Which of the following is true?
a. Decision making should never be centralized
b. If you decide to centralize the decision making authority, figure out a way to keep information hidden from it
c. If you decide to centralize the decision making authority, figure out a way to transfer information to the third party
d. If you decide to centralize the decision making authority, figure out a way to transfer information to the decision maker
d
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If the marginal social benefit of a city's sewage system is less than the marginal social cost, then the city will achieve an efficient use of resources if it ________
A) decreases the capacity of the sewage system B) does not change the capacity of the sewage system C) increases the capacity of the sewage system D) increases the sewerage charge that the residents pay
In a beauty contest game such as predicting the average of respondents choosing a number between 0 and 100
A) the outcome is not normally the Nash equilibrium for the game. B) the winner usually exhibits level-3 reasoning. C) the winner must understand the non-rationality of the players. D) All of the above.