http://www.nj.com/middlesex/index.ssf/2016/06/5-year-old_boy...
As for "pricing in the societal costs" - that's called paying insurance.
http://www.nj.com/middlesex/index.ssf/2016/06/5-year-old_boy...
As for "pricing in the societal costs" - that's called paying insurance.
Not really, because there are costs which are not apparent, or are a matter of policy.
- What is the cost of annoying me with drones' noise? I hope the government decides it is non zero.
- I do not know about drones, but I know about a past blunder: what is the cost of operating a nuclear plant? Now it is clear that it must include the non-negligible costs of disposing of nuclear waste and dismantling the nuclear plant. The operators of nuclear plants have reaped the benefits and left society with the costs. I very much hope that we are not so naive this time, and society is able to properly evaluate all costs, and pass them to the operators.
All-included Prime Delivery with zero delivery costs (because drone costs will tend to zero, and anyway Amazon is happy to cover the costs because they save on other delivery methods), will have as a consequence an unbound amount of underpants flying over my head. So I need some externalities added by the government to balance the situation.