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1. Assume there is a steel plant that dumps pollutants into a stream that is used by commercial fisherman. What are the private means by which the fishermen and the steel plant owner might resolve the matter, assuming the plant has the right to pollute?
2. If one is preparing a contingent valuation study, what are the sources of bias that one might encounter?
3. Explain how the travel cost method might be used to determine the value visitors place on their right to visit a national park?
4. If an unemployed person were hired to work on a public project. An accountant would include all his wages in an estimate of the project's cost to society. An economist however would not.
Let us imagine that we have three types of individuals in the electorate (each with same population), with the following preferences. Simple majority: Which policy wins a simple majority in a vs b? Which policy wins a simple majority in a vs c
a description of the environmental problem of water scarcity. Then, based on the core principles of the Ecological Model, explain how the multiple levels of influence contribute to the problem and interact with each other.
Readings: Please read the PS 101 Introduction document (below) and chapters 1 in the course text (Lowi). In addition, there is a short video clip on the US government ("The American Form of Government).
Employment effects of a minimum wage - What determines the size of the employment effect of a minimum wage increase in the model of perfect competition?
Compare and contrast key economic goals of public and private health insurance plans. Evaluate the success potential of key economic goals in terms of populations covered, services included, financing arrangements, reimbursement strategies, and e..
What are the transfer coefficients for each of the two firms - Calculate the cutoff discount rate, c, such that the dam is a good idea for discount rates c.
What share would each legislator require to accept somebody else's proposal? What division would each legislator propose if he gets picked - What is the Nash equilibrium of this game?
there are two types of drivers on the road today. speed racers have a 5 chance of causing an accident per year while
Write all your answers on separate paper to turn in, and show all your work where necessary. No credit for answers without work, unless the problem can be done in a single step. Write neatly and circle or box your final answers. Credit will not be..
Calculate the cost effectiveness ratio (CER) for each drug and list the drug that could be reimbursed by the insurance plan, and the threshold value of your reimbursement decision
What would make the curve expand or contract? Why is efficiency lost at the extremes, as when substantially more of one good and very little of another is produced?
What is the total social cost of pollution when the firm considers only its private costs and what is the optimal per unit tax on pollution for this steel factory. Why? Show using a well labeled graph that your tax will achieve a socially optimal l..
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