Public Good

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A Public Good is an good that is both a non-excludable good and a non-rivalrous good (in that individuals cannot be effectively excluded from use and where use by one individual does not reduce availability to others).



References

2014

  1. For current definitions of public goods see any mainstream microeconomics textbook, e.g.: Hal R. Varian, Microeconomic Analysis ISBN 0-393-95735-7; Mas-Colell, Whinston & Green, Microeconomic Theory ISBN 0-19-507340-1; or Gravelle & Rees, Microeconomics ISBN 0-582-40487-8.
  2. Rittenberg and Tregarthen. Principles of Microeconomics: Chapter 6, Section 4. pp. 2 [1] Accessed June 20, 2012