question archive "Hunker down" or "stay home" orders during a pandemic can be considered a command and control approach to controlling an externality
"Hunker down" or "stay home" orders during a pandemic can be considered a command and control approach to controlling an externality
Subject:EconomicsPrice: Bought3
"Hunker down" or "stay home" orders during a pandemic can be considered a command and control approach to controlling an externality. (i) Explain the nature of the externality. (ii) Is command and control appropriate or can you devise an incentive policy (pigovian or permit market) that would work better. If not, why not?
