Keyword: resource allocation
External Benefit and External Cost (transcript) (3/27/2007)
The existence of external cost and external benefit leads to misallocation of resources.
Keywords: Coase Theorem, external benefit, external cost, externality, internalization, resource allocation
Happy Hogging! (1/16/2006)
Price hikes in anticipation of shortages can lead to re-allocation of scarce resources to higher-valued uses.
Keywords: gas, hoarding, Katrina, panic buying, price gouging, radio ad spots, resource allocation, shortage
Price Signals as Guides for Resource Allocation (7/7/2006)
High prices for scarce resources ensure that these resources will be used for only high-valued purposes.
Keywords: congestion, garbage, market, Price signals, recycle, resource allocation, toll
The Harried Leisure Class (9/3/1999)
Consumers in rich countries have become harried in their futile attempt to increase the productivity of their non-work time.
Keywords: consumption, courtship, eating, gadgets, leisure, productivity, recognition, resource allocation, sex