Previous bonus - Next bonus

Packet 4: Bonus 9

A model created by these [emphasize] two economists predicts a possible “no-growth trap,” an equilibrium in which an economy stops growing due to a permanent disincentive to conduct new research. For 10 points each:
[10h] Name these two economists whose “quality ladder” model of endogenous growth predicts that “too much growth” or innovations that are “too small” may result from creative destruction under laissez-faire (“LESS-ay FAIR”) conditions.
ANSWER: Philippe Aghion (“ag-YAWN”) AND Peter Howitt
[10e] The idea of “creative destruction” was popularized by Joseph Schumpeter, an economist from this country. Friedrich Hayek was part of a “school” named for this country.
ANSWER: Austria [or Republik Österreich; accept the Austrian School]
[10m] The Aghion–Howitt Model uses a “replacement effect” from this economist’s “learning-by-doing” model of endogenous growth. This economist and John Pratt co-name a measure of absolute risk aversion.
ANSWER: Kenneth Arrow [accept the Arrow replacement effect or the Arrow–Pratt measure] (The Arrow replacement effect states that monopolists reduce innovation.)
<Toronto B, Social Science> | D. Prelims 4 - Toronto B + Harvard + Michigan + Minnesota

HeardPPBE %M %H %
2113.81100%33%5%

Back to bonuses

Conversion

TeamOpponentPart 1Part 2Part 3TotalParts
British ColumbiaColumbia A010010E
BruinChicago B0101020EM
CambridgeUCF1010020HE
CornellMaryland A010010E
Georgia Tech ASwarthmore0101020EM
Georgia Tech CIllinois B0101020EM
IndianaPittsburgh010010E
Johns HopkinsBrown010010E
MITWaterloo010010E
Maryland BVirginia Tech010010E
NYU AVanderbilt0101020EM
NYU BColumbia B010010E
Northwestern BIllinois A010010E
Ohio StateGeorgetown010010E
Penn StateGeorgia Tech B010010E
RutgersVirginia010010E
Stanford ANorthwestern A0101020EM
UC Berkeley ANorth Carolina0101020EM
UC Berkeley BStanford B010010E
UCLAToronto A010010E
WashUTexas0101020EM

Summary

TournamentEditionMatchHeardPPBE %M %H %
Main Site2026-04-17✓2113.81100%33%5%