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...1 Experiment Problem 1.1 Table 1.8 Section: 6 Session 1 Session 2 Mean Price $21.81 $29.00 Number of Transactions 16 17 Total Profit of All Sellers $149.00 $123.00 Total Profit of All Buyers $131.00 $147.00 Total Profit of All Traders $280.00 $270.00 Problem 1.2 Figure 1.5 $40 $35 $30 $25 $20 $15 $10 $5 $0 1 3 5 7 9 11 13 15 17 19 21 23 25 Problem 1.3 Table 1.9: Supply Table: Session 1 Price Range Amount Supplied P<$10 0 $10<P<$30 15 P>$30 23 Table 1.10: Demand Table: Session 1 Price Range...
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1 Experiment Problem 1.1 Table 1.8 Section: 6 Session 1 Session 2 Mean Price $21.81 $29.00 Number of Transactions 16 17 Total Profit of All Sellers $149.00 $123.00 Total Profit of All Buyers $131.00 $147.00 Total Profit of All Traders $280.00 $270.00 Problem 1.2 Figure 1.5 $40 $35 $30 $25 $20 $15 $10 $5 $0 1 3 5 7 9 11 13 15 17 19 21 23 25 Problem 1.3 Table 1.9: Supply Table: Session 1 Price Range Amount Supplied P<$10 0 $10<P<$30 15 P>$30 23 Table 1.10: Demand Table: Session 1 Price Range Amound Demanded P>$40 0 $20<P<$40 8 P<$20 24 Table 1.11: Supply Table: Session 2 Price Range Amount Supplied P<$10 0 $10<P<$30 8 P>$30 23 Table 1.12: Demand Table: Session 2 Price Range Amound Demanded P>$40 0 $20<P<$40 16 P<$20 24 Problem 1.4 Figure 1.6: Supply and Demand for Apples, Session 1 $45 $40 $35 Price of Apples $30 $25 $20 $15 $10 $5 $0 0 5 10 15 20 25 30 35 40 Bushels of Apples CE Problem 1.5 Figure 1.7: Supply and Demand for Apples, Session 2. $45 $40 $35 Price of Apples $30 $25 $20 $15 $10 $5 $0 0 5 10 15 20 25 30 35 40 Bushels of Apples CE Problem 1.6 Table 1.13 Predicted and Actual Outcomes-Session 1 Comp. Exper. Outcome Predict. Mean Price $21.81 $20 Number of Transactions 16 15 Total Profit of Sellers $149.00 $150.00 Total Profit of Buyers $131.00 $160.00 Total Profits of All Traders $280.00 $310.00 Market Efficiency 90% 100.00% Table 1.14 Predicted and Actual Outcomes-Session 2 Exper. Comp. Outcome Predict. Mean Price $29.00 $30 Number of Transactions 17 16 Total Profit of Sellers $123.00 $160.00 Total Profit of Buyers $147.00 $160.00 Total Profits of All $270.00 $320.00 Market Efficiency 84% 100.00% Problem 1.7 Table 1.15 Who Trades? - Session 1 Exper Comp. Outcome Predict. # of Low-Cost Sellers 14 15 # of High-Cost Sellers 2 0 # of High-Value Buyers 8 8 # of Low-Value Buyers 8 7 Table 1.16 Who Trades? - Session 2 Exper Comp. Outcome Predict. # of Low-Cost Sellers 7 8 # of High-Cost Sellers 10 8 # of High-Value Buyers 15 16 # of Low-Value Buyers 2 0 Problem 1.8 Part a. Number of Transactions Commissions 23 $46 Part b. Arrange as in competitive equilibrium. It maximizes total profit. Transactions 15 Part c. Arrange as in competitive equilibrium. If 10% of profits, you want to maximize total profits.
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UCSB >> ECON >> 1 (Fall, 2008)
Homework for Experiment 2. Section: 0 Problem 2.1 Table 2.6: Demand Table for Sessions 1 and 2 Price Range Amount Demanded P>$25 0 $20<P<$25 8 $5<P<$20 25 P<$5 33 Problem 2.2 Part a) How many fish will be supplied at a price of $15? 16 Part b) How...
UCSB >> ECON >> 1 (Fall, 2008)
Experiment 6 Section 1 Problem 6.1 Table 6.7: Experimental Results in Session 1 Mean Price Number of Lawn Ornaments Sold Total Profits of Sellers from Transactions Total Profits of Buyers from Transactions Total Cost of Pollution Total Profits of ...
UCSB >> ECON >> 1 (Fall, 2008)
Experiment 3, Section Problem 3.1 Part a) rise, less than Part b) fall, less than Part c) 210 Part d) more than Problem 3.2 Part a) fall, less than Part b) rise, less than Part c) 210 Part d) more than Problem 3.3 8 Table 3.7: Effects of a Sales Ta...
UCSB >> ECON >> 1 (Fall, 2008)
What will the quiz be like? If you havent studied If youve studied ...
UCSB >> ECON >> 1 (Fall, 2008)
Experiment 7 Section 10 Problem 7.1 Table 7.13: Experimental Outcomes: Session 2 Mean Price $15.00 Total Number of Units Sold 24 Total Profits of All Firms $240.00 Total Consumers\' Surplus $54.00 Sum of Firms\' Profits and Consumers\' Surplus $294.0...
UCSB >> ECON >> 1 (Fall, 2008)
Yams 20 yams, 0 fish 15 yams, 15 fish Fish 60 fish, no yams ...
UCSB >> ECON >> 1 (Fall, 2008)
The saga of North Potato Residents of the isolated country of North Potato subsist entirely on potatoes and fish. There are 1000 farmers in North Potato. 900 of these farmers have land that is dry and not very fertile. 100 of them have more ferti...
UCSB >> ECON >> 1 (Fall, 2008)
Externalities ...
UCSB >> ECON >> 1 (Fall, 2008)
Experiment 3, Section Problem 3.1 Part a) rise, less than Part b) fall, less than Part c) 180 Part d) more than Problem 3.2 Part a) fall, less than Part b) rise, less than Part c) 180 Part d) more than Problem 3.3 10 Table 3.7: Effects of a Sales T...
UCSB >> ECON >> 1 (Fall, 2008)
Economics 1 Monopoly Practice Problems 1. Professor S has written a new book about the dietary habits of his goat. He is publishing it himself. It cost him $5000 to do the research for the book and to write it. The marginal cost of each copy that h...
UCSB >> ECON >> 1 (Fall, 2008)
Demand Curves Do you own an iPod? 1) Yes 2) No Clicker Test Press the Letter A on your clicker. What is the most you would be willing to pay for an iPod Nano? (if you didnt have an iPod and couldnt get one for less) 1) Less than $100 2) $101-$150 ...
UCSB >> ECON >> 1 (Fall, 2008)
What is the most that you would be willing to pay (in dollars) to hear Sacha Baron Cohen (Borat) give a live performance in Campbell Hall? The supply curve for a good is vertical. A natural disaster reduces the supply by 20 %. The elasticity of dema...
UCSB >> ECON >> 100a (Fall, 2008)
1 Exam 1, Econ 170 F08 0.9 0.8 0.7 Cumulative probability 0.6 0.5 0.4 0.3 0.2 0.1 0 0 5 Data 10 15 ...
UCSB >> ECON >> 100a (Fall, 2008)
Econ 170: Health Economics, Fall 2008 Thomas G. Koch, NH 2013 koch.at.econ.ucsb.edu econ.ucsb.edu/koch Class: TR 12:30-1:45 PM in Webb 1100 Oce Hours: TR 2-3 PM Final Exam: Tuesday, December 9 at 12-3 PM Introduction Why is health care so expensive?...
UCSB >> ECON >> 100a (Fall, 2008)
Econ 100A, Fall 2008 Thomas G. Koch, NH 2013 koch.at.econ.ucsb.edu econ.ucsb.edu/koch Lecture: MW 2-3:15 Chem 1179 Oce Hours: TR 2-3 PM Final Exam: Tuesday, December 9 at 4-7 PM Prerequisites Economics 1 and 2, or Economics 109; PSTAT 5; and Mathemat...
UCSB >> ECON >> 100a (Fall, 2008)
PROPERTIES OF DEMAND 1/4/2008 1 Question 1 Suppose my prefs over good1 and good 2 exhibit diminishing MRS. Suppose good 1 is twice as expensive (per unit) as good 2. Suppose MRS(x1\', x2\')=3 at some bundle (x1\', x2\'). I should consume: M...
UCSB >> ECON >> 100a (Fall, 2008)
Lecture 2 1/10/2008 1/4/2008 1 Indifference Curves and Monotonicity Bananas (Xb) 4 (2, 4) 2 Apples (Xa) Monotonic preferences imply \"more\" of any given good is always preferred to less of that SAME good. This is the same thing as sayng th...
UCSB >> ECON >> 104a (Winter, 2008)
Review Review of microeconomics Supply/demand analysis Efficiency of competitive equilibrium Application to sugar quotas in the US Economic efficiency and policy analysis Missing markets, externalities and corrective policy Property rights Int...
UCSB >> ECON >> 114 (Summer, 2008)
Chance and Irrationality in Demand Theory Javier A. Birchenall University of California at Santa Barbara September 10, 2008 Abstract This paper generalizes the class of models of irrational behavior proposed by Gary Becker (Journal of Political Eco...
UCSB >> ECON >> 140b (Fall, 2008)
University of California Department of Economics Economics 140B Problem Set II Due Wednesday, January 14 1. Consider the linear regression model with a lagged dependent variable Yt = Xt + Yt-1 + t , t = 1,.,T. Winter 1998 D. Steigerwald t = ut + ut...
UCSB >> ECON >> 155 (Fall, 2008)
1 Econ155S08Exam1 data 0.9 0.8 0.7 Cumulative probability 0.6 0.5 0.4 0.3 0.2 0.1 0 4 6 8 Data 10 12 14 ...
UCSB >> ECON >> 191fm (Winter, 2008)
CFO Career Grid Corporate Crossfunctional International New Co.s Manager Entry Development of Finance Audit Acct. Cost Planning, Business Tax Accnt. Reporting, Analysis, Investor Treasury Relations Strategic Planning Functional Evolution McKinsey Co...
UCSB >> ECON >> 196a (Fall, 2008)
Solutions for Public Finance problem sets By Anita Gantner and Sofia Franco Chapter 2: Public goods and Private goods Exercise 2.1 (a) The equation implied by the Samuelson condition requires that: 1000 i =1 MRS i = m arg inal cos t of public g...
UCSB >> ECON >> 196a (Fall, 2008)
Solutions to the Exercises in Public Finance 1 Chapter 1 1.1 (a) see graph (b) (10,15) is Pareto optimal since it represents Bruce\'s bliss point. Any move- ment away from this point would make him worse o . The P.O. set is the line segment T = 5+C,...
UCSB >> ECON >> 196a (Fall, 2008)
5 5.1 (a) (b) Chapter 5 see graph At an interior solution: MRSE = MRSF From their respective utility functions, we solve for S: r BE S= 2 Thus, the set of interior P.O. allocations is fBE > 0 BF > 0 S = S = B2E g: The corner solutions are r p fB...
UCSB >> ECON >> 196a (Fall, 2008)
Chapter 11 The Groves-Clarke Mechanism Let there be one private good and one public good. Consumer i has the utility function Ui (Xi , Y ) = Xi + Fi (Y ) (11.1) where Xi is his private good consumption and Y is the amount of public good. Each i has ...
UCSB >> ECON >> 196a (Fall, 2008)
Chapter 7: Congestion Exercise 7.1 a) If preferences are quasilinear then in every Pareto Optimal allocation in which all consumers consume Big Macs there is the same amount of driving for each i and the total amount of highway expenditures. The set ...
UCSB >> ECON >> 196a (Fall, 2008)
Perm # 7402639 7409303 7583727 7684749 7583362 7377260 5776513 7407281 7637143 7660038 7684574 7660681 Grade Student Last tudent First Middle S Email Major1 HW1 DEANGELO GREGORY JOSEPH gjd@umail.ucsb.edu ECON 2 GRAINGER CORBETT ALDEN cgrainger@u...
UCSB >> ECON >> 196a (Fall, 2008)
Journal of Public Economics 4 (1975) 21 I-226.0 North-Holland Publishing Company INCENTIVES Theodore AND PUBLIC and Martin INPUTS* LOEB GROVES Graduate School of Management, Northwestern University, Evanston, and State CTniversity of New York,...
UCSB >> ECON >> 196a (Fall, 2008)
Solutions for Public Finance problem sets 1. Chapter 1: A Primitive Public Economy Exercise 1.1 (a) As we can see Annes preferences and Bruces preferences are represented by utility functions that are the equations for circles. In the case of Annes p...
UCSB >> ECON >> 196a (Fall, 2008)
Free Labor for Costly Journals? Theodore C. Bergstrom1 tedb@econ.ucsb.edu March 20, 2001 1 Theodore C. Bergstrom is the Aaron and Cherie Raznick Professor of Economics, University of California at Santa Barbara, Santa Barbara, California. There i...
UCSB >> ECON >> 196a (Fall, 2008)
On an Early Result on Stability and Complexity Andrew R. Solow; Christopher Costello; Andrew Beet The American Naturalist, Vol. 154, No. 5. (Nov., 1999), pp. 587-588. Stable URL: http:/links.jstor.org/sici?sici=0003-0147%28199911%29154%3A5%3C587%3AOA...
UCSB >> ENV S >> 196 (Fall, 2008)
On an Early Result on Stability and Complexity Andrew R. Solow; Christopher Costello; Andrew Beet The American Naturalist, Vol. 154, No. 5. (Nov., 1999), pp. 587-588. Stable URL: http:/links.jstor.org/sici?sici=0003-0147%28199911%29154%3A5%3C587%3AOA...
UCSB >> ECON >> 230b (Winter, 2008)
E is*rfuf u ji g irrfFff#gff*g $\'rg$f; sffi H3f,fgj # fffu,*r$f gffgf\'u;\' r. F8:uIg* *;ur$g T3 rtsf $F;$;fg;gfgg j$ i.g# sff gr; gs gggggffFf t Z SEEI rai[i?t:r;se,i;ii at*i [E*;Fr, +i*u? it i:sf qEgEi iiiI I{iE E giE Eg3tg I H Ei3iliE$ii\'i* e siEe...
UCSB >> ECON >> 230b (Winter, 2008)
Chapter 8 Models of Highway Congestion The Bottleneck Model The model considered here was developed by William Vickrey. My discussion is largely a restatement of results found in an excellent paper by Arnott, De Palma and Lindsey in the March 1993 A...
UCSB >> ECON >> 230b (Winter, 2008)
Economics Experiment Are you interested in participating in an economics experiment where you will have chance to win a new iPod Touch (with video, wireless internet and 16GB storage) ? The experiment involves answering multiple-choice questions base...
UCSB >> ECON >> 230b (Winter, 2008)
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UCSB >> ECON >> 230b (Winter, 2008)
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UCSB >> ECON >> 230b (Winter, 2008)
I The Economics of Traffic Congestion Rush-hour driving strategies that maximize an individual drivers convenience may contribute to overall congestion Richard Arnott and Kenneth Small T raffle congestion has become one of the plagues of modem li...
UCSB >> ECON >> 230b (Winter, 2008)
Contents 2 Public Goods and Private Goods One Public Good, One Private Good . . . . . . . . . . An Intriguing, but Generally Illegal Diagram . . . . . A Family of Special Cases Quasilinear Utility . . . . Example 2.1 . . . . . . . . . . . . . . . . ...
UCSB >> ECON >> 230b (Winter, 2008)
Second Quiz, Econ 100B, May 2006 You will not need a scantron. Fill in all your answers on this sheet. For each true-false or multiple choice question, a correct answer is worth 5 points, an answer left blank is worth 2 points. Blank answers in the l...
UCSB >> ECON >> 230b (Winter, 2008)
Journal of Economic Literature Vol. XXXIV (December 1996), pp. 19031934 Bergstrom: Economics in a Family Way Economics in a Family Way THEODORE C. BERGSTROM University of Michigan The author is grateful to Carl Bergstrom, Laura Betzig, Hillard Kapla...
UCSB >> ECON >> 230b (Winter, 2008)
Economics in a Family Way Ted Bergstrom Department of Economics University of Michigan Directory Table of Contents. Begin Article. Copyright c 1999 Last Revision Date: February 3, 2000 Abstract This paper argues that the economics of the family ...
UCSB >> ECON >> 230b (Winter, 2008)
Primogeniture, Monogamy and Reproductive Success in a Stratied Society by Theodore C. Bergstrom University of Michigan Current version: October 3, 1994 Abstract. This paper explores the workings of stratied societies in which there is primogeniture...
UCSB >> ECON >> 230b (Winter, 2008)
Lecture Notes on the Elasticity of Substitution Ted Bergstrom UCSB Econ 210A Todays featured guest is the elasticity of substitution. Elasticity of a function of a single variable Before we meet this guest, let us spend a bit of time with a slightly...
UCSB >> ECON >> 230b (Winter, 2008)
Chapter 37 NAMF Introduction. The economics of information and incentives is a relatively new branch of microeconomics, in which much intriguing work is going on. This chapter shows you a sample of these problems and the way that economists think a...
UCSB >> ECON >> 230b (Winter, 2008)
Led Zeppelin Demand in Econ 1 Number Quantity Revenue Value to Cumulative Price demanders Demanded Buyers Value 1000 6 6 6000 9000 9000 750 3 9 6750 2250 11250 700 1 10 7000 700 11950 600 2 12 7200 1200 13150 500 4 16 8000 2000 15150 400 1 17 6800 40...
UCSB >> ECON >> 230b (Winter, 2008)
Bids where both bidders saw zeroes Bids where one bidder say three and other saw zero bidder who bidder who saw zero saw 3 0 2 2 3 3 3 2 3 3 6 2 3.5 1.5 4 1 4 1.5 4 1 4 1 5 bids where both bidders saw 3 High bid 1 2 Low bid 0 0 High bid 3 4.5 4....
UCSB >> ECON >> 230b (Winter, 2008)
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UCSB >> ECON >> 230b (Winter, 2008)
19. Incentives In many economictransactions,one party takes actions that affect the welfare of anotherparty, actions that cannotbe specifiedcontractually.The actions chosen by the first partyare determinedbythe incentiveshe or shefaces, and the sec...
UCSB >> ECON >> 230b (Winter, 2008)
Contents 4 Lindahl Equilibrium Lindahl Equilibrium in a Small Community Lindahl Equilibrium More Generally . . . . How are Public Goods Like Sheep? . . . . . Deceptions Ugly Head . . . . . . . . . . . . Exercises . . . . . . . . . . . . . . . . . . ....
UCSB >> ECON >> 230b (Winter, 2008)
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UCSB >> ECON >> 230b (Winter, 2008)
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UCSB >> ECON >> 230b (Winter, 2008)
Experiments with Economic Principles: Macroeconomics Theodore Bergstrom UCSB John H. Miller Carnegie Mellon University May 8, 2000 c 2000. ii Contents 1 Innovation, Employment and Wages Hot Dogs and Buns . . . . . . . . . . . . . . . . Selling Join...
UCSB >> ECON >> 230b (Winter, 2008)
Journal of Public Economics 4 (1975) 21 I-226.0 North-Holland Publishing Company INCENTIVES Theodore AND PUBLIC and Martin INPUTS* LOEB GROVES Graduate School of Management, Northwestern University, Evanston, and State CTniversity of New York,...
UCSB >> ECON >> 230b (Winter, 2008)
The Journal of LAW ECONOM ICS VOLUME III OCTOBER 1960 THE PROBLEM OF SOCIAL COST R. H. COASE University of Virginia I. THE PROBLEM To BE EXAMINEDt HIS paper is concerned with those actions of business firms which have harmful effects on others. Th...
UCSB >> ECON >> 230b (Winter, 2008)
Name Form Type A Econ 100B First Quiz April 27, 2006 True-False Questions Answer A for True, B for false. Fill in the bubbles on your scantron with your perm number, your name, and the form type. You must use a pencil, not a pen. Students who do ...
UCSB >> ECON >> 230b (Winter, 2008)
Table Relationships for Journal Values Database As of 1/7/2009 ...
UCSB >> ECON >> 230b (Winter, 2008)
A Definition of Subjective Probability F. J. Anscombe; R. J. Aumann The Annals of Mathematical Statistics, Vol. 34, No. 1. (Mar., 1963), pp. 199-205. Stable URL: http:/links.jstor.org/sici?sici=0003-4851%28196303%2934%3A1%3C199%3AADOSP%3E2.0.CO%3B2-8...
UCSB >> ECON >> 230b (Winter, 2008)
Name form D Econ 1 First midterm October, 2007 We will award 5 points for doing the following correctly. FILL IN THE BUBBLES on your scantron for your name, your perm number, and the test form type. Use pencil only. All bubbles must be completely ll...
UCSB >> ECON >> 230b (Winter, 2008)
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UCSB >> ECON >> 230b (Winter, 2008)
We all recognize that information technology has revolutionized the way we produce and consume. Some think that it is necessary to have a new economics to understand this New Economy. We think not. The economic tools that you have learned in this cou...
UCSB >> ECON >> 230b (Winter, 2008)
Economics 109 Supply and Demand 25 30 25 20 Price 15 10 5 0 0 Demand and Supply 5 10 15 20 25 30 35 40 45 50 Quantity Economics 109 Supply and Demand 24 15 10 Price 5 0 The Soy Bean Market 0 5 10 15 20 25 30 35 40 45 50 Quantity Econom...
UCSB >> ECON >> 230b (Winter, 2008)
Solution Set B-1 - Economic Allocation Mechanisms 1. Show that with strong preferences the jungle equilibrium is unique. Let a = (a (i)i=1;:;n be the jungle equilibrium allocation achieved by using the algorithm in the notes (the agents choose the ho...
UCSB >> ECON >> 230b (Winter, 2008)
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UCSB >> ECON >> 230b (Winter, 2008)
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UCSB >> ME >> 215a (Fall, 2008)
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UCSB >> PHYS >> 215a (Fall, 2008)
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UCSB >> ME >> 215a (Fall, 2008)
PHYSICS 215A: QUANTUM MECHANICS FINAL EXAM, FALL 2008 The exam consists of four questions. Answer all of them to obtain full credit. 1. Consider the one dimensional motion of a particle of mass m moving in a potential energy well for x a 0 V0 (x ...
UCSB >> PHYS >> 215a (Fall, 2008)
PHYSICS 215A: QUANTUM MECHANICS FINAL EXAM, FALL 2008 The exam consists of four questions. Answer all of them to obtain full credit. 1. Consider the one dimensional motion of a particle of mass m moving in a potential energy well for x a 0 V0 (x ...
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