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Despite the negative stereotype of ‘‘women drivers,'' women under age of 25 are, on average, noticeably better drivers than men under 25. Consequently insurance companies have been willing to offer young women insurance with a discount of 60 percent over what they charge young men. Similar discrimination applies on the life insurance market given that women are expected to live longer. Sex-based discrimination for auto and life insurance is extremely controversial. Many people have argued that sex-based rates constitute unfair discrimination. After all some men live longer than some women, and there are some men who are better drivers than some women. In response several US states have laws mandating ‘‘unisex'' insurance ratings.
a. What are the likely effects of such interference with the market forces?
b. Should the government allow insurance companies to base life insurance rates on sex? What are the risks for women and for men who were paying very different rates? Who gains and who loses?
c. Should insurance companies be allowed to base automobile insurance rates on sex, age, and marital status? What are the consequences of having some groups paying much less than they would if rates were based on actuarial differences in accident rates across sexes and ages?
The year is 2020 and the U.S. airline industry has been radically transformed through a recent wave of mergers. Only one company, MONO Airlines, has managed to survive the succession of price wars, labor-management disputes, and government policy.
Group projects are often assigned in classes, with everyone in the group receiving the same grade for the project. Explain why a free-rider problem might arise in this situation.
Newton exports all their products outside the city and Garfield only sells their products within the city. Newton experiences growth, so it hires 100 more workers, all of whom come to reside in city A. Because of this, Garfield - at the first stag..
what is the price elasticity of the demand for tickets
This question should interest all Americans. Oil prices either high or low, influence most aspects of our life's. There are some obvious effects of oil prices, for instance the price at the pump, but it goes a lot further than that.
Similarly, calculate the F statistic from the value of R2 obtained in the earnings function fitted using your EAEF data set and check that it is equal to the value printed in the output. Perform an appropriate F test.
A university spent $1.8 million to install solar panels atop a parking garage. These panels will have a capacity of 500 kw, have a life expectancy of 20 years and suppose the discount rate is 10%.How big of a grant would make this project worthwhile.
Suppose that you are a monopolist who produces gizmos, Z, with the total cost function C (Z) = F + 50Z; where F represents the firms fixed costs. Your marginal cost is MC = 50. Suppose also that there is only one customer in the market
John earned $100,000 last year and paid $10,000 in income taxes. Mark earned $50,000 last year and paid $5,000 in income taxes. This is an example of what principal of taxation?
Assume your research staff used regression analysis to estimate the industry demand curve for Product X. Qx = 10,000 - 100 Px + 0.5 Y - 1000 r (3,000) (20) (0.3) (105) Where Qx is the quantity demanded of Product X, Px is the price of X, Y is inco..
From the following list, indicate which curves you will request: average total cost, average fixed cost, average variable cost, marginal cost, demand, marginal revenue.
What is the unbiased estimate of the difference in height between boys and girls? Provide a formula and check the unbiasedness. Calculate the value of this estimate for the given sample
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