Externality
A Good Fence Makes Good Neighbors (4/19/2001)
Fencing makes it easier to enforce property rights.
Busy Bees cartoon (11/2/2011)
Honey bees tell an interesting story of how businesses settle payments for spillover costs and benefits among them.
Coasian Bargaining & Property Rights (10/5/2017)
Efficient assignment of property rights could achieve efficient adverse impact without negotiation cost and Coasian bargaining.
Condom Economics (3/7/2007)
The externality and time horizon of costs and benefits bedevil college distribution of condoms.
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.
Free Riding on Preventive Health Care (8/16/2000)
Individual health insurers may be reluctant to aggressively offer smoking cessation treatment to their insured members because of high turnover of treated patients to other health insurers
Metered Consumption (3/7/2007)
Resource conservation depends on who pays and the time horizon of costs vs benefits.
One Road's Congestion Is Another Road's Revenue (12/21/2001)
Charging motorists for contributing to rush-hour congestion may be economists' dream of internalizing negative externality on toll roads but politicians' nightmare when competing highways are free.
Pollution control (transcript) (3/27/2007)
Narrated lecture on cost efficient pollution control when firms have different pollution-reduction costs.
Property Rights and Externality (7/7/2006)
Transferable and enforceable property rights encourage investment and high-valued uses.
Scoop Your Poop (11/2/2011)
Enforceable property rights reduce external costs.
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.
Systems Competition and Network Effects (9/26/2000)
A dominant network based on a near universal standard can internalize a great deal of system externality to the benefits of network users and can persist even in the face of technically superior competing networks.
The Annoying Neighbor (12/21/2001)
Tit-for-tat is one way to force producers of negative externalities to internalize them.
The Right to Pollute? (10/20/1999)
Pollution credits convert the atmosphere from a commons into private property. They can reduce pollution if the pollution cap is lower than the unrestricted total and lower the costs of reducing pollution if credits can be sold from low-cost avoiders and high-cost avoiders.
There Is No Free Parking (2/3/2007)
Free or subsidized parking has suffocated the development of mass transit and increased traffic congestion and air pollution.
To Stand or Not to Stand? (10/24/2001)
Charging a time fee for using restrooms may reduce congestion by discouraging overuse.
Tragedy of the Commons (11/2/2011)
Unlimited entry could easily lead to over-exploitation of commons resources.
Tragedy of the commons (transcript) (3/27/2007)
Narrated lecture on over-exploitation of commons resources due to unlimited entry.
Your Customers Are My Customers (11/2/2011)
When it comes to external benefits, appearance could be deceptive.