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Welfare economics / Social cost / Externality / Game theory / Market failure / Economics / Costs
Date: 2013-11-25 09:59:48
Welfare economics
Social cost
Externality
Game theory
Market failure
Economics
Costs

The Externalities Game (TEG) To obtain a deeper understanding of the concepts reviewed so far, class time will be devoted to playing the Externalities Game. By definition, an externality is a second party effect arising

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