Trade-offs and Incentives
Explore the trade-offs and incentives in solving problems through the example of hiring a monitor versus using smaller barges. Discover the tension between gaining something due to one set of incentives and giving it up because of different costs. Learn how families can play a role in solving these problems, but also the limitations of relying solely on trust and love.In this clip
From this podcast
EconTalk
Michael Munger on the Nature of the Firm
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