Evaluating Fairness in a Pirate Economy
On the pirate ship Royal Rover, the rules for distributing captured valuables stated that the captain and quartermaster each received two shares. Other officers, such as the master and boatswain, received one-and-a-half or one-and-a-quarter shares. A regular crew member received one single share. Critically evaluate the fairness of this distribution system. In your answer, you should justify your position by considering the potential arguments for and against this hierarchical structure from the perspectives of different crew members.
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Introduction to Microeconomics Course
The Economy 2.0 Microeconomics @ CORE Econ
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Evaluating Fairness in a Pirate Economy
The crew of the Royal Rover captures treasure worth 6,600 gold pieces. The ship's articles establish the following distribution system: the Captain and the Quarter Master each receive two shares of the total; four officers each receive one-and-a-quarter shares; and 24 regular crew members each receive a single share. Based on this system, what is the value, in gold pieces, of a single share (a 'dividend')?
Analyzing a Proposed Change to the Royal Rover's Articles
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The articles of the pirate ship 'Royal Rover' defined a specific hierarchy for distributing captured treasure. Match each role on the ship to the number of shares of booty they were entitled to receive.
Dispute Resolution Under Fixed Economic Rules
A pirate ship's articles dictate that for any captured treasure, the captain receives two shares and a regular crew member receives one share. True or False: If the total value of a captured treasure were to double, the absolute difference in value, measured in gold pieces, between the captain's portion and a regular crew member's portion would also double.
The articles of a pirate ship define how captured treasure is distributed. The captain and quartermaster each get 2 shares, four officers each get 1.5 shares, and 30 regular crew members each get 1 share. If the crew captures a treasure worth 10,000 gold pieces, what is the total value, in gold pieces, distributed to all of the regular crew members combined?
Lorenz Curve for Spoils Distribution on the Royal Rover