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EXTERNALITIES AND PUBLIC GOODS √ Defining Externalities √ Externalities and Allocative Efficiency √ Traditional Ways of Coping with Externalities √ Property Rights, Allocation, and the Coase Theorem √ Attributes of Public Goods √ Efficient Provision of Public Goods √ Lindahl Pricing of Public Goods √ Revealing the Demand for Public Goods: The Free Rider Problem √Summary √Problems LIMITS OF THE MARKET
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√ Allocation of Time √ A Mathematical Analysis of Labor Supply √ Individual Supply Curve for Labor √ Market Supply Curve for Labor √ Other Uses of the Time Allocation Models√ Occupational Choice and Compensating
Wage Differentials √ Labor Unions √ Summary√ Problems
LABOR SUPPLY
√ Capital and the Rate of Return √ Determination of the Rate of Return √ The Firm's Demand for Capital √ Present Discounted Value Approach to
Investment Decisions √ Optimal Resource Allocation over Time√ Labor Unions √ Summary√ Problems√ Appendix to Chapter 23 The Mathematics of
Compound Interest
CAPITAL
EXTERNALITIES AND PUBLIC GOODS√Defining Externalities √Externalities and Allocative Efficiency √Traditional Ways of Coping with Externalities
√Property Rights, Allocation, and the Coase Theorem
√Attributes of Public Goods √Efficient Provision of Public Goods√Lindahl Pricing of Public Goods √Revealing the Demand for Public Goods: The Free Rider Problem
√Summary√Problems
LIMITS OF THE MARKET
√ Social Welfare Criteria √ Social Welfare Functions √ The Arrow Impossibility Theorem √ Direct Voting and Resource Allocation √ Representative Government √ Rent Seeking √ Summary√ Problems
PUBLIC CHOICE THEORY
