MANKIW: PRINCIPLES OF MICROECONOMICS
8th Edition
ISBN: 9781337801775
Author: Mankiw
Publisher: CENGAGE L
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Chapter 22, Problem 5CQQ
To determine
The application ofMedian voter theorem.
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Problem 2. The planning committee for a renewable energy trade show is trying to decide what city to hold their next show in. The votes are shown below.
Numbers of Voters
9
19
11
8
1st choice
Buffalo
Atlanta
Chicago
Buffalo
2nd choice
Atlanta
Buffalo
Buffalo
Chicago
3rd choice
Chicago
Chicago
Atlanta
Atlanta
How many voters voted in this election?
How many votes are needed for a majority? A plurality?
Find the winner under the plurality method.
Find the winner under the Borda Count Method.
Find the winner under the Plurality with Elimination method.
Find the winner under the Pairwise Comparison Voting method.
Ex. 4 Strength Can Be Weakness
A three-person committee has to choose a winner for a prize. After some debate, there
are three candidates still under consideration. Let's call these candidates a, b and c, and
call those committee members 1, 2 and 3. The committee members only care about which
candidate wins the prize, and their preferences as follows: member 1 prefers a to b and
b to c; member 2 prefers c to a and a to b; and member 3 prefers b to c and c to a. The
rules of the competition say that the committee should first apply majority vote (secret
ballot, one member one vote) and the candidate with the most votes wins. If the vote is
tied, that is, the majority rule select a unique winning candidate, then the winner will
be the candidate for whom member 1 voted. Thus, it might seem that member 1 has an
advantage.
(1) Write down the strategic form of this voting game. [You may assign any number
to the payoff of each voter, as long as it is consistent with her preference order.]
(2)…
Ex. 4 Strength Can Be Weakness
A three-person committee has to choose a winner for a prize. After some debate, there
are three candidates still under consideration. Let's call these candidates a, b and c, and
call those committee members 1, 2 and 3. The committee members only care about which
candidate wins the prize, and their preferences as follows: member 1 prefers a to b and
b to c; member 2 prefers c to a and a to b; and member 3 prefers b to c and c to a. The
rules of the competition say that the committee should first apply majority vote (secret
ballot, one member one vote) and the candidate with the most votes wins. If the vote is
tied, that is, the majority rule select a unique winning candidate, then the winner will
be the candidate for whom member 1 voted. Thus, it might seem that member 1 has an
advantage.
(1) Write down the strategic form of this voting game. [You may assign any number
to the payoff of each voter, as long as it is consistent with her preference order.]
(2)…
Chapter 22 Solutions
MANKIW: PRINCIPLES OF MICROECONOMICS
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Similar questions
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- BN10.3 Case: Your non-profit has just been awarded a special government environmental clean- up grant of $90,000. You are given the choice to take the $90,000 now or wait until next year. With an election coming up, the amount of next year's grant will vary based on which party wins. Assuming that money tomorrow is worth the same as money today, the grant amounts are: Outcome Democrats control everything Republicans control everything Split government Assume: Grant Amount $160,000 $36,100 $90,000 Probability 0.25 0.25 0.50 Assume your Payoff in each case (based on your utility function) is sqrt (grant amount). Question: Do you accept the Money today or wait until next year? Include Calculations of the Expected Value and Expected Utility.arrow_forwardBriefly explain why the principle that the majority of voters should decide an election outcome may not always make logical sense.arrow_forward_______ 5) One of the first steps in running for President is winning your local city election. ________ 6) Virginia holds the first state primary of the election season. _______ 7) In terms of people trying to influence the government, lobbyists have the most power.arrow_forward
- Answer it correctly please. I ll rate accordingly with multiple votes. Explain why the options are correct or incorrect.arrow_forward4.1. The vote-for-two method works as follows: Candidates get apoint whenever a voter ranks them first or second. The candidate withthe most points is declared to be the winner (or if several candidates tiefor the most points, they are all declared to be winners).(a) Does the vote-for-two method satisfy the Condorcet criterion?(b) Does the vote-for-two method satisfy the anti-Condorcet criterion?(c) Does the vote-for-two method satisfy the Pareto property?(d) Is the vote-for-two method independent?arrow_forwardWhich of the following is true? a. Arrow’s Impossibility Theorem states that There is no voting method that will satisfy a reasonable set of fairness criteria when there are three or candidates. b. Gibbard-Satterthwaite's theorem states that there is a voting method is completely resistant to strategic voting. c. None of the given choices d. May's Theorem states that the majority method will always have a winner.arrow_forward
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