Download - Economics Experiment
![Page 1: Economics Experiment](https://reader036.vdocuments.site/reader036/viewer/2022062501/5681682c550346895dddc2ef/html5/thumbnails/1.jpg)
Economics ExperimentAre 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.
web.econ.ucsb.edu/study/signup
If you are interested in participating, please go to the following web site for more information:
![Page 2: Economics Experiment](https://reader036.vdocuments.site/reader036/viewer/2022062501/5681682c550346895dddc2ef/html5/thumbnails/2.jpg)
Externalities
![Page 3: Economics Experiment](https://reader036.vdocuments.site/reader036/viewer/2022062501/5681682c550346895dddc2ef/html5/thumbnails/3.jpg)
Quiz 2 on Monday
• Covers all chapters that we have completedwith greater emphasis on material covered
since first quiz.• There will not be questions on externalities.• There will be 20 questions.
![Page 4: Economics Experiment](https://reader036.vdocuments.site/reader036/viewer/2022062501/5681682c550346895dddc2ef/html5/thumbnails/4.jpg)
Do you wish your apartment or dormitory were less noisy?
A) YesB) No C) Doesn’t apply. I don’t live in an apartment
or dormitory.
![Page 5: Economics Experiment](https://reader036.vdocuments.site/reader036/viewer/2022062501/5681682c550346895dddc2ef/html5/thumbnails/5.jpg)
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.
![Page 6: Economics Experiment](https://reader036.vdocuments.site/reader036/viewer/2022062501/5681682c550346895dddc2ef/html5/thumbnails/6.jpg)
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.
![Page 7: Economics Experiment](https://reader036.vdocuments.site/reader036/viewer/2022062501/5681682c550346895dddc2ef/html5/thumbnails/7.jpg)
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.
![Page 8: Economics Experiment](https://reader036.vdocuments.site/reader036/viewer/2022062501/5681682c550346895dddc2ef/html5/thumbnails/8.jpg)
Day 1: I will travel by the
A) Short wayB) Freeway
![Page 9: Economics Experiment](https://reader036.vdocuments.site/reader036/viewer/2022062501/5681682c550346895dddc2ef/html5/thumbnails/9.jpg)
Day 2: I will travel by the
A) Short wayB) Freeway
![Page 10: Economics Experiment](https://reader036.vdocuments.site/reader036/viewer/2022062501/5681682c550346895dddc2ef/html5/thumbnails/10.jpg)
Day 3: I will travel by the
A) Short wayB) Freeway
![Page 11: Economics Experiment](https://reader036.vdocuments.site/reader036/viewer/2022062501/5681682c550346895dddc2ef/html5/thumbnails/11.jpg)
Day 4: I will travel by the
A) Short wayB) Freeway
![Page 12: Economics Experiment](https://reader036.vdocuments.site/reader036/viewer/2022062501/5681682c550346895dddc2ef/html5/thumbnails/12.jpg)
Day 5: I will travel by the
A) Short wayB) Freeway
![Page 13: Economics Experiment](https://reader036.vdocuments.site/reader036/viewer/2022062501/5681682c550346895dddc2ef/html5/thumbnails/13.jpg)
Lets move on to our lecture…