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Economics

Time to Econ103:

Time to Econ100:

Response to ECON100 Mock Test 3 Question 6. LUMS/M Schonger/G Johnes

Multi-peak

table.jpeg Order: Labour, Greens, Lib Dem, Conservatives

As you move away from Humphrey's most preferred party (Green), the next party is less preferred; so it is single-peaked.

As you move away from Jim's most preferred party (Labour), the next party (Green) is less preferred. As you move from the Green party to the Lib Dem party, the preferrence for the current party increases (i.e. Lib Dems are preferred to Greens). Hence Jim's preferences are multi-peaked in this ordering.

As you move away from Bernard's most preferred party (Conservatives) the next party(Lib Dem) is less preffered but the party after that is preffered more than the Lib Dems, so this ordering also makes Bernard's preferences multi-peaked.

multi-peak.png

Single-peak

LabourLib DemGreenConservative
HumphreyThird choiceSecond choiceFirst choiceLast choice
JimFirst choiceSecond choiceThird choiceLast choice
BernardLast choiceSecond choiceThird choiceFirst choice
Order: Labour, Lib Dem, Greens, Conservatives

In this scenario the order has changed: the Lib Dems and Green parties have swapped positions. As you move from each persons' peak the preference for the next party is less than the previous one, therefore each persons' preferences are single-peaked in this ordering.

single-peak.png

CV

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