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LOGIC questions from "getting into oxbridge guide" watch

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    (Original post by Amrad)
    As eeyore is crafting the hives and both pooh and rabbit are desperate to get their hands on the hives the situation could eventuate in pooh/rabbit offering eeyore more pots of honey to craft hives for them first...
    Hm, I suppose Eeyore will only build one hive at a time... so perhaps there's some bribery/blackmail involved? Or vandalism of the competitors' hives?

    Surely one of the two will give up and move to a different field? I don't know much about economics, but itsn't there stuff about driving the other out of business or an equilibrium being reached between the two?

    Depends who sells their honey for more, and who expands the business... actually they probably eat all the honey themselves.
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    I don't think it's worth thinking about part c) further because it becomes so open-ended and we simply do not have enough information, I think admissions tutors would just want you to make a couple of suggestions as to what may happen and not go too far into it.

    IF the question was as I previously suggested, so that the yield from ALL hives decreased as more were planted by the equation, so if two hives were planted each would yield 46 pots, not hive 1 yielding 49 and hive 2 yielding 46, then the discussion for part c) would have a much stronger economics/game theory basis, it is akin to a situation where a 'tragedy of the commons' may arise. Agriculturally this makes more sense, but im not too into apiculture so can't be sure of it.
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    (Original post by Amrad)
    IF the question was as I previously suggested, so that the yield from ALL hives decreased as more were planted by the equation, so if two hives were planted each would yield 46 pots, not hive 1 yielding 49 and hive 2 yielding 46, then the discussion for part c) would have a much stronger economics/game theory basis, it is akin to a situation where a 'tragedy of the commons' may arise. Agriculturally this makes more sense, but im not too into apiculture so can't be sure of it.
    It makes more sense that if there were two hives, each would yield 46 pots - it's not like the bees learn from experience, so how can the original hive have a greater yield?

    Or maybe the bee colonies need time to expand? Although all hives would reach the same carrying capacity after a relatively short period of time, and this suggestion seems silly when you consider the given formula of 50 - n^2.
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    (Original post by Lucky number 8)
    Economists try this one:

    Pooh bear and Rabbit like honey and plan to begin producing by errecting beehives in a meadow. Only Eeyore has the skill to craft the beehives, and he agrees to make the hives for Pooh and Rabbit in exchange for two pots of honey for each hive he makes. As more hives are errected in a meadow the yield from each new hive decreases according to teh formula (50 - (n squared) ), where n is the number of hives in the meadow. Assume motivation is self interest.

    (a) How many beehives should Pooh and Rabbit buy from Eeyore?

    (b) How many pots will they each have?

    (c) Pooh and Rabbit fall out and decided to produce seperately, and Eeyore sells to them seperately. What may now happen? How many beehives will each put up? Discuss answers with explaination.
    This Q was in my PPE exam when I applied last year, except there was a part (d) which said something like "What does this tell you about the nature of competition?"
    Also, it was slightly different in that EVERY hive produced 50-n^2, which is more interesting, as by getting a new hive in part (c) you decrease how much honey the other is yielding. Eventually you start losing honey yourself as n gets big.
    So I doubt you could get into trouble for copyright infringement, as they've stolen it themselves.

    For part (c) you have to look at what happens at each stage.
    So: when they each have 2 (with 4 being the optimum number for A; differentiate) they get 2x34 each, which is 68.
    Then when, say, Pooh gets another one, they're worth 25 each, so Pooh gets 75 and Rabbit gets 50. If Rabbit gets another, so they're worth 16 each. So 3*16 each, which is 48. Rabbit would be wrong to buy another, as gets less.

    Hence, whoever gets an extra first "wins".
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    So the question was essentially as I thought it should be and the ideal solution would be co-operation.
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    (Original post by noctivaga)
    I can easily agree with you on that, my approach might seem rudimentary, and until it is taken a couple of steps further and developed into a more complete answer, it is not worth much.

    rockindemon: There is nothing in your answer I would disagree with as such, but the question is still asking what you expect the value of 'the car you are buying' (ie. one car). I guess both points of view are valid in their own sense, as long as their limitations are taken into account.
    I don't understand, as I thought you agreed with my view that it must be 1000.
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    I have the actual Pooh and Piglet question off the 2003 PPE test. The blurb is much longer than the one from your book. From the full question I calculated the optimum number as 4 and so on and so forth. This certainly seems a more "fruitful" avenue...
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    I can't do logic
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    (Original post by shiny)
    I can't do logic
    We noticed a long time ago...
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    (Original post by H&E)
    We noticed a long time ago...
    Hehe!

    Logic is boring anyway! Who wants to be logical when you can be illogical and have fun whilst doing it?!
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    (Original post by shiny)
    Hehe!

    Logic is boring anyway! Who wants to be logical when you can be illogical and have fun whilst doing it?!
    *Makes note never to cross bridge engineered by Shiny*

    nb Why do you appear offline constantly??
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    (Original post by H&E)
    *Makes note never to cross bridge engineered by Shiny*
    nb Why do you appear offline constantly??
    Hell, I wouldn't cross a bridge that I engineered!

    NB. I have super-invisibility powers :cool:
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    (Original post by shiny)
    Hell, I wouldn't cross a bridge that I engineered!

    NB. I have super-invisibility powers :cool:
    Did you mention this in either of your Oxbridge interviews?

    nb I'm most jealous of your superpowers. I demand superpowers too. Is it because you are/were a member?
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    (Original post by nooneknows)
    I have the actual Pooh and Piglet question off the 2003 PPE test. The blurb is much longer than the one from your book. From the full question I calculated the optimum number as 4 and so on and so forth. This certainly seems a more "fruitful" avenue...
    Yeah I worked that out as well, but you also have to take into account game theory. At an ideal equilibrium of 2 each, a rogue player could build one extra hive, this would net them more pots of honey, and the other player would get less. Even though the total number of honey pots has just decreased. The other player would want to fight back and build another hive, this could very well continue until there are no pots of honey at all.
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    (Original post by H&E)
    Did you mention this in either of your Oxbridge interviews?

    nb I'm most jealous of your superpowers. I demand superpowers too. Is it because you are/were a member?
    Nope! I used my super deception powers on them!

    My superpowers originate from the UK-L members. I am only Supershiny so long as people think I am their Pink Superhero!

    If you want superpowers, you're gonna need people to think you are a superhero
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    (Original post by shiny)
    Nope! I used my super deception powers on them!

    My superpowers originate from the UK-L members. I am only Supershiny so long as people think I am their Pink Superhero!

    If you want superpowers, you're gonna need people to think you are a superhero
    I've lost you. Completely.
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    (Original post by H&E)
    I've lost you. Completely.
    You need to become a sub
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    (Original post by shiny)
    You need to become a sub
    £5 a month?! Way beyond my budget.
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    (Original post by H&E)
    £5 a month?! Way beyond my budget.
    I thought you were rich?
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    (Original post by shiny)
    I thought you were rich?
    Because?
 
 
 

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