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EU's competition policy v. USA's antitrust : key differences to know
Luňáčková, Petra ; Hrubý, Zdeněk (advisor) ; Gutiérrez Chvalkovská, Jana (referee)
This thesis is a comparative study of European competition policy and American antitrust. It introduces both policies and focuses mostly on key differences between them, especially on the non-price vertical restraints and monopoly pricing. The economic theory is indecisive about the effects of vertical agreements on competition. The EU finds them often anticompetitive compared to the U.S. that believes in their procompetitive or neutral impact. The case studies illustrate how antitrust measures are applied and what consequences they might have in terms of market structure, innovation, motivation or deterrence. The findings are backed by law systems, historical development and in particular by economic discussion of antitrust efficiency. The analysis suggests that without a suitable economic theory that would explain the outcome of market interventions as well as corresponding welfare effects the differences are hard to overcome.
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The relationship between the European antitrust policy and national competition authorities
Bečičková, Hana ; Streblov, Pavel (advisor) ; Hrubý, Zdeněk (referee)
The main goal of this thesis is to compare the behavior and the institutional embedding of the national competition authorities of member countries of the EU and to assess the level of harmonization among them and in comparison to the institutions dealing with competition policy on the European level. The main contribution is a complex summary of the most important principles of competition policy functioning, the data collection and the construction of a simple competition policy harmonization index. By applying this index on a set of member countries, a high level of harmonization among the individual competition authorities was found. However, by comparing the results of the index for two non-member states, it is not possible to confirm the hypothesis of the membership in the EU being the only explication of the level of harmonization found.
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Public Procurement of homogeneous goods: Czech Republic case study
Soudek, Jan ; Skuhrovec, Jiří (advisor) ; Hrubý, Zdeněk (referee)
The goal of this thesis is to show that institutional and procedural characteristics are affecting the final price of the public procurement. In order to be able to compare the tenders among each other, only public procurement of homogeneous goods is analyzed. The presented model attempts to explain a variation in final price per one unit as a function of estimated unit price, market price and characteristic of procurement procedure - type of procedure, number of bidders and use of electronic auction. In case of electricity and gas public procurement final price elasticity with respect to the estimated price tents to be higher than such elasticity with respect to the market price. This result suggests high rigidity in public procurement procedures. We show that such ineffectiveness is reduced by using open procedure, electronic auction or attracting more bidders.
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Energy taxation as an environmental policy instrument
Cimrová, Michaela ; Hrubý, Zdeněk (advisor) ; Kracík, Jiří (referee)
The recent trend of the environment protection leads to introduction of new policy instruments to reach given goals. The most effective seem to be incentive-based instruments as taxes on energy products and electricity because they efficiently influence consumer and producer behaviour in order to mitigate energy consumption. This thesis is motivated by increasing requirements of implementing such environmental policy into individual tax systems. Energy taxation increases prices of the products, thus leads to the lower energy consumption and the emission abatement. Moreover, if additional revenues are used to cut existing distorting taxes, other positive effects can be reached. This will be discussed as the question of double dividend hypothesis. In the Czech Republic, the year 2008 denoted an important milestone when new taxes on solid fuels, gas and electricity were introduced as the first phase of ecological tax reform. The trend of introduction of new ecological taxes plays an important role not only for producers and providers but also for households since it brings a few pitfalls in the form of significant price regulation. The effectiveness of energy taxation and its distributional, macroeconomic and social welfare effects will be assessed. The general equilibrium analysis follows to show the major...
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EU's Competition Policy v. USA's Antitrust : Antitrust in Payoff Matrix
Luňáčková, Petra ; Hrubý, Zdeněk (advisor) ; Gutiérrez Chvalkovská, Jana (referee)
EU's Competition Policy v. USA's Antitrust Antitrust in Payoff Matrix Abstract The thesis consists of two parts - comparative study and antitrust model. First part is dedicated to the comparison of European competition policy and American antitrust. It introduces both policies and focuses mostly on key differences between them, especially on the non-price vertical restraints and monopoly pricing. The economic theory is indecisive about the effects of vertical agreements on competition. The EU finds them often anticompetitive compared to the U.S. that believes in their procompetitive or neutral impact. Second part presents an antitrust model which describes the process of protecting competition and suggests optimal behavior for both enforcement officials and firms. In the game theory framework the payoff matrixes show the difference discussed in the first part and offer theoretical solution. Optimal strategies are derived for American, European and neutral policies and compared afterwards. The case study concludes the thesis and gives a real example of the difference between antitrust and competition policy. Key words: antitrust, competition policy, vertical mergers, game theory, payoff matrix, Article 101 and 102 of the TFEU, Sherman Act
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Ekonomické dopady podpory výroby energie z fotovoltaických článků v České republice
Krška, Štěpán ; Hrubý, Zdeněk (advisor) ; Cahlík, Tomáš (referee)
v Abstract The bachelor's thesis focuses on the generation of energy from photovoltaic cells in the Czech Republic and calculation of costs resulting from a support of renewable energy sources. Second part, following a short introduction, contains a brief description of the energy market in the Czech Republic and definitions of renewable energy sources. Third part covers photovoltaic energy in general. It deals with its historical development, technology and potential in the Czech Republic. Fourth part concerns with a legislation and contains a basic overview of the energy legislation of the Czech Republic and the European Union. Fifth part elaborates on the potential of other renewable sources in the Czech Republic and based on expert studies outlines their possible future development. Sixth part comments on the situation of photovoltaics in other states and brings a view of the support of renewable sources in Germany, Spain and Italy. Seventh (analytical) part deals with an analysis and calculations of the costs of the support of individual renewable sources including photovoltaics, cogeneration and secondary resources. The thesis is ended with a conclusion summarising the main results of the work.
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Impact Assessment case study: EU ETS and investment decision-making of power generators
Chvalkovská, Jana ; Hrubý, Zdeněk (advisor) ; Mejstřík, Michal (referee)
This thesis is focused on the assessment of impacts of the regulatory uncertainty related to the EU Emission Trading System (EU ETS) on investment decision- making of power generators. The need for investments in new power generation capacities that would be capable to satisfy in the future the growing electricity demand is currently a discussed topic on the Czech as well as on the EU level. These investments are endangered by the uncertainty regarding the future development of the EU ETS regulatory framework, which is a major price driver of the tradable emission allowances. This thesis uses the real option model to analyze the impacts of potential future developments of the emission allowance prices on the investments into new power plants and identifies the regulatory uncertainty as one of the major causes, why investors postpone the investment into the construction of new sources. The analysis is embedded into a broader framework depicturing the EU ETS and the impact assessment procedure conducted by the European Commission.
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