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Bargaining outcomes and individual preferences

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"Bargaining Outcomes and Individual Preferences"

Please respond to the following:

• Bargaining outcomes in a market-related situation are in general indeterminate and not obvious to the parties in the negotiation.

Develop a bargaining situation from which you would conclude that access to market-related information does in fact affect the outcomes.

• Using specific examples, evaluate the difficulty of accurately eliciting people's preferences for public goods.

"Public versus Private Goods"

Please respond to the following:

• Compare the feasibility and efficiency of producing public goods by tax dollars versus producing them jointly with private funds. Support your argument with specific examples.

• Speculate about why people in higher income groups vote for reasons that are borne out of a sense of duty rather than from economic interests

Is it possible that elementary education produces a public good but higher education does not? Explain.

We said that an uncrowded country club golf course has aspects of a public good. Why? Is it still a public good if it becomes crowded and people's games are slowed down?

Reference no: EM13151724

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