Wednesday, March 11, 2009
Externalities in a College Setting
So as I got to reading about externalities the other day, I came to the realization that ever since I came to college, there seemed to be an increasing number of noticeable externalities at my disposal. As I went from being a freshman to a senior I also noticed that a lot of these seemed to change from positive to negative externalities. For instance, upon my arrival the loud noises and excessive partying were things that I enjoyed and couldn't get enough of. I could easily walk up to someone's house, drink their beer, and enjoy the party at no cost to me.. a luxury that bar hopping doesn't present nowadays. As I sat in bed on a Monday night trying to sleep, I heard these boisterous noises and realized how they were decreasing my general well being and that in order for other people to have fun, they were doing so at my expense... I also realized that at the age of 22 I'm turning into an old lady. I just thought that this concept could be interesting if applied to other phenomena and if we look at how some externalities might start as something positive and eventually turn negative as needs and wants change in society.
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I definitely agree with you. I can remember when I was younger going out and getting drunk, but not worrying about how I feel the next day. Now, I put a lot more value on not feeling hungover in the morning. Going out and getting hammered as a senior gives me less utility than it did when I was a freshman.
ReplyDeleteI have a somewhat different view. I used to be paranoid about having large parties near my apartment. I was underage and didn't want the cops showing up and deciding to check out my place while they were there. A negative externality. Now I'm 21 and ridiculous house parties are awesome because the beer is all free and even if the cops show up I'm not going to jail. A positive externality.
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