Study Guides (248,269)
Canada (121,449)
Commerce (386)
COMM 394 (15)
Final

C394 - Feb 24 - Exam Feedback and Gov't and Gov't Failure.docx
Premium

4 Pages
156 Views
Unlock Document

Department
Commerce
Course
COMM 394
Professor
Tony Boardman
Semester
Winter

Description
Exam Feedback • E.g. Bike Helmet – Allocative efficiency, equity, rights • E.g. Advantage and disadvantages of 3 policies (carbon tax, cap and trade, standards) • ETHICS - Kant believed the ends justify the means – NO o Robin Hood – need to distinguish between  Act utilitarianism  Rule utilitarianism o In the game, individual utility max would lead to cheating, but rule utilitarianism would lead to honesty • Perfectly Competitive • Negative Externality – DWL o Impose TAX (GFDC) o Decreases externality, selling less, (BCDE) o Eliminated DWL 8. Government and Government Failure - Olympics – why fund/subsidize athletes, CBC (broadcasting)? o Public – happy, sense of pride o National prestige o After event, we all talk about it – post-game happiness o Positive consumption externality o CBC – broadcasted, not pay-per-view channel which limits number of viewer [5] Rent Control – DWL created Cap and Trade Government Failure - What 2 examples have in common? o Solve a problem, but didn’t actually o Good intentions, maybe for other reasons o Fails to maximize allocative efficiency - What is government failure? o Fails to act in the “public interest” o What government does, why they do it Democracy - Churchill – says “best of the worst” - What are the other forms? o Dictator  One person’s decisions – not representative, biased  Tends to corrupt - Democracy – representative and responsible Representation Methods - Direct (pure) democracy (referendum) o Timely, cost, transaction cost high o Not all places have same issue, local issues vary o Not everyone informed o Doesn’t reflect strength of preferences – only one vote per person o Declining interest - Representative democracy (with g
More Less

Related notes for COMM 394

Log In


OR

Join OneClass

Access over 10 million pages of study
documents for 1.3 million courses.

Sign up

Join to view


OR

By registering, I agree to the Terms and Privacy Policies
Already have an account?
Just a few more details

So we can recommend you notes for your school.

Reset Password

Please enter below the email address you registered with and we will send you a link to reset your password.

Add your courses

Get notes from the top students in your class.


Submit