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Showing 1 to 2 of 2 for “"Internalization of externalities"”.
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Internalizing externalities: Roles of networks, clubs and policy commitments
Externalities arising from actions of one player in the economy and directly affecting the well-being of another are ubiquitous. In these situations, market equilibria often fail to be efficient. This dissertation explores the roles of networks, clubs and policy commitments in the internalization …
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Computational Methods in Natural Resource Economics: Agent-Based Modeling and Hotelling's Rule
… Hotelling's Rule identifes the expected behavior of a market for a nonrenewable resource. The statement is simple - marginal profit will increase at the prevailing rate of interest - but the implications are far-reaching and not broadly understood. Agent-based modeling is a computer modeling and …