S11-public-goods - Public goods ECON 201 ECON 201 1 / 16...

Info iconThis preview shows pages 1–6. Sign up to view the full content.

View Full Document Right Arrow Icon
ECON 201 1 / 16 Public goods ECON 201
Background image of page 1

Info iconThis preview has intentionally blurred sections. Sign up to view the full version.

View Full DocumentRight Arrow Icon
Public goods Public goods Two properties of goods Taxonomy Examples of free riding games Example 1 Normal form Version 1 Version 2 Example 2: housework Analysis Illustration Example 3: hiring guards (continuous), p625 Corner solution Diagram Fig 17.6 ECON 201 2 / 16
Background image of page 2
Two properties of goods Public goods Two properties of goods Taxonomy Examples of free riding games Example 1 Normal form Version 1 Version 2 Example 2: housework Analysis Illustration Example 3: hiring guards (continuous), p625 Corner solution Diagram Fig 17.6 ECON 201 3 / 16 rivalry: one person’s consumption does not prevent consumption of the same unit by another excludability: it is possible to prevent non-payers from consuming Private goods are rival and excludable Public goods are nonrival, and are sometimes also nonexcludable
Background image of page 3

Info iconThis preview has intentionally blurred sections. Sign up to view the full version.

View Full DocumentRight Arrow Icon
Background image of page 4
Examples of free riding games Public goods Two properties of goods Taxonomy Examples of free riding games Example 1 Normal form Version 1 Version 2 Example 2: housework Analysis Illustration Example 3: hiring guards (continuous), p625 Corner solution Diagram Fig 17.6 ECON 201 5 / 16 1. hiring a guard (discrete), p627 2. housework 3. hiring guards (continuous), p625
Background image of page 5

Info iconThis preview has intentionally blurred sections. Sign up to view the full version.

View Full DocumentRight Arrow Icon
Image of page 6
This is the end of the preview. Sign up to access the rest of the document.

This note was uploaded on 05/24/2011 for the course ECON 201 taught by Professor Paulclacott during the Fall '10 term at Victoria Wellington.

Page1 / 17

S11-public-goods - Public goods ECON 201 ECON 201 1 / 16...

This preview shows document pages 1 - 6. Sign up to view the full document.

View Full Document Right Arrow Icon
Ask a homework question - tutors are online