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Your neighbour Nigel is out of town on Halloween and is therefore unable to hand out candy to trick-or-treaters. Because Nigel still wants to participate
Your neighbour Nigel is out of town on Halloween and is therefore unable to hand out candy to trick-or-treaters. Because Nigel still wants to participate in Halloween, he leaves a bowl of candy by his door and a sign saying "please help yourself". Within a few minutes, a few children came and took all the candy for themselves. This is an example of:
Tragedy of the Commons
Incomplete Markets
The Free Rider Problem
Missing Markets
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