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The entire wiki reimagined as a visual magazine with video discovery · Watch your interests come alive
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Tyranny of small decisions
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The tyranny of small decisions is a phenomenon in which a number of decisions, individually small and insignificant in size and time perspective, cumulatively result in a larger and significant outcom
Abutment of the Ithaca-Auburn Short Line bridge
Abutment of the Ithaca-Auburn Short Line bridge
As a result of many small decisions, and without the issue being directly addressed, nearly half the marshlands were destroyed along the coasts of Con
As a result of many small decisions, and without the issue being directly addressed, nearly half the marshlands were destroyed along the coasts of Connecticut and Massachusetts.
Market failure
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In neoclassical economics, market failure is a situation in which the allocation of goods and services by a free market is not Pareto efficient, often leading to a net loss of economic value. The firs
Tyranny of small decisions
…to the point where desired alternatives are irreversibly destroyed. Kahn described the problem as a common issue in market economics which can lead to market failure. The concept has since been extended to areas other than economic ones, such as environmental degradation, political elections and health outcomes. The…
While factories and refineries provide jobs and wages, they are also an example of a market failure, as they impose negative externalities on the surr
While factories and refineries provide jobs and wages, they are also an example of a market failure, as they impose negative externalities on the surrounding region via their airborne pollutants.
In small countries like New Zealand, electricity transmission is a natural monopoly. Due to enormous fixed costs and small market size, one seller can
In small countries like New Zealand, electricity transmission is a natural monopoly. Due to enormous fixed costs and small market size, one seller can serve the entire market at the downward-sloping section of its average cost curve, meaning that it will have lower average costs than any potential entrant.
Congested Times Square in Midtown Manhattan, New York City, which leads the world in urban automobile traffic congestion, but which has implemented co
Congested Times Square in Midtown Manhattan, New York City, which leads the world in urban automobile traffic congestion, but which has implemented congestion pricing in January 2025 to address the problem