Market failures I

Materials for class on Monday, March 18, 2019

Contents

Slides

Download the slides from today’s lecture.

First slide

Simulation results

This simulation is an adaptation of “The Paper River,”Gail M. Hoyt, Patricia L. Ryan, and Robert G. Houston, “The Paper River: A Demonstration of Externalities and Coase’s Theorem,” The Journal of Economic Education 30, nos. 2, Spring (1999): 141–47, doi:10.2307/1183268.

 with some modifications borrowed from John Whitehead.

Clearest and muddiest things

Go to this form and answer these three questions:

  1. What was the muddiest thing from class today? What are you still wondering about?
  2. What was the clearest thing from class today?
  3. What was the most exciting thing you learned?

I’ll compile the questions and send out answers after class.