Question:
Public goods are goods that, if supplied at all, can be enjoyed by people who have not paid for them- for example, street lights on a public road. Such goods are regarded as a problem because the apparently rational strategy for any individual is to wait for someone else to pay for their supply; but if everyone does this, the goods will never be supplied, even if they are collectively beneficial. See free riding.
Author: Samuel AguirreAnswer:
Public goods problem
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