MUDr. Jan Fiala, Ph.D.

In a blinded, randomized Ultimatum game we study the decision rates using two different reward systems. We discuss the individual value perception and explain why we decided to test a non-monetary reward against the standard low stake monetary reward. We demonstrate that the value sys-tems based on two different, inconvertible currencies lead to different deci-sion rates in the same population. We provide the details of our single blind randomized protocol and discuss other protocol modifications designed to demonstrate the variability of the offer and / or response rates in the Ulti-matum games. We provide our concept of rational, non-rational and irra-tional components contributing to the decision making process in different accord depending on the individual perception of the reward value and confront our experimental findings with the key assumptions provided by other authors.

Economics is the study of the behavior of individuals, firms and governments. The economic way of thinking leading to rational behavior is based on two main principles. The cost-benefit principle holds that an individual or a firm or a society should take an action if, and only if, the extra benefit from taking the action is at least as great as the extra cost. The cost must consider opportunity cost as well. The decision to take an action should be focused on extra benefit and extra cost, with respect to the principle of considering marginal values. The behavior of consumers is motivated by a rational spending rule. The activities of firms are led by the invisible hand to maximize the economic profit. In the model known as the perfectly competitive market there are many firms supplying identical products. Each firm is a price taker and makes the decision only about the volume of production it will supply. The opposite market structure is a monopoly, where there is only one supplier in the market with no close substitutes for its product. The most frequent forms of imperfect competition are monopolistic competition with many firms producing slightly different products which are close substitutes, and oligopoly with a few rival firms producing a close substitute.

The dictionary is a unique universal aid in economic terminology. It contains more than 600 explanatory terms and more then 900 reference terms. The third edition is an updated and enlarged publication with respect to new issues in the world economy, financial crisis and monetary policy of central banks actions. The dictionary is bilingual. Not only the terms but the whole text is presented in both languages – Czech and English. The explanation of terms includes numerous easy-to-read graphs and tables that facilitate the understanding of terms. Facts concerning international organizations and especially terms from the field of European integration bring latest data together with some necessary historical ones. The cross referencing and links ensure the important continuity of topics.

Vision is among the most powerful sources of information provided by human senses. As much as 70 percent of stimuli come from the eyes and eye movements following the object of interest. The task of tracking eye movements in dependence on a visual stimulus is useful primarily in medical diagnosis and therapy, followed by scientific research and industry. The eye camera - the system I4Control(R) is a modern technical product enabling tracking eye movements and measuring of the size of the pupil. The supplementary computer application, I4Tracking(R), stimulates such movements visually, records them and evaluates the data collected.

Explanation of principle terms in the field of microeconomics and macroeconomics in their relation including equations and grapsh