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Consider a society with two individuals a and b whose incomes are respectively A and B. The social welfare function of the society is W=100,000-1/A-25/B. The utility possibility frontier of the society is given by the equation 3 A+12 B=990. Will the income sizes that maximise social welfare be equal? In 426 BCE during the civil war between the democrats and the oligarchs of Corcyra (modern Corfu), the exiled oligarchs "got together boats and mercenaries and crossed over to the island ... and burning their boats so as to have no hope except in becoming masters of the country, and fortifying themselves up to Mount Istone, began to assault those in the city [to obtain] command of the country." Thucydides The Peloponnesian War Book 3, Chapter 85 The oligarchs could pursue either of two plans, fight or live peacefully in exile. If the oligarchs win the fight, they take over the government and enjoy a benefit G which is twice the size of the benefit from living peacefully in exile. If the oligarchs lose the fight, they suffer a loss L which is also twice the size of the benefit of living peacefully in exile. Living peacefully in exile confers a certain benefit equal to E. However, the outcome of victory is uncertain, that is, there is a probability P less than one that they win the fight. Assuming that the oligarchs are risk-neutral, use expected utility theory to identify the probability threshold for choosing to fight. Assume that everyone agrees that global warming is both real and caused by humans. Give two major reasons why bargaining in the spirit of Coase is unlikely to resolve the problem of excess carbon emissions.
Page 1 of 2 "All in the Family": Race, Class and Gender in the 1970s Website for streaming: https://www.imdb.com/title/tt0509913/ (If you have difficulty finding the episode, please email the professor (bergerjmoravian.edu). You might be able to use one of your personal streaming services to access it as well. This episode of "All in the Family" aired in February 1972. It is considered to be one of the most famous television programs of all time. We are watching it to get a sense of the points the producers were attempting to make and also to consider what ideas they took for granted that we no longer accept. "All in the Family" was a sitcom and satire that ran from 1971 to 1979. You are watching it to gain insights into the 1970s, which was a period when liberals ideas were prominent but conservatism was on the rise. In this episode, Sammy Davis, Jr., a famous African American celebrity, played himself. What can you learn about class, race and gender in the 1970 s from this episode? What was Archie Bunker's economic class, and how do you know? What happens in the episode that indicates Archie's attitudes about Black people? How would you characterize Archie in terms of his ideas about race relations? Is he racist? - What points are the producers trying to make about race relations in the U.S. during the 1970 s? - Describe Archie's interactions with his wife, Edith? Are there things that he does that would not be acceptable on television today? If so, provide some examples. Why is there laughter on the sound track when Archie and other characters make fun of Edith? What was supposed to be funny?
Dr. Wright is a professor at a large state university. He wants to study the views on career preparation and success of the five million people who live in his state. At his next meeting with university faculty, he asks the professors attending the following question: "Which do you think is more important for a successful career, a college education or military service?" Of the 15 professors at the meeting, 11 said a college education and the rest said military service. (a) Identify and describe the most prominent source of bias in Dr. Wright's study. Choose the best answer from the choices below. - The bias comes from the fact that the professors were not allowed to voluntarily choose to be in the sample. Volunteers are more likely to have characteristics that reflect the population as a whole. - The bias comes from the phrasing of the question and the context in which it is asked. The responses are unlikely to accurately reflect the professors' views. - The bias comes from having too many of the professors at the meeting who did not respond to the question. These professors might answer the question differently than those who did. - The bias comes from the sampling done in the study. Only professors at the meeting were asked the question instead of a sample of convenience. - There is no or very little bias in Dr. Wright's study. The sample size is smaller than 30, so samples of this size are very unlikely to have outliers, meaning that the sample will have characteristics that reflect the population as a whole. (b) Describe something Dr. Wright could have done to reduce the most prominent source of bias in the study. Choose the best answer from the choices below. - Modify the study by asking the question to a random sample of people living in the state instead of just the professors at the faculty meeting. This way the sample is no longer a sample of convenience. - Put up a poll asking the question on social media. This way Dr. Wright makes sure that the respondents are volunteers. - Change the phrasing of the question and make sure that the professors at the meeting could answer the question anonymously. That way the professors' answers would be more likely to accurately reflect their views. - Offer to buy any professor who answers the question a coffee at a local coffee shop. This way the number of professors not answering the question would be decreased. - As the sample size is sufficiently small, the study has no or very little bias, so, there is nothing Dr. Wright needed to have done to reduce bias.