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Analysis of the influence of selected qualitative characteristics on price apartments in Prague in the period 2007 -2012
Vinterová, Michaela ; Koubek, Ivo (advisor) ; Pertold, Filip (referee)
The aim of this thesis is to examine the influence of selected characteristics of sold flats (2007-2012) in Prague on the selling price. The analysis is made on group of similar flats of size 3+1 and 3+kk. Data consist of 1185 observations. I am using the hedonic price method to investigate the influence of selected variables. The results indicate that with rise in availability by 1% the price of flat decrease by 0, 13%, with rise of its size the price rise by 0,92%. The price of flats rise by 13% when the cooperative ownership change to personal ownership The change of construction materials from panel to bricks rise the price of flat by 23%, the reconstruction of bathroom rise the price by 5,7%. Other finding is that overall reconstruction rises the price by 11%. Garage increase the price by 24%. Finally the hypothesis that flat in the ground floor is negatively viewed and the price of flat decrease by 2, 5%.
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Why Do the Poker Players Deal More Often on High Stakes Than on Low Stakes Tournaments? Poker Deals Case.
Rytíř, Miroslav ; Špecián, Petr (advisor) ; Koubek, Ivo (referee)
This thesis aplied tools of economic analysis on situation in poker, where players choose to finish tournament or make a deal and take certain amount of money immediately. Theoretical frame consists of economic theories for decesion under risk and poker literature. Hypotheses are tested with regresion analysis on dataset which I obtain by my own observing. Estimations support hypothesis that players are risk-averze and loss-averze. In bigger tournaments are bigger prizepools and that is the reason, why players in bigger tournament make deals more often. Moreover deal is more likely, when players are approximetly equal skilled in poker.
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Why Does the Instant Food Consumption Decline? Analysis of Demand Determinants
Pazdera, Martin ; Koubek, Ivo (advisor) ; Špecián, Petr (referee)
There has been a significant decline in instant food market. I investigate the determinants of demand for instant food in this thesis. Oligopoly market structure motivates me to investigate the demand for instant food produced by particular firm. I use yearly and quarterly scanner data for instant food sales on the retail market in Czech Republic in the empirical part of the thesis. The yearly data analysis finds healthy diet trend as a possible cause of instant food market decline. According to quarterly data analysis I find instant food as an inferior good with income elasticity -0,6295. Both these factors can affect stagnant or decreasing revenues of instant food producers. Analysis of demand for instant food produced by particular firm illustrates strong relation between demanded quantity of producer's instant food and prices of his own and competing production. This indicates that price increase is not an optimal strategy in order to stabilize revenues of instant food producer.
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Trh hráčů americké Národní fotbalové ligy: Jsou hráčům stále vypláceny mzdy odpovídající tržní situaci monopsonu?
Miškovský, Karel ; Hudík, Marek (advisor) ; Koubek, Ivo (referee)
The main goal of this thesis is to find out whether National football league players are, even 15 years after the birth of unrestricted free agency, still paid monopsonistic salaries or whether competition among NFL teams eliminated them. After a theoretical discussion, which will help to form expectations about the player market, models in line with the standard theory of labor compensation and with Becker's human capital theory are estimated. The part of the research following the standard theory focuses mainly on estimations of players' marginal revenue product and subsequently on comparison of their wages with their MRP. To do so, OLS regressions, as well as quantile regressions, are run. The part of the research following the human capital theory has a supporting role and is used to further confirm the previous findings. It is represented by OLS player salary estimation. The hypothesis that players under a full control of their teams are still paid salaries below their MRP cannot be rejected, thus confirming a presence of monopsonistic salaries. A significant effect of free agency status on player salaries is also found. Exclusive rights players are paid significantly lower salaries than all free agents, while restricted free agents are paid significantly lower salaries than unrestricted free agents. Superstar players are found to have salaries in excess of their MRP regardless of their free agency status.
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Determinants of Prague rental prices
Nesnídal, Daniel ; Koubek, Ivo (advisor) ; Mirvald, Michal (referee)
This bachelor thesis analyzes relationships between specific properties of realities and rental prices in the capital city region of Prague. The aforementioned analysis utilizes principles of hedonic pricing and draws on a dataset consisting of 2 357 observations collected in March 2013. Final results indicate that the most significant determinant of rental price may be the reality's affiliation with a specific city district. For example, results suggest that a rental price of reality in Prague 9 will be 16 percentage points lower than a rental price of identical reality in Prague 1. The findings also indicate that another influential factor may be whether the reality is newly constructed, in which case the rental price of such reality increases by 14,3 percentage points.
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The future of solar power plants in the Czech Republic
Choutka, Tomáš ; Zemplinerová, Alena (advisor) ; Koubek, Ivo (referee)
The thesis called "The Future of Solar Power Plants in the Czech Republic" is oriented to the characteristics of production of electric energy in solar power plants which are supported by many legislative incentives. We are currently standing in the situation of reducing energy tariffs for production of electricity from solar power plants in most European countries because of their unbearable impact on consumers and national budgets. The aim of this thesis is to analyze impacts of the energy tariffs for solar energy and to explain increase of installed capacity of solar power plants by forming a model for calculating financial return of an investment in construction of solar panels. The thesis points out that the incentives are still very high and interest in construction of solar power plants will probably endure even in the future as long as these favorable legislative conditions are set. This situation will result in bringing more additional costs for the end-users of electric energy.
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Ekonomové a minimální mzda
Jirásek, Tomáš ; Šťastný, Daniel (advisor) ; Koubek, Ivo (referee)
The minimum wage is a tool of public policy which despite being in favor of politics tends to be in displeasure of economists. Recent consensus study shows (Alston, 1992; Fuller, 2003) that consensus on minimum wage among economists has a tendency for weakening. The goal of my thesis was to map the consensus of economists on minimum wage in the course of the 20th century and to help to answer the question how the view of economists has changed on this topic and which events were of greatest influence. As a way of measuring the consensus I chose the studying of academic articles because it is the direct output of academic community. My study shows that from the 1930s we can see a constant strengthening of ideas that a minimum wage has a negative effect on economy.
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Does monopson exist on the player's market in the NBA?
Pilmaier, Jan ; Hudík, Marek (advisor) ; Koubek, Ivo (referee)
This paper deals with the question whether the structure of the labor market in NBA is monopson or not. On the data from the NBA season 2011/12 I estimate player's marginal productivity using two stages least square model. In the first step I determine winner-loss ratio based on players' performance statistics. In the second step I use the results from the first model to predict team's revenues. This effect is controlled by other economic and social variables. Based on this model's results I determined that even though this market is not perfectly competitive, the results are not strong enough for monopson. Short player market could be described as winner-take-all market while on the market for centers there is a balance between pivots and owners and players can obtain their salary equal to their productivity. Then I discovered the superstar effect, according to which stars get bonuses to their salary against the rest of players. Finally it was found out that rookie contracts decrease players' rewards. On the market for centers the life cycle hypothesis holds.
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