Errors Costs
3 Economic Discussions, Need 250 words Initial Post and two replies., I will attach the replies later.
Week 6 Discussion Context In your Managerial Economics textbook, we consider a sequential-move game in which an entrant is considering entering an industry in competition with an incumbent firm (see Figure 15-1).
There are several possibilities of how this sequential game will be played. We want to use the Froeb rule of “look ahead and reason back.” Instructions For your discussion post, use Figure 15-1 from the textbook as your starting point to address the following: Can, and how does, the entrant succeed? Is the incumbent ever in control of this game?
You may wish to review the old game known as Duopoly, as well as Antoine-Augustin Cournot, to help inform your post. Note: In your discussion posts for this course, do not rely on Wikipedia, Investopedia, or any similar website as a reference or supporting source.
To earn full credit for your discussion, you must complete one post and one follow-up or reply to a classmate. Make sure both the post and the reply focus on the questions asked.
Week 7 Discussion Context This week’s discussion focuses on decision error costs with regard to hiring new talent. Use the provided scenario as a basis to inform your post on decision-making impacts and Type I and Type II errors. Instructions The HR department is trying to fill a vacant position for a job with a small talent pool.
Valid applications arrive every week or so, and the applicants all seem to bring different levels of expertise. For each applicant, the HR manager gathers information by trying to verify various claims on résumés, but some doubt about fit always lingers when a decision to hire or not to hire is made.
For your discussion post, address the following within the context of the scenario: What are the Type I and Type II decision errors costs? Which decision error is more likely to be discovered by the CEO? How does this affect the HR manager’s hiring decisions?
Note: In your discussion posts for this course, do not rely on Wikipedia, Investopedia, or any similar website as a reference or supporting source.
To earn full credit for your discussion, you must complete one post and one follow-up or reply to a classmate. Make sure both the post and the reply focus on the questions asked.
Week 8 Discussion Context For this discussion, your focus will be to think through what asymmetric information, moral hazard, and adverse selection have to do with hiring a police officer.
Instructions Consider the following statement: Many police officer positions require the applicant to have a college degree even though the tasks of a police officer rarely call upon college course material.
In your discussion post, address the following: Speculate on why police departments do not increase their applicant pool by dropping this requirement and how asymmetric information, moral hazard, and adverse selection are involved?
Note: In your discussion posts for this course, do not rely on Wikipedia, Investopedia, or any similar website as a reference or supporting source.
To earn full credit for your discussion, you must complete one post and one follow-up or reply to a classmate. Make sure both the post and the reply focus on the questions asked
