BCOR 1015 Prompt for Competition

BCOR 1015 Prompt for Competition and Monopoly

Instructions/Descriptions

BCOR 1015 Prompt for Competition and Monopoly

For your position statement, you must respond to the prompt below. In your response consider the concepts covered in this module as well as the readings assigned for Day #4. Prompt: Recently, several big tech companies have been experiencing increasing criticism for alleged anticompetitive behavior.

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Google, Facebook, Amazon, and Apple are currently under a broad anti-trust review opened by the US justice department in July 2019. Facebook is under anti-trust investigation by 47 state attorneys general. Additionally, the European Union recently fined Google $2.7 billion for manipulating its search results.

Some US political candidates have observed these trends and are calling for the break-up of big tech companies. The Wall Street Journal recently reported that Amazon changed its product search algorithm to prioritize items that generate higher profit margins for their company (including its own branded products) over items that are better selling or more relevant to consumers.

Products that are no longer prioritized may include those sold through the site by third-party sellers. Based on your analysis of the game day, readings, and class discussion in this module, do YOU believe regulators step in to stop this behavior? Why or why not?

Position Statements – Format the Position Statement may be no longer than 500 words, single-spaced. Font size, margins, and number of pages are unrestricted due to the 500-word limit and single-spacing requirement.

The following information must appear at the top of the page: § Your name § Module name § Number of words

Position Statements – Submission

• Submit your Position Statement online in Canvas. § Include your name and module name in the title of your file. § No emailed or late versions will be accepted.

Guidance for answering Position Statement:

ü Have you answered the question(s) asked by the prompt and included any other components of the prompt in answering this/these question(s)? A well written response will clearly state a position very early, if not at the beginning of your paper. Do not make the reader have to look for your position. Taking a position means one position – not both sides.

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ü Have you supported your position? Good support for your position should be clearly and

logically written. It should include specific references to class material and/or discussions. The reader should be able to tell that your response reflects that you have been in this class (not an answer that could have been written before you took this class).

ü What is the quality of your writing? Organized, spelling, grammar….. Do you need someone to

review it for you? Do you need to go to the writing center? Since you are limited to 500 words, have you used your available words to support your position and fully answer the question? This is an exercise in preparing a concise response.

ü Have you followed all the instructions? Name, module name, word count, file name, single- spacing, etc.

ü In summary

Create a well written response that states your position, uses most of your available words to provide support for your position, and includes at least one meaningful trade- off related to your position.

BCOR1015 Position Statement – General Rubric Position Statement #__________ Name ____________________________________

Position is very clearly stated. Position is stated. Position is vague.

Support for your position is clearly outlined and includes relevant concepts. Underlying logic is explicit.

Support for your position is clear in parts or only partially described. Some aspects of your support may not be connected or there may be minor errors in logic.

Support for your position is missing, vague, or not consistently stated. Underlying logic has major flaws and the connection to your position is not clear.

Course concepts and/or readings

Course concepts and/or readings referenced in your statement are highly relevant and presented accurately.

Course concepts and/or readings referenced in your statement are mostly relevant and accurate. There may be some unclear components or some minor errors in your referencing.

Course concepts and/or readings are not referenced at all or are not relevant or accurate.

Trade-offs Your statement includes one or more meaningful trade-offs or alternate perspectives to your stated position.

Your statement includes one trade-off or alternate perspective, however, it maybe unclear or not directly relevant to your stated position.

Your statement does not include any trade-offs or alternate perspectives to your position.

Writing Paper is coherently organized and the logic is easy to follow. There are no spelling or grammatical errors and terminology is appropriately used. Writing is clear and concise and persuasive.

Paper is generally well organized and most of the argument is easy to follow. There are only a few minor spelling or grammatical errors, or some terms are not appropriately used. Writing is mostly clear but may lack conciseness.

Paper is poorly organized and difficult to read – does not flow logically from one part to another. There are several spellings and/or grammatical errors; technical terms are not used appropriately. Writing lacks clarity and conciseness.

Instructions All instructions were followed regarding formatting, word count, submission to drop box, on time etc.

Most of the instructions were followed. Several instructions were not followed.

Comments

Dimension Well Done Competent Needs Work

FA19 BCOR1015- Sec 001 and 002 – Module #5 Guide

Competition and Monopoly

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Learning Objectives: At the end of this module, you should be able to

• Explain the concept of a “just” price
• Understand the role of competition in a market economy
• Describe the role of “creative destruction” in the evolution of industries and market economies
• Understand the impact of “creative destruction” in both the short-term and long-term
• Explain the impact of algorithms and virtual competition
• Recognize the economic reasoning for surge pricing
• Evaluate the growth of Big Tech and the impact on competition and consumer welfare

Reading Questions

Day #2:

1. Excerpts from Vance, L.M. (2008, March 31). The Myth of the Just Price. Mises Institute, Daily Articles – mises.org

This article is an opinionated discussion about the “morality” of pricing, the concept of a just price and government intervention in pricing. Read for the main ideas not detailed biblical support.

Focus your reading on the sections up to “The State” and then read the conclusion at the end.

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• What is a just price? Where did this concept come from? How did Thomas Aquinas define a just price?
• What are examples of government intervention in pricing?
• What is usury? How does it relate to interest?
• What is the author’s conclusion and point of view? How does he support it?

2. Cox, W.M., & Alm, R. (2008). Creative Destruction. In The Concise Encyclopedia of Economics (2nd ed.). Library of Economics and Liberty.
3. J. A. Schumpeter’s Capitalism, Socialism and Democracy, 1942

These two articles (#2 and #3) discuss the same material. Schumpeter is the originator of the concept of creative destruction and his writing is from his original publication. Cox is essentially an explanation of what Schumpeter’s term “creative destruction”.

• What is creative destruction?
• What is the paradox of progress, what are the implications of creative destruction?
• How does creative destruction relate to capitalism?

4. Christensen: HBR Video. (2013). The Explainer: Disruptive Innovation [Video file].
5. A.W. (2015, January 25). The Economist explains: What disruptive innovation means.

These two very short assignments – video and 1 page reading – explain a related term “disruptive innovation”.

• What does disruptive innovation mean?
• What is the innovator’s dilemma?

Day #3:

1. Powles, J. (2017, January 5). No invisible hand in cyberspace. The Times Higher Education Supplement: THE, (2287). [Review of Virtual Competition].

• What might be the impact of algorithms or “virtual” competition on a market economy and the role of competition?

2. Hall, J., Kendrick, C., & Nosko, C. (2015). The Effects of Uber’s Surge Pricing: A case or current event Study. The University of Chicago Booth School of Business.

• What is meant by surge pricing?
• Who is benefited by this type of pricing and how are they benefited?
• Any problems with surge pricing?

3. Kolhatkar, S. (2017, July 10). Uber and out. The New Yorker.

• Is Uber’s rule-breaking “bold disruption”? Why or why not?
• What business strategy has Uber been using to deal with competitors?
• Is Uber profitable? If not, where is the funding coming from to support the company?

4. Zetlin, M. (2019, May 23). Here’s why Uber and Lyft drivers are artificially creating surge prices. Inc.

• How can drivers artificially create surge pricing and why would they do so?

Day #4:

1. Competition, not break-up, is the cure for tech giants’ dominance: Taming big tech. (2019, Mar 13). The Economist

• How does this article suggest that more competition can be introduced into the “big tech market”?

2. Godwin, M. (2019, April 30). A Facebook request: Write a code of tech ethics. Los Angeles Times.

• What is meant by an “information fiduciary”?
• Why does the author suggest a code of tech ethics?
• Would regulation be needed if there was a code of ethics?

3. Yglesias, M. (2019, May 3). The push to break up big tech explained. Vox

• What has been the traditional focus when evaluating companies for anti-trust behavior?
• Is the focus changing?
• What other considerations should be evaluated when looking at anti-trust behavior?
• Explain how the baseball analogy relates to owners of tech platforms? Is this a good analogy?

BCOR 1015 Prompt for Competition and Monopoly

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