Packing Out Your Trash, Brown M&Ms, and $100 Bills on the Sidewalk
The Answer Is Transaction Costs
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Introduction
In dual interest theory and metaeconomics, transaction cost is represented in the other interest. We are self-interested but we're also interested in the welfare of others. This means that we may have difficulty negotiating mutually beneficial transactions. Mike Munger: A lot of economists are uncomfortable with this being part of economics.
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