Traffic jams are often provided as an example of a market failure. Drivers are focused on their own driving and don’t consider how it may impact others. As a result, too many people use road systems and congestion occurs. This Ted Talk highlights how Pigouvian taxes could be used to correct the market failure by instituting congestion taxes. While it’s not presented by an economist, he uses a lot of economics concepts throughout the talk.
CNN: Hunter says killing rhinos will help save species
While pretty controversial, this CNN clip does a great job of introducing the idea of property rights for endangered species.
Time — Bees & Almonds
This clip covers the production externalities associated with beekeeping.
King of Queens: Dog Days
The neighborhood dog has been a bit of a bother for the Heffernans, but they may have come to a solution through private bargaining.
Above Average: Everyone’s Upstairs Neighbor
Here’s a nice satirical video of what an upstairs neighbor sounds like. Traditionally, they aren’t factoring in the impact of their loud noises on the people who live below them, but in this case, the upstairs neighbor knows exactly what they’re doing.
US Bank Pay a Person — Unobstructed
This was a great commercial from US Bank, which I use to talk about externalities and transactions costs.
Birds on a Wire — Externalities
This clips was shared by CharityJoy Acciardo. It’s a nice clip to show before class starts or in the beginning of class on common resources, network externalities and congestion externalities.