Question
This economist drew on work by Paul Samuelson to develop a canonical version of the overlapping generations model. For 10 points each:
[10m] Name this economist who modeled a search economy via a scenario in which individuals only climb trees to pick coconuts if they believe enough other people are also doing so.
ANSWER: Peter Diamond [or Peter Arthur Diamond; accept Diamond coconut model]
[10e] Overlapping generations models are often used to model this phenomenon, which is the subject of the Solow–Swan model.
ANSWER: economic growth [or economic growth rate; accept long-run economic growth]
[10h] Diamond’s overlapping generations model can display this type of inefficiency, in which the economy is constantly investing more than it is earning in profit.
ANSWER: dynamic inefficiency
Data
| Team | Opponent | Part 1 | Part 2 | Part 3 | Total |
|---|---|---|---|---|---|
| Brown A | Georgia Tech B | 10 | 10 | 0 | 20 |
| Chicago A | Vanderbilt A | 10 | 10 | 0 | 20 |
| Claremont A | Minnesota B | 0 | 10 | 0 | 10 |
| Columbia B | Toronto A | 0 | 10 | 0 | 10 |
| Cornell A | Chicago B | 10 | 10 | 0 | 20 |
| Cornell B | Northwestern A | 0 | 10 | 0 | 10 |
| Georgia Tech A | Chicago C | 10 | 10 | 0 | 20 |
| Harvard A | Houston A | 10 | 10 | 10 | 30 |
| Illinois A | Duke A | 0 | 10 | 0 | 10 |
| MIT A | Penn State A | 10 | 10 | 10 | 30 |
| Maryland A | Penn A | 10 | 10 | 0 | 20 |
| McGill A | Rutgers B | 0 | 0 | 0 | 0 |
| Michigan A | Florida B | 0 | 10 | 0 | 10 |
| Minnesota A | Rutgers A | 10 | 10 | 0 | 20 |
| North Carolina A | Virginia A | 10 | 10 | 0 | 20 |
| Ohio State A | WUSTL B | 10 | 10 | 0 | 20 |
| Stanford A | NYU A | 10 | 10 | 0 | 20 |
| Texas A | UC Berkeley B | 10 | 0 | 0 | 10 |
| UC Berkeley A | Iowa State A | 0 | 10 | 0 | 10 |
| WUSTL A | Purdue A | 10 | 10 | 0 | 20 |
| Yale A | Columbia A | 10 | 10 | 0 | 20 |
| Yale B | Indiana A | 10 | 0 | 0 | 10 |