Managerial Economics and Decision Sciences

  • Daniel Diermeier
    Daniel Diermeier
    IBM Professor of Regulation and Competitive Practice Daniel Diermeier Photo © Nathan Mandell

The Managerial Economics and Decision Sciences Department (MEDS) is a combination of the Managerial Economics, Decision Sciences and Operations Management Programs.

The faculty of the Kellogg School's MEDS department are world-renowned for their teaching concentrates on probability, work in game theory, decision theory, statistics and microeconomics. more...

Kellogg Insight presents articles on Managerial Economics & Decision Sciences

Is the Sunk Cost Fallacy Actually Smart Business?
It is a mistake—but a useful one
Based on the research of Sandeep Baliga And Jeffrey Ely
It is a mistake—but a useful one: The sunk-cost fallacy is a staple of Business 101. Yet new research suggests that, as mistakes go, it is surprisingly useful. The fallacy may serve as a mnemonic device, helping us to remember which projects we once found important.

All Gain from Guaranteed Access to Key Goods and Services
A guaranteed minimum distribution system is optimal
Based on the research of Xavier Calsamiglia , Teresa Garcia-Milà And Therese McGuire
A guaranteed minimum distribution system is optimal: A new study by Therese McGuire suggests that a guaranteed minimum distribution system is most efficient way of ensuring that all members of a society have access to essential goods and services.

Whipping the Supply Line into Shape
New insight into the bullwhip effect
Based on the research of Robert L. Bray And Haim Mendelson
New insight into the bullwhip effect: Slight changes in consumer demand are often amplified up the supply chain, a phenomenon known as bullwhipping. But some bullwhips are more inconvenient—and costly—than others. By deconstructing the bullwhip effect by information lead time, Robert Bray provides new insight into how to mitigate negative consequences.

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