The Concise Encyclopedia of Economics begins its article on public goods and externalities with the statement that “most economic arguments for government intervention are based on the idea that the ...

In the 1930s, a colonial settler in Kenya who hired the so called natives to work on his large estate wrote that in spite of enviable physical qualities, many Africans lacked resistance to psychic ...

We seek to analyze the extent and sources of network externalities for the automated clearinghouse (ACH) electronic payments system using a quarterly panel data set on individual bank adoption and ...

There are differences between private returns or costs and the costs or returns to society as a whole Consumption, production, and investment decisions of individuals, households, and firms often ...