Economy Game Assignment
samolg
economygameassignment.docxWeek 3 Assignment
Assignment Goals
Directions
1. Go to www.gametap.com and download The Settlers – Rise of an Empire OR Tropico 3 (This should work for Windows 7) OR if you have trouble with that not working go to www.myabandonware.com and download Dune II – The Beginning of a Dynasty. ** There are installation instructions for Tropico 3 if you need them.
2. Start your Empire/Island/Dynasty. You may play more but you must play the game for at least 3 hours total and have your Empire/Island/Dynasty to a point that you can answer the related questions.
3. Answer the questions below as complete as you can.
4. Submit your answers in Word format by 11:59pm, Friday – 9/20/13. Answer each question and put the number of the question before your answer. Keep each group of questions together under each answer. Each answer should be a complete sentence that is able to stand alone without the question it is part of. Example: 1. The game I played was Pirates. 2. In this game my Economic Profit was…
Questions:
1. What game did you play?
a. <ANSWER GOES HERE>
2. Tell me about your Resource Demand and Supply.
a. How did you choose to allocate your resources both in labor and physical resources?
i. <ANSWER GOES HERE>
b. What did you determine you needed to obtain right away for your Empire to begin to grow?
i. <ANSWER GOES HERE>
c. Was this a temporary resource or was it something you found you had to maintain a high supply throughout the game?
i. <ANSWER GOES HERE>
d. What did you find was the most important resource in your Empire at the end of your play?
i. <ANSWER GOES HERE>
e. Were there any cost changes for your resources throughout the game?
i. <ANSWER GOES HERE>
f. If there were, what were they?
i. <ANSWER GOES HERE>
g. Why do you think there was a change?
i. <ANSWER GOES HERE>
3. What was your opportunity cost and your economic rent?
i. <ANSWER GOES HERE>
b. Which Resource Market did you fall into? (A, B, or C)
i. <ANSWER GOES HERE>
c. Why do you think you were in this market?
i. <ANSWER GOES HERE>
4. Tell me what you consider your market work, nonmarket work, and leisure within the game were. (Put yourself in the mind of your character for this question.)
i. <ANSWER GOES HERE>
b. How did you balance your utility?
i. <ANSWER GOES HERE>
c. What was your income within the game?
i. <ANSWER GOES HERE>
d. How did you make sure to maintain it?
i. <ANSWER GOES HERE>
5. If you could pay the “workers” in your Empire, how would you choose who got paid what?
i. <ANSWER GOES HERE>
b. What factors would contribute to the differences in wages? (Pages 179-181 should be a good starting point for the last question.)
i. <ANSWER GOES HERE>
6. What was the boundary of your firm?
i. <ANSWER GOES HERE>
b. How did you decide if you should expand or stay where you were?
i. <ANSWER GOES HERE>
c. Did you conduct any research before deciding to expand?
i. <ANSWER GOES HERE>
d. What was that research?
i. <ANSWER GOES HERE>
e. If you didn’t conduct any research do you think you should have in retrospect?
i. <ANSWER GOES HERE>
f. What would that research have been?
i. <ANSWER GOES HERE>
7. How did you decide what to do in your market with the information not being perfect?
i. <ANSWER GOES HERE>
b. Did you guess on what might happen?
i. <ANSWER GOES HERE>
c. Did you observe other’s actions before making your own move?
i. <ANSWER GOES HERE>
d. Explain your Marginal cost of a search, your marginal benefit of a search, and how you worked towards an optimal search?
i. <ANSWER GOES HERE>
e. Did you find yourself in a Winner’s Curse situation?
i. <ANSWER GOES HERE>
f. What happened?
i. <ANSWER GOES HERE>
g. If not, how could you have ended up in one?
i. <ANSWER GOES HERE>
8. Do you see there being any Hidden Actions or a Principal-agent problem?
i. <ANSWER GOES HERE>
b. What would that problem be?
i. <ANSWER GOES HERE>
c. If you don’t think there is one in this game, is there another game where you could see this being a problem?
i. <ANSWER GOES HERE>
d. Was there a Moral Hazard in the game?
i. <ANSWER GOES HERE>
e. What was it?
i. <ANSWER GOES HERE>
f. If not, what is a game where you can see one?
i. <ANSWER GOES HERE>
9. Would an auction site or area that involves real money work for this game like they do for EVE, WOW, and EQ?
i. <ANSWER GOES HERE>
b. Why or why not?
i. <ANSWER GOES HERE>
c. Would it be better if the game controlled the auction or if it was a free-for-all?
