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The decisions of many individuals and social groups, taken according to well-defined objectives, causes serious social and environmental problems in spite of following the dictates of economic rationality. There are many examples of serious problems for which there are no appropriate solutions...
Persistent link: https://www.econbiz.de/10005398915
Unlike the typical issue in which optimality requires some amount of local public goods provided in every town/locality, determining the best location for an indivisible local collective good, is not straightforward by merely appealing to the Pareto efficiency criterion. If two cities are...
Persistent link: https://www.econbiz.de/10008472371