Examlex
What is a sample statistic such that the mean of all its possible values differs from the population parameter that the statistic seeks to estimate?
Free-rider Problem
The free-rider problem occurs when individuals benefit from resources, goods, or services without paying for them, leading to underprovision of those goods or services.
Public Good
A good that is non-excludable and non-rivalrous, meaning it can be used simultaneously by more than one person without reducing its availability to others.
Free Rider
An individual who benefits from resources, goods, or services without paying for the cost of the benefit.
Nonexcludable
Describes a good or service that prevents individuals from being excluded from using it; typically, because it is not feasible or cost-effective to do so.
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