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Air pollution is the most obvious example since it is non-excludable and non-rival, and negatively affects welfare. [ 1 ] Whereas public goods are typically under-provided by decentralized decision making (the market), public bad will generally be over-provided, since the parties generating the public bad do not account for the negative effects ...
An example is of a setting where individuals have private information (for example, a labor market where the worker's own productivity is known to the worker but not to a potential employer, or a used-car market where the quality of a car is known to the seller but not to the buyer) which results in moral hazard or an adverse selection and a ...
Negative utilitarianism is a form of negative consequentialism that can be described as the view that people should minimize the total amount of aggregate suffering, or that they should minimize suffering and then, secondarily, maximize the total amount of happiness.
In terms of water supply, another example is the limited water available in arid regions (e.g., the area of the Aral Sea and the Los Angeles water system supply, especially at Mono Lake and Owens Lake). In economics, an externality is a cost or benefit that affects a party who did not choose to incur that cost or benefit.
An erosion gully in Australia caused by rabbits, an unintended consequence of their introduction as game animals. In the social sciences, unintended consequences (sometimes unanticipated consequences or unforeseen consequences, more colloquially called knock-on effects) are outcomes of a purposeful action that are not intended or foreseen.
An antithesis must always contain two ideas within one statement. The ideas may not be structurally opposite, but they serve to be functionally opposite when comparing two ideas for emphasis. [4] According to Aristotle, the use of an antithesis makes the audience better understand the point the speaker is trying to make. Further explained, the ...
Rational choice theory can be viewed in different contexts. At an individual level, the theory suggests that the agent will decide on the action (or outcome) they most prefer. If the actions (or outcomes) are evaluated in terms of costs and benefits, the choice with the maximum net benefit will be chosen by the rational individual.
Prosocial behaviour [1] is a social behavior that "benefit[s] other people or society as a whole", [2] "such as helping, sharing, donating, co-operating, and volunteering". The person may or may not intend to benefit others; the behaviour's prosocial benefits are often only calculable after the fact.