Tepper School of Business






45-871 Trade and Investment Strategy        


Robert A. Miller  ramiller@cmu.edu


Teaching Assistants





How to Launch ComLabGames In Virtual Andrew

Downloading Comlabgames








Assignment 1

Assignment 2

Assignment 3

Assignment 4

Assignment 5

Strategic Play - Draft





Monday October 24:              



Wednesday October 26:        



Monday October 31:              








Wednesday November 2:      



Monday November 7:


Wednesday November 9:      



Monday November 14:          


Wednesday November 16:    



Monday November 28:          


Wednesday November 30:    



Friday December 2:   


Wednesday December 7:       



Monday December 12:          








Texas CD Auctions



Strategic Equivalence



Revenue Equivalence








Procurement Contracts



Limit Order Markets


Liquidity and Market Dynamics



Trading on an LOM Platform


Arbitrage Pricing



Uncertainty and Dynamics


Portfolio Investment



Price Discovery– in person


Governance - remote/optional



Games for Grades – remote/required




Bidding Frictions in Ascending Auctions



First Price and Dutch Private Value Auction (right click to save)

First Price and Dutch Common Value Auction  (right click to save)


The Revenue Equivalence Theorem

Revenue from Private Value Auctions

Bidding in a FPSB Auction

Differential Information in a FPSB auction

Second Price Sealed bid and English Auction Game (right click to save)

First Price Sealed Bid Procurement Auction Game (right click to save)

Differential Info Takeover Common Value Games (righr click to save)


Winning by Default: Why is There so Little Competition in gov. procurement?



Landing Game (right click to save)


Estimating the Gains from Trade in Limit Order Markets



Recycling Game (right click to save)


Telecommunication  Providers (right click to save)



2021 Klein Lecture: American dream delayed: shifting determinants of home ownership

Certainty equivalence game (right click to save)




Currency game (right click to save)


Promotion, turnover and compensation in the executive labor market

Insider information and performance pay