Questions for Critical Thinking 5 Salvatore’s Chapter 10: Discussion Questions: 2 (a) The advantages of the Herfindahl index over concentration ratios is that the former uses information on all the firms in the industry‚ not just information on the market share of the largest 4‚ 8‚ or 12 firms in the industry‚ and gives a larger weight to the larger firms in the industry. (b) The disadvantage of concentration ratios and the Herfindahl index is that for the reasons indicated in Case Study
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1. What did you observe in inventory and back order levels when you play the game in uncoordinated and coordinated modes? What are the underlying reasons for the problems associated with uncoordinated decision-making? Based on the results you found in the previous part‚ list the potential benefits of coordination. (max 0.75 page) 2. What are the steps companies can take in order to reduce the problems associated with uncoordinated decision-making? Discuss also the potential implementation issues
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second; or B1 in the first and B2 in the second. It is an assumption in decision theory and economic theory that people behave rationally‚ but is this the same as consistency? Consistency means a decision maker who is consistent reached the same estimate for the recurrence of some event whatever method of assessment is used. The main point Allais wished to make is that the independence axiom of expected Utility theory may not be a valid axiom. The independence axiom states that two identical outcomes
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made‚ assess a specific decision (or group of related decisions) which explains the performance outcome. Include a discussion of the underpinning theoretical frameworks you either used‚ or could have used‚ to assist your decision making. Did the theory support the decision‚ or mislead you‚ and why?
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The Sanctions Debate and the Logic of Choice/Diplomacy (David Baldwin) Sanctions are understood to be one policy option for influencing other states. (N.B other options include: diplomacy‚ propaganda‚ military force‚ do nothing) This article highlights the need to distinguish between: 1) Whether sanctions “work” (are they effective?) 2) Whether they should be used It is not enough to discuss the disadvantages of implementing sanctions‚ rather one should go one step further in discussing
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and 2 in particular from weeks 4 to 7 and the following audios may have some relevance; Evidence in the social sciences‚ Making connections: ‘economics and politics’ and Reflections on ‘Material Lives’. Also make references to positive-sum game and zero-sum game. Conclusion:- Draw from the body of the assignment and refer to the question to conclude what I have learned and why this is. Remember no more than 1250 words – this does not include the plan. Mind maps on who are the winners and
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A Simple Exploration of Bounded Rationality by Susan Fisk “Psychological theories of intuitive thinking cannot match the elegance and precision of formal normative models of belief and choice‚ but this is just another way of saying that rational models are psychologically unrealistic.” -Daniel Kahneman Sit back and imagine that the United States is preparing for the outbreak of an unusual disease‚ which is expected to kill 600 people. Two alternative programs to combat the disease have
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Phase 2 Individual Project INTD670-1303A-01 Scenario Joe Smith a sales representative is one of Tom Tramlins top people in sales for UWEAR and PALEDENIM. Bill Bateman the CEO of the Peninsula Hotel chains met with Joe through Tom through the last contract and is meeting with him again to discuss the renewal of the contract for supplying uniforms for their employees at the hotel. Joe has become good friends with Bill and his wife and have received many perks since the last signing of the contract
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What are the two business paradigms? Within the business disciplines‚ we are fortunate to have two major paradigms (schools of thought): rationalist and behavioralist. An ideological/theoretical conflict has existed between the two paradigms for over 50 years. Is human decision behavior more consistent with the rationalist models or behavioralist models? Behavioral finance has grown out of this conflict and will likely result in the resolution of the conflict as time passes. What is a
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Cited: Employee Motivation. (2012). Retrieved November 12‚ 2012‚ from Accel Team Development: http://www.accel-team.com/motivation/ Theories of Motivation. (2012). Retrieved November 12‚ 2012‚ from About.com Psychology: http://psychology.about.com/od/psychologytopics/tp/theories-of-motivation.htm Communication. (n.d.). Retrieved October 8‚ 2012‚ from Merriam-Webster: http://www.merriam-webster.com/dictionary/communication Miller‚ F. (n.d.). Disadvantages
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