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Applied quantitative methods of Austrian Business Cycle Theory
Kaláb, Jiří ; Svoboda, Miroslav (advisor) ; Janíčko, Martin (referee)
This paper analyzes the Austrian theory of business cycles. This theory describes the reasons that cause cyclical fluctuations in economic activity. Its foundations are built on the Austrian theory of capital. The main goal of this paper is to identify these reasons and construct a model based on them. This model attempts to capture the effect of explanatory variables on the structure of production according to Hayek's triangle. This is based on a sample of monthly U.S. data from the period 01/01/1977 to 04/01/2011. Data were tested using a linear regression model. Output from the model confirmed some of the variables as consistent with the Austrian theory of business cycles. However, there are many problems associated with applying this econometric model to the theory, whose leaders consistently opposed the introduction of mathematical methods in economic science.
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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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Analysis of students' decision making to continue on academic degree on Faculty of Economics and Public Administration
Blažková, Pavla ; Bolcha, Peter (advisor) ; Svoboda, Miroslav (referee)
This bachelor's paper analyzes decision making of students of University of Economics Prague, whether they continue to academic degree or not after graduating bachelors' degree. The target of this work is to guess costs and returns of continuing on academic degree on Faculty of Economics and Public Administration. The first part contains terminology and theory of human capital, with stress on costs and returns of human capital. In the second part are mentioned the determinants which influenced students' decision making not to continue after graduating bachelors 'degree, which were find out in empirical studies. And finally in the third part are estimated average returns and costs of investment in education of students' of Faculty of Economics and Public Administration of University of Economics Prague. The rate of return of this investment is evaluated by internal rate of return and by net present value.
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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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Which political party is best able to use my CT24 for promotion?
Tykal, František ; Hudík, Marek (advisor) ; Svoboda, Miroslav (referee)
The work deals with the time on public television ČT24. The television broadcast press conferences and briefings of the political parties. However, posting this in the public interest, as defined by the policies themselves, thus maintaining the principle of proportionality as a real political influence in society? Press conferences are inherently political confrontation with reporters who ask the questions that interest them, and to reflect citizens' interest in finding out relevant information. In many cases, politicians have deliberately omitted the questions of journalists, which is obviously very convenient for a politician, because this time it is broadcast by the de facto only unpaid advertising himself and his party. The aim of this work is to determine whether the presence of press conferences in the broadcasting ČT24 corresponds to the proportional distribution, based on the results of election to the Parliament. Which party is best able to take advantage of this way ČT24 broadcast time to promote her? Initial data comes from the television archives from 2006 until 2011. These data will be spread over smaller time intervals according to specific policy preferences in a given period and the intervals will be examined whether the occurrence of the Conference of Parties meets the requisite distribution.
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Human's behaviour during voluntary payment in restaurant
Boušková, Veronika ; Hudík, Marek (advisor) ; Svoboda, Miroslav (referee)
The aim of this work is to find out, wheter in a restaurant (which is running "pay what you want" system) people behave selfishly paying as little as possible, and what factors will influence their behavior. I carried out an experiment to find out the result. The experiment took one whole day in a small town restaurant and was not announces in advance. The price for food was upon customers to decide. Drinks were charged the usual fixed price. On the basis of the experiment I have found that acquaintance between customers and staff has positive influence on the payment. Close acquaintance between customers themselves has positive effect too. Gender and age of customers appears insignificant for this experiment. The final result of the experiment shows non selfish acting.
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What is better than GDP for measuring business cycles?
Hnilica, Petr ; Svoboda, Miroslav (advisor) ; Jaklín, Jiří (referee)
This paper has the objective to examine the aggregates which would describe the economic activity during business cycles better than does GDP. GDP counts only final goods. GDP doesn't express the structure of production. GDP also does not cover changes in the prices of property which is during business cycle very affected. But paper doesn't give a clear answer. It rather explains problems and offers several options, because the right choice depends on the ability to obtain quality data. It presents Gross National Output by Mark Skousen and Gross National Produduct by George Reisman. They are focusing on the intermediates. In paper are presented new aggregates. Change in Wealth and Consumption which takes into account the wealth of the national accounts and The Aggregate of Divine Eye which is the sum of all transactions.
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Vliv korupce a demokracie na ekonomický růst
Rais, Jonáš ; Svoboda, Miroslav (advisor) ; Bartoň, Petr (referee)
This paper analyses the effects of corruption and democracy on economic growth. Corruption is found to have significant negative effect on growth. Substantial part of the corruptions' effect is caused through corruption's transmission channels. More precisely, corruption is found to negatively affect investments, schooling, trade openness and positively affect inflation and political instability. Those effects are somewhat dampened by corruption's negative impact on government spending. Furthermore, while democracy is found to have no direct impact on growth, corruption is found to be more detrimental to growth in countries with autocratic regimes rather than in democracies. Democracy thus has mitigative effect on corruption.
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Induced demand in health care
Konečný, Martin ; Šťastný, Daniel (advisor) ; Svoboda, Miroslav (referee)
In this bachelor thesis are examined two hypotheses. The goal of the first hypothesis is to provide an evidence of physicians induced demand. This hypothesis is examined by regression analysis using fixed effects method. An assumption, that outpatient surgeons will provide less control checks when facing increased number of patients was confirmed. However, final effect is negligible. The goal of the second hypothesis is to amend paper Fuchs (1978) and find out, if better quality surgeons recommend less surgery. The results of the analysis indicate that this statement is true and Fuchs (1978) did not underestimate this effect.
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Analysis of the discount server type Groupon.com
Nedvídek, Daniel ; Svoboda, Miroslav (advisor) ; Dudáková, Tereza (referee)
My work is focused on selling the goods and services via sale servers such as Groupon.com, which is a new brand on the Internet in the Czech Republic. This work consists of the main idea description on which "the selling model" is based on, its origin, development and the other possible alternatives of selling. I tried to find out the reasons why this kind of selling is so popular from customers', sellers' and negotiators' aspects. I used a model that helps me to explain the relation between the number of sold products and selected parameters. The model is based on the dates which have already been finished on the Czech sale servers. Furthermore there are all the results of my questionnaires filled by sellers and customers as well.
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