What does the term "free rider" mean in economics?
Q: What does the term "free rider" mean in economics?
A: The term "free rider" in economics refers to someone who benefits from resources, goods, or services without paying for the cost of the benefit.
Q: Where was the term "free rider" first used in economic theory?
A: The term "free rider" was first used in economic theory of public goods.
Q: In what contexts have similar concepts to the free rider problem been applied?
A: Similar concepts to the free rider problem have been applied in collective bargaining, antitrust law, psychology, and political science.
Q: When is free riding considered a problem?
A: Free riding may be considered as a free rider problem when it leads to under-provision of goods or services or when it leads to overuse or degradation of a common property resource.
Q: In what other disciplines have similar concepts to the free rider problem been cited?
A: Similar concepts to the free rider problem have been cited in political science, social psychology, and other disciplines.
Q: What may happen when individuals in a team or community believe that one or more other members may free ride?
A: When individuals in a team or community believe that one or more other members may free ride, they may reduce their contributions or performance.
Q: Can the free rider problem occur in other areas outside of economics?
A: Yes, the free rider problem can occur in other areas outside of economics, such as collective bargaining, antitrust law, psychology, and political science.
