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Application of cooperative game theory in Cournot oligopoly
Eryganov, Ivan ; Mazal,, Jan (referee) ; Hrdina, Jaroslav (advisor)
This Master’s thesis deals with the application of cooperative game theory for solving the problems of Cournot's oligopolies. The knowledge of oligopoly theory and game theory has been elaborated to build a model describing the behavior of companies at a market that meets the preconditions of Cournot's oligopoly. The definition of cooperative game is based on the -characteristic function, which takes into account, compared to classical methods, that companies which are not in the coalition are pursuing their own profits, not suppressing coalition positions. The properties of the resulting cooperative games are examined in detail, focusing on monotony and convexity. Several theorems about these properties have been derived and their economic interpretations are given. Also, the question of calculation of the -characteristic function using the best-reply dynamics algorithm is being solved, and its convergence for a given type of games is justified. The model is applied to data from the oil market, which is further characterized by the results of the cooperative game.
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Application of cooperative game theory in Cournot oligopoly
Eryganov, Ivan ; Mazal,, Jan (referee) ; Hrdina, Jaroslav (advisor)
This Master’s thesis deals with the application of cooperative game theory for solving the problems of Cournot's oligopolies. The knowledge of oligopoly theory and game theory has been elaborated to build a model describing the behavior of companies at a market that meets the preconditions of Cournot's oligopoly. The definition of cooperative game is based on the -characteristic function, which takes into account, compared to classical methods, that companies which are not in the coalition are pursuing their own profits, not suppressing coalition positions. The properties of the resulting cooperative games are examined in detail, focusing on monotony and convexity. Several theorems about these properties have been derived and their economic interpretations are given. Also, the question of calculation of the -characteristic function using the best-reply dynamics algorithm is being solved, and its convergence for a given type of games is justified. The model is applied to data from the oil market, which is further characterized by the results of the cooperative game.
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Global Oil Price and Its Impact on the Russian Economy
Suetina, Anna ; Jiránková, Martina (advisor) ; Hasík, Gabriel (referee)
The aim of this bachelor thesis is to determine oil price impact on the economy of the Russian Federation. The first chapter focuses on general information about oil and global oil price. Also it examines the history and the current situation of international oil trade and its dependency of the dynamics of global oil price. In the second chapter author describes Russian oil market and shows the significance of oil industry for the Russian economy. The last chapter analyses the impact of oil price on particular indicators of the Russian economy, i.e. on its efficiency, general price level and international trade. Conclusion includes a brief summary of global oil price dynamics and examined connections.
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