Public goods and Common Resources
Dec 20, 2007 · Why is it difficult for private industry to provide a public good? How is a streetlight (a public good) related to a positive externality? Suppose the value of a human life is $10 million dollars. Suppose the use of air bags reduces the probability of dying in a car accident over one’s lifetime from 0.2 percent to 0.1 percent. ................
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