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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Principles of Economics (12th Edition)
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- Which 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_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_forwardThe 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_forward
- How is voters privately protected?arrow_forwardConsider 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_forwardA group of two or more political parties that governs by sharing executive power and responsibilities is called a .... Group of answer choices coalition threshold confiscation mercantilismarrow_forward
- Consider 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_forwardConsider the town of Springfield with only three residents, Sophia, Amber, and Cedric. The three residents are trying to determine how large, in acres, they should build the public park. The table below shows each resident's willingness to pay for each acre of the park. The cost to build the park is $21 per acre. The government wants to tax each person $7 to build each acre ($21/3). How many acres will be built if majority rules. Sophia $10 Acres Amber Cedric $24 18 $6 2 3. 14 4. 3. 8. 1 6. 2 Select an answer and submit. For keyboard navigation, use the up/down arrow keys to select an answer 3 acres, total surplus $50 b. 2 acres, total surplus $29 2 acres total surplus $125 1 acres total surplus 59arrow_forwardConsider 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 l'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?arrow_forward
- What are the pros and cons and constitutionality of voter ID laws?arrow_forwardWhat type of control, if any, does the President have over the EPA (Environmental Protection Agency)?arrow_forwardThe Agriculture Research Center of a country (a government organization) introduced a new and innovative irrigation technique that would ensure that water usage declined by almost 40 percent. Part of this would be achieved by reducing wastage of water caused by field inundations. This would not only be more sustainable in the long run, but would also benefit farmers. Samira Fernandes, one of the leading researchers at the Center, believes that this innovation would make farming more efficient since a majority of the farmers, if not all, implemented it. Bob Johnson, her colleague, however felt that farmers might be reluctant to use the new irrigation technique. Which of the following, if true, would support Samira's view? A. Switching costs involved in adopting this new technology are low. B. Farmers in neighboring countries have usually been reluctant to use new techniques. C. Traditional farming practices have served farmers well in the past. D. The opportunity cost of the investment…arrow_forward
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