(微观经济学英文课件)Chap11 Public Goods and Common Resources
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(微观经济学英文课件）Chap11 Public Goods and Common Resources
Most goods in our economy are allocated in markets by price… But we still can enjoy our playgrounds, parks and parades So we need the government
This creates a negative externality. Question:How to solve the problem?
Why Isn’t the Cow Extinct?(but why wild elephant face the challenge?)
Private Ownership and
Yes
• •
•
Rival?
No
Natural Monopolies
• •
•
Excludable?
No
Common Resources Public Goods
•
•
•
•
•
•
Harcourt, Inc. items and derived items copyright © 2001 by Harcourt, Inc.
To us?
Some students occupy the seats in the library How to solve traffic jam problem?
Harcourt, Inc. items and derived items copyright © 2001 by Harcourt, Inc.
The Free-Rider Problem
A free-rider is a person who receives the benefit of a good but avoids paying for it.
Excludability
People can be prevented from enjoying the good.(…can you prevent another one to use it?)
Rivalness
One person’s use of the good diminishes another person’s enjoyment of it.
• Fish in the ocean
• National defense
• The environment
• General knowledge
• Congested nontoll • Uncongested nontoll
roads
roads
1. Public Goods
Such as: National Defense Basic Research (not patent)
Types of Goods
Yes
Excludable?
No
Rival?
Yes
wenku.baidu.comNo
Private Goods
• Ice- cream cones • Clothing
•
Natural Monopolies
• Fire protection •
• Uncongested toll
roads
Common Resources Public Goods
Harcourt, Inc. items and derived items copyright © 2001 by Harcourt, Inc.
The Different Kinds of Goods
group them according to two characteristics: Is the good excludable? Is the good rival?
Harcourt, Inc. items and derived items copyright © 2001 by Harcourt, Inc.
Cost-Benefit Analysis
Governments provide public goods, based upon cost-benefit analysis. It estimates the total costs and benefits of a good to society as a whole.
Harcourt, Inc. items and derived items copyright © 2001 by Harcourt, Inc.
Tragedy of the Commons
The Tragedy of the Commons is a story with a general lesson: Common resources tend to be used excessively
The government can decide to provide the public good with tax revenue if the total benefits exceed the costs.
2. Common Resources
Such as: Clean air and water Congested roads Fish, whales, and other wildlife
Types of Goods
Rival?
Yes
No
Yes
• •
• •
•
•
Excludable?
No
• •
• •
•
•
Harcourt, Inc. items and derived items copyright © 2001 by Harcourt, Inc.
Types of Goods
Yes
Private Goods
the Profit Motive!
Importance of Property Rights
The market fails to allocate resources efficiently when property rights are not well-established. the government can potentially solve the problem.
Most goods in our economy are allocated in markets by price… But we still can enjoy our playgrounds, parks and parades So we need the government
This creates a negative externality. Question:How to solve the problem?
Why Isn’t the Cow Extinct?(but why wild elephant face the challenge?)
Private Ownership and
Yes
• •
•
Rival?
No
Natural Monopolies
• •
•
Excludable?
No
Common Resources Public Goods
•
•
•
•
•
•
Harcourt, Inc. items and derived items copyright © 2001 by Harcourt, Inc.
To us?
Some students occupy the seats in the library How to solve traffic jam problem?
Harcourt, Inc. items and derived items copyright © 2001 by Harcourt, Inc.
The Free-Rider Problem
A free-rider is a person who receives the benefit of a good but avoids paying for it.
Excludability
People can be prevented from enjoying the good.(…can you prevent another one to use it?)
Rivalness
One person’s use of the good diminishes another person’s enjoyment of it.
• Fish in the ocean
• National defense
• The environment
• General knowledge
• Congested nontoll • Uncongested nontoll
roads
roads
1. Public Goods
Such as: National Defense Basic Research (not patent)
Types of Goods
Yes
Excludable?
No
Rival?
Yes
wenku.baidu.comNo
Private Goods
• Ice- cream cones • Clothing
•
Natural Monopolies
• Fire protection •
• Uncongested toll
roads
Common Resources Public Goods
Harcourt, Inc. items and derived items copyright © 2001 by Harcourt, Inc.
The Different Kinds of Goods
group them according to two characteristics: Is the good excludable? Is the good rival?
Harcourt, Inc. items and derived items copyright © 2001 by Harcourt, Inc.
Cost-Benefit Analysis
Governments provide public goods, based upon cost-benefit analysis. It estimates the total costs and benefits of a good to society as a whole.
Harcourt, Inc. items and derived items copyright © 2001 by Harcourt, Inc.
Tragedy of the Commons
The Tragedy of the Commons is a story with a general lesson: Common resources tend to be used excessively
The government can decide to provide the public good with tax revenue if the total benefits exceed the costs.
2. Common Resources
Such as: Clean air and water Congested roads Fish, whales, and other wildlife
Types of Goods
Rival?
Yes
No
Yes
• •
• •
•
•
Excludable?
No
• •
• •
•
•
Harcourt, Inc. items and derived items copyright © 2001 by Harcourt, Inc.
Types of Goods
Yes
Private Goods
the Profit Motive!
Importance of Property Rights
The market fails to allocate resources efficiently when property rights are not well-established. the government can potentially solve the problem.