FREAKONOMICS

Freakonomics

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Freakonomics

Q1 # (97)

Given a person records of wrestler, he envisaged that the wrestler will win the upcoming wrestling match or not. He carried out this assessment for those wrestlers who has a finely balanced between success and failure. Levitt concluded that cheating was likely to happen when a wrestler succeeded with greater frequency than his past record might signify. Hence, the answer turned out to be that both Sumo wrestler and teachers were cheating. Thus, Levitt reached to the conclusion that paying off teachers to influence wrong activities and Sumo wrestlers are structured, so they are expectant to cheat (Levitt & Dubner, 2011, pp.25-207).

Q2 # (92)

Before exposure to its secret, Klan had been powerful as it was not known that where and when it would strike. The actions of most blacks were constrained, as they were unaware of the fact that who would be the next target, and people help them who were afraid of being KKK's next target. He has liable for its illegal activities, as the membership was trustworthy and had secret mode of communication. Such communication means was essential to kept the illegal activities undisclosed, and whoever infringed the secrecy have to bear consequences (Marianne & Zavodny, 2002, pp.4-53).

Q3# (99)

The term conventional wisdom can be defined as the unquestioned belief that most people employ to describe an economic and social phenomenon. On the other hand, conventional wisdom is set of “facts” regarding a specific circumstance that individuals expediently suppose are true. It is generally alleged that people engaged in illegal activities like dealing drugs because it is very profitable business for all who are associated with drug dealing business. Other example, a number of people consider that because the particular lecturer in a college merely teaches two-three courses a week, she just works for six-nine hours a week.

Q4 # (96)

In the 1980s when crack was very profitable, rival groups had killed many dealers and many of them were incarcerated by the police force. It was hard to be a dealer and to survive in these circumstances. There was an immense increase in price competition, when dealers started competing with each other by charging lower prices during 1990s. There was a drastic decreased in the profits margins rather than an increase that a number of dealers did not like or desire to take the risk of being imprisoned or killed, consequently crime rate decreased (DiNardo, 2006, pp. 2-12).

Q5 # (100)

Hazard symbolizes the risk which is objectively determined that is the likelihood of a certain unwanted incident or occurrence. Outrage refers to the extent of emotional reaction by individuals to the occurrences of an event. Simply stating people assess risks not on technical seriousness (outrage factors), but on metrics. In combination they shape the perceived and subjective risk people link with a certain occasion. This reliance on how large the factors of outrage are, individuals can consider event 1 more risky as compared to event 2. Although, the likelihood of occurrence ...