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Economics Experiment

Economics Experiment.

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Economics Experiment

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  1. Economics Experiment Are you interested in participating in an economics experiment where you will have chance to win a new iPod Touch (with video, wireless internet and 16GB storage) ? The experiment involves answering multiple-choice questions based on material in this course. The experiment will take place online. If you are interested in participating, please go to the following web site for more information: web.econ.ucsb.edu/study/signup

  2. Externalities

  3. Quiz 2 on Monday • Covers all chapters that we have completed with greater emphasis on material covered since first quiz. • There will not be questions on externalities. • There will be 20 questions.

  4. Do you wish your apartment or dormitory were less noisy? • Yes • No • Doesn’t apply. I don’t live in an apartment or dormitory.

  5. A commuting game. • You have two ways to commute from home to work. • The short way by narrow road • The long way by freeway • Commute time by freeway is always 30 minutes. • Commute time by narrow road depends on how many others take narrow road.

  6. Your choice • If N people go short way, it takes 15+N/10 minutes to make the trip. • Freeway always takes 30 minutes • You hate commuting and want to minimize travel time. • Choose your route using Clickers. We’ll do this repeatedly, simulating commuter days.

  7. Your score for the day. • Everybody gets 5 points per trial. Those who spend less than the mean amount of commuting time in total get an extra 5 points. Whoever spends least time commuting gets $20. (If a tie, winner determined by lottery. • You must choose one way or the other. If you don’t click either option, you are assessed 1 hour commuting time.

  8. Day 1: I will travel by the A) Short way B) Freeway

  9. Day 2: I will travel by the A) Short way B) Freeway

  10. Day 3: I will travel by the A) Short way B) Freeway

  11. Day 4: I will travel by the A) Short way B) Freeway

  12. Day 5: I will travel by the A) Short way B) Freeway

  13. Lets move on to our lecture…

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