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A Price Analyses on the Imperfect Competitive Market
Fait, Petr ; MBA, Jiří Rozsíval, (referee) ; Škapa, Stanislav (advisor)
To sum up, Imperfect competitive markets are results of influence of various market factors. They consist of economies of scale, variety of legal restrictions, a high amount of production costs, a product differentiation, a territorial dispersion and an imperfect consumer awareness of the market. Firstly, the principal sorts of imperfect competitors are monopolies, oligopolies and monopolist competition. The ability to stipulate the price of a product is characteristic for these kinds of imperfect competitors. Thus they are called price-makers. These imperfect competitors deal with a diminishing demand curve, in other words there is a dependence of a price on the volume of production. Moreover, this ability is used to maximalize a profit. Referring to the imperfect competitor, the most common method of maximalizing the profit is price discrimination, therefore the company is able to divide its customers into several groups and stipulate a different price of a same product for each of them. Nevertheless, in practice due to above mentioned factors we run across the imperfect competition in most of the cases. In addiction, the imperfect competition might be considered as a theoretical state, which is very similar to share dealing in general.
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A Price Analyses on the Imperfect Competitive Market
Fait, Petr ; MBA, Jiří Rozsíval, (referee) ; Škapa, Stanislav (advisor)
To sum up, Imperfect competitive markets are results of influence of various market factors. They consist of economies of scale, variety of legal restrictions, a high amount of production costs, a product differentiation, a territorial dispersion and an imperfect consumer awareness of the market. Firstly, the principal sorts of imperfect competitors are monopolies, oligopolies and monopolist competition. The ability to stipulate the price of a product is characteristic for these kinds of imperfect competitors. Thus they are called price-makers. These imperfect competitors deal with a diminishing demand curve, in other words there is a dependence of a price on the volume of production. Moreover, this ability is used to maximalize a profit. Referring to the imperfect competitor, the most common method of maximalizing the profit is price discrimination, therefore the company is able to divide its customers into several groups and stipulate a different price of a same product for each of them. Nevertheless, in practice due to above mentioned factors we run across the imperfect competition in most of the cases. In addiction, the imperfect competition might be considered as a theoretical state, which is very similar to share dealing in general.
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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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