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Consider two models for estimating, in advance of an election, the shares ofvotes that will go to rival candidates. According to onemodel, pollsters' surveys of a randomly chosen set ofregistered voters before an election can be used to forecast thepercentage of votes that each candidate will receive. The first model relies on the assumption that unpaid survey respondentswill give truthful responses about how they will vote and that theywill actually cast a ballot in the election. The other modeluses prices of financial assets (legally binding IOUs) issued bythe Iowa Electronic Market, operated by the University of Iowa, topredict electoral outcomes. The final payments received byowners of these assets, which can be bought or sold during theweeks and days preceding an election, depend on the shares of votesthe candidates actually end up receiving. The second modelassumes that owners of these assets wish to earn the highestpossible returns, and it indicates that the market prices of theseassets provide an indication of the percentage of votes that eachcandidate will actually receive on the day of theelection.
Which ofthese two models for forecasting electoral results is more firmlybased on the rationality assumption of economic?
How wouldan economist evaluate which is the better model for forecasting electoral outcomes?
This line is aimed at the low end of the market and isn't constructed on a wheel base. Writing instruments. This line includes mechanical pens and pencils which are sold to the middle-market segment between the low-end products such as Bic and hi..
shut down her business in the short run but continue to operate in the long run. continue to operate in the short run but shut down in the long run.
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The phlebotomy lab is designed to accommodate 20,000 draws per year then what are the average and incremental costs of a blood draw when the volume is 20,000? 10,000?
Why do you think consumers respond to the "Buy One Get One Half Off" sales promotion and what principle of economics does this behavior reflect?
Prepare an essay on Minimum wages are likely to harm those they are designed to help.
As Malcolm Gladwell points out in his article "High Prices," increases in drug spending are more the result of increases in drug utilization then in increases in drug prices. Why is this relevant to the debate over whether something should be done..
A profit-maximizing monopoly faces an inverse demand function described by the equation p(y) = 50 - y and its total costs are c(y) = 10y, where prices and costs are measured in dollars.
Explain and show graphically how this market would be affected if there is an increase in the number of dairy farmers that produce hormone-free milk and at the same time south african consumers choose to be more healthy
Analyse a range of current economic issues and problems and develop and communicate economic arguments in a variety of forms.
Provide a brief critique of the CEO's use of your analysis to arrive at her decision to keep the tuition reimbursement program. Assume that she has no additional information on the relationship between employee happiness and participation in the t..
Analyze the current market conditions of the Home Depot. Include the history of the Home Depot, the market in which it operates role of government regulations of firm and any issues that the Home Depot faces.
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