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Is trust in economy neglected unjustly?
Lipták, Michal ; Janotík, Tomáš (advisor) ; Cahlík, Tomáš (referee)
This thesis is seeking theoretical background as well as statistical evidence of links between classical and institutional economy by connecting their typical phenomena, specifically the notion of trust from the theory of transaction costs and the notion of return velocity of money from the quantity theory of money. It proves, that trust in the mainstream economy actually is omitted unjustly, for there is a strong statistical correlation between trust and real, as well as nominal, outcome. This conclusion is notable despite that there was not found any definite empirical evidence that this correlation is caused by effect of trust on return velocity of money. Furthermore, the thesis is attempting to find determinants affecting the level of trust like ethnic and religious disunity of the nation, but attempts to find their effect have failed. Keywords: trust, institutional economy, classical economy, return velocity of money, tribes
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Vliv struktury sourozenců na dětskou práci a školní docházku
Korbel, Václav ; Chytilová, Julie (advisor) ; Janotík, Tomáš (referee)
In scholarly literature the impact of sibling structure is commonly examined in connection with child health and school attendance. The aim of my bach- elor thesis is to determine what influence has the particular sibling structure on child labor, which is not studied so often, and the school attendance re- lated to the subject. The first part dwells on models of resource allocation within household and description of basic mechanisms regarding the method in which the structure of siblings influences resource allocation within house- hold. Main emphasis is laid on theoretical model with household production. Hypothesis about effect of sibling structure is then empirically tested using data from two African countries - Sierra Leone and Niger. Based on this analysis, it is possible to conclude that particular structure of siblings do not have fundamental influence on recourse allocation within household. Last but not least, reasons of differences between chosen countries are discussed in the conclusion.
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Post-Petition Financing in Corporate Insolvency Proceedings
Koudelka, Martin ; Richter, Tomáš (advisor) ; Janotík, Tomáš (referee)
The thesis examines the topic of debtor-in-possession financing, also called post-petition financing, in insolvency law. After a brief characteristic of law and economics methodology, ground theoretical requirements for legal rules of debtor-in-possession financing, as a mean of loan financing of businesses of a debtor in bankruptcy, are formulated in the first place. Next, the Czech Law of post-petition financing, above all regulated under the no. 182/2006 Coll., Insolvency Act, as amended, is analysed, considering its economic effectiveness in respect to transaction costs from the point of view of the subjects. Next part of the thesis focuses on comparison between the Czech Law of debtor-in-possession financing and the same law in the United States of America, where the post-petition financing is regulated under the Title 11 of the Code of Laws of the United States of America. Implications are made from the American Law for the possible future progress of the Law in the Czech Republic. In the end, a possible linear model for testing of expediency of accepting debtor-in-possession financing for the pre-petition creditors of the bankrupt debtor is designed.
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Genuine progress indicator and other alternative measures of economic development: First estimates for the Czech Republic
Král, Michal ; Janský, Petr (advisor) ; Janotík, Tomáš (referee)
Nowadys when measuring economic development, the main focus is on gross domestic product, which is a measure of market activity. Genuine progress indicator is an alternative measure of economic development, which shifts focus to well-being, environment and sustainability. The main goal of this study is to construct genuine progress indicator for the Czech Republic. In the first part I point out weaknesses of current measurement of economic progress. Then I address other indicators proposed as an alternative measure of economic development. After that I discuss genuine progress indicator in detail and explain its calculation for the Czech Republic. In the last part I discuss results of my computations and compare it with gross domestic product and with foreign calculations of genuine progress indicator. Keywords Genuine progress indicator, measure of well-being, economic development, alternative economic indicator, gross domestic product Author's e-mail 1michal.kral1@seznam.cz Supervisor's e-mail jansky@fsv.cuni.cz
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Ideas of hedonism and stoicism implemented in today's world of economy
Djikanovic, Ivana ; Janotík, Tomáš (advisor) ; Eckertová, Eva (referee)
The main motivation for this work was to show that economy cannot be explained just by economy. Many other sciences are essential for understanding economic processes and models of behavior. This paper presents the proven relations between the philosophy, economics and psychology. The study of different economic concepts requires development of an extensive network of connections between humans on the one side, and their social needs and behavior on the other side. The starting point is the return in the time of Ancient Greeks, with whose theoretical approaches can be explained the majority of person's actions. This paper uses theoretical analyses to assess the impact of the "passions and interests", hedonic happiness and stoic self-interest on the economic policy and individuals. Through the gently presented forms of hedonism, this work deals with different theories such as theory of modern consumerism, marginal utilitarianism, preference theory, theory of rational allocation. The data gathered in the form of publication analysis, little psychological experiments and real life examples serve to test the hypothesis of the direct relationship between hedonistic impacts on economic theory. The two research questions are dealing with mastery of passions and interest in the economic behavior as well as with the...
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The Introduction of Trusts in the Czech Republic
Jelínek, Tomáš ; Teplý, Petr (advisor) ; Janotík, Tomáš (referee)
Complete recodification of the Czech Civil Code among other changes establishes trusts, a very flexible tool which can be used by both natural and legal persons. Countless possibilities for the utilisation of trusts range from charities through intergenerational transfers of property or pension securitisation to the managing of a corporation and investment activities. The core of this paper is an analysis of three basic elements of trusts: the description of trusts, monitoring and analysing of the contemporary development, and perception of trusts by Czechs. The thesis contains detailed description of rights and duties of the settlor, the trustee and the beneficiary, also compares the Czech and foreign processing and then points out some differences and offers various recommendations. A fully processed questionnaire survey and analysis of the collected data is an integral part of this work. Low literacy about trusts has been discovered and its impact has been assessed. The survey results demonstrate the necessity of establishment of competitive conditions together with fighting negative perceptions towards trusts. The investigation further revealed important as well as unimportant features of trusts to potential settlors. These findings could be significant for the future development in this area....
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Price Elasticity of Water Demand: A Meta-Analysis
Thoma, Richard ; Havránek, Tomáš (advisor) ; Janotík, Tomáš (referee)
Meta-analysis is a statistical method that allows us to combine results of em- pirical research. A theoretical summary helped to select appropriate model for the empirical part of this thesis - a meta-analysis focused on the price elas- ticity of residential water demand. A mixed-effects multilevel model, which corrects for selection bias, heteroskedasticity and within-study correlation, was employed. Publication bias was found only for subsample excluding data from the western part of the United States. Heckman meta-regression shows that the true price elasticity of water demand is -0,246. Finally variation in results across studies is explained. Using average price instead of margi- nal, the discrete-continuous choice model and data from the western part of the United States for water demand modelling will result in higher values of estimated elasticity. 1
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Economic Aspects of Blood Donation
Hanus, Luboš ; Janotík, Tomáš (advisor) ; Kukačka, Jiří (referee)
Sufficient blood supply is a continuous problem for health care systems around the world. The diversity of systems is also manifested as different methods of compensation and motivation of donors. During the last century the different types of compensation and motivation have brought about various high probabilities of transmission of infectious diseases. The goal of this thesis is to provide a sufficient description of donors' motivations in the Czech Republic and elsewhere. The first part aims to compare the risk of financially compensated blood donors and those who are not compensated. The second part gives a description of characteristics of the sample donors from the Institute of Hematology and Blood Transfusion in Prague. A probit model is used to analyse the sensitivity of donors to two benefits provided by the state, these benefits are either a paid working day-off on the day of donation or the possibility of deduction of 2000 CZK from one's taxable income for each donation.
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