Sunday, February 27, 2011

The Irony of the Tragedy of the Commons

"I've never seen a behavioural economics study on this, but I'm sure somebody's done it, because it seems pretty widespread: people generally prefer rules telling them something is not allowed, rather than charges making them pay for it, even if the latter are clearly more efficient at maximising social value."

Environmental regulation: The irony of the tragedy of the commons | The Economist

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