14.271  Industrial Organization I

Slides for recitation uploaded & final exam

I uploaded the slides that I used in today's recitation in "Materials > finals > final review" on the stellar.

There is a question whether the revenue equivalence theorem holds when the value distribution is non-identical. The answer is it does NOT in general. This is because in the first price auction with non-identical value distribution, it is not guaranteed that the bidder with the highest bidder gets the good (so the assumption (1) in slide 15 of my slides is not satisfied). This can be easily checked by observing that how much lower each bidder bids than their true valuation varies across bidders, so in some cases a bidder with higher valuation might bid lower than the opponent. I apologize for not being clear about this in the recitation.

I wish you a good luck in the exam (it is 9am-12 in E17-133 on 12/15, Monday). I will leave Boston tomorrow, but please feel free to send me an email if you want to ask anything, and I will try to answer as quickly as possible. On Monday my friend Ernest will be proctering you for the exam. Good luck!

Best,
Yuhei

Announced on 12 December 2014  3:50  p.m. by Yuhei Miyauchi

Recitation 10 (12/12)

Tomorrow I will review the materials that is covered after the midterm. (But note that the final exam will also include the materials before the midterm.)

I apologize for not making an announcement on this, but I have uploaded past finals on the stellar. Please take a look at them if you are interested.

Best,
Yuhei

Announced on 11 December 2014  8:32  p.m. by Yuhei Miyauchi

Recitation 9 (12/5)

Tomorrow I will cover Problems 1-3 in Problem Set 8. See you soon!

Yuhei

Announced on 04 December 2014  5:59  p.m. by Yuhei Miyauchi

Problem Set 8 submission & office hour reschedule

Dear Class,

I am still out of Boston and I will be back Thursday afternoon. So I would like you to leave the Problem Set 8 in my mailbox (on the second floor of E19, beside the table tennis at the entrance of the second floor). You are also encouraged to submit them by emails if that is more convenient for you. I apologize for the inconvenience.

Also, I need to reschedule this week's my office hour to Friday 12pm-1pm (12/5). If you would like to meet but have any conflicts with some other schedule, please just give me an email. Thank you very much for your understanding!

Best,
Yuhei

Announced on 02 December 2014  7:45  p.m. by Yuhei Miyauchi

No recitation tomorrow (11/28)

Due to the Thanksgiving break, we will not have a recitation tomorrow.
Happy holidays!

Yuhei

Announced on 27 November 2014  11:38  a.m. by Yuhei Miyauchi