You have the following data on the number of dishes of ice cream that 4 people eat in a month:
6. Question 6 You have the following data on the number of dishes of ice cream that 4 people eat in a month: Alice: 12 Baruk: 12 Carlos: 6 Daria:…
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If you are a rational person playing a “race to the bottom” game, how should you react to the addition of more people whom you know to be irrational?
5. Question 5 If you are a rational person playing a “race to the bottom” game, how should you react to the addition of more people whom you know to…
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Alicia is a rational actor. She’s in a market with 20 buyers and 20 sellers of corn. All of the other buyers and sellers are zero-intelligence agents. Assume that Alicia is a buyer. If Alicia has a relatively high value, which of the following scenarios is true?
4. Question 4 Alicia is a rational actor. She’s in a market with 20 buyers and 20 sellers of corn. All of the other buyers and sellers are zero-intelligence agents….
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Imagine that you’re a contestant on a game show in which you must answer multiple-choice questions. Your current winnings are $20,000. A question comes up that will double your winnings if you answer correctly – taking you to $40,000 – or reduce your winnings to nothing if you answer incorrectly. You may do one of two things: take your $20,000 and walk away; or answer the question and end up with either $0 or $40,000. You reason that you have a 60% chance of answering the question correctly. However, you decide to walk away instead of answering. What type of bias does this choice represent?
3. Question 3 Imagine that you’re a contestant on a game show in which you must answer multiple-choice questions. Your current winnings are $20,000. A question comes up that will…
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The State of Minnesota Veteran’s Administration is pushing for a bill to make contributions by military personnel to their retirement funds be automatic. If the bill passes, contributions will occur automatically unless the military member checks a box asking for the money in salary instead. The governor is against the bill, saying it will have no effect. What type of model is the governor most likely using?
2. Question 2 The State of Minnesota Veteran’s Administration is pushing for a bill to make contributions by military personnel to their retirement funds be automatic. If the bill passes,…
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Think about all of the methods we have covered that allow us to model agents. Which of the following CAN be true? You may select more than one.
1. Question 1 Think about all of the methods we have covered that allow us to model agents. Which of the following CAN be true? You may select more than…
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Sarah is shopping for a computer. She researches different aspects of the computers for sale: screen size, processing speed, battery life, and price. All other things being equal, for which of these attributes would Sarah likely have spatial preferences? (For this question, please familiarize yourself with the concept of
5. Question 5 Sarah is shopping for a computer. She researches different aspects of the computers for sale: screen size, processing speed, battery life, and price. All other things being…
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Suppose that there exist three voters, each of whom is given three alternatives: A, B and C. There exist six possible strict preference orderings for these three alternatives: A>B>C, A>C>B, B>C>A, B>A>C, C>A>B, and C>B>A. The first voter has preferences A>B>C. The second voter has preferences B>C>A. Preferences of the third voter are unknown. How many of the six possible preference orderings, if selected by the third voter, would produce a voting cycle? (In a voting cycle, A defeats B, B defeats C, and C defeats A).
4. Question 4 Suppose that there exist three voters, each of whom is given three alternatives: A, B and C. There exist six possible strict preference orderings for these three…
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Suppose that each of 400 people is equally likely to vote “yes” or “no” in an election. What’s the size of the standard deviation for the total number of “yes” votes?
8. Question 8 Suppose that each of 400 people is equally likely to vote “yes” or “no” in an election. What’s the size of the standard deviation for the total…
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How many possible preference orderings exist for four alternatives? These orderings must satisfy transitivity. Write onlyonly your final answer (Do NOT enter your calculations).
7. Question 7 How many possible preference orderings exist for four alternatives? These orderings must satisfy transitivity. Write onlyonly your final answer (Do NOT enter your calculations). 1 point …