Problem set(voting)

Anonymous
timer Asked: May 4th, 2017

Question description

economics problem set

Voting Question 1 (40 points) Three friends want to spend summer vacations together. They all have different references on now to spend the vacation. They have 3 options to choose from. Option A: hiking in national parks in Utah; Option B: surfing in California; Option C: hanging out in Portland. Here are the individual preferences of three friends: Friend 1: Option A is better than Option B; and option B is better than Option C. Friend 2: Option C is better than Option A; and option A is better than Option B. Friend 3: Option B is better than Option C; and option C is better than Option A. Three friends decide to have a vote and go to the place, which wins by majority voting rule. Will majority voting generate a consistent outcome in this case? If yes, find the place where they will go on vacation to (choice of the majority). If majority voting does not provide a single outcome, explain why. Hint: calculate a number of votes for each option in pairwise comparison of all options. See if there is one outcome, which dominates all others. Question 2 (30 points) In many cases local utility companies (water, gas, telephone, etc.) are required to have a public hearing before Administrative Law Judge if they desire to raise tariffs. Consumers are offered an opportunity to voice their opinion and concerns at these public hearings. How does free-rider problem explain why utility companies usually get permission to raise tariffs? Explain what is free-rider problem in political collective action and how does it work in this case. Question 3 (30 points) Senators are more likely to mirror the preferences of their voters (constituencies) during election years than in earlier years of their terms. Why might that be the case?
Voting Question 1 (40 points) Three friends want to spend summer vacations together. They all have different references on now to spend the vacation. They have 3 options to choose from. Option A: hiking in national parks in Utah; Option B: surfing in California; Option C: hanging out in Portland. Here are the individual preferences of three friends: Friend 1: Option A is better than Option B; and option B is better than Option C. Friend 2: Option C is better than Option A; and option A is better than Option B. Friend 3: Option B is better than Option C; and option C is better than Option A. Three friends decide to have a vote and go to the place, which wins by majority voting rule. Will majority voting generate a consistent outcome in this case? If yes, find the place where they will go on vacation to (choice of the majority). If majority voting does not provide a single outcome, explain why. Hint: calculate a number of votes for each option in pairwise comparison of all options. See if there is one outcome, which dominates all others. Question 2 (30 points) In many cases local utility companies (water, gas, telephone, etc.) are required to have a public hearing before Administrative Law Judge if they desire to raise tariffs. Consumers are offered an opportunity to voice their opinion and concerns at these public hearings. How does free-rider problem explain why utility companies usually get permission to raise tariffs? Explain what is free-rider problem in political collective action and how does it work in this case. Question 3 (30 points) Senators are more likely to mirror the preferences of their voters (constituencies) during election years than in earlier years of their terms. Why might that be the case?

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