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Evolution of markups: The case of the Czech Republic
Jurišta, Jakub ; Bajgar, Matěj (advisor) ; Petřík, Theodor (referee)
This thesis aims to state the picture of markups in the Czech Republic. Most of the research has been done in the United States, and many remaining studies have been done globally. However, global studies do not have high-quality data to determine the actual trend in some countries. The main finding is that the mean markup increases over time, where the main drivers of it are the upper percentile firms, which see a significant increase in their markups. Therefore, most firms see no increase in their markups. The trend is also claimed to be within all industries, not between them. We use high-quality data which covers all firms in the Czech Republic. Using the production approach, we estimate markups for 55 869 firms from 74 industries from 2012 to 2020. The goal is to show markups on three different levels and to see if the defined trend corresponds to the Czech one. This thesis is one of the first studies using high-quality data outside the United States, and to have an overview of an actual markup trend in Europe, more studies like this should be done in other countries. JEL Classification D21, D23, L10, L11, L22 Keywords markups, production approach, competition, market power Title Evolution of markups: The case of the Czech Republic Author's e-mail jakub.jurista@gmail.com Supervisor's e-mail...
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Measuring Market Power: The Czech Market of Mobile Operators
Kolomazníková, Barbora ; Koubek, Ivo (advisor) ; Hayat, Arshad (referee)
The main focus of the thesis is the measurement of market power. Since market power is a determinant of the degree of competition, its measurement is the key feature of competition policy. We present various methods for assessing market power. One of the most famous ones are Lerner index and Herfindahl-Hirschman index, both of which belong to SCP paradigm. Another group of measures are the NEIO models, which provide the empirical analysis of relevant markets. For the estimation of market power, we have chosen the czech market of mobile oper- ators. We examine the three largest operators (i.e. O2, T-Mobile and Vodafone) in the period 2000-2013. Firstly, the model of Röller and Parker (1997) is used to identify the market's structure. Secondly, we employ the Appelbaum's (1982) industry-level measure to estimate market power. Keywords: market power, market structure, Lerner index, competition, industrial orga- nization, mobile operator, telecommunications Supervisor's e-mail address: koubek@fsv.cuni.cz Author's e-mail address: barbora.kolomaznikova@centrum.cz 1
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Consequences of liberalization of electricity market
Kalabiška, Roman ; Polák, Petr (advisor) ; Valíčková, Petra (referee)
This thesis examines the impacts of liberalization of electricity market. The first part of this work provides theoretical overview of the liberalization process and electricity market design in Czech Republic. To understand how the european wholesale markets are integrated, I have performed correlation analysis of daily spot prices on selected power exchanges. On the basic of this analysis I confirmed that selected power exchanges are on different levels of integration and have higher dependency on regional level. The second part of the empirical part is focused on the impact of competition on czech retail market. The objective was to show that liberalization and following increase of competition in electricity market result into decrease of retailers' gross profit margins in the segment of housholds with ordinary consumption. The last part of this work is focused on the measurement of market power using the most famous methods of measuring market power, such as Lerner index and Herfindahl-Hirschman index. My calculations indicate that while market concentration has decreased in the long run, since 2012 it is slightly increasing. I have also learned that selected retailers are on similar level of market power. This work fills the gap in literature focusing on the issue of measuring market power...
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Vliv politiky ochrany hospodářské soutěže na chování firmy v podmínkách ČR
Desenský, Marek
Influence the policy of protection of competition in the behaviour of companies in the Czech Republic is the theme of processed bachelor thesis. It deals with economic theory approach to competition at the various types of market structures, on which there is an abuse of competition, followed by protection of competition, referring to legislative action. On specific cases illustrates the Office for the Protection of Competition in its decisions.
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Formování a vývoj cen pšenice potravinářské na příkladu České republiky
Dvořáková, Denisa
The thesis contains an evaluation of the situation and development of two commodity verticals with the following final products: wheat flour and wheat white bread baked goods. In the thesis there are identified factors influencing prices levels of the commodity verticals. I have made the price transmission too. By the average elasticity coefficients calculating (EPT) there was analyzed the price transmission at the verticals commodity. This analysis confirmed the functioning of the demand-oriented model, in which the subsequent links of the chain influence the prior ones. Furthermore, it was found that at the both levels of commodity verticals it leads to the significantly higher price transmission in the case of inflation than to decrease. The determination coefficients of commodity verticals confirmed slight time delay at the first and second stage of these verticals.
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Application of competition law on the markets with multisided platforms
Mikeš, Stanislav ; Černá, Stanislava (advisor) ; Horáček, Tomáš (referee)
1 Application of competition law on the markets with multisided platforms Abstract This rigorous thesis deals with a phenomenon of multisided platforms from the competition law perspective with a special focus on online multisided platforms. A notion of multisided platforms is explained in the thesis as well as its implications for the competition law. It is then examined how a market structure of a multisided platform influences a process of delimitation of a relevant market and assessment of a market power as two basic pillars of every competition law analysis. Theoretical findings are then confronted with a selected decision-making practice of EU and national competition authorities dealing with the phenomenon of multisided platforms. The thesis is structured into four main chapters. Chapter One contains a brief introduction into the subject-matter and sets out goals of this thesis which are to present the phenomenon of multisided platforms, explore its specifics and show how the methods of competition law analysis needs to be adapted in other to correctly assess all the specifics of the multisided platforms. Chapter Two presents various definitions of multisided platforms in academic literature. Potential categories of multisided platforms are presented in this chapter. The notion of multisided...
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Consequences of liberalization of electricity market
Kalabiška, Roman ; Polák, Petr (advisor) ; Valíčková, Petra (referee)
This thesis examines the impacts of liberalization of electricity market. The first part of this work provides theoretical overview of the liberalization process and electricity market design in Czech Republic. To understand how the european wholesale markets are integrated, I have performed correlation analysis of daily spot prices on selected power exchanges. On the basic of this analysis I confirmed that selected power exchanges are on different levels of integration and have higher dependency on regional level. The second part of the empirical part is focused on the impact of competition on czech retail market. The objective was to show that liberalization and following increase of competition in electricity market result into decrease of retailers' gross profit margins in the segment of housholds with ordinary consumption. The last part of this work is focused on the measurement of market power using the most famous methods of measuring market power, such as Lerner index and Herfindahl-Hirschman index. My calculations indicate that while market concentration has decreased in the long run, since 2012 it is slightly increasing. I have also learned that selected retailers are on similar level of market power. This work fills the gap in literature focusing on the issue of measuring market power...
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Measuring Market Power: The Czech Market of Mobile Operators
Kolomazníková, Barbora ; Koubek, Ivo (advisor) ; Hayat, Arshad (referee)
The main focus of the thesis is the measurement of market power. Since market power is a determinant of the degree of competition, its measurement is the key feature of competition policy. We present various methods for assessing market power. One of the most famous ones are Lerner index and Herfindahl-Hirschman index, both of which belong to SCP paradigm. Another group of measures are the NEIO models, which provide the empirical analysis of relevant markets. For the estimation of market power, we have chosen the czech market of mobile oper- ators. We examine the three largest operators (i.e. O2, T-Mobile and Vodafone) in the period 2000-2013. Firstly, the model of Röller and Parker (1997) is used to identify the market's structure. Secondly, we employ the Appelbaum's (1982) industry-level measure to estimate market power. Keywords: market power, market structure, Lerner index, competition, industrial orga- nization, mobile operator, telecommunications Supervisor's e-mail address: koubek@fsv.cuni.cz Author's e-mail address: barbora.kolomaznikova@centrum.cz 1
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Oligopolistic Competition among companies in the Czech Economy
Pilousová, Markéta ; Šrédl, Karel (advisor) ; Hana, Hana (referee)
This diploma thesis is about oligopolistic competition of major retail chain operating on czech market in the food retail sector. Except mathematical prediction of the current retailers revenue-per-square meter growth, this work also mentions companies that decided to leave the Czech market for various reasons, like bad profits and wrongly determined business goals, change of strategy, etc. Main focus of this paper is the development of the retail sales market and examining if there is forming or already is, an oligopol with a dominant company. The market development is analysed based on freely available sources (published profits and annual reports). Total revenues of each retail chains are compared with details about disponible sales area and are displayed in graphs for better image; in the notes there are also details about individual acquisitions. Based on this development, the possible future development of revenue-per-square meter of sales area is mathematically derived.
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The Importance and Impact of the Antimonopoly Office in the Czech Republic
Šťastná, Aneta ; Svoboda, Roman (advisor) ; Kopecká, Lenka (referee)
The aim of this thesis is to describe the functions of the Office for the Protection of Competition and to verify its practical effectiveness on the basis of statistical data relating to the solves cases, mainly from 2009-2014. The theoretical part describes the history of the competition, defines the terms >>relevant market<< and >>competitor,<< briefly describes theoretically individual competition distortions, briefly describes the Office for the Protection of Competition and the legislation that applies to the issue. Specific illustrative cases of the activity of the office in the field of prohibited agreements, abuse of dominance and mergers of competition are gradually analyzed.
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