For each of the following social choice methods, which of Arrow's axioms (A.1-6) are violated, and why: a. the Pareto criterion b. plurality-rule voting (of several choices, the one with the most votes wins) c. majority-rulevoting d. puiling a choice out of a hat (random
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For each of the following social choice methods, which of Arrow's axioms (A.1-6) are
violated, and why:
a. the Pareto criterion
b. plurality-rule voting (of several choices, the one with the most votes wins)
c. majority-rulevoting
d. puiling a choice out of a hat (random
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- Please note that the answer of 26 is correct for the question. I know that the answer will be 13 if it's social optimal. Bu tplease provided a detailed solution of why it's 26 when it's not social optimal.Ex. 4 Strength Can Be Weakness A three-person committee has to choose a winner for a prize. After some debate, there are three candidates still under consideration. Let's call these candidates a, b and c, and call those committee members 1, 2 and 3. The committee members only care about which candidate wins the prize, and their preferences as follows: member 1 prefers a to b and b to c; member 2 prefers c to a and a to b; and member 3 prefers b to c and c to a. The rules of the competition say that the committee should first apply majority vote (secret ballot, one member one vote) and the candidate with the most votes wins. If the vote is tied, that is, the majority rule select a unique winning candidate, then the winner will be the candidate for whom member 1 voted. Thus, it might seem that member 1 has an advantage. (1) Write down the strategic form of this voting game. [You may assign any number to the payoff of each voter, as long as it is consistent with her preference order.] (2)…3. In the Supreme Court case involving Charles Schenck, which tested the constitutionality of the Esplonage Act, the Supreme Court decided that Multiple Choice the right to criticize government was a fundamental civil liberty that could not be infringed upon even in times of war. the Constitution's guarantee of free speech was applicable only to speech that could be conclusively proven to be true. freedom of speech could be curtailed if the words produced a "clear and present danger." freedom of speech could be curtailed if the speech tended to encourage pernicious actions. although the government could issue injunctions to prevent the media from printing materials that threatened national security, it could not punish them after the materials had been published.
- just b please. Mainly the "calculating the differences estimate between the free option and $3 option."while this topic may seem insensitive given the recent events in Uvalde (and others), in economics the "Guns vs. Butter" debate has been used for decades to describe the choice and trade-offs between producing a governmental capital goods (guns) vs. personal consumer goods (butter) in society. Please keep this in mind and do not get off topic in the guns vs. no guns debate or the idea of gun legislation. In this exercise you will demonstrate your ability to draw a simple production possibilities curve given data on the quantity of one input (labor) and the amount of labor required to produce each of two outputs (guns and butter). You should also be able to identify the opportunity cost of one good in terms of the other as the slope of the PPC. You will go on to explain your analysis. Guns or Butter? Suppose a nation has a total of 24 units of labor, which can be used to produce either guns or butter. One gun takes 6 units of labor to produce and 1 butter takes 2 units of labor to…31) People respond to incentives A) by ignoring negative incentives and responding to positive incentives only. B) only when they are irrational. C) by calculating their individual costs and benefits and determining which is greater. D) when they have low incomes. 32) The threat of a large fine for failure to pay income taxes is an example of A) the excessive power of the Internal Revenue Service. B) the ineffectiveness of incentives to get people to pay their taxes. C) a negative incentive to get all people to pay taxes. D) people failing to consider all the benefits the government provides them. 33) A politician says that the government should tax behavior they want less of and subsidize behavior they want more of. This is an example of A) cynical behavior in modern democracies. B) failing to consider the alternatives available to the government. C) a concern that people are not rational when they make decisions. D) using incentives to alter…
- For many years, states levy a special sales tax on wine often called a "sin tax". The reasoning behind these special sales taxes is that wine consumption can lead to particular social costs such as drunk driving, violence, etc. However, many medical studies have demonstrated that moderate consumption of red wine can lower the risks for many diseases such as coronary heart disease. Thus, there are social benefits as well. Suppose that states, in recognition of some of the benefits to wine consumption, decide to decrease the sales tax on Oregon Pinot Noir. What effect will this have on consumer surplus, producer surplus, and deadweight loss. Consumer surplus increases, producer surplus increases, and deadweight loss increases. Consumer surplus decreases, producer surplus decreases, and deadweight loss decreases. Consumer surplus decreases, producer surplus increases, and deadweight loss is unchanged. Consumer surplus increases, producer surplus increases, and deadweight loss decreases.1.Suppose you were a benign government who wanted to improve Angela’s situation, but without sacrificing the aim of Pareto Efficiency. One policy advisor tells you that all you need to do to achieve this is to improve Angela’s reservation option. Is this correct?Section 1: True/False/Justify. [Please justify your answers with mathematical/logical arguments. N 1. The concepts of weak and strong Pareto optimality are equivalent both in terms of efficiency and equity among agents and generate the same level of social welfare.
- What is the significance of the concept of rational ignorance? Question options: It explains why voters are swayed by single-issue voting. It explains why the majority of voters feel that their vote is important in determining the outcome of an election. It explains how false or exaggerated political advertising influences voting behavior. It explains why many people do not vote.1.Suppose you were a benign government who wanted to improve Angela’s situation, but without sacrificing the aim of Pareto Efficiency. One policy advisor tells you that all you need to do to achieve this is to improve Angela’s reservation option. Is this correct?“Using efficiency as a criterion biases the analysis in favor of the status quo, since any change is certain to harm someone.” Discuss
