The effect of majority rule on vacation destination choice Geoffrey, Faith, Jared, and Phoebe are college roommates They're trying to decide where the four of them should go for spring break Vail or Las Vegas If they order the tickets by 11 00 PM on February 1, the cost will be just $500 per person If they miss that deadline, the cost rises to $1,200 per person The following table shows the benefit (in dollar terms) that each roommate would get from the two trips Roommate Benefit from Vail Benefit from Las Vegas Geoffrey $950 $450 Faith $550 $750 Jared $650 $650 Phoebe $750 $950 The roommates tend to put off making decisions So, when February 1 rolls around and they still haven't made a decision, they schedule a vote for 10 00 PM that night In case of a tie, they will flip a coin between the two vacation destinations The roommates will get the most total benefit if they choose to go to Las Vegas or Vail Given the individual benefits each roommate receives from the two trips, which trip will each roommate vote for Fill in the table with each roommate's preferred location, assuming that a given roommate will abstain if he or she has no preference Roommate Vote Geoffrey Vail Las Vegas Abstain Jared Vail Las Vegas Abstain Phoebe Vail Las Vegas Abstain Faith Vail Las Vegas Abstain Under majority rule, the roommates will vote to go to Vail or Las Vegas Therefore, majority rule leads to an economically inefficient or efficient outcome Suppose Phoebe misses the vote, leaving Geoffrey, Faith, and Jared to figure out where they're going to go Geoffrey and Faith argue for their preferred destinations, but Jared offers to vote with Geoffrey if Geoffrey will vote on his side in an upcoming class election This is an example of rational ignorance , progressive tax , logrolling or rent seeking Which of the following are examples of the shortsightedness effect Check all that apply Two proposed bills, an increase in national defense spending and funding for education, are bundled together in order to gain the necessary number of votes to pass During the last 45 years, the U S federal budget has been in deficit (annual tax revenue fell short of annual government spending) 40 times In 40 of the past 45 years, the legislators that set the federal budget opted to incur future debts in order to finance current spending A year before reelection, the governor of your home state increases the expenditures on education, despite their negative effects on state budget deficits in future years

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- The effect of majority rule on vacation destination choice Geoffrey, Faith, Jared, and Phoebe are college roommates. They're trying to decide where the four

- The effect of majority rule on vacation destination choice

Geoffrey, Faith, Jared, and Phoebe are college roommates. They're trying to decide where the four of them should go for spring break: Vail or Las Vegas. If they order the tickets by 11:00 PM on February 1, the cost will be just $500 per person. If they miss that deadline, the cost rises to $1,200 per person.

The following table shows the benefit (in dollar terms) that each roommate would get from the two trips.

Roommate	Benefit from Vail	Benefit from Las Vegas
Geoffrey	$950	$450
Faith	$550	$750
Jared	$650	$650
Phoebe	$750	$950

The roommates tend to put off making decisions. So, when February 1 rolls around and they still haven't made a decision, they schedule a vote for 10:00 PM that night. In case of a tie, they will flip a coin between the two vacation destinations.

The roommates will get the most total benefit if they choose to go to ____________ ? Las Vegas or Vail

Given the individual benefits each roommate receives from the two trips, which trip will each roommate vote for? Fill in the table with each roommate's preferred location, assuming that a given roommate will abstain if he or she has no preference.

Roommate	Vote
Geoffrey	Vail - Las Vegas - Abstain ?
Jared	Vail - Las Vegas - Abstain ?
Phoebe	Vail - Las Vegas - Abstain ?
Faith	Vail - Las Vegas - Abstain ?

Under majority rule, the roommates will vote to go to _______ Vail or Las Vegas. Therefore, majority rule leads to an economically _________ inefficient or efficient outcome.

Suppose Phoebe misses the vote, leaving Geoffrey, Faith, and Jared to figure out where they're going to go.

Geoffrey and Faith argue for their preferred destinations, but Jared offers to vote with Geoffrey if Geoffrey will vote on his side in an upcoming class election. This is an example of ___________________. rational ignorance , progressive tax , logrolling or rent seeking.

- Which of the following are examples of the shortsightedness effect? Check all that apply.

Two proposed bills, an increase in national defense spending and funding for education, are bundled together in order to gain the necessary number of votes to pass.
During the last 45 years, the U.S. federal budget has been in deficit (annual tax revenue fell short of annual government spending) 40 times. In 40 of the past 45 years, the legislators that set the federal budget opted to incur future debts in order to finance current spending.
A year before reelection, the governor of your home state increases the expenditures on education, despite their negative effects on state budget deficits in future years.