Homework+for+March+11

Homework+for+March+11 - 1.Read Section 3.7 The Method of...

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1.Read Section 3.7 The Method of Markers Homework to be discussed in class. 2. Can you predict under what circumstances there will be no surplus in the method of sealed bids? Please e-mail the answer to me or tell me in class. We will discuss this in class, but I am interested in your ideas! 3. Page 114, Problem 53 Sealed bids Enter your work into this table. Ana Belle Chloe Dresser Desk Vanity Tapestry Total Bids Fair Share= Total Bids/# of players Value of items received Prelim cash settlement= fair share-value of items received negative value means “pays” positive value means “gets” Share of surplus= Item received &Final cash settlement To calculate the surplus: Add up all the money going to the estate (these are negative numbers, what the players “pay”). Add up all the money going to the players (these are positive numbers, what the players “get”).

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Then take the money going to the estate, as a positive number, minus the money going to the players. Divide this difference by the number of players and this is each player’s
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Homework+for+March+11 - 1.Read Section 3.7 The Method of...

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