Econ1exp6S3 - Experiment 6 Section 3 Problem 6.1 Table 6.7...

Experiment 6 Section 3
Problem 6.1
Table 6.7: Experimental Results in Session 1
Mean Price $23.24
Number of Lawn Ornaments Sold 21
Total Profits of Sellers from Transactions $125.00
Total Profits of Buyers from Transactions $207.00
Total Cost of Pollution $415.80
Total Profits of All Residents,
Net of Pollution Costs -$83.80
Problem 6.2
Table 6.8
Mean Price $32.00
Number of Lawn Ornaments Sold 12
Total After-Tax Profits of Sellers
from Transactions -$27.00
Total Profits of Buyers from Transactions $61.00
Total Tax Revenue $240.00
Total Cost of Pollution $237.60
Total Profits and Tax Revenue of All
Residents, Net of Pollution Costs $36.40
Problem 6.3
Table 6.9: Experimental Results in Session 3
Mean Price of Ornaments $30.59
Mean Price of Permits $10.36
Number of Lawn Ornaments Sold 11
Profits of Lawn Ornament
Sellers from Transactions $64.50
Profits of Lawn Ornament
Buyers From Transactions $83.50
Total Revenue of Permit Sellers $114.00
Total Cost of Pollution $217.80
Total Profits of All Residents,
Net of Pollution Costs. $44.20

Figure 6.5
Table 6.10: Predictions of the Theory: Session 1
Mean Price $25