False Incentives, Real Harm
Lecture no. 5 from the course: Thinking like an Economist: A Guide to Rational Decision Making
Taught by Professor Randall Bartlett | 32 min | Categories: The Great Courses Plus Online Economics & Finance Courses
Two case studies involving tragic fires help you grasp two classic economic situations—the Tragedy of the Commons and the difficulties of providing a public good. Then, apply what you have learned to see how an economist would think about the even larger problem of global climate change.