It's that time of year again, time to make the donuts....er, grade final exams. I had a question on the Principles exam asking whether a tunafish entrepreneur - Charley "The Tuna" Sharkspear by name - who knew that consumers value safe dolphins more than the added cost of fishing in a dolphin-safe fashion could make money providing the dolphin-safe tuna. The idea I wanted them to get was that the safety of the dolphins, if accomplished, is a public good. From one student I learn that:
"People will continue to buy a cheaper tuna and still 'free-ride' on the dolphins that Charley is saving."
That sounds like fun. Back to work!
1 comment:
ah kevin,
this brings to mind two thoughts
first is that college professors, not least economists, are too fond of the the "guess what i've got in my pocket" exam question.
second is that everyone, not least economics students, has a "basic reality structure" in their head composed largely of cute phrases they heard from their father or their broker or a paid liar in the newspaper, or even their first economics teacher... and you will never, never, ever
get them to change that.
Post a Comment