Yes, agreed. To continue, though, I think it's not just nostalgia; people who benefit from local abundance can lose something from more efficiency.
AirBnB is another example. There are benefits to living in a desirable location and they're often free for the residents. If the neighbors are, effectively, selling off those amenities, it benefits them and their customers, but not you. And that's why some communities place restrictions.
I believe the Coase theorem suggests that paying off the neighbors would be somehow efficient, if a deal can be reached. It can be difficult to agree on a price, though.
> AirBnB is another example. There are benefits to living in a desirable location and they're often free for the residents.
To be more precise, they are baked into land values / rent.
> I believe the Coase theorem suggests that paying off the neighbors would be somehow efficient, if a deal can be reached. It can be difficult to agree on a price, though.
AirBnB is another example. There are benefits to living in a desirable location and they're often free for the residents. If the neighbors are, effectively, selling off those amenities, it benefits them and their customers, but not you. And that's why some communities place restrictions.
I believe the Coase theorem suggests that paying off the neighbors would be somehow efficient, if a deal can be reached. It can be difficult to agree on a price, though.