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Bachelor's Theses with Distinction

18/06/2018

We are pleased to announce that the following bachelor theses from summer term 2018 have been recognized as theses with distinction and at the same time have been nominated for the Deloitte Outstanding Thesis Award:

Karolína Chalupová: The Impact of Just-in-Time Inventory Management on Business Cycle Severity
(Advisor: Jiří Novák)

This thesis examines the impact of the just-in-time management (JIT) on volatility of inventory and the magnitude of inventory recessionary cuts. Prior research shows that a decrease in inventory volatility is likely an important source of the Great Moderation and that inventory cuts are a crucial part of GDP decreases during recessions. The results of this thesis show that JIT decreases volatility of inventory change and makes the recessionary inventory cuts milder. Combined with previous research, the results imply that likely, JIT is an important source of the Great Moderation and mitigates recessions. 

Jan Vainer: Extending Hotelling’s Location Model into Agent-based Domain
(Advisor: Jiří Kukačka) 

This thesis examines behavior of adaptive agents in Hotelling’s location model. Under Nash-Q learning and quadratic consumer cost function, as the thesis shows, agents with high enough valuation of future profits learn behavior similar to aggressive market strategy, where both agents make similar products and lead a price war in order to eliminate their opponent from the market. This result is surprising because in author´s simulation, quadratic consumer cost functions are used, which should result in maximum differentiation of the products. The results suggest that the Principle of minimum differentiation could be justified based on repeated interaction of the agents and long-run optimization.

A nomination for a thesis with distinction recognition and “DOT” Award is submitted by the respective defense committee and approved by Academic Director of Undergraduate Studies. 

We congratulate the authors and also thank their advisors for excellent work.

Autor - Mgr. Lucie Křížová M.A.

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