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By: Sara Fazal, Jasmine Hui, and Emily Doan
Public Goods-
Non- Excludability
Jointly Consumed
Non- Rejectability
Examples-
Lighthouses
Parks
Street Lights
Private Goods-
Exclusive
Pay a Fee
Not provided for you
Examples-
Personal Electronics
Clothes
Food
"Free Rider Problem." Investopedia. N.p., n.d. Web. 14 July
2015.
Mata, Vernhis. "Social Dilemma- Free Rider Problem."
Weblog post. Everyday Sociology. Baruch College, 8 Aug. 2012. Web. 14 July 2015.
"Capitalism 2.0: The Free Rider Problem." Weblog post. One Million
by One Million Blog. Sramana Mitra, 26 Sept. 2011. Web. 14 July 2015.
Pettinger, Tejvan. "Free Rider Problem." Weblog post. Economics
Help. N.p., 22 May 2011. Web. 14 July 2015.
Wigmore, Ivy. "Tragedy of the Commons." Whatis.com. TechTarget,
Aug. 2013. Web. 14 July 2015.
Everyday:
Sneaking into a concert without paying admission.
Political:
Using National Security, when you don't pay taxes, but still take the benefit of the protection they provide.
- Tragedy of the Commons
- Goods becoming Private
- Tighter restrictions
- Non-Sustainability
- Laziness
- Incentives
- Sanctions
- Force
- Legislation/Laws
Definition:
Occurs when individuals exploit a shared resource to the extent that demand overwhelms supply and the resource becomes unavailable to some or all.
Definition:
A situation where some individuals in a population either consume more than their fair share of a common resource, or pay less than their fair share of the cost of a common resource.
Image by Tom Mooring