Lorenzo, Neha, and Winona are the only inhabitants of the small island of Tock. Unfortunately, the island lacks a means of telling time. However, the inhabitants can import a public clock tower from a neighboring island at a cost of $18,000. Once purchased, nothing could prevent any of the island's inhabitants from using the clock to tell what time it is. The following table shows each individual's benefit from importing the clock tower. The total benefit from the clock to Tock is . Therefore, it efficient for Lorenzo, Neha, and Winona to purchase the clock. If the community (Lorenzo, Neha, and Winona, in this case) voted on whether to divide up the cost of the clock into equal shares of $6,000 per person, of the community would vote for this option. Winona tries unsuccessfully to persuade Neha and Lorenzo that the island needs a missile defense system. During their discussion, Winona and Neha get together and introduce a new vote. The new vote bundles two proposals: the missile defense system and the proposal to divide the cost of the clock tower into equal shares. Lorenzo still votes no, but Neha and Winona vote yes due to the agreements they made during their earlier discussion to approve the missile and clock proposals simultaneously. This is an example of.

1. Lorenzo, Neha, and Winona are the only inhabitants of the small island of Tock. Unfortunately,
the island lacks a means of telling time. However, the inhabitants can import a public clock
tower from a neighboring island at a cost of $18,000. Once purchased, nothing could prevent any
of the island's inhabitants from using the clock to tell what time it is. The following table shows
each individual's benefit from importing the clock tower. The total benefit from the clock to
Tock is . Therefore, it efficient for Lorenzo, Neha, and Winona to purchase the clock. If the
community (Lorenzo, Neha, and Winona, in this case) voted on whether to divide up the cost of
the clock into equal shares of $6,000 per person, of the community would vote for this option.
Winona tries unsuccessfully to persuade Neha and Lorenzo that the island needs a missile
defense system. During their discussion, Winona and Neha get together and introduce a new
vote. The new vote bundles two proposals: the missile defense system and the proposal to divide
the cost of the clock tower into equal shares. Lorenzo still votes no, but Neha and Winona vote
yes due to the agreements they made during their earlier discussion to approve the missile and
clock proposals simultaneously. This is an example of