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Externalities: You Can’t Own Air

In: 45 Conversations About Behavioral Economics

Author

Listed:
  • Li Way Lee

    (Wayne State University)

  • Aaron Keathley

    (Wayne State University)

Abstract

When I check local weather on my phone, I often find the Air Quality Index at “Unhealthy for Sensitive Group” or “Poor.” It bothers me that I know what is killing me but can’t do anything about it. I pay tax on the land on which my house sits. But that does not do a whole lot of good if anyone can pollute the air above my land. Why don’t I have property right to the air above my land? What are the problems that must be solved for an effective property-right system for air?

Suggested Citation

  • Li Way Lee & Aaron Keathley, 2022. "Externalities: You Can’t Own Air," Springer Books, in: 45 Conversations About Behavioral Economics, chapter 0, pages 55-57, Springer.
    • Handle: RePEc:spr:sprchp:978-3-031-05046-6_14
    DOI: 10.1007/978-3-031-05046-6_14
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