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3 voters, A, B, and C, will decide by majority rule whether to pass bills on issues X and Y. Every of the two issues will be voted on indiviually. The change in net profits (in dollars) that would result from the passage of every bill is as follows: Issue Voter X Y A +6 -3 B -1 +4 C -2 -31. Which issues (if any) will pass if decided by majority rule? Is this the efficient outcome? And another question is which issues (if any) would pass if logrolling were permitted? Would logrolling improve efficiency? Would it result in the efficient outcome?
2. Assume that it were legal for one voter to pay another voter to vote in a some way. Would permitting such side payments improve efficiency in part b? Would it result in the efficient outcome?
3. What amount of side payments would take place if paying for votes were permitted?
In economic literature policy instrumentation has usually been discussed from normative point of view. In particular, the analytical apparatus of welfare theory is well equipped t
We live in a globalized world economy. Our policy agenda, as we have discussed earlier have changed enormously to include environment, humanity in general as well as the conventio
Question 1: "A Policy may be defined as a major course of action within a given environment intended to reach a goal or realize an objective." Give an account of the making
The structural interdependence, in fact, forms the basis for the policy maker's choice behaviour for policy or policy mixes. The spectrum formed by various policy mixes depends on
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One shortcoming of neoclassical welfare economics is that it does not take into account the institutional structure of collective decision making. To draw normative conclusions abo
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In the context of hospital care, explain and distinguish between occupancy rate, capacity, and utilization.
Problem 1: i) Define the three main Economic Systems? ii) How can knowledge on price, income and cross price elasticity of demand, be helpful to the Government and a firm,
Problem 1: i) According to you the Central Electricity Board in Mauritius operates in which type of market structure? Justify your answer. ii) Compare and contrast a perfe
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