Do investors make bad decisions following the clock change? If so, there would be traces of such anomaly in market data. In this thesis, we investigate these traces focusing on the stock markets of the Visegrad Group, known to be pre- vailingly illiquid. We combine the most recent financial data with the ARIMA- GARCH framework while employing brand-new Bayesian techniques. Using several robustness checks, we show that such e ect cannot be traced in these markets. While we do not claim to challenge the seminal works in this field, we do support the evidence that the e ects of daylight saving policy do not pertain to less liquid markets. JEL Classification C11, G12, G14, G41 Keywords daylight saving time, market anomaly, Visegrad Group, Bayesian analysis Title Daylight Saving Time and Stock Market Re- turns: Evidence from the Visegrad Group

The Covid-19 crisis disrupted consumer behaviour in many ways and created financial challenges for the majority of people. This led to increased levels of financial anxiety, especially among young adults. The purpose of this study was to explain the influence of Covid-19 induced financial anxiety on the saving intentions of millennials. This study was based on the Theory of PlannedBehaviour, which we extended with an additional variable – financial anxiety. Additionally, the aim was to compare how this financial anxiety manifests in terms of saving intention in two different countries, Sweden and Serbia. A quantitative study was conducted, using an online survey. Data collection was carried out between April and May 2021. The non-probabilistic, snowball sampling method was utilized together with posting the survey on different Facebook groups, which resulted in 150 usable responses in Serbia and 131 in Sweden. The findings of this study suggest that financial anxiety negatively influences saving intentions in both countries. Moreover, financial anxiety had a negative impact on three out of four components (attitude to saving, perceived behavioural control to saving, personal saving intention) of the Theory of planned Behavior. Attitude towards saving is found to be the strongest predictor for the intention to save followed by perceived behavioural control. Subjective norms had the least predictive power, especially in Serbia where they failed to predict personal saving intention.

Syftet med denna studie var att undersöka olika algoritmer som kan användas för attlösa ruttplaneringsproblemet och handelsresandeproblemet. Ruttplaneringsproblemetoch handelsresandeproblemet är problemet som uppstår när den kortaste sträckan skahittas mellan olika körpunkter och problemet är löst efter att den kortaste sträckan blivitfunnen. Observationer och intervjuer hos återvinningsföretaget Gotland Recyclinggjordes för att undersöka hur heuristiker som är metoder, tumregler som kan användasför att få fram resultat som är bra men inte alltid helt optimala kan användas för att kortaner körruterna. Arbetet gjordes med hjälp av företaget Gotland Recycling som idag harcirka 500 kunder per år och äger två sopbilar samt två lastbilar. Företaget har under enlängre tid förstått att deras ruttplaneringssystem har kunnat förbättras därav har företagetintresserat sig för att testa nya metoder för att förbättra sina egna rutter samt olikametoder för att validera de metoder som redan används för ruttplanering och körning.Google Maps och Microsoft Excel användas i denna studie för att applicera de olikaruttplaneringsmetoderna och kunna analysera de olika rutterna. Med hjälp av GoogleMaps har kostnader i form av körsträcka i meter och kilometer tagits fram genom attapplicera algoritmerna på olika körnings områden. Med hjälp av Google Maps ochMicrosoft Excel har fordonens körningsmönster blivit kartlagda och registrerade itabeller där de olika algoritmerna blivit applicerade för att bygga upp nya rutter ochmäta de nya rutternas körsträcka. Litteratur och artiklar har även samlats ihop för dennastudie och användes för att analysera olika ruttplanering och handelsresandeproblemsmetoders olika svagheter och styrkor. Resultatet från testerna och litteraturen visade attdet finns en potential att olika lösnings metoder som undersökts i denna studie kanminska på körsträckan. Olika lösningsmetoder har olika förutsättningar, styrkor ochsvagheter beroende på situationen som de appliceras inom. I två tester av tre medanvändning av någon av den utvalda ruttplanerings metoder minskade körsträckan imeter för rutten jämfört med företagets egen ruttplanering. Både testerna och litteraturenpåvisade att ibland förekommer mycket oberäkneliga hinder inom vissa områden somgör det meningslöst att applicera ruttplanering och handelsresandemetoder inom dessaområden och att mer avancerade system krävs för att hantera situationen. / The aim with this paper was to study how different kinds of heuristics for the routeplanning and traveling salesman’s problem could affect the route, potentially decreasethe driving costs and make it easier for companies and vehicles to plan their routes. Toinvestigate how different heuristics can affect the route planning, observations andinterviews has been made in a company named Gotland Recycling. Gotland Recyclingis a recycling company which operate on the island Gotland. Today the company has500 customers per year and owns four truck vehicles. The company has understood thatfor a long time their route planning system can be improved and has taken an interest intesting new methods to improve their own route planning and validate the methodswhich they are already using for route planning and driving. To analyze the differentroutes Google Maps and Excel was used. With the help of Google Maps and Excel costsin the form of driving length in meter and kilometer has been produced by applying thechosen algorithms on different driving areas. With the help of Google Maps and Excel,the driving pattern has been charted and registered in different tables. Differentalgorithms have then been applied to construct new routes and measure their mileage.Theory in the form of literature and articles has been collected for this study to analyzeand compare different strengths and weaknesses of different route planning andtraveling salesman problem solving methods. The result from this study shows there is apotential for different solution methods to make the mileage smaller. Different solvingmethods had different qualifications, strengths and weaknesses which depended on thesituations which they were applied. In two of the three tests which were made thechosen solving methods produced routes which were shorter than the route produced bythe company. Both testing and the literature also showed that for some situations thereare so many random obstacles in driving areas which make it meaningless to apply anytype of route-planning method and more advanced systems are required.

Homologie simpliciale est un outil très efficace pour accéder à des informations importantes sur la topologie des réseaux sans fil, tels que : la couverture et la connectivité. Dans cette thèse, nous modélisons le réseau sans fil comme un déploiement aléatoire des cellules. Tout d’abord, nous introduisons un algorithme pour construire le complexe de Cech, qui décrit exactement la topologie du réseau. Ensuite, ˇ le complexe de Cech est utilisé dans des applications avancées. La première application est d’économiser ˇ l’énergie de transmission pour les réseaux sans fil. Cette application non seulement maximise la couverture de le réseau, mais réduit également la puissance de transmission. En même temps, la couverture et la puissance de transmission sont optimisées. La deuxième application est pour équilibrer la charge de trafic dans les réseaux sans fil. Cette application contrôle la puissance de transmission de chaque cellule dans le réseau, toujours sous contrainte de couverture. Avec la puissance d’émission contrôlée, les utilisateurs sont redirigés vers des cellules de charge plus faibles. Par conséquent, la charge du trafic est répartie entre lesdifférentes cellules. / Simplicial homology is a useful tool to access important information about the topology of wireless networks such as : coverage and connectivity. In this thesis, we model the wireless network as a random deployment of cells. Firstly, we introduce an algorithm to construct the Cech complex, which describes exactly the topology of the network. Then, the Cech complex is used in further applications. The first application is to save transmission power for wireless networks. This application not only maximizes the coverage of the network but also minimizes its transmission power. At the same time, the coverage and the transmission power are optimized. The second application is to balance the traffic load in wireless networks. This application controls the transmission power of each cell in the network, always under the coverage constraint. With the controlled transmission power, the users are redirected to connect to the lower traffic load cells. Consequentially, the balanced traffic load is obtained for the network.

Dans cette thèse, j’examine l’effet de l’incertitude sur les comportements de consommation dans les modèles de cycle de vie. Bien qu’on ait fait le constat depuis les années 1980 que l’incertitude peut modifier de manière substantielle les prédictions des modèles de cycle de vie, certains des mécanismes en jeu sont encore mal connus. Dans le chapitre 1, j’étudie les conséquences de la présence d’incertitude sur la croissance de la consommation, et je montre qu’elles mettent en cause la croyance existante selon laquelle la consommation obéirait une marche aléatoire dans les modèles de cycle de vie standards. En effet, l’incertitude pousse les ménages prudents (c'est-à-dire qui ont une utilité marginale convexe) à réallouer une partie de leur consommation présente vers le future, qui est incertain, et donc à choisir un niveau de consommation présent inférieur à leur niveau de consommation future espérée. Cela implique que des variables autres que la consommation présente améliorent la prédiction de la consommation future, car elles permettent de prédire la différence de précaution entre consommation présente et consommation future. Dans le chapitre 2, je considère l’impact de l’incertitude sur le niveau de consommation des ménages, comment il varie selon leur revenu et leur richesse, et donc comment leur consommation répond à des chocs de revenus. Puisque la présence d’incertitude induit les ménages à allouer une part plus grande de leurs ressources aux périodes futures, ils épargnent davantage à la période présente. Je mets en évidence le fait que cette épargne supplémentaire, baptisée épargne de précaution, varie de manière décroissante et concave avec la part transitoire du revenu et avec la richesse, mais de manière croissante et convexe avec la part permanent du revenu. Dans le chapitre 3, je tire les conséquences de ces résultats pour la mesure empirique de la réponse de la consommation à des chocs de revenu. Je m’appuie sur les résultats des chapitres 1 et 2 pour montrer que, dans les modèles de cycle de vie standards, la croissance de la consommation est négativement corrélée aux réalisations des chocs transitoires passés, à cause du comportement de précaution. Une telle corrélation induirait un biais dans une méthode fréquemment utilisée pour estimer la réponse de la consommation à des chocs de revenu transitoires, développée par Blundell, Pistaferri and Preston (2008). En effet, leur méthode attribuerait aux chocs transitoires présents les variations de la consommation expliquées par les chocs passés, prédisant ainsi une réponse trop faible aux chocs transitoires. Je généralise cette méthode pour prendre en compte l’influence possible des chocs passés sur la croissance de la consommation. Avec cet estimateur plus flexible, j’obtiens que la réponse de la consommation à des chocs transitoires est statistiquement significative et que sa magnitude concorde avec les études sur la réponse de la consommation à des baisses d’impôts transitoires. / In this dissertation, I examine the impact of uncertainty on consumption decisions, known as precautionary saving, a life-cycle model.In the first chapter, I generalize and correct previous findings comparing consumption and its response to variations in assets and permanent income in the presence and in the absence of uncertainty. I establish that, in a multiperiod life-cycle model, under some conditions on the marginal utility function that are verified by standard preferences, the presence of uncertainty increases saving. The variations in this additional saving makes consumption more responsive to variations in assets, concave in assets, less responsive to variations in permanent income, and concave in permanent income.In the second chapter, I draw the implications of these results for existing expressions of consumption. Precautionary saving implies a departure from random walk representations of consumption. It remains inadequate when considering approximation of the life-cycle model around small income shocks or small variance parameters.In the third chapter, I build on these results to explain the discrepancies between two methods used for the estimation of the consumption response to transitory income shocks. Indeed, the presence of precautionary behavior induces a correlation between consumption growth and the realization of past shocks. Some of the existing estimation methods neglect this correlation, so that, in the presence of precautionary behavior, the variations caused by past shocks are attributed to consumption's response current transitory shocks, causing an estimation bias. A number of other mechanisms can induce a correlation with past shocks, such as liquidity constraints or habit persistence, generating a similar bias. I develop a generalized version of these estimators that takes into account the possibility of a correlation between consumption growth and past shocks. The results that I obtain is consistent with the findings derived from other methods.

This thesis is an explanation of Real Estate Auctions in the Czech republic. It is a document, to be used by the Auctioneer and also by the organization of the Auction for issued expenses. This thesis describes how the price of property can be created. It also explains methods to detect the usual Auction price of the property, in the experts opinion, and it provides specific case estimates of the prices of auctioned property. Further this thesis analyzes the growth of Auctions in the Czech republic in time and cost savings against the usual price of property, which can be reached by the bidder in a public Auction.

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Purpose: The purpose of this study was to plan blueprints for a school located Härbregatan and Vallby Skolgata in Västerås with a focus on energy losses and window placement to choose the most suitable types of windows to obtain a good internal environment. Method: The methodology used to conduct this thesis was based on earlier case studies, literature book and literature reviews in the form of legal specification from Boverket Byggregel (BBR) that had a significant impact on how the school was designed, interior and exterior views. Results: The study demonstrated how important window types and selection was for the students and the teachers occupying the classrooms because windows are a vital source of light, energy and encouragement due to the daylight. Larger windows minimize the need for electrical lighting but increases the risk of energy loss due to inadequate insulation resulting in an impact on the indoor environment and causing a higher energy usage. The size of the window also has an impact on specific transmission losses, thermal bridges, heat losses and as well as the solar radiation passing through the glass, according to this study. Conclusions: The study came to the conclusion that while windows have a significant role in these aspects, additional aspects that include the size of walls, doors, floors and ceiling also play an essential part. Larger windows lead to increased transmission losses and thermal bridges, but at the same time it lets in more daylight and sunlight in the form of heat energy, therefore larger windows are a better choice to use in the school building.

In order to control the energy consumed by vehicles for crossing signalized intersections, this project designs and tests a speed guidance energy-saving strategy for signalized intersections, taking drivers’ bounded rationality into consideration. This research achieves speed guidance by developing theoretical foundation of speed guidance, dividing scenarios for practise of speed guidance, and calculating optimal trajectories for vehicles. As for influence of bounded rationality, this research categorizes all drivers into three different types: aggressive drivers, normal drivers and conservative drivers. Numerical simulation of this research is focuses on a single intersection, with three traffic saturation level, represented by 346, 519 and 692 vehicles per hour. Considering the foreseeable popularization of electric cars (EV) in the close future, proportion of EV is also taken as a variable, and experiments are carried separately at three milestones of EV proportion: 0%, 30%, and 60%. The findings suggest that aggressive drivers benefit the most from the speed guidance in energy saving, and speed guidance does lest benefit to normal drivers. Both drivers’ bounded rationality and high traffic volume could lead to increase of energy consumption, while providing specifically modified speed guidance is able to achieve satisfying reductions to these effects. With increase of EVs’ proportion in the traffic flow and drop of overall energy consumption, effect of the guidance becomes comparatively worse than the previous non-EV performance of 7% to 11%, while remaining to be effective to cut off overall energy consumption by 5% to 8%. This research is able to improve normal speed guidance with more accurate and practicable guidance information for drivers in current traffic environment.