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Public good


 

In economics, a public good is a good that is hard or even impossible to produce for private profit, because the market fails to account for its large beneficial externalities. By definition, a public good possesses two properties:

External sources

  • Coase, Ronald (1974), The Lighthouse in Economics, Journal of Law and Economics 17 (2), 357–376
◄ Public good: See also
Public good: External Links ►

~ Table of Content ~

►Introduction
►Examples of Public Goods
►Subtypes of Public Goods
►The Free Rider Problem
►Possible solutions to the Free Rider problem
►Efficient production levels of public goods
►See also
►External sources
►External Links

 

 

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