Acta Oeconomica Pragensia, 2018 (vol. 26), issue 2

New Layout of the Main Network in the Vysočina Region

Martin Černý, Jaroslav Jánský, Ondřej Prchal

Acta Oeconomica Pragensia 2018, 26(2):3-23 | DOI: 10.18267/j.aop.595  

The aim of this contribution is to define the backbone road network of the Vysočina Region and to introduce a system of road management to this network. The determination of the extent of the backbone road network is based on multi-criterion decision-making methods, with traffic as the basic parameter for defining the backbone road network. This is referred to as the number of vehicles passing through that section for a specified period of time. Vehicles are further divided into categories according to their size. A new backbone road network layout is designed to better reflect the current situation. In addition, a road management system is in place...

THE IMPACT OF MICROFINANCE ON ENTREPRENEURSHIP IN KYRGYZSTAN

Kadyrbek Sultakeev, Kamalbek Karymshakov, Burulcha Sulaimanova

Acta Oeconomica Pragensia 2018, 26(2):24-40 | DOI: 10.18267/j.aop.599  

The concept of microfinance has developed rapidly since its inception in 1976. Despite its development, the impact it has on entrepreneurship is a subject of debate. Scholarly articles have recently emerged outlining that successful entrepreneurship depends on individual and household characteristics, and on the status of the microfinance loan received. This paper investigates the impact of microfinance on entrepreneurship in Kyrgyzstan using the nationally representative household survey data for 2013. Due to the endogeneity issue, we applied the binary response model with instrumental variables. After the adjustment for endogeneity, the result indicates...

MASS MEDIA COMMUNICATION & COMPANIES' MARKET POSITION: THE CASE OF THE CZECH MORTGAGE MARKET

Daria Gunina, Michal Novák, Tomáš Kincl, Lenka Komárková

Acta Oeconomica Pragensia 2018, 26(2):41-55 | DOI: 10.18267/j.aop.600  

The study analyses mass media communication by mortgage lenders in the Czech market and builds on Kotler's competitive strategies concept and aims to answer the question of whether there is a relationship between the mortgage lenders' market position and their mass media communication profile. Furthermore, it analyses the mass media communication of mortgage lenders according to their financial performance. The analysis utilises complete monitoring data from the mass media market in the Czech Republic. As a result of this study, the different advertising patterns of the market leaders and challengers on a highly commoditised market are shown. Market...

POLICY IMPLICATION OF PRICE COLLUSION IN A DUOPOLY MARKET WITH DIFFERENTIATED PRODUCTS

Doriani Lingga, Damiana Simanjuntak

Acta Oeconomica Pragensia 2018, 26(2):56-67 | DOI: 10.18267/j.aop.601  

This paper uses a duopoly model with horizontally differentiated products to analyse how price collusion in the presence of a uniform tax affects market equilibrium. Moreover, this paper investigates the effect of price collusion on social welfare and the government's decision in setting the optimal tax. We show that in the presence of a uniform tax, instead of bringing social welfare down as is traditionally believed, price collusion affects government policy implication. We further show that firms still prefer colluding rather than competing, for which the government's policy decision becomes the key point. By allowing the optimal tax to be negative,...

Review

Cyberspace: Global Public Goods?

Gabriela Žáková

Acta Oeconomica Pragensia 2018, 26(2):68-82 | DOI: 10.18267/j.aop.602  

Cyberspace has become an indispensable part of our everyday lives. Due to the Internet of Things, it has permeated the whole of society. Nevertheless, cyberspace on its own still tends to be neglected in academia, especially in social sciences. This article aims to contribute to the debate over whether cyberspace may be labelled as global public goods. First, the essential economic theories dealing with public goods are presented forming a solid basis for the subsequent analysis and stating the basic conditions for the evaluation of cyberspace as global public goods. Second, a basic cyberspace model is introduced dividing it into three different layers...