I need a clear and detailed briefing of this question by analyzing the problem by asking the below three questions and Answer to these questions will suggest solutions centered on.
Question: Snacks, Beer, and Marijuana
âSnacks food venders and beer distributors earn some monopoly profits in their local markets but see them slowly erode from various new substitutes. When California voted on legalizing marijuana, which side would you think that California beer distributors were on? What about snack food venders? Why?â
First, explain it and then analyze the problem by using these three questions:
1. Who is making the bad decision?
2. Does the decision maker have enough information to make a good decision?
3. The incentive to do so?
Answer to these questions will suggest solutions centered on:
1. Letting someone else make the decision, someone with better information or incentives
2. Giving the decision maker more information
3. Changing the decision makerâs incentives.
I need a clear and detailed briefing of this question by analyzing the problem by asking the below three questions and Answer to these questions will suggest solutions centered on.
Question: Snacks, Beer, and Marijuana
âSnacks food venders and beer distributors earn some monopoly profits in their local markets but see them slowly erode from various new substitutes. When California voted on legalizing marijuana, which side would you think that California beer distributors were on? What about snack food venders? Why?â
First, explain it and then analyze the problem by using these three questions:
1. Who is making the bad decision?
2. Does the decision maker have enough information to make a good decision?
3. The incentive to do so?
Answer to these questions will suggest solutions centered on:
1. Letting someone else make the decision, someone with better information or incentives
2. Giving the decision maker more information
3. Changing the decision makerâs incentives.
