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What assumptions are necessary for the saving program to be a true nudge? Are they reasonable assumptions?
How is conspicuous consumption an example of the importance of relative materialism to one's happiness? How might conspicuous consumption lower total happiness?
What distinguishes a nudge from a push? Why would push instead of nudge policies be required?
What are three types of choices in which nudges are useful? Why is a nudge useful for choices where benefits and costs are separated by time?
According to studies, which person is more likely to participate? Or are they equally likely to participate? Explain your answer.
What is a nudge policy? Give an example. How can a nudge be defined as libertarian? In what way is nudge policy paternalistic?
What is the primary task of a mechanism design economist? How did mechanism design lead to behavioral economics?
What is a coordination mechanism? Give an example. What is the incentive compatibility problem? Give an example.
Why might a student choose the first option? Why might a student choose the second option? Which is the rational choice?
What might an economist do if he cannot solve a model analytically? (Give up is not an option.)
How is exam an example of predictably irrational behavior?
If modern economics focuses on empirical models, does that mean that those aspects of life that cannot be quantified are shortchanged?
How might that description be related to the economist's modeling approach?
How might modeling itself frame an economist's analysis, making the economist unable to see basic truths about the way in which society subjugates women?
What is an agent-based computational model? Why is out-of-sample data important for testing inductive models?
Why do economists rely more on empirical evidence today than they did 100 years ago? What does it mean to let the data speak?
Why might government intervention make sense in a model of path-dependency but not a supply/demand model?
What is a heuristic model? Can a heuristic model be traditional? Why or why not?
How does enlightened self-interest differ from self-interest? Name two advantages and two disadvantages of the traditional model.
How is a model different from the reality that it represents? Give an example. How does an inductive approach to economics differ from a deductive approach?
Netflix and Blockbuster each expects profit to rise by $100,000 in the coming year. Develop the payoff matrix for the decision facing Netflix and Blockbuster.
What would an indifference curve look like if the marginal rate of substitution were zero? If it were constant?
How might income redistribution be considered a public good? How might income redistribution be considered a public bad?
If you receive a paycheck, what percentage of it is withheld for taxes? What incentive effect does that have on your decision to work?
The Russian people . . . have . . . one idea that appears positive: the idea of justice. What implications would such a worldview have for the economy?