Allocation methods

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Allocation methods

  1. 1. Bellringer Full sheet 1. How do you think Pueblo should allocate the $15,000 from Bookman’s?
  2. 2. Original Economic Questions What to produce? How to produce? How much to produce? How to allocate resources?
  3. 3. Allocation methods How do families allocate? Brute force First come, first serve Equal Rationing Rationing by committee Based on need (poorest) Contest based Random lottery Auction – willing to pay
  4. 4. Pueblo Administration has 2 tickets to this year’s Final Four basketball games They are going to allocate the tickets to one student. They are going to either use: 1. lottery, 2. auction, 3.poorest, 4.first come, first serve, 5.highest GPA, 6.committee of teachers, 7.fastest 1 mile run, 8. most free throws, 9.winner of singing contest, 10. best youtube fan video 2. Two reasons your method is best 3. For each of the others, 1 problem
  5. 5. Currently organ donation in the US is done by donation only, and first come first serve. 4. Write a paragraph comparing and contrasting this allocation method with an auction for kidneys where people on the waiting list could buy kidneys from donors. Which method do you think is best?

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