Anything That Can Go Wrong, Will - Deepstash
Anything That Can Go Wrong, Will

Anything That Can Go Wrong, Will

In any situation where you can spot spillover effects (like a polluting factory), look for an externality (like bad health effects) lurking nearby.

Fixing it will require intervention either by fiat (like government regulation) or by setting up a marketplace system according to the Coase theorem (like cap and trade).

Beware of situations with asymmetric information, as they can lead to principal-agent problems.

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