ISE2014_Class11

ISE2014_Class11 - Class 11 Project Evaluation ISE 2014...

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Click to edit Master subtitle style Class 11 – Project Evaluation ISE 2014 Fall 2010
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Exam Feedback What did you think?
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Time to Transition Everything up to Exam 1 Introducing tools Mastering their use Everything after Exam 1 Applying tools to decision-making
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What Kind of Decisions? Should we pursue this project? Is it profitable? Is it profitable enough? Which of these projects should we pursue? Which is most profitable?
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Should We Pursue This We’ll start here for the next week or two We are going to use the exact same tools you just studied We’re basically asking whether the equivalent value is positive Equivalent Value Positive I Profitable Equivalent Value Negative g Unprofitable
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Should We Pursue This What if we change the question slightly: Is this project profitable enough ? Just because money is made doesn’t mean everyone is satisfied Lets try an experiment and see if we can test this…
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Game Theory This is a classic experiment from game theory Two students are going to play our game A box of cookies is on the line The first student must choose a method of splitting the cookies between them The second student can accept or reject this
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This note was uploaded on 02/28/2011 for the course ISE 2014 at Virginia Tech.

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ISE2014_Class11 - Class 11 Project Evaluation ISE 2014...

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