Work detail

Alternative Models of Decision Making and Negotiation of Economic Subjects Relating to the Economic Information

Author: PhDr. Michal Hlaváček, Ph.D.
Year: 2004 - summer
Leaders: doc. Ing. Tomáš Cahlík CSc.
Work type: Dissertations
Language: Czech
Pages: 106
Awards and prizes:
Abstract: This thesis is devoted to the relatively new area of economics examining the role of information. This area of economics is attractive among others due to its “internal inter-disciplinarity”- it connects otherwise often relatively separated parts of the economics (microeconomics, macroeconomics, financial economics…). This thesis is divided to five relatively independent chapters whose cover these areas of economics.
The first chapter presents model explaining the existence of the financial intermediation from asymmetric information. This model is based on similar model of Holmström and Tirole (1997). Second chapter presents microeconomic model modelling the flows of information between two subjects with positive externality relation. The model tries to describe the willingness to offer information depending on the size of the donator. The third chapter contents the model of the producer of information (or of the product including high fixed research costs), which has the zero marginal cost together with monopoly power, but he also suffers the possible entrance of the second oligopolist. From his point of view this threat is random depending on his level of profit (the higher is the profit the more likely is the entrance of the second oligopolist) being put into the trade-off with threat of escape of the shareholders due to low profit. The macroeconomic counterpart of the models presented in the previous chapters is analysed in the fourth chapter which present the model of the diffusion of the technology between rich country developing the new technologies and the poor country just copying it. It is shown that this model is able under reasonable assumptions to explain in reality seen differences in welfare between countries (unlike the standard models of research and development). The key role plays the factor of lag in copying the technology. The chapter contents also the discussion of the factors influencing this lag factor with the special attention to human capital. The last fifth chapter presents the probit/logit model estimating the survival rate of the Czech enterprices in 1998-2001. On the basis of this model it is deduced that the diffusion of the technology played important role in the survival of the enterprises in this period
Downloadable: Dissertation Thesis - Hlaváček
June 2023


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