Lec5_08 Discrim AA - • How can we identify discrimination...

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Markets and Market Markets and Market Failure Failure An Odd Application for MLK Day An Odd Application for MLK Day
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Administrative Stuff Administrative Stuff Discussion section: HW-like examples Homework 1 due Friday! Do HW in pairs! See syllabus for rules No Lecture or Discussion Monday 1/21 Sit in on another section, space allowing
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Last Time Last Time When markets work When they don’t work
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Property Rights Regimes Property Rights Regimes One Typology Open Access absence of well-defined property rights Private Property owner can exclude others, regulate resource use State Property gov’t can control access, resource use Communal Property community can control access, resource use Effectiveness for correcting market failures?
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Today Today Discrimination & Affirmative Action Agenda: Looking for Market Failures Turning these into economics questions Turning these into research questions
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Discrimination Discrimination Definition
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Unformatted text preview: • How can we identify discrimination in, e.g., a workplace or school setting? • Why might people discriminate? • (When) Can discrimination be efficient? – If so, why do we seek to eliminate it? – If not, why do we do it? Effects of Discrimination Effects of Discrimination • Historic Effects – Initial endowments – Where people live – Education – Social networks Basketball analogy Basketball analogy Thanks to NPR? Thanks to NPR? • Game in progress • Referees have systematically slanted calls – Score favors one team • What do you do now? – Start over/Reassign some points? – Keep going with new referees? – Slant calls the other way? Markets, Market Failure, & Markets, Market Failure, & Affirmative Action Affirmative Action • Possible sources of failure? – Economics & initial endowments? – Network externalities? – Change in use of signals? • Questions for research...
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