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Economics question 1. The City of Minneapolis is considering whether to erect a replica of Michelangelo's statue of David in the middle of Loring Park.

Economics question

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1. The City of Minneapolis is considering whether to erect a replica of Michelangelo's statue of David in the middle of Loring Park. Some residents argue that it is high time we had classic art competing for attention with giant spoons and blue chickens. Others are uncomfortable with nudity, even if artistic, in the public sphere. Let us analyze this problem using Groves schemes. Let X = {0, 1} be the set of alternatives (whether or not to build the statue). There are n ; vi(ti, x*(t) ) and x* is ex post efficient. Find a pair of type profiles t and s that violate this equation

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