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Free-rider problem. In economics, the free-rider problem is a type of market failure that occurs when those who benefit from resources, public goods and common pool resources do not pay for them [ 1] or under-pay. Examples of such goods are public roads or public libraries or other services or utilities of a communal nature.
Rider (legislation) In legislative procedure, a rider is an additional provision added to a bill or other measure under the consideration by a legislature, which may or may not have much, if any, connection with the subject matter of the bill. [ 1]
The free rider problem is a primary issue in collective decision-making. [36] An example is that some firms in a particular industry will choose not to participate in a lobby whose purpose is to affect government policies that could benefit the industry, under the assumption that there are enough participants to result in a favourable outcome ...
The Logic of Collective Action: Public Goods and the Theory of Groups is a book by Mancur Olson Jr. published in 1965. It develops a theory of political science and economics of concentrated benefits versus diffuse costs. Its central argument is that concentrated minor interests will be overrepresented and diffuse majority interests trumped ...
Collective action problem. A collective action problem or social dilemma is a situation in which all individuals would be better off cooperating but fail to do so because of conflicting interests between individuals that discourage joint action. [ 1][ 2][ 3] The collective action problem has been addressed in political philosophy for centuries ...
Notable economists. Lists. Business portal. Money portal. v. t. e. The tragedy of the commons is the concept which states that if many people enjoy unfettered access to a finite, valuable resource such as a pasture, they will tend to overuse it and may end up destroying its value altogether. Even if some users exercised voluntary restraint, the ...
Advocacy group. Advocacy groups, also known as lobby groups, interest groups, special interest groups, pressure groups, or public associations, use various forms of advocacy or lobbying to influence public opinion and ultimate public policy. [ 1] They play an important role in the development of political and social systems.
Earmark (politics) An earmark is a provision inserted into a discretionary spending appropriations bill that directs funds to a specific recipient while circumventing the merit-based or competitive funds allocation process. Earmarks feature in United States Congress spending policy, and they are present in public finance of many other countries ...