Irrelevant Externality Angst
Abstract
Public goods are perplexing because insuperable transaction costs are encountered when optimization requires comprehensive negotiation among large populations of beneficiaries. Though scrutiny is certainly warranted, private internalization of public goods externalities is common. Even when many parties can freely utilize the good, if most experience a real but marginally irrelevant external effect, private interactions among the few who...
Paper Details
Title
Irrelevant Externality Angst
Published Date
Oct 1, 2007
Volume
19
Issue
1
Pages
3 - 18
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