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Do Money Rewards Motivate People? A Meta-Analysis
Čala, Petr ; Havránková, Zuzana (advisor) ; Bortnikova, Kseniya (referee)
Do financial incentives motivate people to work better? A plethora of re- search papers in psychology have long tried to answer this question, together with more recent papers from behavioral economics. We take a stock of emerging research in economics and conduct a quantitative analysis from a strictly economic point of view. We collect a total of 1568 estimates from 44 different studies and codify over 30 variables to capture the underlying nature of the effect money has on motivation and performance. A range of statistical tests suggests the overall effect to be virtually zero, which we confirm using a specific design check. We then employ Bayesian and fre- quentist model averaging to identify the most prominent determinants of the effect. Among these, publication bias pushes this effect upwards the most, along with laboratory setting and positive framing in the task. Six variables then pull the effect in the opposite direction - school setting, charitable giv- ing, cross-sectional data, self-reward, quantitative performance, and students subgroup. 1
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Daylight Saving Time and Traffic Safety: Evidence from the Czech Republic
Mironova, Olga ; Havránková, Zuzana (advisor) ; Červinka, Michal (referee)
Interní / Internal Abstrakt V této prace analyzujeme vliv střídání zimního a letního času, DST, na dopravní nehody v krátkém období a efekt tmy v dlouhodobém období. Použitím modelu regresní diskontinuity a negativního binomického regresního modelu odhadujeme, že dopad DST zvyšuje o 7 % počet celkových nehod v krátkodobém období a efekt temnoty významně zvyšuje všechny typy nehod v dlouhodobém období v České republice. Výsledek práce ukazuje, že letní čas během celého roku by mohl snížit počet všech typˇu nehod.
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Daylight Saving Time and Stock Market Returns: Evidence from the Visegrad Group
Kúdeľa, Peter ; Havránková, Zuzana (advisor) ; Novák, Jiří (referee)
Do investors make bad decisions following the clock change? If so, there would be traces of such anomaly in market data. In this thesis, we investigate these traces focusing on the stock markets of the Visegrad Group, known to be pre- vailingly illiquid. We combine the most recent financial data with the ARIMA- GARCH framework while employing brand-new Bayesian techniques. Using several robustness checks, we show that such e ect cannot be traced in these markets. While we do not claim to challenge the seminal works in this field, we do support the evidence that the e ects of daylight saving policy do not pertain to less liquid markets. JEL Classification C11, G12, G14, G41 Keywords daylight saving time, market anomaly, Visegrad Group, Bayesian analysis Title Daylight Saving Time and Stock Market Re- turns: Evidence from the Visegrad Group
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Income Inequality and Happiness: A Meta-Analysis
Kamenická, Lucie ; Havránková, Zuzana (advisor) ; Chytilová, Julie (referee)
The relationship between income inequality and happiness is central to a host of welfare policies. If higher income inequality puts people down, advocating for income redistribution from the rich to the poor could make society happier. We show, however, that this popular consensus on the relationship's direction is rather absent in the academic literature. Based on the 868 observations col- lected from 53 studies and controlling for 62 aspects of study design, we use state-of-the-art meta-analysis techniques to identify several important drivers of the efect. Unless each study gets the same weight, the literature is driven by publication bias pushing the estimates against the popular consensus. While geographical diferences dominate among the systematic infuences of the re- lationship's magnitude, the relationship is also strongly afected by various methods and data the authors use in the primary studies. Most prominently, it matters if authors control for diferent individual's characteristics, such as perceived trust in people or their health status.
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The Effect of Temperature on Suicide: A Meta-Analysis
Bartušek, Daniel ; Havránková, Zuzana (advisor) ; Bajzík, Josef (referee)
In this thesis I investigate the empirical evidence on the relationship between temperature and suicide rates. The previous survey on the relationship sug- gested that a 1řC increase in temperature is associated with a 1% increase in suicide risk. An estimate of this magnitude would play a significant role in the computation of the social cost of carbon, a concept used to set climate-related regulations by policymakers around the world. I challenge this conclusion using novel, state-of-the-art meta-analysis methods. By expanding the dataset and correcting for publication bias I show that the effect of temperature on suicide rates is three times less than previously suggested, deeming the relationship economically insignificant. Moreover, I did not find any robust evidence for a specific study design that would systematically influence the magnitude of the estimated effect quantifying this relationship. Keywords temperature, weather, climate, suicide, suicidality Title Effect of Temperature on Suicide - Meta Analysis 1
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The Economics of Face Masks: application of VSL's controversy and GDP's critique on the case of the Czech face masks sewing initiative and its value estimation
Malá, Markéta ; Schwarz, Jiří (advisor) ; Havránková, Zuzana (referee)
The thesis describes the economic context of the face masks sewing initiative in the Czech Republic (the prompt and extensive help of volunteers with tackling the face masks' shortage during the COVID-19 pandemics) and attempts to estimate its economic value. Even in the most conservative scenario that assumes efficacy of face masks to be only 8 %, the results suggest that the initiative still created lower units of billions CZK in economic value as a result of contributing to the prevention of 6,290 - 18,825 infections, 1,006 - 3,012 hospitalizations and 95 - 284 deaths only within the first month. If we assume 20 % masks efficacy, the initiative's value equals to 1 - 9 % of the Czech monthly GDP .
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Does Daylight Saving Time Save Energy? Evidence from the Czech Republic
Častorálová, Lucie ; Havránková, Zuzana (advisor) ; Kopečná, Vědunka (referee)
A b s tra c t The recent discussion of the European Parliam ent, member states, and citizens triggered the question whether there is s till a need for bi-annual clock shifting from the perspective of energy savings. Employing the difference-in-differences method on hourly data on electricity consumption between 2006 and 2017, the study con cludes th a t daylight saving tim e policy reduces aggregate electricity consumption by 0.35 % in the Czech Republic. Moreover, daylight saving tim e leads to 1% savings on domestic residential electricity consumption. Overall, daylight saving tim e increases electricity consumption in the morning, bu t decreases electricity consumption in the evening by greater amount. We have estimated th a t more than 65 % of to ta l electricity savings attributable to daylight saving tim e arose from effect of the daylight saving tim e on residential electricity consumption. 1
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Income Inequality and Economic Growth: A Meta-Analysis
Posvyanskaya, Alexandra ; Havránková, Zuzana (advisor) ; Bauer, Michal (referee)
The impact of inequality on economic growth has become a topic of broad and current interest. Multiple researches investigated the issue but the disparity of opinions and empirical results is huge. The present thesis revises the pri- mary literature through a meta-analytical approach applying Bayesian Model Averaging (BMA) estimation technique. We examine 562 estimates collected from 58 studies published between 1991 and 2015. I find the evidence of the publication bias presence in the literature. The authors of primary studies tend to report preferentially negative and significant estimates. The BMA results suggest that the effect of inequality on growth is not straightforward and is likely not linear. A single pattern for inequality/growth relationship is not fea- sible since the results vary across used income inequality measures, estimation methods and data structure and quality. JEL Classification D31, O10, C11, C82 Keywords meta-analysis, inequality, economic growth, Bayesian model averaging, publication bias Author's e-mail 23376990@fsv.cuni.cz Supervisor's e-mail zuzana.havrankova@fsv.cuni.cz
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