Ronald Coase in his classic October 1960 article “The Problem of Social Cost” (Journal of Law and Economics 3[1], pp.1-4) discussed collective ownership of resources.  Collective ownership often means that no one takes care of resources, or at minimum that resources are not cared for as well as if they were privately owned.  What are some of problems with collective ownership in the health care industry? Can you think of some examples in which collective ownership works?  In what situations does it not work?

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