a.) Provide two examples of "nudges" currently being encouraged - one by a corporation and one by government (two altogether) - which have led to improved utility or welfare of those being nudged. Please provide examples not already used in the assigned reading articles by Thaler and Rutter and in your answer please be sure to include the URL link to the sources you are using. b.) According to the strategies described in this week's assigned readings by Thaler and Rutter, how can the nudge you provided as examples meet Thaler's principle of leading to better outcomes for society? c.) Explain how each of the nudge examples you provided also meet the other two principles of Thaler'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 Richard Thaler, "The Power of Nudges, for Good and Bad," nudging is described as strategies that encourage consumers to buy products that they might otherwise not consider and "The Rise of the Nudge" by Tamsin Rutter describes nudges in the service of government.

In his landmark book on economics, Human Action, Economist Ludwig von Mises describes the consumer as the “captain of the ship.” Write a short essay addressing Mises’s claim. Is he correct? Why or why not? How does what Mises claim correspond to what we know about the laws of supply and demand?

Joab and his friends used to play a game where they put on a dog's electric fence collar and tried to stand over the electric fence line because, after careful consideration of the costs and benefits, they decided that the benefits of watching their friends get shocked outweighed the costs of being shocked themselves. According to the economic way of thinking, by playing this game, Joab and his friends were O not responding to the incentives they faced. making an irrational choice. making a rational choice. not fully considering the costs and benefits of their decision since this is obviously a mistake for anybody to do.

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Styles In an auction, potential buyers compete for a good by submitting bids. Adam Gallinsky, a social scientist from NWU, compared eBay auctions in which the same good was sold. He found on average that, the higher the number of bidders the higher the sales price. For example, in two separate auctions of identical IPods, the one with the higher number of bidders brought the higher sales price. According to Gallinsky, this explains why smart sellers set absurdly low opening prices (the lowest price the seller will accept), such as 1 cent for a new IPod. Use the concept of consumer and producer surplus to explain this reasoning.

Philadelphia and several other cities have imposed an excise tax on sugary drinks (it’s aimed primarily at sodas such as Coca-Cola and Pepsi-Cola, but would apply to all drinks with high sugar content). Philadelphia’s tax significantly increases the price of sodas and other sugary beverages. While other cities have cited the health benefits of cutting back on sugar consumption as the reason for an excise tax on sugary drinks, Philadelphia’s mayor said that his city would impose the tax to raise revenue for the city government to pay for pre-kindergarten and other popular services.   Which is an excise tax on sugary drinks more likely to accomplish: a large reduction in the consumption of sugary drinks, or a large boost in revenue for local government? Justify your answer, being sure to identify the concept that your justification rests on.

In Wheelan's Naked Economics, and according the the chapter on "Economics of Information," which of the below statements correctly captures why students pay thousands of dollars to get into highly selective universities such as Harvard? Group of answer choices   Students who graduate from Harvard University are significantly brighter and better educated than those who do not.   Students engage in irrational behavior when they spend thousands of dollars on tuition and college expenses to study at highly selective universities such as Harvard.   There is little value to spending huge amounts of money to study at a highly selective university such as Harvard, because the university from which a student graduates has little (if any) impact upon the student's job or income prospects.   The choice of university signals information. Employers assume in general that the selectivity of universities ensures quality of education, and therefore graduates of Harvard and other selective universities…

Consider the market for hyperbaric chambers. The market price of each typerbaric chamber is $110,000, and each consumer demands no more than one hyperbaric chamber. Suppose that Hubert is the only consumer in the hyperbaric chamber market. Their willingness to pay for a hyperbaric chamber is $275,000. Based on Hubert's willingness to pay, the following graph shows his demand curve for hyperbaric chambers, Shade the area representing Hubert's consumer surplus using the green rectangle (triangle symbols). PRICE (Thousands of dolla 4400 275 A 220 305 11 Hubert's Demand Market Price Hubert's Consumer Surplus

am. 111.

What does rationalism mean within the context of political economy?