Experimental economics summary paper Essay Example | Topics and Well Written Essays - 500 words - 3

Experimental economics summary paper - Essay Example These aspects tend to be the deciding factors as to when and why humans cooperate or they don’t. The author has used the single trial public goods and the multiple trail experiments to analyse human behaviour and how that affects the economy to a certain extent. In case of the former, it was found that the players could be segregated in two categories- 1: strong free riders, who did not want to contribute anything to the economy 2: weak free riders, who may or may not contribute towards public good and just want to enjoy the benefits (Dawes & Thaler, 1988) In case of the latter, it was found that more the subjects were put through repetitive experiments, the lesser cooperative they grew and even lesser they contributed towards public good. However, both cannot be considered as precise predictions or concrete results to any research. The other theory that has been highlighted by the author is that of reciprocal altruism being a major factor in deciding the contribution level. I t has been observed through experiments that humans tend to cooperate more when there is expectation that the same will be reciprocated. However, this theory has its own drawbacks.

Plymouth (UK) airport will never re-open Term Paper

Plymouth (UK) airport will never re-open - Term Paper Example However, this trend did not last long after 2009 (Great Britain 2010, p. 101). The airport was eventually officially closed on the 23rd of December 2011 after the owners coming to an agreement that this was the right decision to make at that particular moment. There are a number of reasons that are believed to have led to the closure of Plymouth City Airport. According to the management of the airport, closure was made inevitable due to the economic downturn and the problems that the UK aviation market was facing at that time. Just 6 months before the airport was closed the company had registered a loss of up to  £1m (Hynes 2010, p. 201). This was a simple sign that the airport was not going to do well under the same condition given the fact that the airport had more than 50 employees. If they decided to remain functional, they would have continued incurring losses because they would still have operational costs, compensation of their employees being included. The situation at Plymouth Airport was made worse by the withdrawal of Air South West’s flights to London. This meant that the airport no longer had any London passengers going through it. This was a big blow to the airport. The management tried all they could to find a replacement for Air South West, but they were not successful. This led to a situation whereby less than 100 passengers were flying from this airport every day. This was a simple implication that the airport was no longer commercially viable. Much of the services that were offered did not earn the airport any profits due to the situation that had developed as a result of the withdrawal of Air South West, the economic turn-down, and the problems that the UK aviation industry was facing at that time (Pavlyuk 2014, p. 22). This can be explained by the fact that by the month of April 2011, Sutton Harbour Holdings had already announced that the airport would be closed down by the end of 2011. In fact, the