6)Consider the following voting problem: there are 3 alternatives A, B, and C. There are 3...

6)Consider the following voting problem: there are 3 alternatives A, B, and C. There are 3 voters whose preferences are as follows:

Voter 1: A > B > C

Voter 2: B > C > A

Voter 3: C > A > B

The voting procedure is as follows: first A competes with B and then the winner competes with C.

If voters are strategic what is the voting outcome? Who will each voter vote for in the first stage?

Expert Solution

According to the consumer preference theory the subjective taste of a consumer is based on the amount of satisfaction they derive from a commodity, so if a consumer has three comodities A, B, and C, and they prefer A over B and B over C they'll rationally prefer A over C.

so in the question, voter 1 prefers candidate A over B and B over C so if there are only two candidates A and C the voter will prefer A over C.

Voter 2 prefers candidate B over C and C over A, therefore, he'll also prefer B over A.

Likewise Voter 3 prefers candidate C over A and A over B, thus he'll prefer C over A.

Now, according to the voting procedure only candidate A and B compete in the first round, thus voter 1 will vote for candidate A, voter 2 will vote for candidate B and voter 3 will vote for candidate A rationally considering their level of satisfaction, therefore candidate A wins the first round with 2 votes.

Now, for round 2 candidate C and the winner of the first round candidate A compete against each other.. here voter 1 votes for candidate A, voter 2 votes for candidate C and voter 3 votes for candidate C.

Thus the winner of round two will be candidate C with 2 votes.

Answer: If voters are strategic the voting outcome is that candidate C wins the elections. And in the winner for round 1 will be candidate A

Rahul Sunny answered 6 months ago

Consider three players (1, 2, 3) and three alternatives (A, B, C). Players vote simultaneously for...

Consider three players (1, 2, 3) and three alternatives (A, B, C). Players vote simultaneously for an alternative and abstention is not allowed.The alternative with more votes wins. If no alternative receives a majority, alternative A is chosen. U1 (A) = U2 (B) = U3 (C) = 2 U1 (B) = U2 (C) = U3 (A) = 1 U1 (C) = U2 (A) = U3 (B) = 0 Obtain all Nash equilibria in pure strategies.

Consider the following three mutually exclusive investment project alternatives (A, B, C). Use the annual worth...

Consider the following three mutually exclusive investment project alternatives (A, B, C). Use the annual worth analysis (AW) to determine the best investment alternative assuming MARR=15%. Project name: A B C Cash Flow (Year 0): -200,000 -300,000 -400,000 Cash Flow (Year 1-N) +150,000 +180,000 +150,000 Salvage value at year N: +30,000 +50,000 +60,000 Project Life (N): 2 years 3 years 6 years

Consider the following investment alternatives: Investment Rate Compounding A 6.25% Annual B 6.10% Daily C 6.125%...

Consider the following investment alternatives: Investment Rate Compounding A 6.25% Annual B 6.10% Daily C 6.125% Quarterly D 6.15% Fortnightly E 6.120% Monthly Which alternative offers you the highest effective rate of return? a. Investment E b. Investment C c. Investment D d. Investment A e. Investment B

Consider the following alternatives: A B C Initial Cost $420 $780 $260 Uniform Annual Benefits $59...

Consider the following alternatives: A B C Initial Cost $420 $780 $260 Uniform Annual Benefits $59 $138 $49 Salvage Value $120 $225 $75 Useful Life 10 10 10 Assume a MARR of 13%. a) What is the IRR of Alternative A? b) What is the IRR of Alternative B? c) What is the IRR of Alternative C? d) Of A, B, and C, only two meet or exceed the MARR. For those two, what is the DIRR between them? e)...

In Java please Consider the following problem: There are three pegs, denoted A, B, and C,...

In Java please Consider the following problem: There are three pegs, denoted A, B, and C, and N disks of different sizes. Originally, all the disks are on peg A, stacked in decreasing size from bottom to top. Your goal is to transfer all the disks to peg B, and the rules are that you can only move one disk at a time, no disk can be moved onto a smaller one, and you make use of all pegs. Develop...

The following two investment alternatives are being evaluated using the B/C ratio method. The alternatives have...

The following two investment alternatives are being evaluated using the B/C ratio method. The alternatives have a 5-year service life and the MARR is 18% per year. Alternative A Alternative B Capital investment $10,900 $16,000 Annual revenues 4,000 7,500 Annual costs 250 900 Market value at EOY 5 5,000 9,200 Click the icon to view the interest and annuity table for discrete compounding when i equals=18%per year. Calculate the modified B/C ratio of Alternative A A. 1.32 B.1.35 C.1.26 D.0.90...

Find the value of a : b : c : d, if a : b = 2 : 3, b : c = 4 : 5 and c : d = 6 : 7.

Consider 3 individuals A, B & C with the following risk profiles (4 points) Individual A:...

Consider 3 individuals A, B & C with the following risk profiles (4 points) Individual A: P(healthy) = 90% and I(healthy) = 1000 and I(sick) = 0 Individual B: P(healthy) = 95% and I(healthy) = 3000 and I(sick) = 500 Individual C: P(healthy) = 99% and I(healthy) = 4000 and I(sick) = 500 P() = probability I() = Income An insurance company has agreed to cover these individuals for $1000 each. They have to pay a premium of 100. True...

Problems 3, 4 and 5 refer to the following alternatives on the table below Consider the...

Problems 3, 4 and 5 refer to the following alternatives on the table below Consider the following alternatives that have a ten-year useful life. The MARR is 10% Alternatives A B C A B C Initial Cost 800 300 150 Uniform Annual Benefit (s) 142 60 33.5 3. Based on Benefit-Cost ratio analysis, the alternative to be selected is (A) Alternative A (B) Alternative B (C) Alternative C (D) No Alternative 4. Based on Payback Period, the alternative to select is (A) Alternative A (B) Alternative...

1. Evaluate: (a+b)/(c-d) + 9/(a+d) when a=5, b=3, c=8, d=4 a. 6 b. 3 c. 15/2...

1. Evaluate: (a+b)/(c-d) + 9/(a+d) when a=5, b=3, c=8, d=4 a. 6 b. 3 c. 15/2 d. 17/13 2. Solve for x: 5(x+3) = 35 a. 2 b. 7 c. 4 d. -4 3. Acid rain occurs primarily as a result of a. operating a nuclear power plant b. burning coal or oil containing sulfur c. by-products created by operating an oil refinery d. the use of Freon and other refrigerants 4. The "ozone holes" at the polar region arise...

Question