June 2011
Intermediate to advanced
150 pages
4h 22m
English
Content preview from Managerial EconomicsBecome an O’Reilly member and get unlimited access to this title plus top books and audiobooks from O’Reilly and nearly 200 top publishers, thousands of courses curated by job role, 150+ live events each month,
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Public Goods and the Risk of Free Rider Consumers
Most goods and services that are purchased are such that one person or a very limited group of persons can enjoy the consumption of the good or, for a durable good, the use of that good at a specific time. For example, if a consumer purchases an ice cream bar, she can have the pleasure of eating the ice cream bar or share it with perhaps one or two other people at most. A television set can only be in one home at any given time. Economists call such products rival goods.
In the case of rival goods, the party consuming the product is easily linked to the party that will purchase the product. Whether the party purchases the product depends on whether the value obtained is at least as high as the ...
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I'm always learning. So when I got on to O'Reilly, I was like a kid in a candy store. There are playlists. There are answers. There's on-demand training. It's worth its weight in gold, in terms of what it allows me to do.