1.3. The economic theory of public goods makes a very clear prediction: If the benefits of some...

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1.3. The economic theory of public goods makes a very clear prediction: If the benefits of some action go to strangers, not to yourself, then you won't do that action. Economists have run dozens of experiments testing out this prediction. Nobel laureate Elinor Ostrom sums up the results in a 2000 article in the journal of Economic Perspectives.

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Modern Principles Microeconomics

ISBN: 9781429239998

2nd Edition

Authors: Tyler Cowen, Alex Tabarrok

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