7. Assume five members of a voting body A, B, C, D, and E. They have ideal points in atwo-dimensional issue space, given by A: (1,4), B: (4,4), C: (2,2), D: (1,1), and E: (2,1),where the first coordinate gives a person's ideal policy on the X dimension and the secondcoordinate gives the ideal policy on the Y dimension. Assume further that each memberprefers an outcome closer to his or her ideal point to one further away. All votes are takenover X-Y policy bundles, so all proposals are made in the form of ordered pairs (x,y).a. Is there an equilibrium proposal if the body uses majority rule?eb. Now suppose that player B has been appointed the sole agenda setter. If the status quois at C's ideal point, can B construct an agenda of pairwise votes that will leadeventually to her own ideal point being approved by the entire legislature body? ec. If so, construct such an agenda (you may assume sincere voting, and that the agendasetter can always persuade legislators indifferent between two policy bundles to votefor the bundle that she prefers) ed. What theorem does this illustrate?

These ìdetailsî just as the specific thought of harmony regularly have a significant effect on the…

Answered: 7. Assume five members of a voting body…

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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