Weather Advisory for Tuesday 02-13-07
Winter Weather ADVISORY: Tuesday: 1 am until 1 pm
The hour is upon us. As students of economics, tonight, we are faced with a decision that touches both on positive and normative economics. Our decision is whether or not to listen to what our local news resources are telling us about tomorrow’s weather forecast. In listening to our news sources we might reluctantly have to miss the exam in Economics 350, which would be a trade off that included multiple different points of identity.
As can be read on the WTAP website (http://www.wtap.com/breakingnews/5745461.html) the city of Marietta is, indeed, no longer within a state of winter weather watch, but winter weather advisory. This means that tomorrow our city will be seeing snow, sleet and freezing rain all before the early afternoon hours. The Red Cross website (http://www.redcross-cleveland.org/fileshare/pdf/2006%20Winter%20Release.pdf) warns us to “stay indoors, except in absolute emergencies.” They also have a “to do” task list of things that one should have in case of different emergency situations: water, food, first aid, clothing, bedding, tools, emergency supplies, etc. This one phenomenon, winter weather preparedness, is an important topic of positive and normative economics.
People act differently in states of emergency than they would otherwise, and because of this known discrepancy in the behavioral norm a new market opens up. So here we have profit motives incorporated with these weather advisories that actually help to bring something that perhaps without the field of economics was once a nonmarket issue very much into the focus of our global and domestic marketplace.
The question still remains: shall we as students take the risk of attending class on Tuesday morning at 9:30 am which will be right around the middle section of this snow and sleet storm we will be in? One trade off that immediately comes to my mind is the value of my car and if the 15 minute commute to school and the test I will take when I arrive will be worth the downside of what could become my winter weather fate.
Labels:
Economics and Weather
4 comments:
Anna makes a very good point. While the whole reason we are in college is to get an education, what difference is it going to make if her "winter weather fate" does not allow her to reach her Environmental Econ destination. Tough situation. (I might encourage readers to leave a little bit earlier because a zero on an exam sounds just as appealing as driving through a blizzard).
Interesting analysis of the winter weather ADVISORY. However, in response to Sotiria's comment, Professor Delemeester takes into account that their are differing opportunity costs among all of his students. Only the best three of the four exams you take will count, meaning that if you value your safety over the numerical value of the grade you receive because of this winter advisory, then you can stay home and enjoy playing in the snow! :)
Well, JP, some of us don't really have a choice in the matter of whether we will make it to the exam or not. Let me explain. I live on the edge of Harmar Hill and while everyone else in the great city of Marietta has to worry about icy roads and getting in a car accident, I have to worry about icy roads and sliding off the hill! I'm not joking. It's happened before. And yes I have actually been stuck up on the hill and unable to leave for a day or so before. So when I get ready to leave on a day like today, I have to take the weather advisory to heart a bit more than most.
Sam, no doubt commuters face a more daunting choice in whether to drive to campus in such nasty weather, but that does not negate JP's point about opportunity costs. We make choices between our safety and convenience all the time. How much are you willing to pay for added safety? Would you be willing to purchase a tank to cruise around town in?
What do you think a teacher's policy should be regarding makeup exams due to events such as bad weather? I dislike giving makeups because it's more work for me. That's why I allow students to drop an exam score--figuring that's a low cost way of dealing with such situations.
Post a Comment