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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 work showed with the study of the bee pollinationhoney 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 negotiationcontract arrangement without government intervention:
Question 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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