1. In the article San Francisco Clamps Down on Monkey Parking App That Allows Dr
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Question
1. In the article San Francisco Clamps Down on Monkey Parking App That Allows Drivers to Auction Public Parking Spots, the author describes how an app used to allow drivers to auction off choice parking spots to the highest bidder. This action has since been disallowed by San Francisco’s city attorney Dennis Herrera. The CEO for the app suggests that regulation, rather than an outright ban, would serve everyone’s best interests: people looking for parking spots, his company, and the city. Do you agree with him? In your response, consider how collateral effects related to these auctions might affect the city. In other words, do the motivations for Herrera’s objections outweigh the benefits gained from the efficiency of the auctions? Explain your reasoning.
2. Choose two subjects regarding homeowner’s insurance policies that surprised you, and describe them. Do you believe insurance policies unfairly use moral hazard and adverse selection to their advantage? Why or why not?
Explanation / Answer
Monkey parking may be a good app for time of emergency but this app increases inequality as those who de not have extra money to spare will have lesser chance of parking or those who do not have this app will have to face more problems in getting parking space. Then squatters may also start occupying these space for extra earning and ethically it is wrong as people will start earning for property on which they have no right. So definetly motivations of Herrera outweigh the benefits of these auctions.
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