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Financial decision-making with implementation of bounded rationality assumption
Markovič, Peter; Šinský, Michal; Šinský, Peter - In: Ekonomický časopis : časopis pre ekonomickú … 58 (2010) 1, pp. 3-16
Persistent link: https://www.econbiz.de/10003950624
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Corporate strategy and financial theory
Vlachý, Jan - In: Politická ekonomie 2009 (2009) 2, pp. 147-162
well-researched schism between strategic management and financial theory. Options theory provides a potent tool to resolve …
Persistent link: https://www.econbiz.de/10005258060
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Flexibility Value of Czech Power-Generation
Vlachý, Jan - In: Ekonomika a managment 2008 (2008) 2
The power-generation industry offers numerous opportunities to apply real options. This paper uses current empirical market data to estimate the value of flexibility in the Czech energy sector, which can serve to compare available technologies, and support various investment decisions. The model...
Persistent link: https://www.econbiz.de/10009398902
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Zpochybnění deskriptivnosti teorie očekávaného užitku / Expected utility theory reconsidered [available in Czech only]
Skořepa, Michal - Institut ekonomických studií, Univerzita Karlova v Praze - 2006
the basics of expected utility theory, the key pieces of evidence are described which showed that under certain … circumstances, this theory is not descriptively valid. The most promising alternative, cumulative prospect theory, is then presented … prospect theory either, so that a model which would explain all evidence on decisions under risk is still to be found. …
Persistent link: https://www.econbiz.de/10005673608
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Replication Methods in the Pricing and Hedging of Barrier Options
Tomáš, Tichý - In: Czech Journal of Economics and Finance (Finance a uver) 54 (2004) 7-8, pp. 305-324
This paper considers various options replication methods. Firstly, a specific type of barrier option, an up-and-out call, is considered. Other barrier options are briefly also described, and various types of barriers are considered. Secondly, a general definition of replication methods is...
Persistent link: https://www.econbiz.de/10008549672
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An Analysis of Financial Performance Using the EVA Method
Dluhošová, Dana - In: Czech Journal of Economics and Finance (Finance a uver) 54 (2004) 11-12, pp. 541-559
The paper considers company performance measures and the development of the Economic Value Added (EVA) indicator in volatile economies, particularly in the case of the Czech Republic. Methods used for pyramidal analysis, their assumptions, and their application possibilities are discussed. A...
Persistent link: https://www.econbiz.de/10008549911
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Hedging Strategies and Financial Risks
Zmeškal, Zdenìk - In: Czech Journal of Economics and Finance (Finance a uver) 54 (2004) 1-2, pp. 50-63
Hedging strategies represent basic instrument used toward eliminating financial risk. Increasing volatility of financial markets and their globalization also lead to higher financial risks. These aspects are especially important for transitional and small open economies. The basic goal of the...
Persistent link: https://www.econbiz.de/10008495620
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The penalty on risky personal income due to tax rate progression
Vlachý, Jan - In: Politická ekonomie 2007 (2007) 5, pp. 625-636
This paper analyzes the tax penalty on volatile personal income under progressive tax rates. The phenomenon may have an effect on long-term entrepreneurial decisions as well as risky occupational choice. An options-based model is used to estimate the expected effective rate due from tax-payers...
Persistent link: https://www.econbiz.de/10005036619
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New elements in global architecture of isurance markets
Ducháčková, Eva; Daňhel, Jaroslav - In: Politická ekonomie 2006 (2006) 3
This article is dealed about the requirements on new architecture of financial markets, namely for banking and insurance market. The principles of Basel II and Solvency II are discussed. The second part of article concerned with quality changes in comercial insurable risk and financial decesion...
Persistent link: https://www.econbiz.de/10005036623
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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