However, even if this public-good problem can be overcome through excludability
, there is another public-good problem at the level of the increase in the level of specialization that the higher transaction efficiency contributes to.
The legal protection of DRMs, a private means of enforcing content excludability
, participates in the "privatization" of copyright protection.
Similarly, the excludability
from income of all or most of the gain on the sale of the home (up to the statutory limit of $500,000) constitutes a yield exemption type consumption tax, because the gains realized on the home (due to appreciation) are exempted from tax.
of age discrimination awards reached the U.S.
(14) The key concepts in the analysis of ideas are the ones developed for the analysis of public goods: rivalry and excludability
. In general, a good that is not rivalrous introduces a nonconvexity into the technology.
Economists have focused heavily on three other dimensions of modern infrastructures, namely, their low levels of excludability
and of rivalry and their high level of externalities (de FONTENAY, HOGENDORN & LIEBENAU 2005).
The Ninth and the Seventh Circuit Courts of Appeals recently came to opposite conclusions regarding the excludability
of back pay and liquidated damages received to settle claims under the Age Discrimination in Employment Act (ADEA).
Economists define private goods on the basis of three characteristics: rivalry in consumption; excludability
in ownership and use; and depletability (Kaufman, 1986).
The Third Circuit looked only to the nature of the claim (whether it stems from personal injury) to determine excludability
and did not draw the equitable-versus-legal distinction.
Extreme publicness marked the turnpikes, both in jointness of consumption and in nonexcludability.(5) The excludability
problem was partly the result of legal restrictions on toll collection.
The book is conceptually clear: its central phenomenon - common pool resources (CPRs) - is clearly defined as those goods for which excludability
is difficult and consumption is rival (as contrasted with public goods, for which consumption is nonrival), and its central problem - the performance of decision makers in CPRs - is well-identified.
In addition, these are studied with material goods having characteristics of excludability
, expendability, rivalry and their market .