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Consider the following binary route choice game with 12 players. Let x define the number of commuters that take the main road. The payoff for taking the main road is UM=10+2(8-x) and the payoff for taking the side road is US=10+3[6-(12-x)]. Suppose there is 5 drivers in the main road and 6 drivers in the side road, and you are deciding between the main road and the side road. If you choose to take the main road your imposed externality is _________.

The Puritan who fought for “Freedom of Conscience and religious Liberty” was

Consider voting for the college football’s Heisman Trophy award. The trophy is awarded by means of a Borda-count voting system. Each voter submits first-, second-, and third-place votes, worth 3 points, 2 points, and 1 point, respectively. Assume there are 500 Heisman voters. Under this voting system, what is the minimum integer number of first-place votes that it would have taken to guarantee victory (without any help from second or third-place votes)?

Suppose Tokyo and Berlin will have either good luck or bad luck (each with equal chance) in earnings the coming year. If their luck is negatively correlated, they can set an arrangement to pool their income and split evenly in order to decrease the risk they’re exposed to.

Arthur Miller wrote “The Crucible” to parallel the 1692 events with

Suppose an amusement park is being built in a city with a population of 100. Voluntary contributions are being solicited to cover the cost. Each citizen is being asked to give $100. The more people contribute, the larger the park will be and the greater the benefit to each citizen. But it is not possible to keep out the non-contributors; they get their share of this benefit anyway. Suppose that when there are n contributors in the population, where n can be any whole number between 0 and 100, the benefit to each citizen in monetary unit equivalents is n2 dollars. Suppose that initially no one is contributing. You are the mayor of the city. You would like everyone to contribute and can use persuasion on some people. What is the minimum number whom you need to persuade before everyone else will join in voluntarily?

Consider an election with 4 candidates: Berlin, Tokyo, Denver and Lisbon. There is a total of 5 voters for this election (A, B, C, D and E). The Professor has decided to conduct the election according to the instant runoff voting rules. Given the preferences of the voters (ranked 1 is most preferred, ranked 4 is least preferred), who wins the election?  

Suppose Nairobi is risk-neutral and her utility is equal to her money; that is, U(M)=M. Suppose she is offered a lottery that pays either $100 or $50 with equal chance. Nairobi would be willing to sell this lottery for all amounts greater than $_______.

When Emerson wrote about the “Shot heard ‘round the world” he was referring to

“The Scarlet Letter” emphasizes