Keyword: transaction costs

The Annoying Neighbor (12/21/2001)

Tit-for-tat is one way to force producers of negative externalities to internalize them.

Keywords: annoying neighbor, honking, negative externalities, transaction costs

The Tragedy of the Anticommons (8/13/1999)

When too many individuals have the right of exclusion to a scarce resource, and no one has an effective privilege of use, under-utilization may occur.

Keywords: anticommons, bundle, commons, exclusion, holding out, inclusion, Kobe, land, property rights, tragedy, transaction costs

Transaction Costs and Market Structure (2/2/2000)

The ubiquitous existence of transactions costs in the real world determines both the institutional structure within which prices are set and the level of prices.

Keywords: comparative advantage, fish market, institution, market, market structure, middleman, middlemen, price determination, specialization, transaction costs

Uber as a Two-sided Market (3/15/2015)

By reducing information cost, the internet has ushered in many novel two-sided markets.

Keywords: ads, AirBnB, FedEx, Google, infrastructure, newspaper, price structure, pricing structure, private good, public good, search engine, sharing economy, transaction costs, two-sided market, Uber

Water Disputes in California (4/14/2000)

Ambiguous property rights and high transaction costs may scuttle beneficial exchanges.

Keywords: agriculture, Colorado River, farming, Imperial Valley, property rights, transaction costs, water