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Economic Efficiency, Competition and Equilibrium in Heterogeneous Production
Průša, Jan ; Benáček, Vladimír (advisor) ; Pertold-Gebicka, Barbara (referee) ; Klein, Peter G. (referee) ; Daraio, Cinzia (referee)
This thesis provides a bridge between two strands of efficiency literature. As we describe in the first part, the theory of efficiency is generally focused on equilibrium and mild devia- tions from it. In contrast, empirical studies document large variations in efficiency that are persistent in real economies. We describe two theoretical concepts as driving forces behind fluctuating performance of companies. Firstly, efficiency is derived from competition and is dynamic by its nature. As production happens in time, changing supply and demand conditions induce the ne- cessity to continuously adjust production processes. These changes are implemented under conditions of uncertainty, which directly leads to regular inefficiencies, implying that out- of-equilibrium situations are normal rather than rare. Secondly, standard models typically rely on price exogeneity to separate technical and allocative components of overall economic efficiency. We point out that this assumption is likely to fail due to extreme heterogeneity of the units of analysis. We elaborate in detail on the significance of heterogeneity in efficiency models, especially the heterogeneity of capital. As a result we demonstrate how various combinations of heterogeneous assets imply further swings in efficiency. We show that integrating both...
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The analysis of impacts of the foreign exchange intervention making by CNB on the company CGI
Macháček, Marek ; Rotschedl, Jiří (advisor) ; Čermáková, Klára (referee)
The aim of this thesis is to determine the impact of the foreign exchange intervention, which was conducted in November 2013, based on analysis of production and profit function. From the results of each analysis I can accept the hypothesis about the negative impact of the foreign exchange intervention on the company CGI. Analysis of the production function shows that if the firm is profit maximalist, it would have reduced number of employees by approximately by 30 % after the intervention. The negative impact of the intervention was also confirmed by the higher gain on the real profit function when there is changing the prices of inputs and outputs in terms of no intervention. In an analysis of a hypothetical profit function assuming a fixed variable, the hypothesis was not confirmed and contrary the higher company profit was reached after the intervention. The work also brings an interesting and valuable finding, how many employees should the company hire and what is the optimal size of the product to maximize its profit.
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Optimization in systems of biological populations
Hašek, Pavel ; Chrobok, Viktor (advisor) ; Černý, Michal (referee)
This paper deals with optimization in systems of biological populations adjusted to harvesting. First, a description, behavior and evolution over time in basic models of Malthus, Verhulst and Gompertz, is solved in case of not harvesting and then harvesting. There are two options for harvesting, continuous and discrete harvesting. In case of continuous harvesting we have two ways how to harvest,with constant yield and constant effort. With simplifying assumptions it is possible to combine continuous and discrete model in the form of profit function for the harvesting and also gives us ability to implement harvesting costs. For profit-seeking function is best solved using numerical methods with model examples with help of the Maple solver. The last chapter is devoted to the introduction of interest to the harvesting models.
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