Free Rider Problem During the Covid-19 Pandemic

2022 ◽  
pp. 1-6
Author(s):  
Bryan K. C. Choy ◽  
Jose C. Yong
Keyword(s):  
Free Rider ◽  
Free Rider Problem

How do Optimistic Individuals Affect Insurance Advertisements?

2020 ◽  
Vol 14 (2) ◽  
Author(s):  
Yoichiro Fujii ◽  
Michiko Ogaku ◽  
Mahito Okura ◽  
Yusuke Osaki
Keyword(s):  
Maximum Level ◽  
Optimal Level ◽  
Insurance Premium ◽  
Free Rider ◽  
Free Rider Problem ◽  
Accident Probability ◽  
Insurance Firms ◽  
The Difference ◽  
Accident Probabilities ◽  
Equilibrium Number

AbstractSome people have optimistic expectations regarding their accident probability, and thus, refrain from purchasing adequate insurance. This study investigates how insurance firms use advertisements to lower the ratio of optimistic individuals in the market. The main results are as follows: first, the optimal level of advertisements is maximized when the insurance premium is moderate. Second, the maximum level of advertisement varies according to the degree of optimism, which is measured by the difference between accurate and optimistic accident probabilities. Third, the advertisement decision is affected by the free-rider problem, and the equilibrium number of insurance firms with advertisement is always larger than that of firms without advertisement in a competitive insurance market.

The Free-Rider Problem: A Survey

1979 ◽  
Vol 55 (2) ◽  
pp. 95-107 ◽  
Author(s):  
JOHN McMILLAN
Keyword(s):  
Free Rider ◽  
Free Rider Problem

The Battle over Patents

2021 ◽  
Keyword(s):  
Division Of Labor ◽  
Market Value ◽  
Historical Record ◽  
Free Rider ◽  
Property Right ◽  
Economic Surplus ◽  
Free Rider Problem ◽  
The Past ◽  
Inventive Activity ◽  
Patent Systems

Do patents facilitate or frustrate innovation? Lawyers, economists, and politicians who have staked out strong positions in this debate often attempt to validate their claims by invoking the historical record—but they typically get the history wrong. The purpose of this book is to get the history right by showing that patent systems are the product of contending interests at different points in production chains battling over economic surplus. The larger the potential surplus, the more extreme are the efforts of contending parties, now and in the past, to search out, generate, and exploit any and all sources of friction. Patent systems, as human creations, are therefore necessarily ridden with imperfections; nirvana is not on the menu. The most interesting intellectual issue is not how patent systems are imperfect, but why historically US-style patent systems have come to dominate all other methods of encouraging inventive activity. The answer offered by the essays in this volume is that they create a temporary property right that can be traded in a market, thereby facilitating a productive division of labor and making it possible for firms to transfer technological knowledge to one another by overcoming the free-rider problem. Precisely because the value of a patent does not inhere in the award itself but rather in the market value of the resulting property right, patent systems foster a decentralized ecology of inventors and firms that ceaselessly extends the frontiers of what is economically possible.

Who Sings in the Heavenly Chorus? The Shape of the Organized Interest System

2012 ◽  
Author(s):  
Kay Lehman Schlozman ◽  
Sidney Verba ◽  
Henry E. Brady
Keyword(s):  
Free Rider ◽  
National Politics ◽  
Pressure System ◽  
Federal Policies ◽  
Systematic Data ◽  
Interest Representation ◽  
Free Rider Problem ◽  
System P ◽  
Constraint Problem ◽  
Organized Interest

This chapter uses systematic data collected for the Washington Representatives Study to inquire into the kinds of interests that are represented by organizations in national politics and the extent to which that configuration approximates equality of political voice. The survey presented here has made clear that, for all the variety in the interests represented by organizations in Washington, the pressure system is far from universal. Many constituencies with a seeming interest in federal policies have no organization of their own. What is more, both the free rider problem and the resource constraint problem here imply that organized interest representation in Washington is riddled with everyday inequalities.

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