Mando is hired by a town to protect the farmers and their village from raiders, who have stolen all of their crops. One of the main differences between developing and developed countries is Institutions. Institutions are the rules placed in a society that keep parties’ behaviors in balance (such as the enforcement of the lawContinue reading “Farmers Hire Mando as Protection (The Mandalorian- Episode 4)”
Author Archives: hackenberryb
Toro Contracts Mando for a Job (The Mandalorian- Episode 5)
Mando is hired by Toro Calican, who is wanting admittance into the guild. By hiring Mando, he also licenses him. Licensing, which is an agreement that allows one party, Mando, permission to work for another party, Toro, results in a barrier to entry and in turn results in higher prices (wages). Barriers to Entry areContinue reading “Toro Contracts Mando for a Job (The Mandalorian- Episode 5)”
Mando Faces Hold-Up Problem (The Mandalorian- Episode 1)
Mando meets with Greef Karga, who he captured a few prisoners for, now faces a new price after he has already done the work. Mando must either accept imperial credits (which he does not want as the Empire has fallen) or Calamari Flan (but he will only get half of the agreed-upon amount). As heContinue reading “Mando Faces Hold-Up Problem (The Mandalorian- Episode 1)”
Mando Pays Premium for a Human Driver (The Mandalorian- Episode 1)
Mando is unwilling to ride with a Droid driver. He ends up paying more to get poor service (vehicle in disrepair) from a non-Droid driver. It is cheaper for the firm to provide Droid drivers instead of human drivers, so Mando must pay more for the human driver. This is due to the increase inContinue reading “Mando Pays Premium for a Human Driver (The Mandalorian- Episode 1)”
Mando and the Mechanic Talk About the Ship (The Mandalorian- Episode 5)
Mando has insisted that the mechanic not use Droids on his ship. This has resulted in her spending more time than necessary doing the repair work (thus increasing the costs). This is an example of non-optimal input choices. This can happen in the production processes when by law (or, as in this case, customer restrictionsContinue reading “Mando and the Mechanic Talk About the Ship (The Mandalorian- Episode 5)”
R2-D2 and C-3PO Use an Escape Pod (A New Hope)
R2-D2 and C-3PO escape from a Rebel Alliance ship via an escape pod. The Empire briefly considers the benefits of destroying the pod, but they do not because there are no lifeforms in the pod. Because of this, it is not worth it for them to shoot it down. The cost of shooting the podContinue reading “R2-D2 and C-3PO Use an Escape Pod (A New Hope)”
Luke Agrees to go to Alderaan with Ben (A New Hope)
At first, Luke doesn’t want to go to Alderaan, as he needs to stay at home with his aunt and uncle. When Luke discovers that his Aunt Beru and Uncle Owen have been killed by Empire, he now has nobody at home. The opportunity cost to Luke of leaving Tatooine is lower now that hisContinue reading “Luke Agrees to go to Alderaan with Ben (A New Hope)”
Luke and Ben Meet Han Solo (A New Hope)
Obi-Wan Kenobi takes Luke to the place with the most people to find a pilot – a bar. This is because it has the lowest search cost. To find a pilot to take them to Alderaan is challenging; however, they were able to find someone, Han Solo, fairly cheaply. Search costs are the time, energy,Continue reading “Luke and Ben Meet Han Solo (A New Hope)”
Han and Lando Reunite (The Empire Strikes Back)
Han goes to Cloud City to see his old friend, Lando, to have some repairs on his ship. Han asks Lando how his gas mine business is doing, to which Lando discusses his difficulties, which are partly due to supply and labor problems. Han then tells Lando that sounds like a responsible leader, to whichContinue reading “Han and Lando Reunite (The Empire Strikes Back)”
Darth Vader’s Motivation Methods (Return of the Jedi)
Workers of all sorts need incentives or motivation of some kind so that they will be productive. There are different ways that workers choose to motivate their employees. In this case, Darth Vader is choosing to motivate his workers by threatening them in hopes to make them be more productive. Worker motivation is important inContinue reading “Darth Vader’s Motivation Methods (Return of the Jedi)”