Greg Mankiw Shares a Course Idea

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Greg Mankiw, textbook author and former chair of the Council of Economics Advisers, is a teacher by day, blogger by night.  And he's posted an interesting question he'll be asking his class this week:

You are a utilitarian social planner. You have a limited number of H1N1 vaccines. How do you allocate them? Do you (A) give them to specific groups, such as high-risk populations, or (B) sell them to the highest bidder and rebate the revenue lump-sum to everyone? If you choose (A), do you allow those individuals allocated the vaccine to sell their dose to someone else? Be sure to specify the economic environment as carefully as possible. And remember: Your goal is to maximize total utility.

I assume he'd be fine with you asking it as well--but report back your findings.


Posted 10-26-2009 10:23 AM by Graham Griffith
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