a.) Provide two examples of "nudges" currently being encouraged - one by a corporation and one by government (two altogether) - whichhave led to improved utility or welfare of those being nudged. Please provide examples not already used in the assigned reading articles byThaler and Rutter and in your answer please be sure to include the URL link to the sources you are using. b.) According to the strategiesdescribed in this week's assigned readings by Thaler and Rutter, how can the nudge you provided as examples meet Thaler's principle ofleading to better outcomes for society? c.) Explain how each of the nudge examples you provided also meet the other two principles ofThaler's guide for the use of a nudge. This discussion question has three parts, a, b, and, c. The discussion question is: In a New York Times article by economist RichardThaler, "The Power of Nudges, for Good and Bad," nudging is described as strategies that encourage consumers to buy products that theymight otherwise not consider and "The Rise of the Nudge" by Tamsin Rutter describes nudges in the service of government.

a) Examples of NudgesOne of the more famous business nudges is the "digital tipping" implemented by…

Answered: a.) Provide two examples of "nudges"…

Economics (MindTap Course List)

13th Edition

ISBN:9781337617383

Author:Roger A. Arnold

Publisher:Roger A. Arnold

Chapter1: What Economics Is About

Section: Chapter Questions

Problem 25QP

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At the end of performances of his Broadway play, "Cyrano de Bergerac," Kevin Kline, who starred as Cyrano, the cavalier poet with a huge nose, auctioned his prosthetic proboscis, which he and his co-star, Jennifer Garner, autographed to benefit Broadway Cares in its fight against AIDS. An English auction was used. One night, a television producer grabbed the nose for $1,400, while the next night it fetched $1,600. On other nights it sold for $3,000 and $900. Source: (Mitchell, Dan, "This Time, Santa Has Been Too Naughty," New York Times, December 9, 2007) Why did the value fluctuate substantially from night to night? The value of the nose fluctuated from night to night because the bidders have Which bidder's bid determined the sales price? The bidder whose value determined the sales price was the How was the auction price affected by the audience's knowledge that the proceeds would go to charity? Why? Since proceeds went to the AIDS charity, private values OA. differed by each bidder's…
Imagine that you are buying Lego bricks. The number of bricks you are willing to buy is determined by the market price of bricks. Your willingness to buy is defined by the following: You are willing to buy 1 brick if the price is at or below $30 You are willing to buy 2 bricks if the price is at or below $25 You are willing to buy 3 bricks if the price is at or below $20 You are willing to buy 4 bricks if the price is at or below $15 What is your consumer surplus if the market price of bricks is $23? Assume that there are enough sellers available to sell as many as you want to buy at that price. Enter the number below. Do not include the “$” sign.

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