A majority rule explains why politicians appeal to

Info iconThis preview shows page 1. Sign up to view the full content.

View Full Document Right Arrow Icon
This is the end of the preview. Sign up to access the rest of the document.

Unformatted text preview: ) Majority rule explains why politicians appeal to the middle of the voting distribution. (b) Based on studies of human decision making, most people prefer to procrastinate, both in the immediate future and in the distant future. (c) Screening refers to an uninformed party trying to extract information from an informed party. (d) Advertising can be an example of a company signaling the quality of its products. ( %): , , . ( %) (X) (Y) , , , , , (a) ( %) (b) ( %) ? (c) ( %) , , ? (Hint: )? . ( %) , (a) ( %) , , (pairwise voting scheme), , (b) ( %) , ? , , . ( %) ? (Adverse selection) (a) ( %) (Moral hazard)? , , (b) ( %) , , , , , , , , (c) ( %) , , , ,...
View Full Document

This document was uploaded on 03/21/2014.

Ask a homework question - tutors are online