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public goods econ 1
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Rival and excludable goods
Rivalry: The use of a good reduces the amount available to others. Non-excludable goods: it is physically impossible to prevent anyone from using or being affected by the good. Club good: excludable and non-rival.
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public and private public good: collective, non-rival
private good: individually used, rival territorial good: a good which affects a particular territory. beneficial territorial goods generate land rent. most users are local and pay rent.
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private communities .
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Market success in public goods
Private communities: homeowner associations, condominiums, co-ops, land trusts, shopping centers, apartment houses. They efficiently collect rentals to pay for the public goods. There are no free riders, and no double billing.
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Sympathy A feeling of affinity, accord, and empathy with a person, group, culture, organization, cause, or other entity. In the USA, churches are paid for from donations caused by sympathy. Benevolent donations can pay for non-excludable public goods such as religion.
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