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Joe, a user, cannot read encrypted email messages on a corporate smartphone, but he has been able to read them in the past. A technician restarts Joe's smartphone, but the issue remains. The technician deletes the corporate email account and has Joe re-add it, verifying all settings are correct. Despite these steps, the issue persists. Which of the following is MOST likely causing the issue?
Externality
A consequence of an industrial or commercial activity which affects other parties without this being reflected in market prices.
Property Rights
Legal rights to use, control, and benefit from a resource.
Free-Rider Problem
A situation where individuals consume a public good without contributing to its cost, leading to underprovision or overuse.
Coase Theorem
A principle that asserts that if property rights are clearly defined and transaction costs are low, private negotiations will lead to the efficient resolution of disputes regardless of initial distribution of rights.
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