Coasian problem

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Public good — For the egalitarian terms, see Common good and Public interest. In economics, a public good is a good that is nonrival and non excludable. Non rivalry means that consumption of the good by one individual does not reduce availability of the good… … Wikipedia
Coase theorem — In law and economics, the Coase theorem (pronounced /ˈkoʊs/), attributed to Ronald Coase, describes the economic efficiency of an economic allocation or outcome in the presence of externalities. The theorem states that if trade in an externality… … Wikipedia
Free-market environmentalism — is a position that argues that the free market, property rights, and tort law provide the best tools to preserve the health and sustainability of the environment. This is in contrast to the most common modern approach of proactive environmental… … Wikipedia
Tragedy of the commons — Cows on Selsley Common. The tragedy of the commons is one way of accounting for overexploitation. The tragedy of the commons is a dilemma arising from the situation in which multiple individuals, acting independently and rationally consulting… … Wikipedia
Ronald Coase — New institutional economics Born 29 December 1910 (1910 12 29) (age 100) … Wikipedia

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