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Poptávková funkce na trhu s pojištěním: porovnání maximalizace paretovské pravděpodobnosti přežití s teorií EUT von-Neumanna a Morgensterna a s prospektovou teorií Kahnemana a Tver...

Hlaváček, Jiří; Hlaváček, Michal - Institut ekonomických studií, Univerzita Karlova v Praze - 2006

This paper shows results of comparison of the original theoretical conception of modeling human decisions under risk with two well known models. In the paper the demand function for insurance is constructed for the model of maximization of the probability of agent’s (economical) survival. This...

Persistent link: https://www.econbiz.de/10005673618

Definition and topical problems of the information economy

Očko, Petr - In: Politická ekonomie 2005 (2005) 3, pp. 383-404

The core aim of this paper is to suggest comprehensive definition of the information economy and delineate the range of economic problems it deals with, paying particular attention to its connections to the economics of information. The text, in the extent provided, can not investigate...

Persistent link: https://www.econbiz.de/10005036629

St Petersburg paradox and cardinal utility function

Hlaváček, Jiří; Hlaváček, Michal - In: Politická ekonomie 2004 (2004) 1, pp. 48-60

The St Petersburg paradox could be used as an extreme demonstration of the utility function cardinalisation in case of stochastic utility. In this article we reassume the von Neumann and Mongernstern explanation to this paradox based on the risk aversion expressed by the strict concavity of the...

Persistent link: https://www.econbiz.de/10005036631

Application of Combinatorial Auctions on Allocation of Public Financial Support in the Area of Environmental Protection: Economic Laboratory Experiment

Fiala, Petr; Šauer, Petr - In: Politická ekonomie 2011 (2011) 3, pp. 379-392

This paper presents results of repeated economic lab experiments. They were designed to test a model of combinatorial …

Persistent link: https://www.econbiz.de/10009147148

Strategic Choice Handicaps when Females Pay the Cost of the Handicap

Nöldeke, Georg; Samuelson, Larry - University of Bonn, Germany - 2001

We examine a strategic-choice handicap model in which males send costly signals to advertise their quality to females. Females are concerned with the net viability of the male with whom they mate, where net viability is a function of the male's quality and signal. We identify circumstances in...

Persistent link: https://www.econbiz.de/10004968337

Are economists different? economic model

Šeneklová, Jitka; Špalek, Jiří - In: Politická ekonomie 2009 (2009) 1, pp. 21-47

various groups of people who undertake the experiment. Our experiments try to (1) Evaluate real outcomes of model situations …'s dilemma and Ultimate and Dictator Games. In accordance to previous foreign experiments, we conclude that in real situations …-riding, people voluntarily contributed to public goods. According to the results of our experiments, the hypothesis that economists …

Persistent link: https://www.econbiz.de/10008754965

Learning from Errors

Martinez-Legaz, Juan Enrique; Soubeyran, Antoine - Departament d'Economia i Història Econòmica, … - 2003

We present a model of learning in which agents learn from errors. If an action turns out to be an error, the agent rejects not only that action but also neighboring actions. We find that, keepng memory of his errors, under mild assumptions an acceptable solution is asymptotically reached....

Persistent link: https://www.econbiz.de/10005572182

The impact of fresh releases on the yield curve

Pikora, Vladimir - In: Politická ekonomie 2007 (2007) 6, pp. 809-828

The paper deals with the impact of new information on the fixed income market. We expect this to be the first study covering such a topic in Central European markets. We prepared a model of a market reaction and found out that the market is not significantly driven by new macroeconomic figures....

Persistent link: https://www.econbiz.de/10005036606