Using the two text-box questions following this setup, answer two of the following four short answer questions. Indicate the numbers of the questions you are answering. Your answer should be no more than six sentences. If you answer more than two, we will choose two at random to grade. 1. Define availability bias and explain how it can explain the racial disparities we saw in the stop- and-frisk policy in New York City. 2. Why might a sophisticated, present-biased individual be willing to pay more to have an unhealthy behavior taxed than to have a healthy behavior subsidized? 3. Does requiring motorcyclists to wear helmets satisfy the criteria for Libertarian Paternalism? Does it satisfy the criteria for asymmetric paternalism? (If the answer is ambiguous, what does it depend on? 4. Define base-rate neglect and explain how it can explain the phenomenon of people inflating the probability that a person who gets a positive HIV test is actually HIV positive.

Using the two text-box questions following this setup, answer two of the following four short answer questions. Indicate the numbers of the questions you are answering. Your answer should be no more than six sentences. If you answer more than two, we will choose two at random to grade. 1. Define availability bias and explain how it can explain the racial disparities we saw in the stop- and-frisk policy in New York City. 2. Why might a sophisticated, present-biased individual be willing to pay more to have an unhealthy behavior taxed than to have a healthy behavior subsidized? 3. Does requiring motorcyclists to wear helmets satisfy the criteria for Libertarian Paternalism? Does it satisfy the criteria for asymmetric paternalism? (If the answer is ambiguous, what does it depend on? 4. Define base-rate neglect and explain how it can explain the phenomenon of people inflating the probability that a person who gets a positive HIV test is actually HIV positive.

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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