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POLS 6308 POLITICAL ECONOMY

Fall Semester AY2002-2003

Midterm Examination

29 October 2002



Instructions: Choose any 2 of the following 3 Questions to answer. Each answer must be typed in WORD and be less than five double-spaced pages. The answers are due at the beginning of class 5 November 2002.

  1. Relate the argument made by Satz and Ferejohn to the various pathologies of Expected Utility Theory. Does the Satz and Ferejohn framework suggest a direction that we could take that would resolve these pathologies?

  2. Within the context of rational choice theory, what are the key differences between the study of economics and the study of politics. What is the significance of spatial theory in this context?

  3. Discuss the significance of the Arrow, May, and Gibbard-Satterwaite theorems for the study of political institutions.