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Welcome to EC 209: Managerial Economics- Group A By: Dr. Jacqueline Khorassani

Welcome to EC 209: Managerial Economics- Group A By: Dr. Jacqueline Khorassani. Study Guide Week Eight (Note: You must go over these slides and complete every task outlined here before Thursday, October 25). Don’t forget that. Aplia Assignment Is due on Tuesday before 5 PM.

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Welcome to EC 209: Managerial Economics- Group A By: Dr. Jacqueline Khorassani

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  1. Welcome to EC 209: Managerial Economics- Group ABy:Dr. Jacqueline Khorassani Study Guide Week Eight (Note: You must go over these slides and complete every task outlined here before Thursday, October 25)

  2. Don’t forget that • Aplia Assignment • Is due on Tuesday before 5 PM. • Don’t miss it.

  3. This week: You will need to study • Papers by Jensen (required) and Gibbons (optional) • Available on Blackboard; • Chapters 6 (including the appendix) & 7 of Baye

  4. What are the implications of specialized investments? • How do specialized investments relate to contract length? • What is Williamson’s Analysis?

  5. What is the Principal-Agent Problem? • Solutions • Internal/external incentives • What is the indifference curve approach to managerial incentives? (appendix of Chapter 6) • What are the profit sharing schemes and how do they work? • How can the problem between managers and workers be solved? • What are the managerial incentive schemes? (Jensen’s paper)

  6. Chapter 7 of Baye • What is market structure? • What are the major structure variables? • What is the Four-Firm Concentration Ratio? • What is the Herfindahl-Hirschman Index (HHI)? • What are the limitations of concentration measures? • What is the Rothschild Index? • What is the Lerner Index? • What are the barriers to entry? • What is the markup factor? • What is the Dansby-Willig Performance Index

  7. Integration and Merger Activity • What is Vertical Integration? • What is Horizontal Integration? • What is Conglomerate Mergers?

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