Club Theory: A Contemporary Economic Review
10 Pages Posted: 5 Feb 2020
Date Written: January 10, 2020
This paper provides a review of the economic theorizations of club goods, differentiated by public goods as non-rivalrous but still excludable. Although the literature on club goods has been well-entrenched in the academy since the mid-20th century, important shifts have occurred in the global economy which necessitate a revisitation of the literature to seek its application in the circumstances of the 21st century. This review highlights the value of such a re-examination.
Keywords: Public Goods, Public Choice, Club Theory, Microeconomics
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