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Suppose now that there are 100 legislators in a bargaining situation, splitting a pie of size 1. Player 1 proposes a split between the 100 players, including himself (in any continuous amount, he can allocate dierent shares to dierent palyers as long as these shares add up to 1). The other 99 players then vote on whether to split the pie in that way or not. If a majority of them (that is 50) vote for the split, then the split is implemented, each player obtaining the proposed share. If a majority vote against the split, then each player obtains 1 percent of the pie. (a) What is a subgame-perfect Nash equilibrium proposal of player 1, and what is the resulting outcome of the game? (b) Suppose now that dierent players obtain dierent shares (adding up to 1) when the majority vote is not passed. What happens in a SPNE then? (You can describe the solution to this in words, if that is easier).
"Suppose the market for oranges is disturbed by below-freezing cold weather that destroys much of the orange crop in the California. Predict what will happen to the equilibrium price and quantity in the market for oranges because of this natural d..
Consider a small economy in which consumers buy only two goods pies and tarts. In order to compute the consumer price index for this economy for two or more consecutive years.
the top ten percentile cutoff was 95 points. a. What is the standard deviation for the class? b. What percentile did you score in?
Now she wants to pay off the remaining installments in one lump sum (at the end of 12 months). How much does she owe the furniture store?
Enron will be an example of a dysfunctional company for many years to come. It was clearly a company riddled with fraud also excess
Which bank is giving the best deal? If they go with that bank, how many dollars in interest will they pay?
Aggregate Demand-some-not all--of these and/or other terms from this week. Explain how can tax cuts help revive the economy.
In a typical day the store sells some of each type of cola, which suggests that Major League Baseball has adopted FOA because it fears that regular binding arbitration is addictive.
Why does a union electrician earn less than a non-union electrician? Why does a white male earn more than a white female with the same level of education?
Discuss illustrate what will take place to the demand curve for economic text book in response to a reduction in student grants.
Assume that Erin now has preferences such that she prefers the cash gift. Using a separate graph from part (a), graph Erin's optimal choice before and after gift.
Determine point price elasticity of demand at P= $3.00. Illustrate what would be new point price elasticity if price were raised to P= $4.50.
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