Showing papers on "Spillover effect published in 1975"
TL;DR: The authors argue that the spillover effects of private waste disposal in populated areas have the inevitable result that private decisions are socially not acceptable, and that the failure of the market to achieve social efficiency and optimality result in the failure to achieve a social optimum.
Abstract: Solid waste management arose and persists as a social problem for two fundamental reasons. First, the absorptive media for waste solids — the air, water and land — are communal resources over which private property rights cannot, and properly ought not, be defined and enforced. Secondly, the spillover effects of private waste disposal in populated areas have the inevitable result that private decisions are socially not acceptable. Both the publicness of basic resources and the spillover effects of private behavior result in the failure of the market to achieve social efficiency and optimality.
2 citations