EXAM 4 ECONOMICS & BUS. HISTORY Lecture Notes Minimum WageDclass- Fallen or lowered in class, rank, or social position Industrial proletariatSherman Anti-trust act- as the first United States federal government action to limit monopolies. Clayton act
Discussion Starters The Parable of the Sadhu
1. Why does Stephen believe that what happened with the sadhu is a good example of the
breakdown between the individual ethic and the corporate ethic?
2. Stephen and Buzz (the author) have a dialogue about the
Discussion starters: Parmalat
1. When and why did Parmalats financial problems start?
2. How did Parmalats strategy contribute to its problems?
3. What impact did changing external environments (political and economic) have on Parmalats
problems and on it
BLUE BELL: The Cream Rises to the Top
By Naveen Inampudi and Debbie Z. Harwell
E. F. Kruse changed the
name of the company
to reflect the purity and
freshness of his favorite
2 Houston History Vol. 9 No. 2
Blue Bell inspires an image of caring
- strategically stable. no incentive to deviate
- mutual best response
- NE: ex ante beliefs are correct ex post
Dominant and Dominated Strategies
IEDS (weakly dominated strategy)
Chs 3, 4, 5,3 ,6; PS 1-3, Class Notes up to today's class
Sequential Move Games
Extensive Form (game trees)
Strategy: COMPLETE PLAN of ACTION
Rollback (backward induction) equilibrium.
Equilibrium (strategies) versus outcome (path and payoffs)
Mixed Strategies in Non-zero Sum Games
Two pure strategy Nash equilibria: (Penland, Penland) and
Now suppose we allow mixed strategi
Discussion starters for Flying Cheap
Prepare initial answers to the following questions. You may be called upon to present or submit one or
more of them as part of daily class activities.
1. The narrator in Flying Cheap refers to his understanding, based