Charles University

Displaying 1-40 of 105 results

  • White Papers // Apr 2014

    Integrated Data Acquisition, Storage, Retrieval and Processing Using the COMPASS DataBase (CDB)

    The system, called CDB (Compass DataBase), integrates different data sources as an assortment of data acquisition hardware and software from different vendors is used. Based on widely available open source technologies wherever possible, CDB is vendor and platform independent and it can be easily scaled and distributed. The data is...

    Provided By Charles University

  • White Papers // Oct 2013

    Fully Bideniable Public-Key Encryption

    Bideniable encryption allows both sender and receiver in a public-key setting to simultaneously claim that a different message of their choice was transmitted, and support this claim by a good-looking encryption and key-generation randomness, respectively. A weaker version with two variants of algorithms is called flexible or multi-distributional deniability, a...

    Provided By Charles University

  • White Papers // Oct 2012

    On Online Labeling with Polynomially Many Labels

    In the online labeling problem with parameters n and m the authors are presented with a sequence of n keys from a totally ordered universe U and must assign each arriving key a label from the label set {1, 2,...,m} so that the order of labels (strictly) respects the ordering...

    Provided By Charles University

  • White Papers // Jun 2012

    Linked Data Aggregation Algorithm: Increasing Completeness and Consistency of Data

    The advent of linked data accelerates the evolution of the web into an exponentially growing information space, bringing the information consumers unrestricted access to the data and enabling an agile information aggregation, which has up to now not been possible. Such information aggregation comes with inherent problems, such as provision...

    Provided By Charles University

  • White Papers // Jan 2012

    Software for Small-to- Medium Enterprises

    Small-to-Medium Enterprises (SME) have specific requirements on the SoftWare Systems (SWS) they use. SME have a limited possibility to design stable business processes as they have limited resources and data to design the processes properly. Moreover, SME must be able to adapt itself dynamically to changing business conditions and must,...

    Provided By Charles University

  • White Papers // Jul 2011

    Who Borrows And Who May Not Repay?

    The authors use Household Budget Survey data to analyze the evolution of the household credit market in the Czech Republic over the period 2000-2008. They next merge their data with the Statistics on Income and Living Conditions in 2005-2008, in order to test the validity of the standard debt burden...

    Provided By Charles University

  • White Papers // Jun 2011

    Rational Inattention To Discrete Choices: A New Foundation For The Multinomial Logit Model

    Often, individuals must choose among discrete alternatives with imperfect information about their values, such as selecting a job candidate, a vehicle or a university. Before choosing, they may have an opportunity to study the options, but doing so is costly. This costly information acquisition creates new choices such as the...

    Provided By Charles University

  • White Papers // Jun 2011

    Discrete Actions In Information-Constrained Tracking Problems

    Optimal actions of an agent facing a Shannon capacity constraint on the translation of an uncertain signal into an action can easily turn out to be discretely distributed, even when the objective function and the initial distribution of uncertainty contain no discrete elements. The authors show this result analytically in...

    Provided By Charles University

  • White Papers // May 2011

    A Note On Equilibrium Uniqueness In The Baron-Ferejohn Model

    The Baron-Ferejohn multilateral bargaining model predicts a payoff-unique Stationary Subgame Perfect Equilibrium (SSPE) in which players' equilibrium strategies are not uniquely determined. In this paper, the authors present a modified version of the Baron-Ferejohn model by introducing veto players and provide a sufficient condition to obtain a truly unique SSPE...

    Provided By Charles University

  • White Papers // Apr 2011

    The Role Of Investment Incentives In Regional FDI Reallocation: A Regression-discontinuity Approach

    This paper analyzes the causal effect of investment incentives on regional allocation of Foreign Direct Investment (FDI) in the Czech Republic during 2001-2007. Investment incentives institutional setup provided foreign investors with financial incentives depending on the particular district unemployment rate. The identification strategy is based on a regression-discontinuity approach as...

    Provided By Charles University

  • White Papers // Apr 2011

    Estimating The Volatility Of Electricity Prices: The Case Of The England And Wales Wholesale Electricity Market

    Price fluctuations that partially comove with demand are a specific feature inherent to liberalized electricity markets. The regulatory authority in Great Britain, however, believed that sometimes electricity prices were significantly higher than what was expected and, therefore, introduced price-cap regulation and divestment series. In this paper, the author analyzes how...

    Provided By Charles University

  • White Papers // Apr 2011

    Structural Versus Behavioral Remedies In The Deregulation Of Electricity Markets: An Experimental Investigation Guided By Theory And Policy Concerns

    The authors try to better understand the comparative advantages of structural and behavioral remedies of deregulation in electricity markets, an eminent policy issue for which the experimental evidence is scant and problematic. Specifically, they investigate theoretically and experimentally the effects on competition of introducing a forward market - considered a...

    Provided By Charles University

  • White Papers // Apr 2011

    Credit Rationing And Public Support Of Commercial Credit

    Credit contracting between a lender with monopoly market power and a small start-up entrepreneur may lead to the rejection of projects whose expected benefits are higher than their total costs. This inefficiency may be eliminated by government support in the form of credit guarantees or interest rate subsidies. This paper...

    Provided By Charles University

  • White Papers // Mar 2011

    Intellectual Property Rights Protection And Enforcement In A Software Duopoly

    The authors study the economic impacts of the interaction between a regulator's Intellectual Property Rights (IPR) protection policy against software piracy on the one side and the forms of IPR protection that software producers may themselves undertake to protect their intellectual property on the other side. Two developers, each offering...

    Provided By Charles University

  • White Papers // Mar 2011

    The Identification Of Price Jumps

    The authors performed an extensive simulation study to compare the relative performance of many price-jump indicators with respect to false positive and false negative probabilities. They simulated twenty different time series specifications with different intraday noise volatility patterns and price-jump specifications. The double McNemar (1947) non-parametric test has been applied...

    Provided By Charles University

  • White Papers // Feb 2011

    Consumer Reactions To Unobserved Changes In Price Schedules

    Economic theory presumes that individuals respond to true marginal prices when deciding on the amount of goods and services they buy and many other economic decisions. However, learning about these marginal prices is often costly in terms of search time, cognitive effort or monetary outlays. This is likely to be...

    Provided By Charles University

  • White Papers // Jan 2011

    The Telecommunications Industry And Economic Growth: How The Market Structure Matters

    This paper presents an endogenous growth model where, in line with the recent empirical evidence, the telecommunications industry (telecom) is an engine of growth. In such a framework, this paper analyzes the channels through which telecom contributes to economic growth and focuses on market structure analysis for telecom, in the...

    Provided By Charles University

  • White Papers // Jan 2011

    Monetary Policy Rules And Financial Stress: Does Financial Instability Matter For Monetary

    The authors examine whether and how main central banks responded to episodes of financial stress over the last three decades. They employ a new methodology for monetary policy rules estimation, which allows for time-varying response coefficients as well as corrects for endogeneity. This flexible framework applied to the U.S., U.K.,...

    Provided By Charles University

  • White Papers // Jan 2011

    Generational Accounting In European Health Care Systems

    Growing shares of health care sectors in national income in the OECD countries have been observed for decades. Rising demand for health care coupled with medical advances may generate a significant burden on public finance in the ageing Europe in the coming years. The authors explore European public health care...

    Provided By Charles University

  • White Papers // Jan 2011

    Rent Deregulation, Tenure Choice, And Real Estate Price Expectations

    The authors study a natural experiment in the Czech Republic where the maximum regulated rent appreciation has depended explicitly on the price of real estate since 2007. They track the tenure choice of households from consumption surveys for subsequent years. Rent deregulation makes households in regulated apartments more likely to...

    Provided By Charles University

  • White Papers // Jan 2011

    How Are Inflation Targets Set?

    This paper aims to contribute to a better understanding on how inflation targets are set. For this reason, the authors first gather evidence from official central bank and government publications and from a questionnaire sent to central banks on how inflation targets are set; they then estimate the determinants of...

    Provided By Charles University

  • White Papers // Jan 2011

    The Golden Rule Of Public Finance And The Productivity Of Public Capital

    This paper concentrates on the golden rule of public finance. It reviews the main advantages and disadvantages of the potential implementation of this rule in the European Union. Often the question of the productivity of public capital is at the heart of the rule's discussions. As this issue has mostly...

    Provided By Charles University

  • White Papers // Dec 2010

    Corruption, Voting And Employment Status: Evidence From Russian Parliamentary Elections

    This paper examines to what extent the distribution of votes and voting behavior of people with different employment status are affected by regional differences in corruption. Using data from the Russian Parliamentary (State Duma) Elections 1999 and 2003, the author develops and estimates a SUR system of equations which takes...

    Provided By Charles University

  • White Papers // Dec 2010

    Second-Best Trade Policies, R&D Spillovers And Government (In)Ability To Precommit In An Intra-Industry Trade Framework

    The authors introduce an intra-industry setup in order to reconsider the consequences of government (in)ability to precommit to its policies when it is constrained to only one policy instrument (second-best policies). This setup nests the standard frameworks of strategic trade policy - the "Third-market" and the "Home-market" framework. They also...

    Provided By Charles University

  • White Papers // Nov 2010

    How Does Monetary Policy Respond To Financial Stress?

    The authors examine whether and how main central banks responded to episodes of financial stress over the last three decades. They employ a new methodology for monetary policy rules estimation, which allows for time-varying response coefficients as well as corrects for endogeneity. This flexible framework applied to the U.S., U.K.,...

    Provided By Charles University

  • White Papers // Nov 2010

    Access To Capital And Capital Structure Of The Firm

    The paper examines the importance of financial constraints for firm capital structure decisions in transitions economies during 1996-2006 using endogenous switching regression with unknown sample separation approach. The evidence suggests that differences in financing constraints have a significant effect on a firm's capital structure. Constrained and unconstrained firms differ in...

    Provided By Charles University

  • White Papers // Oct 2010

    Can Religion Insure Against Aggregate Shocks To Happiness? The Case Of Transition Countries

    This paper focuses on the effects of reforms and happiness in transition economies. Previous literature suggests that religiousness insures happiness against individual stressful life events, such as unemployment, disability, or marital separation. The author estimates an econometric model to study if religion also insures against aggregate shocks to happiness, such...

    Provided By Charles University

  • White Papers // Oct 2010

    Don't Drink And. Avoid Risky Sex Of Your Peers: The Influence Of Alcohol Consumption Of Opposite-Gender Peers On Youth Risky Sexual Behavior

    The author estimates the effect of opposite-gender peer drinking on individual risky sexual behavior among Czech youth. The identification strategy relies on two main controls for individual and group-specific unobservables. First, younger schoolmates' sexual behavior is a control for school-specific attitudes toward sexual behavior. Second, pre-determined individual pre-secondary-school alcohol consumption...

    Provided By Charles University

  • White Papers // Oct 2010

    Measuring Skill Intensity Of Occupations With Imperfect Substitutability Across Skill Types

    In absence of a model-based measure of occupational skill-intensity, the literature on wage inequality cannot consistently track technological progress on occupational level - a key ingredient of recent theories of labor market polarization. In this paper, the author uses the March CPS data from 1983 to 2002 to estimate such...

    Provided By Charles University

  • White Papers // Oct 2010

    Growth Of Electoral Fraud In Non-Democracies: The Role Of Uncertainty

    Electoral fraud has become an integral part of electoral competition both in established democracies and less-than-democratic regimes. In this paper, the author studies electoral fraud in the non-democratic setting. First, the author presents evidence of fraud sustainability and growth over the lifetime of non-democratic regimes in post-Soviet and Sub-Saharan countries....

    Provided By Charles University

  • White Papers // Oct 2010

    Fairness In Risky Environments: Theory And Evidence

    Theories of fairness have typically used the assumption of ex-ante known pie size. Pie size, however, is rarely known ex ante. Using three simple allocation problems generally known as dictator, ultimatum and trust games, the authors explore the influence of ex-ante unknown pie size of varying degrees of risk on...

    Provided By Charles University

  • White Papers // Oct 2010

    Deregulation, Economic Growth And Growth Acceleration

    The paper analyzes the influence of credit-, labor-, and product market deregulation policies on economic growth in more than 70 economies over a period of 30 years. It addresses both the issues of reform measurement and its endogeneity. Specifically, by combining a difference-in-difference strategy with an IV approach to the...

    Provided By Charles University

  • White Papers // Oct 2010

    Macroeconomics Of Microfinance: How Do The Channels Work?

    Recent changes in the microfinance landscape are characterized by increasing patterns of its integration with national financial systems and entry of commercial banks. Microfinance is no longer perceived as an isolated marginal sector of informal intermediation but rather constitutes particular lower-end segment of the broader financial system. Addressing the limited...

    Provided By Charles University

  • White Papers // Sep 2010

    The Effect Of Time In A Multi-Dimensional Marriage Market Model

    In the paper, the author develops a theoretical model of a marriage market that accounts for the effect of aging on agents' wealth and physical attractiveness. Furthermore, the author uses the model to analyze how the structure and more importantly the stability of the marriage market is affected by the...

    Provided By Charles University

  • White Papers // Sep 2010

    Analysis Of Electricity Industry Liberalization In Great Britain: How Did The Bidding Behavior Of Electricity Producers Change?

    Promoting competition among electricity producers is crucial for ensuring allocative efficiency and lower electricity prices. In this paper, the author empirically examines the electricity market of England and Wales in order to analyze to what extent the regulatory reforms were successful in promoting competition among electricity producers during 1995-2000. This...

    Provided By Charles University

  • White Papers // Sep 2010

    Overcoming Consumer Biases In The Choice Of Pricing Schemes: A Lab Experiment

    This paper uses experimental data to investigate possible biases in consumers' choice of pricing schemes when their demand is perfectly inelastic but uncertain. The author considers three-part pricing schemes (i.e. fixed fee, included units, extra-unit price). The analysis suggests a strong bias towards the pricing scheme with the number of...

    Provided By Charles University

  • White Papers // Sep 2010

    Were Stocks During The Financial Crisis More Jumpy: A Comparative Study

    This paper empirically analysis the price jump behavior of heavily traded US stocks during the recent financial crisis. Namely, the author tests the hypothesis that the recent financial turmoil caused no change in the price jump behavior. To accomplish this, the author employs data on realized trades for 16 stocks...

    Provided By Charles University

  • White Papers // Aug 2010

    A Family of Real-Time Java Benchmarks

    Java is becoming a viable platform for real-time computing. There are production and research real-time Java VMs, as well as applications in both military and civil sector. Technological advances and increased adoption of Real-time Java contrast significantly with the lack of benchmarks. Existing benchmarks are either synthetic micro-benchmarks, or proprietary,...

    Provided By Charles University

  • White Papers // Aug 2010

    Welfare Improving Coordination Of Fiscal And Monetary Policy

    Should independent monetary and fiscal policies coordinate their actions and/or targets? To examine this question the paper considers a simple reduced-form model in which monetary and fiscal policies are formally independent, but still interdependent - through their mutual spillovers. The analysis shows that the medium-run equilibrium levels of inflation, deficit,...

    Provided By Charles University

  • White Papers // Aug 2010

    Intergenerational Bargaining In Technology Adoption

    The author studies the choice of technology adoption in an environment where human capital is transmitted from the old to the young generation, but the young generation can opt out for a new technology. The adoption and matching decisions are made in a sequential intergenerational bargaining. Since technology adoption benefits...

    Provided By Charles University

  • White Papers // Sep 2010

    The Effect Of Time In A Multi-Dimensional Marriage Market Model

    In the paper, the author develops a theoretical model of a marriage market that accounts for the effect of aging on agents' wealth and physical attractiveness. Furthermore, the author uses the model to analyze how the structure and more importantly the stability of the marriage market is affected by the...

    Provided By Charles University

  • White Papers // Sep 2010

    Analysis Of Electricity Industry Liberalization In Great Britain: How Did The Bidding Behavior Of Electricity Producers Change?

    Promoting competition among electricity producers is crucial for ensuring allocative efficiency and lower electricity prices. In this paper, the author empirically examines the electricity market of England and Wales in order to analyze to what extent the regulatory reforms were successful in promoting competition among electricity producers during 1995-2000. This...

    Provided By Charles University

  • White Papers // Aug 2010

    Intergenerational Bargaining In Technology Adoption

    The author studies the choice of technology adoption in an environment where human capital is transmitted from the old to the young generation, but the young generation can opt out for a new technology. The adoption and matching decisions are made in a sequential intergenerational bargaining. Since technology adoption benefits...

    Provided By Charles University

  • White Papers // Aug 2010

    Oligopolistic Price Competition With Informed And Uninformed Buyers

    The standard price competition of two or more players leads to Bertrand equilibrium in basic economic theory (if complete information is assumed, there are no capacity constraints, etc.). In reality, even on highly competitive Internet-based markets, the prices of seemingly undifferentiated goods (e.g. books and CDs on Amazon and similar...

    Provided By Charles University

  • White Papers // Aug 2010

    Price Jumps In Visegrad Country Stock Markets: An Empirical Analysis

    The author empirically studies price jumps using high frequency data comprising 5-, 10-, 15- and 30-minute market data on the main indices from the Prague, Warsaw, Budapest and Frankfurt Stock Exchanges for June 2003 to the end of 2008. The author uses two definitions of price jumps: the price jump...

    Provided By Charles University

  • White Papers // Jul 2010

    Pricing Scheme Choice: How Process Affects Outcome

    Standard price discrimination theories are based on the assumption that consumers use their future demand estimates to evaluate net utility of each pricing scheme and choose the scheme with the highest value. However, some evidence suggests that consumers might not always behave this way. The experiment presented in this paper...

    Provided By Charles University

  • White Papers // Apr 2010

    Gender Unemployment Gaps: Evidence From The New EU Member States

    Using EU LFS data, the authors analyze gender unemployment gaps in eight new EU member states - the Czech Republic, Hungary, Slovakia, Poland, the three Baltic states and Slovenia - over the last decade. While there are substantial unemployment gaps in the four central European countries and, more recently, also...

    Provided By Charles University

  • White Papers // Feb 2010

    Rigid Pricing And Rationally Inattentive Consumer

    This paper proposes a mechanism leading to rigid pricing as an optimal strategy. It applies a framework of rational inattention to study the pricing strategies of a monopolistic seller facing a consumer with limited information capacity. The consumer needs to process information about prices, while the seller is perfectly attentive....

    Provided By Charles University

  • White Papers // Jan 2010

    Rationally Inattentive Seller: Sales And Discrete Pricing

    This paper presents a model of a rationally inattentive seller responding to shocks to unit input cost. The model generates price series simultaneously exhibiting all three of the following features that can be found in the data. Prices change frequently. Responses of prices to aggregate variables are delayed. And prices...

    Provided By Charles University

  • White Papers // Apr 2010

    College Degree Supply And Occupational Allocation Of Graduates The Case Of The Czech Republic

    Public funding drives much of the recent growth of college degree supply in Europe, but few indicators are available to assess its optimal level. In this paper, the author investigates an indicator of college skills usage - the fraction of college graduates employed in "College" occupations. Gottschalk and Hansen (2003)...

    Provided By Charles University

  • White Papers // Apr 2010

    Are Immigrants Paid Less For Education?

    This paper is on measuring the gap in returns to education between foreign-born and native workers in France, Germany, and Austria and investigates the extent to which this gap can be explained by a mis-match between the actual and the years of schooling typical for a given occupation. The return...

    Provided By Charles University

  • White Papers // Feb 2010

    Pollution Control In A Transition Economy: Do Firms Face Economies And/Or Diseconomies Of Scale?

    The authors empirically assess whether firms face economies and/or diseconomies of scale with respect to air pollution control by evaluating the effects of production on firmlevel air emission levels using a panel of Czech firms during the country's transitional period of 1993 to 1998. By estimating a separate set of...

    Provided By Charles University

  • White Papers // Jan 2010

    On The Hidden Costs Of Monitoring Corruption Or Effort

    In this paper, the author analyzes the effects of monitoring on an agent's incentives in a two-period principal-agent model in which the agent decides on his effort and corruptibility. The agent's type and strategy are unknown to the principal. The author compares incentive-compatible wages under three different scenarios: when the...

    Provided By Charles University

  • White Papers // Dec 2009

    Responses To More Severe Punishment In The Courtroom: Evidence From Truth-In-Sentencing Laws

    The authors investigate behavioral responses of judges and prosecutors to more severe punishments by analyzing the effects of Truth-In-Sentencing (TIS) laws in a large sample of individual criminal cases. The TIS laws raised effective punishment by requiring offenders to serve at least 85% of their imposed sentence in prison. Differences...

    Provided By Charles University

  • White Papers // Dec 2009

    Announced Regime Switch: Optimal Policy For Transition Period

    The novelty of this paper is the presentation of the theoretical framework that allows to model announced change of the monetary regime. The author analyzes behavior of small open economy that announced to adopt a monetary policy regime with focus on offsetting nominal exchange rate changes in given number of...

    Provided By Charles University

  • White Papers // Dec 2009

    Technological Leadership And Persistence Of Monopoly Under Endogenous Entry: Static Versus Dynamic Analysis

    The authors build a dynamic oligopoly model with endogenous entry in which a particular firm (leader) invests in an innovation process, facing the subsequent entry of other firms (followers). They identify conditions that make it optimal for the leader in the initial oligopoly situation to undertake pre-emptive R&D investment (strategic...

    Provided By Charles University

  • White Papers // Nov 2009

    Gatekeeping-Open Door To Effective Medical Care Utilisation?

    The authors assess the ability of health insurance plans with gatekeeping restrictions to control the utilization of medical care through their influence on the choice of the initial provider. Empirical results are based on the individual-level utilization panel data from 2001-2006 Medical Expenditure Panel Survey. They find only small differences...

    Provided By Charles University

  • White Papers // Nov 2009

    Learning In An Estimated Medium-Scale DSGE Model

    In this paper, the authors evaluate the empirical relevance of learning by private agents in an estimated medium - scale DSGE model. They replace the standard rational expectation assumption in the Smets and Wouters (2007) model by a constant gain learning mechanism. If agents know the correct structure of the...

    Provided By Charles University

  • White Papers // Nov 2009

    A Theory Of Ethnic Diversity And Income Distribution

    In this paper, how the two dimensions of heterogeneity of people in society, income disparity and ethnic diversity, affect the reallocation of the income is examined. Specifically a legislative bargaining model is constructed to investigate how the political parties whose platforms are distinguished by ethnicity and income group, form a...

    Provided By Charles University

  • White Papers // Sep 2009

    Is The Stability Of Leverage Ratios Determined By The Stability Of The Economy?

    The choice of capital structure by firms is a fundamental issue in financial literature. According to a recent finding, the capital structure of firms remains almost unchanged during their lives meaning that leverage ratios are significantly stable over time. The stability of leverage ratios is mainly generated by an unobserved...

    Provided By Charles University

  • White Papers // Dec 2008

    The Implications Of Structural Asymmetries For Monetary Policy And Welfare In A Small Open Economy: A Linear Quadratic Framework

    The paper analyzes optimal monetary strategy and policy trade-offs in a DSGE model of an open economy with traded and non-traded sectors. The authors approximate the utility of the representative consumer to obtain a micro-founded quadratic loss function of the form extensively used for monetary policy assessment. The central bank's...

    Provided By Charles University

  • White Papers // Dec 2008

    Optimal Monetary Policy Rules: The Problem Of Stability Under Heterogeneous Learning

    In this paper, the authors extend the analysis of optimal monetary policy rules in terms of stability of an economy, started by Evans and Honkapohja (2003b), to the case of heterogeneous private agents learning. Following Giannitsarou (2003), they pose the question about the applicability of the representative agent hypothesis to...

    Provided By Charles University

  • White Papers // Dec 2008

    Economic Dynamics Under Heterogeneous Learning: Necessary And Sufficient Conditions For Stability

    The author provides sufficient conditions and necessary conditions for stability of a structurally heterogeneous economy under heterogeneous learning of agents. These conditions are written in terms of the structural heterogeneity independent of heterogeneity in learning. The author has found an easily interpretable unifying condition which is sufficient for convergence of...

    Provided By Charles University

  • White Papers // Dec 2008

    Pure Equilibrium Strategies In Multi-Unit Auctions With Private Value Bidders

    The paper examines a general class of multi-unit auctions. The class of games investigated includes uniform-price, pay-your-bid, all-pay and Vickrey auctions as special cases. The seller offers k identical units of goods and sets the minimum accepted bid. Bidders have atomless valuation distributions and they submit up to k bids....

    Provided By Charles University

  • White Papers // Nov 2008

    Competition Policy And Market Leaders

    The authors study the potential loss in social welfare and changes in incentives to invest in R&D that result when the market leading firm is deprived of its position. They show that under plausible assumptions like free entry or repeated market interactions there is a social value of market leadership...

    Provided By Charles University

  • White Papers // Nov 2008

    Reversibility In Dynamic Coordination Problems

    Agents at the beginning of a dynamic coordination process are uncertain about actions of their fellow players and anticipate receiving strategically relevant information later on in the process. In such environments, the (ir)reversibility of early actions plays an important role in the choice among them. The authors characterize the strategic...

    Provided By Charles University

  • White Papers // Nov 2008

    Are The Unskilled Really That Unaware? Understanding Seemingly Biased Self-Assessments

    The so-called unskilled-and-unaware problem was experimentally identified a decade ago: the unskilled are seemingly afflicted by a double curse because they also seem unaware of their (relative) lack of skills. Numerous authors have elaborated on this problem - experimentally as well as theoretically. In this paper, the authors report on...

    Provided By Charles University

  • White Papers // Nov 2008

    Gender Gap In Admission Performance Under Competitive Pressure

    Do women perform worse than equally able men in stressful competitive settings? The authors ask this question for competitions with a high payoff - admissions to tuition-free selective universities. With data on an entire cohort of Czech students graduating from secondary schools and applying to universities, they show that, compared...

    Provided By Charles University

  • White Papers // Oct 2008

    Stackelberg Leadership With Product Differentiation And Endogenous Entry: Some Comparative Static And Limiting Results

    Allowing for endogenous entry in the traditional Stackelberg setup with product differentiation, leads to reverting of the standard comparative static and limiting results. Unlike in the standard Stackelberg setup with barriers to entry, the leader's profit increases when the differentiation becomes lower. The reason is that competition becomes tougher when...

    Provided By Charles University

  • White Papers // Oct 2008

    Macroeconomic Stability: Transition Towards The Nominal Exchange Rate Stability

    The novelty of this paper is in the presentation of a theoretical frame work that allows the modeling of an announced switch of the monetary regime. In the authors' experiment, the monetary authority announces stabilization of the nominal exchange rate after the announced number of periods. They analyze the effects...

    Provided By Charles University

  • White Papers // Sep 2008

    Fair Trade - Is It Really Fair?

    One of the arguments against the Fair Trade scheme is that the guaranteed minimum price tends to depress world prices and thus the incomes of non-participating farmers (e.g. The Economist, 2006). The authors develop a model that distinguishes between the impact of the introduction of a Fair Trade market per...

    Provided By Charles University

  • White Papers // Sep 2008

    Dollarization In Transition Economies: New Evidence From Georgia

    This paper provides new evidence for dollarization in Georgia during the period from 1996 to 2007 using implications of dynamic money-in-utility-function models. Partial effects of foreign and domestic inflation, exchange rate, and foreign and domestic currency deposits' interest rates on dollarization are considered. The US dollar is a strong substitute...

    Provided By Charles University

  • White Papers // Sep 2008

    Source Of Information-Driven Trading On The Prague Stock Exchange

    The authors focus on the extent of information-driven trading sourced from the behavior of market makers on an emerging market. They develop a methodology based on the Easley et al. (1996) model in order to estimate the extent of informed trading originating from the behavior of Czech market makers on...

    Provided By Charles University

  • White Papers // Sep 2008

    How To Price Imperfect Certification

    This paper analyzes markets in which consumers do not directly observe the quality of the products but form their expectations about the quality based on the outcome of voluntary imperfect certification. The author analyzes how the certification fee impacts the decisions of the producers to apply for a certificate and...

    Provided By Charles University

  • White Papers // Sep 2008

    Viewer Sampling And Quality Signaling In A Television Market

    This paper analyzes a single television station's choice of airing tune-ins (preview advertisements). The author considers two consecutive programs located along a unit line. Potential viewers know the earlier program but are uncertain about the later one. They may learn it through a tune-in if they watch the earlier program...

    Provided By Charles University

  • White Papers // Sep 2008

    Monopoly Provision Of Tune-Ins

    This paper analyzes a single television station's choice of airing tune-ins (preview advertisements). The author considers two consecutive programs located along a unit line. Potential viewers know the earlier program but are uncertain about the later one. The TV station may air a fully informative tune-in during the first program....

    Provided By Charles University

  • White Papers // Sep 2008

    Comparing Certification And Self-Regulation

    The author compares certification and self-regulation, two widely used quality assurance mechanisms in markets where consumers do not observe the quality of goods. Certification is a mechanism in which an external firm offers a certificate to producers who undergo a testing procedure, issues the certificate if they meet the certifier's...

    Provided By Charles University

  • White Papers // Sep 2008

    Tax Evasion Dynamics In The Czech Republic: First Evidence Of An Evasional Kuznets Curve

    Using surveys of the Czech Republic taken in 2000, 2002, 2004, and 2006 the authors measure how the percentage of tax evaders evolved from 1995 until 2006. They find that at first evasion rose, leveled off, and then fell along a quadratic path, suggesting the existence of what they call...

    Provided By Charles University

  • White Papers // Aug 2008

    Learning-By-Exporting Or Managerial Quality? Evidence From The Czech Republic

    This paper employs firm-level panel data from the Czech Republic to investigate the empirical relevance of the learning-by-exporting hypothesis. To provide convincing estimates, one must be able to disentangle learning-by-exporting from changes in company management that induce the company to both start exporting and introduce productivity increasing measures. Therefore, the...

    Provided By Charles University

  • White Papers // Aug 2008

    The Effect Of Mortgage Origination Fees On The Housing Price Dynamics

    This paper explores the link between mortgage origination fees and housing prices. It is argued that sharp decline in mortgage origination fees in US since the late 1980s was caused by mortgage market deregulation and mortgage innovation. Based on this reasoning the sources of exogenous variation in mortgage fees are...

    Provided By Charles University