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Pre-action disclosure of information and evidence
Šindler, Matěj ; Holčapek, Tomáš (advisor) ; Dvořák, Bohumil (referee)
Pre-action disclosure of information and evidence Information asymmetry or information deficit is a phenomenon where a party to civil litigation is objectively unable to carry its burden of allegation or proof because the relevant information and evidence is completely beyond its reach and there is no way the party could have obtained it through its own activity. In such cases, there is a risk that, due to the party's information deficit, the party will not be able to seek effective judicial protection and will not be able to effectively enforce its subjective rights. Such a situation has negative consequences both for the affected party and for society as a whole, since the consistent exercise of subjective rights also provides protection to objective rights. For this reason, it is essential to address the problem of the information deficit, preferably even before litigation is initiated. The topic of overcoming the information deficit is becoming increasingly relevant, as increasingly complex legal relations between private law subjects entail more complex disputes over the law, which are often accompanied by information asymmetry between the parties to the dispute. This master's thesis explores the basis for overcoming the information deficit and the specific measures used to address this...
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Factors affecting the price of a used car in Czechia
Dvořáček, Petr ; Polák, Petr (advisor) ; Šťastná, Lenka (referee)
The market of used cars in Czechia, generating an annual turnover over one hundred billion Czech crowns, is visited by hundreds of thousands of people a year and a similar number of used vehicles are sold there. This work tries to find and appropriately evaluate the main determinants that set the price of a used car in Czechia, and thus, among other things, increase buyers' awareness. Multiple linear regression (MLR) and the ordinary least squares (OLS) method were used to estimate coefficients indicating the effect of a given variable on the price. This study uses a unique dataset, which was obtained from the Czech online marketplace advertising used cars Sauto.cz, containing all available information about more than 55 thousand used cars from 34 different car manufacturers. According to the assumptions, the importance and negative effect of variables indicating the number of kilometers driven and the age on the price of the used car was confirmed. Other important parameters that, on the other hand, have a positive influence on the price of a used car are the elements of additional equipment. Higher price of used cars from German manufacturers compared to competing manufacturers was also confirmed and, conversely, cars from carmakers from America or Asia were found cheaper. As a huge number of...
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Prison privatization in England and Wales
Borůvková, Tereza ; Weiss, Tomáš (advisor) ; Váška, Jan (referee)
The diploma thesis deals with the process of prison privatization in the United Kingdom particularly in England and Wales especially in the form of PFI deals, in which the private sector not only manages prison facility but also designs and constructs the buildings. Due to transfer of this kind of service we can look at the relationship between state and private provider trough the lenses of Principal-agent theory. This theory, in its purest form, is constituted of one principal and one agent to whom the performance of the service is transferred, part of the risks associated with it and also a certain decision-making power are transferred as well. According to the theory, the basic precondition for the relationship between the principal and the agent is a discrepancy in the goals of the actors and the agent's effort to act opportunistically at the expense of the performance of the service for the principal. In this sense, the thesis examines the decision from 2018 not to launch new PFI or its successor PF2 projects. In this scenario, England and Wales are the principal and the prison operators are the agents. The hypothesis of the thesis is that this decision not to launch new PFI projects is related to problematic aspects of the relationship between the principal and the agent and that the control...
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Credit Risk of P2P Lending on the Czech Market
Čermáková, Jolana ; Dědek, Oldřich (advisor) ; Čech, František (referee)
This thesis analyzes an emerging peer-to-peer lending industry, while intro- ducing its main features and risks, where the risk of default and its moder- ation gets the most attention. Uniquely provided data from the front Czech platform Zonky containing nearly 6 000 observations serve as a baseline for credit risk modeling. It has been investigated which variables have the largest effect on default on the Czech P2P market. The final model is used to predict the associated probability of default and to compute the credit score for potential borrowers using these online platforms. Results support the fact that education, age, way of living, expenses, marital and employment status, income and the number of children are significant variables when determining the risk of default. Many of these findings are in accordance with previous international papers published on this topic.
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Information asymmetry in economics
Kolar, Jan
The subject of the article is the concept of information asymmetry, which currently belongs among highly discussed themes in economics. In the article, we deal with the basic concepts, which play an important role in the overall perspective on the given issue. One of them is moral hazard, which is a fundamental consequence of information asymmetry. The market subjects or individual people often misuse their superior informational capabilities for their own use, but at the same time they inadvertently contribute to the inefficiency of the specific market, which can lead to extensive market failure. Other important consequences include so-called adverse selection, which results in the gradual displacement of good products by inferior ones. The occurrence of adverse selection in the specific market then results in pressure to reduce prices. In particular, the article analyses the current state of knowledge in the area of information economics, on the basis of previously published articles. We also deal with the effect of modern technology on the economic mechanism and information asymmetry. One of them is the internet, which plays a key role in the transmission of information. The aim of the article is to perform an analysis of the current state of knowledge in the area of information asymmetry on the basis of relevant published articles, and thus create a comprehensive and compact perspective on the given issue. An important section is the analysis of the possible impact of modern technology on information asymmetry, where own conclusions are drawn on the basis of findings by various authors.
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Observing the Unobservable: Education and Signaling in Middle-Income Countries
Kashkarov, Daniil ; Špecián, Petr (advisor) ; Chytilová, Helena (referee)
The thesis examines the role of education signaling in dealing with information asymmetry on labor markets of lower-middle-income countries. The original hypothesis states that signaling component of education has significant effect on hiring decisions and wages in this group of states. To test the hypothesis, the model of employer learning is launched on individual cross-section data for four lower-middle-income countries: Armenia, Bolivia, Ghana and Vietnam. The natural logarithms of hourly wages are regressed on years of education, experience, measures of employees' aptitude, education-experience and aptitude-experience interaction terms. Maximum of parents' education, self-reported cognitive skills score and job-related skills score are used as proxies for workers' ability. No reliable evidence of education signaling being applied on labor markets of the studied countries was found, although information asymmetry is present.
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The Development of health policy approach to homeopathy in the early 21st century
Rabová, Lenka ; Háva, Petr (advisor) ; Bodnár, Jan (referee)
Lenka Rabová, Vývoj přístupu zdravotní politiky k homeopatii na počátku 21. století Abstract The research theme of this thesis is the trend of raising disbelief of patients in Czech Republic in scientific medicine. The goal of the thesis is to reflect evolution of the homeopathy status in CZ from 1989 to present and to find causes and factors, for which patients prefers treatment by homeopathy, instead of scientific medicine. For the research, methods of (1) critical discourse analysis (CDA) (2) institutional analysis and (3) semi structured interview. The result: Homeopathy was tolerated between years of 1991-1996 by ČLS JEP. Worldwide studies of homeopathy gradually led to the summary of the assessment findings to the inefficiency of homeopathy. In the last five to ten years we can see strong critical and professional discourse on the national (CLS JEP, CLK Sysifos) and international (HNMRC, FDA) levels, which strongly aims against homeopathy. Homeopathy is being used by the patients because of lack of trust in scientific medicine, which is caused by commercializing of the scientific medicine, dissatisfaction of doctor's attitude, dissatisfaction of the methods and practices of scientific medicine, its results and absence of the holistic treatment. Part of the doctors also holds the critical attitude of...
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Activities of NGOs in the Care of Patients Diagnosed with Breast Cancer
Pecháčková, Tereza ; Křížová, Eva (advisor) ; Pospíšilová, Tereza (referee)
This dissertation is focused on medical care field, introduces common issues of oncology illnesses. Presents the system and particularity of women's breast cancer care and looks into patient's rights and importace of foreknowledge. Also presents activities of non-state nonprofit organization focused on this sphere. The aim of this dissertation is to map involved organizations and analysis of their work. Investigates foreknowledge of patients about knowing of them and also finds topics of their intersect. Key words oncology diagnosis, breast cancer, patients organizations, prevention, second opinion, health service, non-profit non-govermental organizations, information asymmetry, mammography screening, informační asymetrie, mamografický screening
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The Role of Rating Agencies in the Worldwide Crise
Kratochvíl, Jan ; Očko, Petr (advisor) ; Ivánek, Jiří (referee)
The thesis focuses on the role of rating agencies in the financial crisis. The aim of the thesis is to judge a rate how much rating agencies contributed to give rise to last financial crisis, began by fall of Lehman Brothers in 2008. A main question is whether rating agencies acted inadvertently or on purpose and which all factors contributed most to result in financial crisis and as well how the rating agencies could influence and cope with these factors. The thesis deals with regulation of rating agencies and their appropriateness too. Rating and its aspects in theoretical way are described in the first part of the work. The real situation of rating industry prior to and in financial crisis is described in the second practical part of the thesis.
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Three essays on Joseph Stiglitz, information asymmetry, and credit rationing
Pospíšil, Martin ; Mertlík, Pavel (advisor) ; Čech, Jan (referee)
This thesis contains three essays related to the work of economist Joseph Stiglitz. The first essay describes the contribution of Stiglitz to economic theory by analysing problems of information asymmetry, new Keynesian and institutional economics, rationality, and market theories. Shortcomings of neoclassical economics are described and possible solutions are outlined. The last part of this essay summarizes the main critique of Stiglitz's work. The second essay applies the topic of information asymmetry by discussing whether the current level of economic development leads to convergence or divergence in the technology and information levels. The conclusion is that even though globalisation affects the level of technology and information, we do not see convergence as predicted by several theoretical models and information asymmetry remains an important element in the economy. The last essay links the Stiglitz-Greenwald theory of credit rationing using recent Czech data from years 2007-2009. Data confirm that credit rationing increases, information asymmetry increases, and the transmission mechanism does not function well during economic decline. I conclude that Czech banks increase their screening of clients and consequently credit rationing in the times uncertainty leading to ambiguous development...
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