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Alan Beattie
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Plausible with two villages, but would a spontaneous cooperative solution emerge with 155?
Ditto read book, ditto still have questions, esp about this parable. I can understand why the optimal toll ceiling negotiated under the World Tolls Organisation could be non-zero, but it's not clear to me why a cooperative solution is likely to emerge spontaneously, absent some improbably helpful forms of village-level political decision-making.
I understand that, but the parable doesn't end with multilateralism of any description saving the day. It ends with unilateral tolls ensuring a happy ending.
What SL said. We could call it, I dunno, the World Tolls Organisation or something, get some French dude in to run it.
What happens if the fishing village along the coast builds a similar road but does not charge a toll, thus seizing the dried fish trade?
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Apr 21, 2011