Název / Title Eseje o rozhodování pod stresem / Essays on Decision Making under Stress Student PhDr. Lubomír Cingl Studijní program / Study program Ekonomické teorie Školitel / Advisor PhDr. Michal Bauer, Ph.D. Abstract This dissertation comprises three thematically connected experimental studies of human behavior under non- standard conditions: time-pressure and stress. In the Introduction section I present the argument for why it is important for economists to recognize stress research as a valid part of the research in economics and how it can contribute to the growing knowledge of human behavior in general, including several examples from the literature. The first paper presented in Chapter 2 examines the effect of time pressure on the individual propensity to herd, while the remaining two papers examine the effect of acute stress on risk-preferences and herding behavior, respectively. Herding behavior is a very important phenomenon in human decision making since social influence is very frequent in our lives and economic decisions: consider traders in financial markets, wait-and-see investors, but also purchase behavior due to fads, fashion and top-ten lists. Risk preferences are another essential factor which determines many important economic outcomes, and the assumption of their stability is a...

The target of this diploma thesis is the application of the external audit on the financial statement of the concrete accounting unit according to applicable audit regulations. In the first theoretical part I deal with the definition of audit, its functions, further legislation of audit in the Czech Republic and the auditing process. Literature has been the source of information for me. In the second practical part I focus on selected company. For my thesis I have chosen DUDÁK ? Měšťanský pivovar Strakonice, a.s. Next I focused on own implementation of auditing in the organization. I carried out the audit of financial statements for year 2011. The result of my work is to refer to facts that I evaluate as positive.

Thesis themed "Efficiency evaluation models and their applications" deals with mathematical models for the efficiency evaluation of comparable production units and targets the utilization of Data Envelopment Analysis (DEA) for this purpose. The thesis aims first to describe DEA models and mention possibilities of their application and then to practise the theoretical knowledge by using proper software in a factual instance. To reach this aim the thesis is composed of two parts {--} theoretical abstract and practical application. The abstract contains basic theory of DEA: fundamental principles, input data and results and description of primary, alternate and modified models. A summary of software applications that can evaluate efficiency using DEA follows. The abstract is closed with some real examples of DEA applications in practice. The second part of the thesis arose from cooperation with a fire department of a factual region of the Czech Republic. The efficiency of its 16 fire stations is compared by using a proper DEA model. A number of actions (output) and a number of employees, a level of fire equipment and an inside area (inputs) are established for each fire station on the strength of the fire department{\crq}s statistics, databases and estimations. The efficiency calculation is performed through the use of the Frontier Analyst Professional, software application specially made for the DEA analysis. Regarding the outputs uncontrollable character an input-oriented DEA model is chosen for the calculation of the fire stations efficiency. A result of the DEA efficiency analysis consists in separating the effective and ineffective fire stations of the surveyed fire department. The potential improvement (inputs decrease), necessary to reach the maximal efficiency, is proposed to each ineffective fire station. This suggestion is further adapted with respect to the real feasibility and the Czech legislative order. The practical part of the thesis is concluded with appreciation to what degree the stated targets were reached and to what degree the application of the DEA method to comparing the factual fire stations efficiency was rewarding.

Ekonomy i psychology po celém světě vždy zajímala otázka procesu lidského rozhodování. Eko- nomové zd·razňují význam teorie úžitku během rozhodování, kdežto psychologové se zaměřují na r·zné vnitřní a vnější stimuly ovlivňující naše rozhodnutí. Oba tyto přístupy m·žeme najít v be- haviorální ekonomií, kde oba koncepty mezi sebou těsně spolupracují. Znalost r·zných ekonomic- kých i psychologických faktor·, které ovlivňují náš výběr m·že být mimo jiné přínosná například ve výzkumu spropitného. Abychom našli r·zné d·vody pro placení spropitného, vytvořili jsme experiment ohledně výše spropitného u českých zákazník·. Procentuální výše spropitného byla zkoumána v závislosti na pohlaví obsluhy, velikosti skupiny, která navštívila restauraci, velikosti účtu na jednu osobu a také byl zkoumán vliv tří na sobě nezávislých intervencí. Tyto intervence byly zaměřeny na altruistické chování, reciprocitu a dobrou náladu zp·sobenou personalizací. Výsledky experimentu jsou překvapující a neshodují se s výsledky z předchozích experiment·. Bylo zjištěno, že intervence spojené s altruismem a reciprocitou mají negativní vliv na výši spro- pitného, avšak intervence spojená s personalizací nemá žádný vliv na spropitné. Ve výsledku se také poukazuje na klíčový vliv země, ve které je experiment proveden. 1

This thesis focuses on capturing causal link between alcohol consumption and one of its externalities, crime. The quasi-natural experiment of the Czech temporary ban on hard liquor following an outbreak of methanol poisonings in September 2012 provides a valuable setting for evaluation of the alcohol-crime relationship. Over the course of the prohibition, violent crime rates fell by approximately 10 %, just like the aggregate of aggravated assault, criminal threatening, vandalism and property damage. In addition, the biggest share of reduction in crime falls on weekend criminality. The number of offenders under the influence of alcohol dropped by approximately 18 % for traffic-related offences and by 28 % in non-traffic offenses. The possibility of the reduction in crime being caused by lower detection capabilities of the law enforcement was examined. The reduction in reported cases of e.g. driving under the influence might be to a large extend explained by lower detection, but it could have reduced only rates of victimless crimes. Finally, the property crime rate was not significantly affected by the intervention, except for burglaries into bars and restaurants.

Using two experiments, where children either rolled dice or solved a matrix task, we examined whether scouts are more honest than non-scouts. In the first experiment, participants completed a matrix task. The papers were then shredded, and participants self-reported the number they had correctly solved. After analysing the results, we found that 10.81 % of scouts and 13.04 % of non-scouts lied. This difference, between the honesty of scouts and non-scouts, was not statistically significant. There was no perceived effect from being scout on the individual's honesty, as well as from taking the scout promise, or years of experience in a scout organization on the scout's honesty. In the second experiment, participants rolled the dice privately. According to value rolled, participants could either take (1, 2, 3), or leave (4, 5, 6), a Kinder chocolate reward. Statistically, participants would be expected to take the reward 50 % of the time. This was the case for the scouts group, the results did not differ statistically from 50:50, but not for the non-scouts. However, the difference between scouts and non-scouts was not statistically significant, indicating that there is no significant difference in honesty between scouts and non-scouts. Thus, our hypothesis that scouts are more honest than non-scouts was not supported.

What is the rationale behind immigration policies? Do developed countries really want to restrict immigration?

The aim of this study is to investigate the reasons of slow path of economic transformation in Belarus. In the first part is analyzed the general pattern of transition, characteristic for most of post-soviet countries. In the second part is described the path of transition in Belarus -- one of the least transformed countries in post-soviet region. In the study is introduced the analysis of initial conditions and first market reforms implemented on the initial stage of transition. Also, the author investigates the economic model, established in Belarus after market reforms had been suspended. In the study is discussed the possibility for continuation of economic transformation in Belarus in recent future. In order to summarize the key points of the study and draw the complex picture of Belarus in the world economy the SWOT analysis of Belarusian economy is introduced.

Diploma thesis examines the relationship between socio-demographic trends and municipal solid waste generation. It follows an increasing trend towards the integration of environmental, economic and social aspects to indicate the municipal solid waste generation at the present time. Not only gross domestic product, but also social indicators, household size and age structure have a significant impact on the amount of municipal solid waste. The topical aim of the thesis is to review the state of present knowledge regarding socio-demographic changes, analyse previously published models of municipal waste generation, identify socio-economic factors important for describing the amount of municipal waste at various levels in Czech Republic and observe broad scale of potential relationships. The observations and survey were made on two levels -- regional and city level. From the models obtained by working with various set of explanatory variables at regional level, one linear multivariate regression model with explanatorz power 90,20% was described in diploma thesis. It consists of one dependent variable -- municipal waste generation per household and five independent variables (net money income, household size, living costs per household per month, number of retired pensioners in household and households with net income below minimum subsistence). At city level, some parameters were just proved by correlation analysis, but they were not used as explanatory variables in regression analysis in order to obtain optimal model. Those used in regression analysis are number of inhabitants and number of people in main age groups. Regression index R2 indicates that this model explains 58,78% of the variability in total household waste generated in cities. To conclude, socio-demographic determinants of environmental protection are usually less relevant for explanation of fluctuations within waste management chain than psychological variables (attitudes, values, beliefs) and political factors. Anyway, literature review indicates that the investigations and assessment of future municipal waste streams should cover not only commonly used economic parameters, but also socio-demographic factors (Bach, 2003; Beigl, 2004; Řeháková, 2001).

The aim of this work attempts to identify some causes of the current trend in household debt. The work presents its own model of debt financing. Subjects maximize their discounted utility, which depends on its consumption and debt financing in different time periods. Consumer and mortgage loans are analysed. Model simulates an inefficiency of any type of consumer debt financing, and allows benefits in certain situations in mortgage debt financing. These results are discussed in terms of model assumptions, and also from the perspective of some behavioral approaches to indebtedness. The findings are put into comparison with the current trend in the debt financing and identify the reasons, why the model is or is not equivalent to today's economic trends.