Principles of Economics (12th Edition)
12th Edition
ISBN: 9780134078779
Author: Karl E. Case, Ray C. Fair, Sharon E. Oster
Publisher: PEARSON
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Chapter 19, Problem 6.1P
To determine
Identify the concept of voting paradox.
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Chapter 19 Solutions
Principles of Economics (12th Edition)
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- What is the difference between political competition and Tiebout competition? and what are the four types of Tiebout competition? Besides, what is Arrow’s Impossibility Theorem and what are its implications for voting?arrow_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_forwardConsider a society with three people (Atakan, Feyza and Nedim) who is trying to decide how much money to spend on schools. There are three options for spending on schools: H (High), M (Medium) or L (Low). These individuals rank the three options in the following way: Rank Atakan Feyza Nedim 1st Choice M L H 2nd Choice L H M 3rd Choice H M L Question -Would majority voting bring about a decision on how much to spend on schools? Explain why.arrow_forward
- Suppose that friends Jennifer, Stephanie, and Megan cannot agree on how much to spend for a bouquet of flowers to send to a person who allowed them to use her beach house for the weekend. Jennifer wants to buy a moderately priced bouquet, Stephanie wants to buy an expensive bouquet, and Megan wants to buy a very expensive bouquet. Assuming no paradox of voting, majority voting will result in the decision to buy Multiple Choice an inexpensive bouquet. a very expensive bouquet. a moderately priced bouquet. an expensive bouquet. Barrow_forwardThe above table shows the benefit to each voter if an issue passes. The cost per voter of the issue passing is $100. According to Majority Rules voting, will the issue pass? According to marginal analysis, should the issue pass?arrow_forwardExplain why majority rule respects the preferencesof the median voter rather than those of the averagevoter.arrow_forward
- The average cost of landscaping services for members of a condominium community is $350 per week. Assume that the quantity of landscaping services is perfectly correlated with the number of gardeners per week. Suppose the community consists of seven residents, each with the identical marginal benefit curve for landscaping services. The marginal benefit of the first gardener is $100 per resident. a) Assume that the efficient number of gardeners is three per week. What is the political equilibrium under majority rule if each voter is assigned a tax share of $50 per gardener per week? Does the political equilibrium under majority rule differ from the Lindahl equilibrium?arrow_forwardCharter schools in Florida use a lottery to determine which students get in. This means that__________________________________. An auction in this case would mean that: There is often a shortage of seats at charter schools; the families who place the highest value on charter school education would be more likely to get a spot. Families who would like to pay for the right to get into charter schools do not have the opportunity to act on that desire; the price of a seat would rise from zero to some price above zero. Florida charter schools are not maximizing revenue from this system; Florida charter schools would earn greater revenue over time. An auction would create an efficient outcome in the market for charter school seats; An arguably “unfair” market outcome could take place. All of the above.arrow_forwardHow is voters privately protected?arrow_forward
- Consider a Downsian electoral competition over the line [−1, 1] where there are 11 voters. Each voter has a single-peaked preferences over the policies. Voter 1’s peak is at -1, voter 2’s at -0.8, ..., voter 6’s at 0, voter 7’s at 0.2, ..., and voter 11’s at 1. Suppose there are two candidates, {D, R} and if they get equal votes the tie is broken by a coin toss—that is, both wins the election with probability 1/2. (a) What is the Nash Equilibrium of this game? (b) Now suppose that there is an ideological candidate C that positions himself at -1 whatever the other candidates do. Is there a Nash Equilibrium of the game? If so, what is it? (c) Suppose now that there is another ideological candidate at 1. Is there an equilibrium and what is it?arrow_forwardConsider the following two sets of individuals and their group preference rankings, aggregated using the same voting rule. 1: individual preferences: x>y>z>w, y>z>w>x, and z>w>x>y group preferences: x>Gy, z>Gx, w>Gx, y>Gw, y>Gz and z>Gw 2:individual preferences: y>z>x>w, y>w>x>z, and y>w>z>x group preferences: y>Gx, y>Gw, z>Gy, x>Gw, z>Gx, and z>Gw Question: Which of Arrow's conditions (P, D, I, or Transitivity) is violated by their group preferences? (hint: checking I requires comparing the outcomes in the two different groups to find a violation).arrow_forwardCould you please explain why you divided the 250 votes by 2?arrow_forward
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