In this paper we examine a class of local crimes that involve perfectly mobile criminals, and perfectly immobile criminal opportunities. We focus on local non-rival crime deterrence that is more efficient against criminals pursuing domestic crimes than criminals pursuing crimes elsewhere. In a...

This article provides the first comparison of public sector efficiency in and beyond transition. We compare the comprehensive efficiency scores of 202 local governments in the Czech Republic in the transition period of 1995-1998 and the post-transition period of 2005-2008 and identify the...

The paper estimates cost efficiency of 99 general hospitals in the Czech Republic during 2001–2008 using the Stochastic Frontier Analysis. We control for determinants of the inefficiency and found that bigger, not-for-profit and teaching hospitals tend to be less efficient, as well as...

The paper estimates cost efficiency of 99 general hospitals in the Czech Republic during 2001–2008 using the Stochastic Frontier Analysis. We control for determinants of the inefficiency and found that bigger, not-for-profit and teaching hospitals tend to be less efficient, as well as...

In this article we extend the agent-based model of firms’ formation and growth proposed in [4]. In [4] the firms‘ creation, expansion or contraction results from the interaction of heterogeneous utility maximizers. While the original model was able to replicate the power law distribution in...

This paper focuses on the key credit risk parameter–Loss Given Default (LGD). We describe its general properties and determinants with respect to seniority of debt, characteristics of debtors or macroeconomic conditions. Further, we illustrate how the LGD can be extracted from market...

Fair representation of voters in a committee representing different voters’ groups is being broadly discussed during last few years. Assuming we know what the fair representation is, there exists a problem of optimal quota: given a “fair” distribution of voting weights, how to set up...

In this article we evaluate the pricing performance of the rather simple but revolutionary Black-Scholes model and one of the more complex techniques (neural networks) on the European-style S&P Index call and put options over the period of 1.6.2006 till 8.6.2007. Our results on call options show...

In the fields of social choice, public choice and political economics, the main difference between private and political choice is whether individual preferences are aggregated to make a decision. A much less studied difference is whether beliefs are aggregated to make a decision. In this paper,...

The paper is dealing with the credit support to the Czech agriculture provided by Supporting and Guarantee Agricultural and Forestry Fund (SGAFF) during the ten years period since the inception of its activities in 1994 do the year 2003 which preceded to the Czech entry into European Union (EU)...