (referee)
Název diplomové práce v anglickém jazyce, abstrakt v anglickém jazyce a klíčová slova Title of the thesis: Prohibition versus Legalization of Drugs from the Perspective of Law and Economics Abstract Drug prohibition has lasted for over a hundred years. In the last decade, however, more and more states are moving from restrictive drug policy to milder forms of drug regulation, including their partial legalization. This master's thesis is one of the first Czech studies that comprehensively deals with the prohibition and legalization of drugs from the perspective of law and economics. The main aim of this thesis is to analyze selected economic and legal aspects of current drug prohibition and possible legalization of drugs. Several methods have been used to achieve this objective, with the greatest emphasis being placed on the demand-supply analysis of the drug market, which is present in the economic part of this thesis. This analysis makes it possible to understand how drug market is affected by state interventions, why these interventions often fail or identify benefits of drug legalization. This is followed by description of the most significant economic implications of drug use and their prohibition. Consequently, the next section deals with a brief overview of the history of economic thought regarding...
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Prohibition versus legalization of drugs from the perspective of law and economics
Sekret, Jan ; Chytilová, Helena (advisor) ; Hraba, Zdeněk (referee)
Název diplomové práce v anglickém jazyce, abstrakt v anglickém jazyce a klíčová slova Title of the thesis: Prohibition versus Legalization of Drugs from the Perspective of Law and Economics Abstract Drug prohibition has lasted for over a hundred years. In the last decade, however, more and more states are moving from restrictive drug policy to milder forms of drug regulation, including their partial legalization. This master's thesis is one of the first Czech studies that comprehensively deals with the prohibition and legalization of drugs from the perspective of law and economics. The main aim of this thesis is to analyze selected economic and legal aspects of current drug prohibition and possible legalization of drugs. Several methods have been used to achieve this objective, with the greatest emphasis being placed on the demand-supply analysis of the drug market, which is present in the economic part of this thesis. This analysis makes it possible to understand how drug market is affected by state interventions, why these interventions often fail or identify benefits of drug legalization. This is followed by description of the most significant economic implications of drug use and their prohibition. Consequently, the next section deals with a brief overview of the history of economic thought regarding...
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Bitcoin from the perspective of law and economics and its implications
Szewczyková, Julie ; Chytilová, Helena (advisor) ; Dupáková, Lenka (referee)
SELECTED ASPECTS OF BITCOIN AND ITS IMPLICATIONS FROM THE STANDPOINT OF THE LAW AND ECONOMICS Abstract Bitcoin is one of the best-known examples of a decentralized convertible cryptocurrency based on blockchain technology. The diploma thesis deals with the main aspects of bitcoin and bitcoin payment networks in complex economic analysis based on the use of standard economic apparatus. The economic analysis is backed by a thorough and relevant legal research. The main goal of the diploma thesis is complex economic and legal analysis of bitcoin. In economic analysis, the emphasis is put on the use of supply-demand analysis, which outlines the basic factors affecting supply and demand for bitcoins. Based on a clear delineation of these factors, the thesis is able to analyse specific aspects of bitcoin. Diploma thesis analyzes the impacts of decentralized setting, as well as risks associated with anonymity of users, crime in connection with bitcoin, time delays in transaction verification, technical and energetic demands on mining, high transaction costs and internet connection needs. Each of these aspects is compared to existing payment institutions or systems. The thesis also examines the legal regulation of bitcoin. Due to the absence of a complex legal regulation, the diploma thesis tries to apply the...
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Credit rating from the perspective of law and economics
Belvončíková, Barbora ; Chytilová, Helena (advisor) ; Seknička, Pavel (referee)
Credit rating is an important financial indicator of the debtor's ability to repay the debt duly and on time and it is expressed in a simple form of credit score. It has been talked about the issue of credit rating particularly in context of the financial crisis 2008 because of the failure of credit rating agencies and their contribution to global dimensions of the crisis. This thesis critically assesses the European legal regulation of credit rating in the light of 2008 financial crisis. The evaluation is carried through an economic analysis of law while also using the knowledge of behavioural economics, so that efficiency of both individual provisions and legal regulation as a whole is examined. The fundamental problem of current regulation is its ambiguity, as on the one hand it promotes greater institutionalization of credit rating and on the other hand it promotes greater market discipline of financial market participants. This dichotomy is inefficient because it does not provide for clear incentives neither for investors, nor for issuers or credit rating agencies. Key finding of this thesis is that credit rating regulation would be more efficient if it was aimed exclusively at supporting market discipline. It is important to draw conclusions from analysis of the efficiency of current...
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Legal and economic aspects of digital currencies with a focus on the Bitcoin
Kovařík, Jan ; Borkovec, Aleš (advisor) ; Chytilová, Helena (referee)
The aim of this thesis is to describe the basic functional principles of digital cryptocurrencies and its economical and legal aspects. Digital cryptocurrencies are young and dynamic phenomenon in financial transactions, which represents an alternative to the traditional national currencies. This thesis is divided into three main parts. In the first part the digital currencies and its function is discussed, the economical aspects of digital currencies and its impact on the theory of money are the main theme of the second part. The final, third part is discussing the legal aspects of digital currencies within the Czech legal system. The first part of this thesis introduces digital currencies, the operation of the whole system and also the basic terminology related to the digital currencies, which is necessary for understanding the subject. These essential aspects and features are being mostly illustrated on the case of the oldest and most famous digital currency - bitcoin - in favour of clarity. The second part of this thesis is discussing the economical aspects of digital currencies. The opening of this part is dedicated to the terminology, particularly terms "money" and "currency". Clear definition of these terms and setting out the differences between them in the sense of economic theory is...
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Nudging v zdravotníctve - cesta k vyšším mieram očkovania?
Turányi, Samuel ; Chytilová, Helena (advisor) ; Fidler, Armin (referee)
This master thesis investigates impact of nudging on the level of vaccination rates against measles by utilizing insights from behavioral economics. In the theoretical part, brief overview of behavioral economics and its contributions to health economics is outlined. Additionally, direct application of nudging concepts and behavioral features in healthcare is illustrated, primarily focused on the vaccination issue. In the analytical part, two neighboring countries have been chosen for the research, Austria and Czech Republic and their regions Vorarlberg, Prague and South Bohemia. Their rates of vaccination based on data gathered from both private institutions as well as public sources were compared using documentary comparative analysis as a research method. Two hypotheses were set for testing: (1) Czech mandatory vaccination policy against measles had been historically more effective than Austrian opt-in system and (2) Choice architecture had profound effect on levels of coverage. None of the hypotheses was refuted. Research was narrowed down to examination of measles due to data availability. In final part, implications from findings were elaborated on. Subsequent policy recommendations were presented, referring to the type of vaccination system, incentives, behavioral as well as historical factors and concepts of nudging like peer pressure, framing, priming, loss aversion or three heuristics.
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Altruism in economics: Does purely unselfish altruism exists?
Tobiášová, Magdaléna ; Stroukal, Dominik (advisor) ; Chytilová, Helena (referee)
The thesis deals with altruism and searches for the existence of its purely unselfish form in economic theory by exploring the motives of altruism and works with the hypothesis that all altruistic behavior is motivated by altruists own utility. It focuses primarily on the economic theory of altruism and the blending of neoclassical economics, which deals with the rational behavior of economic subjects with the definition of altruism as irrational behavior. To develop the phenomenon of altruism from the point of view of economic theory, it also deals with altruism in the theory of games. This alternative approach describes altruism as reciprocal behavior and accesses it through relational goods.
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Impact of financial incetives for blood donation
Platilová, Alena ; Špecián, Petr (advisor) ; Chytilová, Helena (referee)
The thesis deals with approaches of neoclassical and behavioral economics in the field of blood donation. The key question is whether financial incentives have a positive or negative impact. The main conclusions of world studies of behavioral economists concern the crowding out effect, the negative impact of financial incentives. Information on the blood donation system was provided by the Institute of Health Information and Statistics of the Czech Republic, which analyzes the system of blood donation in the Czech Republic. Further data was obtained from a questionnaire survey which tested the attitude of University students towards financial incentives for blood donation. Using a regression analysis, the cost of one blood sampling can be determined through explanatory variables, including the influence of the behavioral approach of the so-called framing effect. The most important determinants of the cost per blood collection are age, education, and attitude to rewarding donation.
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Determinants defining pay of NHL players
Sigmund, Pavel ; Chytilová, Helena (advisor) ; Babin, Jan (referee)
The thesis is focused on examination of various determinants having effect upon National Hockey League players´ pay. It also aims at the role of players´ individual skills, personality as well as characteristic of each club. I have decided to test pay determination on the base of Jones and Walsh model (1988), which uses a set of specific variables and is formed and tested for each post (goalkeeper, defender, forward). I enriched the model with other variables (market value of the club, annual profit, average price of a ticket). The empiric part contains regression analysis (OLS) of data sets of all players - newcomers in season 2015/16. Skill and experience of the players are the most relevant factors of the model. The influence of team characteristic appeared to be (compared to the previous research) statistically less significant (close to 0). Pay discrimination of European NHL players against the ones from North America was not proved. In spite of the supposition positive effect of European origin on players´ pay emerged.
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Observing the Unobservable: Education and Signaling in Middle-Income Countries
Kashkarov, Daniil ; Špecián, Petr (advisor) ; Chytilová, Helena (referee)
The thesis examines the role of education signaling in dealing with information asymmetry on labor markets of lower-middle-income countries. The original hypothesis states that signaling component of education has significant effect on hiring decisions and wages in this group of states. To test the hypothesis, the model of employer learning is launched on individual cross-section data for four lower-middle-income countries: Armenia, Bolivia, Ghana and Vietnam. The natural logarithms of hourly wages are regressed on years of education, experience, measures of employees' aptitude, education-experience and aptitude-experience interaction terms. Maximum of parents' education, self-reported cognitive skills score and job-related skills score are used as proxies for workers' ability. No reliable evidence of education signaling being applied on labor markets of the studied countries was found, although information asymmetry is present.
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