Published on Real-World Economics Review Blog, by Editor / from June Sekera, July 9, 2014.
… 4. The Three Types of Public Goods:
- Category #1: No effective market. In this category are goods and services that market-based suppliers lack incentive to invest in producing either because:
- a) their benefits are spread so broadly that their value cannot easily be captured in an exchange between an individual buyer and seller so it is impractical or impossible to charge users individually. For such goods and services, collective payment is more practical, or it is the only way they will be produced. Continuer la lecture de « Re-thinking the Definition of Public Goods »