Biblical Integration Essay
In 1-2 paragraphs analyze King Solomon’s actions in I Kings 3:16-28 using game theory
APA style
Reading Cowen and Tabarrok Chapters 13-16 Cowen and Tabarrok Chapters 13-16 Modern Principles of Economics, 3rd Edition (New York: Worth Publishers, 2013), Tyler Cowen and Alex Tabarrock.
Chapter 14 Narrative
The chapter begins with a narrative about a drug smuggling syndicate operating out
of Belgium.They smuggle Combivir, the HIV treatment discussed in the previous
chapter, from Kenya, Uganda, and Tanzania into Europe. GlaxoSmithKline, the manufacturer of Combivir,was selling the drug for $12.50 per pill in Europe but for only
about 50 cents in Africa. The story of Combivir is used throughout much of the chapter to illustrate how price discrimination can maximize profit, lead to increased
efficiency, and force companies to try to limit arbitrage opportunities. Universities, computer software, cable television, and computer printers are other markets discussed
in the chapter.
Chapter 15 Narrative
Much of this chapter examines the economics of cartels by analyzing the OPEC oil cartel. Other cartels, including professional sports leagues and the government supported
milk cartel, are also discussed. Game theory—the study of strategic decision-making—is introduced to understand cartel behavior.
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