Puzzles: Cider in Your Ear, Continuing Dilemma, The Last Shall Be First, and More

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Abstract
In presenting economic puzzles, I have three goals in mind: some puzzles are chosen to stimulate research; others offer examples that will help undergraduate and graduate teaching; all should provide quality distractions during seminars. As usual, this feature begins with several speed puzzles; answers can be found at the end of the problems. Following are several longer puzzles, for which readers are challenged to submit their own answers. The puzzles in this issue focus on betting and voting, and once again include a prisoners' dilemma problem. The column ends with reader mail, including the submitted solutions to “The Best Location in Manhattan,” Puzzle 4 in the Summer 1987 issue of this journal.