Tragedy of the Commons: Efficiency Rents to the Rescue of Free-Road Inefficiencies and Paradoxes

Paul Samuelson

Chapter 3 in Does Economic Space Matter?, 1993, pp 71-80 from Palgrave Macmillan

Abstract: Abstract If lands are available to all, people under push-shove equilibrium will allocate themselves among different acres to equalize average rather than marginal labour productivities. By contrast, if the land is owned by numerous decentralized proprietors, the auction rents they charge will generally increase total social output by shifting workers from places of lower marginal productivity towards those of higher mar­ginal productivity. (See H. Scott Gordon, 1954; Paul Samuelson, 1974, 1990; Martin Weitzman and Jon Cohen, 1975.)

Keywords: Traffic Flow; Public Utility; Open Road; Link Road; Braess Paradox (search for similar items in EconPapers)
Date: 1993
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DOI: 10.1007/978-1-349-22906-2_4

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