Travis Roach
  • Home
  • Research
  • Teaching
  • CV
  • Current Classes
    • MBA 5042
  • Media

Should you go to the k-state game?

2/24/2014

 
Picture
A back-of-the-envelope "economic analysis" of why you should go to the K-State Game

By now you've heard that they are practically giving you the keys to the stadium to go to the Tuesday night game against K-State. Well, they're giving away about $100,000. The question remains, though, is it worth it? Here's a (very) quick look at why you should check out tomorrow night's game. For the more rigorous statisticians out there here are some assumptions I'm making: 1) you get a new draw at winning a prize every time one is handed out. 2) 10,000 students will be in attendance and eligible for a prize 3) I'm not treating hot dogs as a prize. I don't care how hungry of a student you are that's not what is prying you away from the new Torchy's and to the game.

On to the fun stuff, here is what you can expect to win if you go to the game
: $6.52.

Yep.

Here's how I calculated that: Assume you have a 1 in 10,000 chance at winning each prize. Thus, you have a 1/10,000 probability of winning, say, the big prize of $10,000. Multiply that out and you can "expect to win" $1. Or in other words, you would be indifferent about spending a dollar to go to the game if you have a 1/10,000 chance at $10,000 (expected cost = expected benefit). Using this type of logic you can add the expected payoff from each prize and voila you arrive at $6.52.

So, for you to be indifferent between going to the game and pretending to do homework while you watch a livestream  of the action it has to be that it costs $6.52
to attend. Here's the kicker, the athletic fee is currently $75 for a semester. Assuming you average the fee across all of the sporting events you go to then you need to attend 11 and a half games for it to be worth your money. So, if you've already been to a few of games then you are well on your way to making this game pay for itself. If not, then make sure to attend this game and a few soccer, tennis, or baseball games. Either way, have a great time breaking a student record. Wreck'em.

P.S. my prediction TTU - 67, K-State - 59



TEACH Talk: Motivating Students

2/6/2014

 
Picture
Here is the worksheet from the TEACH Talk Discussion Series session on motivating students. Additionally, here is a neat video by RSA animate (and TED) about motivation. Enjoy!

    About the Blog

    This is the blog containing resources for all courses and presentations. For updates on required current events readings, podcasts, and videos subscribe to the RSS Feed

    RSS Feed

    Archives

    July 2017
    September 2016
    August 2016
    June 2014
    February 2014
    November 2013
    October 2013
    September 2013
    July 2013
    June 2013
    May 2013
    March 2013
    February 2013
    January 2013
    November 2012
    October 2012
    September 2012
    August 2012
    July 2012
    April 2012
    March 2012
    February 2012
    January 2012
    December 2011
    November 2011
    October 2011
    September 2011
    August 2011
    June 2011

    Categories

    All
    Addiction
    Apple
    Banks
    Beer!
    Campaign Finances
    Capitalism
    Causation
    Champagne
    China
    Communism
    Conspicuous Conservation
    Cost Of College
    Cotton
    Creative Destruction
    Demand
    Democracy
    Drought
    Elasticities
    Elasticity
    Election
    Electric Cars
    Employment
    Environment
    Ethics
    European Union
    Federal Aid
    Firm Decisions
    Freakonomics
    Freedom
    Free Trade
    Game Theory
    Gender Gap
    Gender Inequality
    Government Aid
    Government Debt
    Human Capital
    Incentives
    Income
    Income Effect
    Income Inequality
    Inferior Goods
    International Trade
    Investment
    Iran
    Job Growth
    Jobs
    Korea
    Labor
    Labor Demand
    Lady Gaga
    Learning
    Metacognition
    Moral Philosophy
    Normal Goods
    Normative
    North Korea
    Obama
    Occupy Wall Street
    Oligopoly
    Parking
    Pizza
    Post Hoc
    Product Differentiation
    Profit Maximization
    Public Economics
    Recession
    Sanctions
    Schumpeter
    Signal Theory
    Sin Tax
    Strike
    Substitution Effect
    Super Bowl
    Supply And Demand
    Teaching
    Texas Tech
    Twitter
    Unemployment
    Unions
    Utility
    Wage Differentials
    Work Study

Powered by Create your own unique website with customizable templates.
  • Home
  • Research
  • Teaching
  • CV
  • Current Classes
    • MBA 5042
  • Media