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Lecture 11

EC120 Lecture Notes - Lecture 11: Excludability, Externality, Private Good


Department
Economics
Course Code
EC120
Professor
All
Lecture
11

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

Excludability:  !"#
!
Rival in Consumption:  !"$
$
Public Goods: %
&#
'()
o* 
o+
,"!!
'-!,"!
Common Resources: %
#
not
&
,!&
"##
')
o"
o!
o."" 
Club Goods:%
&

#
Private Goods: %
&#
./)
o0- &1

o""#,2
(&2
oFree Rider: %"
#- !
#! 
o+ 3 4, 
1
o,  &
o"#5
The Dicult Job of Cost-Bene#t Analysis.
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