Author: Scientific Strategy

BB-211 Giffen Goods and Veblen Goods

Both Giffen Goods and Veblen Goods violate the basic Law of Demand in microeconomics. As the Price of these Products increase, so does the Willingness To Pay (WTP) of Customers. Mainstream Economics decouples Price from WTP and treats the two as independent variables. When increasing Price disproportionally increases WTP the result is an upward-sloping Demand Curve.

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ED-201 Burger Wars 2002

In 2002 a price war broke out between McDonald’s, Burger King, and other USA fast-food hamburger restaurants. This Case Simulation offers a case study of those market dynamics and suggests questions for class discussion. A software simulated replica of the 2002 fast-food hamburger market is then presented. Students are asked to use the provided data analytics tools to analyze the simulation and answer pertinent questions of interest to the business leaders involved. A final challenge asks students to extend the market simulation to test an outstanding hypothesis.

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