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This 1 9 7 3 work showed with the study of the bee pollination / honey industry there is the possibility of externalities being reciprocal.

This 1973 work showed with the study of the bee pollination/honey industry there is the possibility of externalities being reciprocal. The study showed as long as corresponding property rights are clearly delineated, or transaction cost is zero, externalities can be internalized through private negotiation/contract arrangement without government intervention:
Question 26 options:
Laffer's Laffer Curve
Cheung's Fable of the Bees
Mandeville's Fable of the Bees
Lloyd's Tragedy of the Commons

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