Macroeconomics
13th Edition
ISBN: 9781337617390
Author: Roger A. Arnold
Publisher: Cengage Learning
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Chapter 19, Problem 2WNG
To determine
Outcome of the election.
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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.
Explain why majority rule respects the preferencesof the median voter rather than those of the averagevoter.
Arrow's impossibility theorem states that under certain assumptions about preferences, no voting system exists that satisfies all of the following properties:
•
Unanimity
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Transitivity
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Independence of irrelevant alternatives
•
No dictators
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- Is it rational for voters to be informed? Is it rational for them to vote? Discuss the incentives that voters face and the calculations they might make. (Authentic answers with sources please)arrow_forwardIn a congressional district somewhere in the U.S., a new representative is being elected. The voters all have one-dimensional political views that can be neatly arrayed on a left-right spectrum. We can define the ”location” of a citizen’s political views in the following way. The citizen with the most extreme left-wing views is said to be at point 0 and the citizen with the most extreme right-wing views is said to be at point 1. If a citizen has views that are to the right of the views of the fraction x of the state’s population, that citizen’s views are said to be located at point x. There are two candidates for the congressional seat and they are forced to publicly state their own political position simultaneously on the zero-one left-right scale. 1.a Suppose voters always vote for the candidate whose stated position is nearest to their own views and suppose each candidate cares only about getting as many votes as possible. In equilibrium, what will be the two candidates’ positions?…arrow_forwardBN10.3 Case: Your non-profit has just been awarded a special government environmental clean- up grant of $90,000. You are given the choice to take the $90,000 now or wait until next year. With an election coming up, the amount of next year's grant will vary based on which party wins. Assuming that money tomorrow is worth the same as money today, the grant amounts are: Outcome Democrats control everything Republicans control everything Split government Assume: Grant Amount $160,000 $36,100 $90,000 Probability 0.25 0.25 0.50 Assume your Payoff in each case (based on your utility function) is sqrt (grant amount). Question: Do you accept the Money today or wait until next year? Include Calculations of the Expected Value and Expected Utility.arrow_forward
- Outline the median voter theorem and explain its importance to the successful application of a majority voting system.arrow_forward4.10. A social choice function satisfies the weak Pareto criterion if,whenever every voter places one candidate above another, say rankingcandidate A over candidate B, then candidate B cannot be the uniquewinner. (This differs from the Pareto property owing to the words “theunique”.)(a) Explain why any method that satisfies Pareto also satisfies weakPareto.(b) Explain why the antiplurality method satisfies weak Pareto.(c) Explain why the agenda method violates weak Pareto.arrow_forwardHow might special interest groups and lobbyists influence campaigns and elections? Group of answer choices political party and influence legislation. They go door to door educating voters on campaign and election issues. While they do not participate in elections, they exercise a lot of influence through their relationships with elected officials. When politicians are elected to office, members of special interest and lobbyists take jobs working for that politician and in this way influence their work, campaigns, and elections.arrow_forward
- Scholars and business people tend to agree that businesses should avoid politics because the economic stakes are too high. True Falsearrow_forwardWhich of the following is true? a. Arrow’s Impossibility Theorem states that There is no voting method that will satisfy a reasonable set of fairness criteria when there are three or candidates. b. Gibbard-Satterthwaite's theorem states that there is a voting method is completely resistant to strategic voting. c. None of the given choices d. May's Theorem states that the majority method will always have a winner.arrow_forwardTRUE OR FALSE Concerning public opinion, Optimists prefer that government officials serve as Delegates for citizens, whereas Pessimists/Skeptics prefer that politicians serve as Trustees instead.arrow_forward
- What is meant by limited and bundled choice when voting on a bill or candidate?arrow_forwardSuppose there are three people in society who vote on whether the government should undertake specific projects. Let the net benefits of a particular project be $150, $140, and $50 for persons A, B, and C, respectively. a. If the project costs $300 and these costs are to be shared equally, would a majority vote to undertake the project? What would be the net benefits to each person under such a scheme? Would total net benefits be positive? b. Suppose the project cost $375 and again costs were to be shared equally. Now would a majority vote for the project and total net benefits be positive? c. Suppose (presumably contrary to fact) votes can be bought and sold in a free market. Describe what kinds of results you might expect in part a and part b.arrow_forwardExplain how affirmative and negative majority votes can sometimes lead to inefficient allocations of resources to public goods. Is this problem likely to be greater under a benefits-received or under an ability-to-pay tax system? Use the information in Figures 17.1a and 17.1b to show how society might be better off if Adams were allowed to buy votes.arrow_forward
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