Research Topic
VCG Mechanism
Demand Revelation
Suppose 3 roommates are discussing whether to buy a
common TV or not. Or say 10 neighbors from a cul-desac are discussing whether to have a night watch man or
not.
In this can each roommate or neighbor will
17160128 | Ruheen Adatia
Process
Order
1 mins
Place
ingredients
in Mixer +
Mix
6 mins
Spoon
cookies
2 mins per
tray
Place
cookies
in Oven
Cookies
bake
10 mins
Accept
Pack
in a
Cool
cookies
Payment
dozen
5 1mins
min
2 mins
1. Total time for a batch : 27 mi
Gantt chart template for Kristen's Cookies
Time (min.)
1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26
Labor
You
Roommate
Other resources
Professional Mixer
Oven
6 mins
30 mins
Activities
Place an orde1 min
Adding Ingredients/Mix6 min
17160128 | Ruheen Adatia
Process
Order
1 mins
Place
ingredients
in Mixer +
Mix
6 mins
Spoon
cookies
2 mins per
tray
Accept
Payment
1 min
Place
cookies
in Oven
Pack in a
dozen
2 mins
Cookies
bake
10 mins
Cool cookies
5 mins
1. Total time for a batch : 27
m
Strategy
Return (R)
with Bad
Luck
Return (R)
Prob. of Bad
with Good
Luck
Luck
Prob. of
Good Luck
Expected
Return
Variance
A
4
0.8
9
0.2
5
4
B
5
0.3
8
0.2
3.1
5.885
C
2
0.4
10
0.2
2.8
10.624
D
4
0.7
8
0.2
4.4
2.704
Standard
Deviation
2
2.425901894
3.259447
Class 23: Externalities; Review
Announcements:
1. Assignments: Average over Sections 101-102 = 79.
2. Final Exam on Friday, December 18 at 8:30 am in SRC.
3. Tutorials:
i. Dec. 15, 12:00 1:30 HA 234 (Suzanne)
ii. Dec. 16, 3:00 4:30 HA 295 (Sherry)
iii. De
COMM/FRE 295
Estimation II
Week 2, Lecture 2 (September 16, 2015)
Professor Jim Vercammen
Vercammen
COMM/FRE 295
Clicker Question 1
Suppose inverse demand is given by P = 20 2Q
(a) The slope of the regular demand curve changes as we
move along the curve.
Long Answer Questions for COMlVI/FRE 295 (106) Final Exam (2009) Review
Session 7 '
1. Consider a monopolist selling to two groups of consumers.
(a) List two conditions that are necessary for the monopolist to
engage in price discrimination.
(b) When all
COMM/FRE 295
Estimation
Week 2, Lecture 1 (September 13, 2015)
Professor Jim Vercammen
Vercammen
COMM/FRE 295
Overview of this Lecture
Today we will focus on using linear regression to estimate
a linear demand schedule and a demand elasticity.
Economists
Commerce 295/FRE 295
Fall 2015
Assignment 2
Assigned: Nov. 9/10.
Due: Nov. 25/26/27.
There are 10 questions. Each question is worth 10 pts. Show your working. Unless otherwise
stated each part of each question is worth 5 pts.
1. Oligopoly and Cartels
a) R
Commerce 295/FRE 295
Fall 2015
Assignment 1 Answers
Assigned: Sept. 21.
Due: Oct. 7.
1. Introduction and Supply and Demand
a) Classify each of the following statements as positive or normative. Circle the correct answer and
provide a short explanation on
Commerce 295/FRE 295
Fall 2015
Assignment 1
Assigned: Sept. 21/22.
Due: Oct. 7/8.
Instructions:
1. Commerce 295 is a large, closely coordinated, multi-section course. It is necessary to be strict
about rules regarding the assignment. Otherwise, marking an
Answers to October 2015 Commerce 295 Midterm
Multiple Choice: Answers shown in bold with asterisks *
1. Which of the phenomena listed below is consistent with the following diagram showing a shift of the
demand curve from D0 to D1? The good is a normal go
Topics Examined
COMM/FRE 295
Decision Making Under Uncertainty
November 4, 2015
14.1 14.3
Uncertainty
No Camera
Probability
Expected value
Variance and standard deviation
Expected utility
Marginal utility and risk aversion
Certainty equivalent and risk pr
COMM
MERCE 295 Manageri Economics Fall 2015
5:
ial
C
Course Outlin
ne
COUR
RSE INFORM
MATION
Divis
sion: Strateg and Bus
gy
siness Econ
nomics
Instructor: Jame Vercamm
es
men
U
UGO Suppo Ines Bile
ort:
ec
james
s.vercamme
en@sauder.u
ubc.ca
c
comm295@
@sa
COMM/FRE 295
Organization of the Firm
September 23, 2015
Readings/Homework
Sections 7.1 7.3 of the text
Assignment 1 was posted on Sept 21 (you will have
until October 7th to complete it)
Start on it soon it is long and challenging!
Topics
Alternative
COMM/FRE 295
Sept. 28, 2015
Competitive Firms and Markets
Sections 8.1 8.4
Topics Examined
Derivation of a short run supply schedule for a
competitive firm, including shut-down point
Shut down point in the long run
Market supply schedule
Long run equi
COMM/FRE 295
Estimation II
Week 2, Lecture 2 (September 16, 2015)
Professor Jim Vercammen
Vercammen
COMM/FRE 295
Clicker Question 1
Suppose inverse demand is given by P = 20 2Q
(a) The slope of the regular demand curve changes as we
move along the curve.
COMM/FRE 295
September 21, 2015
Production and Cost
(Review)
Readings/Homework
Production: Sections 5.1, 5.2 and 5.4 of the text
Cost: Sections 6.1 and 6.2 of the text
Assignment 1 has been posted to Prof
Vercammens website
You will have until October
COMM/FRE 295
Estimation
Week 2, Lecture 1 (September 13, 2015)
Professor Jim Vercammen
Vercammen
COMM/FRE 295
Overview of this Lecture
Today we will focus on using linear regression to estimate
a linear demand schedule and a demand elasticity.
Economists
COMM/FRE 295
September 9, 2015
Demand, Supply and Elasticity
Demand and Supply Schedules
Demand typically depends on own price, other prices
(e.g. price of substitute, Ps) , income (I) and tastes
Qd = a bP + cPs + dI
Tastes and preferences are embedded
Advertise Sales
1
7
5
8
8
9
6
4
2
In this first exercise we use linear
regression to examine how
advertising (explanatory variable)
affects sales (dependent variable)
4
12
10
14
16
16
12
8
6
Sales = a + b*Advertise + e
Linear Regression. Use Advertising a
COMMERCE 295: Managerial Economics Fall 2015
Course Outline
COURSE INFORMATION
Division: Strategy and Business Economics
Instructor: James Brander
UGO Support: Ines Bilec
james.brander@sauder.ubc.ca
comm295@sauder.ubc.ca
HA 263; 604-822-8483
604-827-3172
Commerce 295 - Midterm Answers
October 27, 2010
PART I
MULTIPLE CHOICE QUESTIONS
Each question has one correct response. Please circle the letter in front of the correct
response for each question. There are 20 questions. Each question is worth 2 pts.
1.
UBC
Commerce/ FRE 295
MIDTERM EXAM ANSWERS
October 26, 2009
NAME:
STUDENT NUMBER
SECTION:
PROFESSOR’S NAME:
Instructions: This exam will be marked out of 100. You will have 1 hr. and 45 minutes to do the
exam. There are two parts to this exam. The fir
COMM/FRE 295
Midterm Answers — Oct. 26, 2011
Multiple Choice Questions: (Correct answers are shown with asterisks and in
bold.)
1.
You have just taken a new job in the electronics industry. Your boss comes to
your desk and informs you that the price of ce