Academic literature on the topic 'Czech export bank'

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Journal articles on the topic "Czech export bank"

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Kašparovská, Vlasta, Jana Laštůvková, and Luboš Střelec. "Is the exchange rate a factor of bank liquidity changes? Study of the Czech Republic." Society and Economy 38, no. 3 (September 2016): 359–74. http://dx.doi.org/10.1556/204.2016.38.3.5.

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The effect of the exchange rate is often discussed in connection with economic performance, net export and inflation rate. Within the context of current discussions, we aim to examine the influence of the CZK/EUR exchange rate on changes in liquid assets in the Czech banking sector. The scope of our examination also covers the effects of GDP, CPI, one-month PRIBOR rate and the effects of ten-year government bond yield. The selected period is 2003–2014; monthly data taken from the CNB ARAD database is used. To verify the effect of the monitored variables on liquid assets in the Czech banking sector, we employed the regression analysis methods applied on financial and economic time series. The results show the effect of the CZK/EUR exchange rate and PRIBOR on changes in the liquid assets of Czech banks. The paper analyzes the identified causes and connections, and discusses possible consequences.
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KRIZEK, David, and Josef BRCAK. "Support for export as a non-standard Central Bank policy: foreign exchange interventions in the case of the Czech Republic." Eastern Journal of European Studies 12, no. 1 (2021): 191–218. http://dx.doi.org/10.47743/ejes-2021-0108.

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Shustek, Zbyshek. "Interesting documents on the convertibility of the Soviet currency during 1924 –1937." Ukrainian Numismatic Annual, no. 1 (December 21, 2017): 165–72. http://dx.doi.org/10.31470/2616-6275-2017-1-165-172.

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In the framework of the New Economic Policy (NEP) and the currency reform of 1922-1924 the USSR currency was introduced, which was fully convertible into gold. Actually, the reform was supposed to re-introduce the old gold currency, which was in circulation in the Russian Empire before the beginning of the WWI. New Soviet copper and silver coins had the same metrological parameters as the corresponding coins before the war. Banknotes were really convenient abroad duringr 1924-1927 years and freely exchanged for other currencies, but promised to free convertibility of banknotes for gold coins has never been implemented. The reason of that was the golden blockade of the USSR and the refusal to accept these coins in the West. For this reason, the old 10-ruble coins with the portrait of Tsar Nicholas II had to continue to be minted. However, there are also internal reasons which prevented the planned exchange rate of the gold coins. The regulatory quota for issuing government bills for 500 million gold rubles was soon exceeded twice, which triggered the development of inflation. On October 1, 1926, the free export of banknotes abroad was prohibited, and in 1928 – also free entry into the USSR. Thus, the free convertibility of the new Soviet currency was abolished, and the Soviet currency became only internal. In this article we review and analyze internal instruction, which stated quite openly that the promised guarantees on new bank notes convertible into gold is in reality only a tactical maneuver relatively to other countries. From August 1, 1926, free export of the Soviet currency was prohibited in foreign countries and in 1928 it’s import from abroad. The Soviet government at that time has made some effort to foreigners who were in the USSR and were carrying Soviet money legally, they can freely convert. At the same time, this effort can be seen as an indication of the responsibility of the Soviet authorities for those who in a very short time provided free convertibility of the Soviet currency. This is evident from the passports of Czechoslovak citizens who have been visiting the USSR for 30 years. Whether its owners are not in the USSR, they were close to Soviet entry visa with a special stamp, followed by the Czech text: "Import and transfer of Soviet currency on the territory of the USSR provided to August 1, 1926". From the results obtained to date from the old passports it is not clear how the Soviet embassy began to give these stamps in the passports. Trips in the USSR were quite rare for foreigners in the interwar period. Exchange of foreign currencies in the USSR was very unprofitable for foreigners in the second half of the 1930's. However, the amount of the money received in rubles, had a much lower purchasing power than the equivalent amount in exchange currency abroad. Accordingly, in the Polish border areas of the USSR, the Soviet currency was offered much cheaper on the black market. But modern authors have noted that any purchase of Soviet money was very risky, as black markets were well controlled by the Soviet secret services. Consequently, all these documents show that the Soviet currency was very uncertain in the interwar period.
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Mirdala, Rajmund. "Interest rate transmission mechanism of monetary policy in the selected EMU candidate countries." Panoeconomicus 56, no. 3 (2009): 359–77. http://dx.doi.org/10.2298/pan0903359m.

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The stable macroeconomic environment, as one of the primary objectives of the Visegrad countries in the 1990s, was partially supported by the exchange rate policy. Fixed exchange rate systems within gradually widen bands (Czech Republic, Slovak Republic) and crawling peg system (Hungary, Poland) were replaced by the managed floating in the Czech Republic (May 1997), Poland (April 2000), Slovak Republic (October 1998) and fixed exchange rate to euro in Hungary (January 2000) with broad band (October 2001). Higher macroeconomic and banking sector stability allowed countries from the Visegrad group to implement the monetary policy strategy based on the interest rate transmission mechanism. Continuous harmonization of the monetary policy framework (with the monetary policy of the ECB) and the increasing sensitivity of the economy agents to the interest rates changes allowed the central banks from the Visegrad countries to implement monetary policy strategy based on the key interest rates determination. In the paper we analyze the impact of the central banks' monetary policy in the Visegrad countries on the selected macroeconomic variables in the period 1999-2008 implementing SVAR (structural vector autoregression) approach. We expect that higher sensitivity of domestic variables to interest rates shocks can be interpreted as a convergence of monetary policies in candidate countries towards the ECB's monetary policy.
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Ostrý, Svatopluk, Ivana Štětkářová, Jaroslav Korsa, and Josef Bednařík. "Czech Neurological Society ČLS JEP expert opinion for primary care management of acute low back pain." Medicína pro praxi 17, no. 5 (January 5, 2021): 346–51. http://dx.doi.org/10.36290/med.2020.064.

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Eilifsen, Aasmund, W. Robert Knechel, and Philip Wallage. "Application of the Business Risk Audit Model: A Field Study." Accounting Horizons 15, no. 3 (September 1, 2001): 193–207. http://dx.doi.org/10.2308/acch.2001.15.3.193.

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After confronting unprecedented challenges in the last decade, accounting firms have undertaken extensive effort to improve the basic financial statement audit and to expand external assurance beyond the traditional audit. The re-examination of audit methods has produced a new emphasis on assessing business and process risks in the conduct of an audit. This paper describes the fundamental changes in the audit process and examines their impact in an actual engagement. We first identify outcomes that we expect to observe in an audit based on the business risk model and then study an actual engagement to gather preliminary evidence about our expectations. The engagement used in this study is the 1997 audit of the Czech bank Cˇeskoslovenska´ Obchodni´ Banka (CˇSOB). Important observations about the new audit process included changes to the audit team structure, changes in administration and timing of the engagement, changes in the risks addressed during the audit and the evidence gathered, increased assurance to the client, and increased opportunities for value-added services. Although the generalization of results from a field study is constrained, this study identifies expectations and effects that can be examined in future larger sample studies.
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Bera, Mohan Kumar, and Petr Daněk. "The perception of risk in the flood-prone area: a case study from the Czech municipality." Disaster Prevention and Management 27, no. 1 (February 5, 2018): 2–14. http://dx.doi.org/10.1108/dpm-01-2017-0004.

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Purpose The purpose of this paper is to explore the risk perceptions and activities of people to reduce impacts of disaster. Design/methodology/approach Case study research has been conducted in village Podhradí nad Dyjí in the Dyje river basin in Czech Republic. Villagers from different age groups, experts, NGO members have been interviewed to understand people’s perceptions of flood risks and their actions. Findings The research has found that changing flood insurance policy influenced people’s risk perception. There is also increasing self-dependency among people to reduce impacts of disaster. They come together to support each other and develop collectivities in managing disaster. People’s actions and willingness to participate in disaster management activities change with distance from the river bank. Research limitations/implications The village identified for the case study research has been affected by floods after implementation of the Crisis Management Act No. 240/2000 Coll. The findings of the study are influenced by geographical location of the municipality and cannot be generalised in the Czech Republic. Practical implications The research has listed physical as well as socio-economic and cultural indicators of risk perception in the Czech Republic. These indicators and outcomes should help to assess and identify the gaps in reducing impacts of floods. Originality/value The study has revealed the interconnection between physical, socio-economic, and cultural factors of risk perception after implementing the Crisis Management Act No. 240/2000 Coll. and changing strategies in disaster management in the Czech Republic.
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Ostrý, Svatopluk, Ivana Štětkářová, Jaroslan Korsa, and Josef Bednařík. ""Czech Neurological Society CMA JEP expert opinion for primary care management of acute low back pain in adults"." Česká a slovenská neurologie a neurochirurgie 83/116, no. 6 (December 31, 2020): 659–66. http://dx.doi.org/10.48095/cccsnn2020659.

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Mohr, P., and I. Tuma. "Compulsory Hospitalization, Involuntary Treatment and Guardianship in Czech Republic." European Psychiatry 24, S1 (January 2009): 1. http://dx.doi.org/10.1016/s0924-9338(09)70396-7.

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The Czech law related to compulsory hospitalization dates back to 1966, but it has been revised several times. Besides having mental illness as a criterion for compulsory admission, the law requires the criterion that the patient may only be committed to the hospital, if he is an acute danger to himself and/or others. The Czech law does not accept the criterion that patient may be committed, if there is a danger to his health or if his behavior is not accepted to the community. The law does not specify the type of psychiatric illness required for a person to be committed. A patient admitted voluntarily to a psychiatric ward can be subsequently detained if he fulfilled the criteria of the law. The psychiatrist must examine the patient, decide and apply for commitment. The court has to be notified of compulsory admission in period of 24 hours. The detention is decided by judge in seven days. The detention could last up to 3 months then should be reevaluated by court. Appeals or complaints regarding compulsory acts are referred to the court by guardian or patient himself. A competence proceeding and the appointment of a guardian is considered in the case of demented, retarded, and in some cases of psychotic people. At issue is whether such people are capable of managing their own affairs, to make sound judgment-to weigh, to reason, and to make reasonable decision. Incompetence is decided by judge. Expert psychiatric witnesses play a role in determining the level of incompetence. The court appoints a guardian.
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Tostões, Ana, Ivo Hammer, and Zara Ferreira. "The Re-birth of the Tugendhat House." Heritage of Mies, no. 56 (2017): 44–55. http://dx.doi.org/10.52200/56.a.pn6s7pfn.

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Following a thorough and pioneering conservation-science study, the Tugendhat House was restored between 2010 and 2012. The house of Greta and Fritz Tugendhat, in Brno, designed by Mies van der Rohe and Lilly Reich (1928-1929), is the single example of modern architecture in the Czech Republic inscribed in the list of UNESCO World Cultural Heritage sites. After an intense and dramatic life with different uses, the house received an outstanding restoration which brought back its original form, space and materiality, and was opened to the public as a House-Museum. This paper aims to bring light to this fascinating story based on the book Tugendhat House. Ludwig Mies van der Rohle by Daniela Hammer-Tugendhat, Ivo Hammer and Wolf Tegethoff (Basel, Birkhäuser Verlag GmbH, 2015), namely on Daniela Hammer-Tugendhat statements and on the experience of the members of the International Expert Advisory Commission THICOM.
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Dissertations / Theses on the topic "Czech export bank"

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Potácelová, Věra. "Analýza úvěrové podpory poskytované ČEB." Master's thesis, Vysoká škola ekonomická v Praze, 2009. http://www.nusl.cz/ntk/nusl-11206.

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Export promotion via officially supported export credits and insurance is relatively widespread around the world. The thesis describes activity of Czech Export Bank (CEB) and mentions also its legal framework in Czech system of export promotion. Text contains pros and cons of export promotion. The main part of the thesis is panel data analysis using gravity equation. This panel data involves 130 countries in period of 1996 -- 2008 with data on export, export promotion, GDP, political risk and other variables. There is investigated impact of activities of CEB on Czech export using 2 gravity models (static and dynamic). In these models export promotion is significant factor with positive impact on Czech export.
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Gúth, Ondřej. "Institucionální podpora českého exportu." Master's thesis, Vysoká škola ekonomická v Praze, 2013. http://www.nusl.cz/ntk/nusl-196534.

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The aim of this paper is to describe the ways in which export promoting institutions work and what are advantages and disadvantages for domestic and foreign economies. By describing patterns of current Czech export it shows the reasons why should any country develop their institutions of export promotion.
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Ruszová, Kateřina. "Specifika vývozu investičních celků do Ruské federace financovaného ČEB a.s." Master's thesis, Vysoká škola ekonomická v Praze, 2013. http://www.nusl.cz/ntk/nusl-192479.

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The thesis presents specifics of the turn-key investment's export to Russian Federation financed by Czech Export Bank Plc. (the "CEB"). The aim of this thesis is to outline the general procedure applied in CEB towards export financing of turn-key investments, as well as to the Russian market. Furthermore, this thesis describes mutual trade relations between the Czech Republic and the Russian Federation, as well as possible difficulties that might occur during the export to Russia. Theoretical knowledge is reflected to the final case study describing the financing in form of the buyer's credit provided by CEB.
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Bobuská, Natálie. "Komparace podmínek exportního financování ČR a vybrané země na příkladu projektového financování." Master's thesis, Vysoká škola ekonomická v Praze, 2013. http://www.nusl.cz/ntk/nusl-192523.

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The aim of the thesis is to compare the conditions and procedures for granting export project financing between the Czech Republic and Sweden. The theoretical part includes three chapters. In the first chapter, I explain the nature and structure of the project finance. In the second chapter, I analyze the institutions providing export financing in the Czech Republic and their financial products that can be applied in this case. In the third chapter, I analogously analyze the system of export financing in Sweden. In the practical part, I show on the imaginary business case how the export project finance is realized by Czech export credit institution (CEB) on one side and the Swedish export credit institution(SEK) on the other. In conclusion, I summarize the similarities and differences resulted from the performed comparison.
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Šeović, Mirela. "Porovnání systémů státní podpory financování vývozu v České republice a Spojených státech amerických se zaměřením na Českou exportní banku a Export-Import Bank of the United States." Master's thesis, Vysoká škola ekonomická v Praze, 2013. http://www.nusl.cz/ntk/nusl-196548.

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This thesis presents a comparison of export support systems in the Czech Republic and the United States of America. The emphasis is put mainly on functioning of the system of state-supported export finance and subsequent presentation of two types of export credit institutions - Czech Export Bank, plc. and Export and Import Bank of the United States. Both institutions are described in the theoretical part. In the practical part the theoretical knowledge is applied in a fictional business case.
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Neradová, Hana. "Exportní politika České republiky." Master's thesis, Vysoká škola ekonomická v Praze, 2010. http://www.nusl.cz/ntk/nusl-74035.

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The aim of this thesis is to introduce export policy of the Czech Republic, the institutions, which offer support to exporters and to describe their services. One of the chapters focuses on The Export strategy of the Czech Republic for years 2006-2010, its projects and fulfilment in year 2010. The end of this thesis includes some possible improvements in system of the export support.
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Noswitz, Lucie. "Financování vývozu investičních celků se státní podporou." Master's thesis, Vysoká škola ekonomická v Praze, 2009. http://www.nusl.cz/ntk/nusl-77391.

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In the thesis is presented export financing of turn-key deliveries with state support in the Czech Republic. Emphasis is placed on two important characteristics of financing products - export buyer's credit and project financing. The above mentioned products are considered as financing instruments provided by the state institution established to support export transactions of domestic exporters. The practical demonstration of the theoretical part of the thesis is a case study, which focuses on financing the implementation of the transhipment port terminal grain in Ukraine.
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Buchlová, Helena. "EFEKTIVNOST ROZVOJOVÉ SPOLUPRÁCE VE SROVNÁNÍ S PODPOROU OBCHODU: možnosti zkvalitnění pomoci zapojením České exportní banky." Master's thesis, Vysoká škola ekonomická v Praze, 2011. http://www.nusl.cz/ntk/nusl-113734.

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This thesis concentrates on the examination of the effectiveness of development assistance and its comparison to the effectiveness of the integration of developing countries into foreign trade. The main aim of this study is to determine, whether the effectiveness of development assistance could be increased through closer interconnection with trade support. Consequently, the possibilities of the Czech Export Bank's participation in such arrangements are examined. The dependence of gross domestic product, gross national income per capita and life expectancy at birth on the amounts of development aid received and on the openness of development economies is measured by Pearson's coefficient of correlation and subsequently compared. All indicators were obtained from the databases of the OECD and the WB. The results showed a much more positive connection between openness and the factors examined than they did for the correlation between the amounts of the development aid received and the same indicators. The investigation in the Czech Export Bank revealed various opinions, it certified, however, that a closer connection between development assistance and the business sphere can be advisable. The support of the integration of developing economies into international trade was proven to be effective in a long run and the resources of development assistance should be used to establish the necessary technological and theoretical background to make it happen.
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Erbenová, Jana. "Exportní potřeby malých a středních podniků versus podpora státu." Master's thesis, Vysoká škola ekonomická v Praze, 2010. http://www.nusl.cz/ntk/nusl-74346.

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For such a small open economy as is the case of the Czech Republic, export is one of the key growth factors. Further, small and medium sized enterprises are very efficient tool of the economic stability. Government should therefore analyse and fulfil export needs of those entrepreneurs. There is actually no questin about importance of government assistance. Most of the developed countries already help their small and medium enterprises. Ignoring this fact could lead to the reduction of the competitive strength of Czech companies. The diploma thesis analyses the export needs of those firms and compares them with the government assistance programs. Theoretical part is focused on definition of this entrepreneur's category, describes assistance frame and analyses the influence of export on the Czech economy. Practical part deals with individual export assistance programs and analyses the export needs of Czech exporters based on several surveys. The last part of the diploma thesis compares the Czech government assistance with the assistance that foreign countries provide their entrepreneurs with. The final recommendations regarding the possibilities of increase in the efficiency of the government assistence are included in the last chapter.
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Smola, Filip. "Vybrané aspekty hospodářských vztahů Evropské unie a Čínské lidové republiky na prahu 21. století a jejich reálný dopad na světovou ekonomiku." Master's thesis, Vysoká škola ekonomická v Praze, 2014. http://www.nusl.cz/ntk/nusl-205068.

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The main aim of this dissertation is to analyze selected economic activities and economic relations occurring between the European Union and China. This dissertation is divided into four main chapters to ensure coherence and continuity throughout the research. The first chapter deals with the historical development of mutual cooperation between Europe and China. This chapter emphasizes recent events. The most extensive part of this work, the second section, addresses key areas of cooperation between the EU and China. Most of the research focus is devoted to trade economic relations and investment relations. Further, the second chapter addresses controversial areas within the mutual EU-China relations. In contrast with the second chapter, which looks at the mutual relations from the perspective of the whole EU, the third chapter distinguishes bilateral relations between two EU countries and China. The purpose of the third chapter is therefore to highlight the different approach of individual EU member countries. In the last chapter, I try to assess the growing influence of both the EU and China within the global economy. Finally, I outline the possible future development of the research topic.
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Book chapters on the topic "Czech export bank"

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Pannia, Paola. "Tightening Asylum and Migration Law and Narrowing the Access to European Countries: A Comparative Discussion." In IMISCOE Research Series, 49–71. Cham: Springer International Publishing, 2021. http://dx.doi.org/10.1007/978-3-030-67284-3_3.

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AbstractThis chapter aims to explore and analyse the tangled interplay of political discourses, policies and legislations in the field of asylum and migration that runs across the countries under scrutiny (the Czech Republic, Denmark, Finland, Greece, Italy, Switzerland and the UK, hereinafter SIRIUS countries). Building on empirical evidence, we highlight some main trends registered across SIRIUS countries: the narrowing and slowing down of access to international protection that results from the recourse to push-back operations and the construction of fences, but also procedures provided by the EU asylum acquis, such as the accelerated procedure. This restraining tendency is even more acute in the field of economic-related migration, where in most of the SIRIUS countries legal entry channels are mostly reserved for those who are considered eligible due to their economic resources or talent, such as high-skilled workers, investors or rich entrepreneurs. These restrictive measures often rely on narratives that question the sincerity of the asylum claim, and criminalise migration and humanitarian assistance. Meanwhile, legislative landscapes on migration and asylum are increasingly populated by symbolic laws, which downgrade foreigners’ rights and weaken standards. Their explicit aim is to dissuade migrants from coming to the country, while catering for natives’ fears and responding to domestic electoral consensus-building.
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"All in all, the CISG has met with resounding acceptance around the globe. Today, the CISG counts 67 Contracting States among its members, covering more than 70 per cent of global trade and production of goods; of the 50 leading exporters and importers in world merchandise, over 60 per cent are Contracting States to the CISG. Of those large industrial nations that are not yet Contracting States to the CISG, notably the UK, Japan and Korea, both internal and external pressure to ratify is rising. Currently, approximately 1,300 court and arbitral decisions decided under the CISG have been handed down from 32 judicial instances, and more than 6,500 academic publica-tions exist in 24 languages. This is in addition to the numerous conferences and other forms of academic discourse dealing with the Convention, most notably the CISG Advisory Council, a global body of CISG and international sales law experts that meets on a regular basis to discuss the significant developments in the field of international sales law and aims at promoting the uniform interpretation of the CISG. Perhaps the most tangible success of the CISG can be seen in the number of domestic sales laws that have used it as a model. Notably, many Scandinavian countries have used the CISG as the background for the modification of their domestic sales laws, as did Germany in its 2002 Schuldrechtsreform (Revision of the Law of Obligations) and The Netherlands in drafting the Law of Obligations in the Wetboek (Civil Code). Furthermore, many of the former Socialist states in Eastern Europe, including Estonia, the Czech Republic and Croatia, are also basing the re-development of their private and domestic sales and com-mercial laws on CISG concepts. Completing the CISG’s global impact is the reform of the Chinese private law. The New Code of Obligations of China has adopted many legal concepts and institutions promulgated in the CISG and the drafters have confirmed using the CISG as a source of inspiration in this regard. In addition, not only domestic sales laws, but also, increasingly, regional and inter-national principles are availing themselves of CISG principles to guide their drafting. The general approach of the Principles for International Commercial Contracts drafted by UNIDROIT (the UNIDROIT Principles) and the Principles of European Contract Law, which are intended to pave the way for a European or an international law of contract, can be traced back to the CISG. The same is true of the European Directive on Consumer Sales, which mirrors the concepts of conformity and non-conformity set out in the CISG. Furthermore, the OHADA, a union of 16 African states, has adopted a common sales law, which follows the CISG almost to the letter. Efforts at unification of the law are often met with the criticism that the unique peculiarities and historical variety of local laws are thereby ‘bulldozed’ by an all-consuming ‘international’ law. This is not the intention of the CISG. It certainly aims to provide a certain, uniform and consistent basis for defining the scope and obligations of international sales contracts for those states that have declared their intention to be bound by it. Moreover, the CISG serves as a stimulus for the development, revision and interpretation of domestic laws, under consideration and in awareness of genuine international concepts, which can only be of benefit to the states concerned." In International Sales Law, 62–63. Routledge-Cavendish, 2007. http://dx.doi.org/10.4324/9780203945445-29.

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Conference papers on the topic "Czech export bank"

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Pitel Welnitz, Daniela, Tomas Vlach, Luca Lombardi, Pierre-Jean Faltot, Philippe Vertenoeuil, and Michele D’Ercole. "Validation of CFD Analyses Results With Instrumented Ground and Flight Tests Measurements of an Aerobatic Turboprop Aircraft Inlet." In ASME Turbo Expo 2019: Turbomachinery Technical Conference and Exposition. American Society of Mechanical Engineers, 2019. http://dx.doi.org/10.1115/gt2019-91689.

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Abstract With the onset of affordable high-performance computing and cloud computing technologies, numerical methods like computational fluid dynamics and the finite element method are spreading to all the branches of industry. The ability to perform such analyses allows engineers to speed up development and refine designs even in early stages of development without the need for expensive experimental setups. However, it is desirable to build up confidence in these results by experimental validation. GE Aviation Czech has been extensively using a variety of CFD tools to predict flow behavior in the field of internal aerodynamics — especially for design of compressor and turbine stages, combustion chambers, inlet and exhaust systems. Development of a new aerobatic engine prototype and its installation is currently under way. A series of back-to-back analyses conducted to verify performance of the aerobatic inlet and compare it with a reference commuter engine installation. The results were presented in article “GT2018-76398 Analysis and Testing of an Aerobatic Turboprop Aircraft Inlet”. A variety of critical parameters such as ram factor, pressure losses, inlet heating, and engine inlet pressure and temperature distortions were investigated. These parameters affect engine performance, operability, and compressor stability. Afterward, a unique instrumentation, data acquisition chain, and test program was developed in cooperation with the airframer. This made it possible to record all of the required parameters during ground and flight tests, including basic aerobatic maneuvers. The recorded data was then used for validation of performed CFD analyses with boundary conditions matching the conditions of ground and flight tests. Confidence in CFD results backed up by well-matched test data allows to conduct future design changes without the need to perform additional expensive experimental trials.
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