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It's actually a special case of the public good problem. Most public goods aren't worth more to one individual than it would cost that individual to produce. A
by baddox 12y ago
It's actually a special case of the public good problem. Most public goods aren't worth more to one individual than it would cost that individual to produce. A strong military defense for my country is a classic example of a public good, but it probably costs way more than it is worth to me. Yet it's still a public good because it is worth more to the entire country than it costs to produce.