Keyword: externality
Coasian Bargaining & Property Rights (10/5/2017)
Efficient assignment of property rights could achieve efficient adverse impact without negotiation cost and Coasian bargaining.
Congestion Pricing (1/10/2007)
Road tolls that vary directly with congestion have reduced peak-hour traffic volume in Singapore and Stockholm by forcing commuters to internalize congestion cost.
External Benefit and External Cost (11/2/2011)
External cost and external benefit exist because some property rights have not been clearly defined and enforced. Their existence leads to misallocation of resources.
External Benefit and External Cost (transcript) (3/27/2007)
The existence of external cost and external benefit leads to misallocation of resources.
Games people play (transcript) (3/27/2007)
Narrated lecture on multi-party games involving binary choices.
Property Rights and Externality (7/7/2006)
Transferable and enforceable property rights encourage investment and high-valued uses.
Sharp Shooters - nudging in action cartoon (10/8/2017)
If you want your toilet floor clean, make urinal use into a target practice. A little nudging can go a long way.
Spent Guns (3/8/2001)
Recycling used guns could decrease the cost of replacing old guns for police departments, but only at the risk of increasing gun crimes by making used guns cheaper.
Spillovers Are Not Always Externalities (6/22/2006)
External costs or benefits exist only if property rights have not been clearly defined and/or when the negotiation or enforcement cost exceeds damage.
Tragedy of the commons (transcript) (3/27/2007)
Narrated lecture on over-exploitation of commons resources due to unlimited entry.