Publication: Journal of Economic Education
Volume: Volume 33, No. 4
Issue: Fall 2002
Pages: 327-332
Author(s): Thomas P. Andrews (West Chester University)
Address (Principal Author):Thomas P. Andrews
Assistant Professor
Department of Economics and Finance
West Chester University
West Chester, PA 19383-2214
Tel: (610) 436-1082
Fax: (610) 436-2592
Internet Address (Principal Author): Tandrews@wcupa.edu
Title: The Paper River Revisited: A Common Property Externality Exercise
Abstract: This simulation illustrates the application of the Coase theorem to solve an externality problem in which multiple students attempt to negotiate property rights to a productive resource. Because students do not work in pairs, this simulation provides a realistic extension of the original Paper River exercise that appeared in this journal in spring 1999.
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