Michael Munger on Sharing, Transaction Costs, and Tomorrow 3.0
EconTalk
00:00
The Benefits of a Smart Apartment Building
A toothbrush is relatively inexpensive, so you always want to compare the cost of ownership to the benefits of renting. "I don't really want to trot out to the smart pod and pick up my handle for my toothbrush," he says. A smart apartment building would be designed for this kind of reduction in transaction costs.
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