Tepper School of Business

 

 

 

 

 

45-871 Trade and Investment Strategy

Robert A. Miller  ramiller@cmu.edu

 

 

 

 

 

 

 

 

 

Syllabus

Assignment 1

Assignment 2

Assignment 3

Assignment 4

Take Home Exam

Strategic Play - Draft

 

SCHEDULE

 

 

Monday October 25:              

Wednesday October 27:        

 

Monday November 1:            

Wednesday November 3:      

 

Monday November 8:            

Wednesday November 10:    

 

Monday November 15:          

Wednesday November 17:    

 

Monday November 22:          

Wednesday November 24:    

 

Monday November 29:          

Wednesday December 1:       

 

Monday December 6:

Wednesday December 8:

 

Monday December 13:          

           

 

LECTURE

 

 

Texas CD Auctions

Auction Formats

 

Revenue Equivalence

 

 

Limit Order Markets

Liquidity and Market Dynamics

 

Trading on an LOM Platform

Arbitrage Pricing

 

Price Discovery

Thanksgiving Break

 

Uncertainty and Risk

Lifecycle Consumption Smoothing

 

Portfolio Investment

Governance

 

Games for Grades and Course Review

BREAKOUT SESSIONS

 

 

Discussion Questions on Texas CD Auctions

Discussion Questions on Auction Formats

 

Discussion Questions on Auction Design

 

 

 

 

 

Discussion Questions on Markets for Docking

 

 

 

 

 

 

 

 

Discussion Questions on Portfolio Investment

SUPPLEMENTARY MATERIAL

 

 

Bidding Frictions in Ascending Auctions

Auction Game (right click to save)

 

First Price Sealed bid Auction Game (right click to save)

English Auction Game (right click to save)

 

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)

 

Currency game (right click to save)