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Tragedy of the Commons
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‘Property rights’ is an essential ingredient of market economy. When the society fails to define property rights of using resources…
PAPER WEAPON
The World War II was marked for the use of exceptional and highly destructive weapons in the history. But the…
Ticket Scalping: Economic Insights
Imagine that your favorite singer has a concert tomorrow and all the tickets are sold out!! You are a great…
Moral Hazard
We may assume while forming economic models that the market has perfect information, but in the real world there exists…