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Why Some Goods Are Free

  • Richard B. McKenzie
  • Gordon Tullock
Chapter

Abstract

Economists spend a great deal of time explaining how market prices are determined, and almost all of that time is spent explaining why prices are positive (above zero). Their price analyses almost always reinforce an often-repeated quip: “There is no such thing as a free lunch.”

Keywords

Switching Cost Network Effect Search Cost Future Price Network Good 
These keywords were added by machine and not by the authors. This process is experimental and the keywords may be updated as the learning algorithm improves.

Copyright information

© Springer-Verlag Berlin Heidelberg 2012

Authors and Affiliations

  • Richard B. McKenzie
    • 1
  • Gordon Tullock
    • 2
  1. 1.Paul Merage School of BusinessUniversity of California, IrvineIrvineUSA
  2. 2.Law & Economics CenterGeorge Mason UniversityArlingtonUSA

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