推 TINTINH :已收精華區:) 01/14 08:41
課程名稱︰ 個體經濟學
課程性質︰ 經濟系大二必修
課程教師︰ 黃貞穎
開課學院： 社會科學院
開課系所︰ 經濟系
考試日期（年月日）︰ 2009 1 13
考試時限（分鐘）： 兩小時以上
是否需發放獎勵金： 需要
（如未明確表示，則不予發放）
試題 :
1.Consumer's surplus: A consumer has the utility function
U(x,y) =e^(ln(X)+Y)^1/3 where X is the good in concern and Y is the money
that can be spent on all other goods. (So the price of Y is normalized to
be 1). The income of this consumer is 100.
(a. 10%) Derive the demand function of x for this consumer.
(b. 10%) Calculate the price elasticity of the demand function in (a).
Is it true that the absolute value of the elasticity of the demand decreases
as the amount of x increases?
(c. 10%) Suppose price of x decreases from 1/2 to 1/4. Calculate the change
in consumer's surplus.
(d. 10%) Suppose price of x decreases from 1/2 to 1/4. Calculate the
compensating variation of this price change.
(e. 10%) Suppose price of x decreases from 1/2 to 1/4. Calculate the
equivalent variation of this price change .
2.Expected Utility: Suppose that a safety agency is thinking of establishing
a criterion under which an area prone to flooding should be evacuated.
The probability of flooding is 1%. There are four outcomes.
(A)No flood and no evacuation is performed.
(B)No flood but an evacuation is performed.
(C)There is a flood and an evacuation is performed.
(D)There is a flood but no evacuation is performed.
Suppose that the agency is an expected utility maximizer. Suppose further
that the agency is indifferent between the sure outcome B and the lottery
of A with probability p and D with probability (1-p). Also assume that the
agency is indifferent between the sure outcome C and the lottery of B with
probability q and D with probability (1-q). Suppose it also prefers A to D
and that 0<p<1 and 0<q<1 .Let us normalize by setting the utility of getting
the sure outcome A to be 1 and the utility of getting the sure outcome D to
be 0.
(a. 10%) Determine the expected utility of sure outcome B and the expected
utility of sure outcome C for the agency.
(b. 20%) Consider two different policy criteria:
Criterion 1: This criterion will result in an ecavuation in 90% of the
cases in which flooding occurs and an unnecessary evacuation in 10% of the
cases in which no flooding occurs.
Criterion 2: This criterion is more conservative. It result in an evacuation
in 95% of the cases in which flooding occurs and an unnecessary evacuation
in 5% of the cases in which no flooding occurs.
Recall that the probability of flooding is 1%. Derive the probability
distribution over the four outcomes under these two criteria. Then, by
using the utilities you calculate in (a), decide which criterion the agency
will choose.
3.(20%) Explain what the winner's curse is. Briefly relate it to the swing
voter's curse.
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※ 編輯: eatgod520 來自: 61.228.89.133 (01/14 02:04)