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Two brief ideas, since I don't have access to the literature at the 
moment. First, one would assume that the "tragedy of the commons" problem 
is an important reference. I am sure that consideration of this goes at 
least back to Hume. Second, one should look at the two roads problem in 
Knight (sorry I don't have the reference). Weren't A. Young and Knight 
colleagues or acquaintances at Cornell? In any case, Young's critique of 
Pigou would have been one of Knight's starting points is his own critique 
of Pigou. 
 
[BRIEF INSERTION: So as not to create another message, let me just say 
that A. Young was Knight's dissertation advisor at Cornell and the two 
remained close until Young's untimely death. Young's critique of Pigou 
("Pigou's Wealth and Welfare," Quarterly Journal of Economics 27 (1913): 
672-86) is the first to mention the difficulty in Pigou's understanding  
of the relation between private and social cost. Knight's critique in the  
1924 article (with the two roads example) comes after Pigou had "fixed"  
his theory in response to Young's criticism. -- RBE] 
 
One reference on Marshall, Pigou, and Knight is the following:  
 
Breit, Willilam and Roger L. Ransom, The Academic Scribblers, Holt, 
Rinehart and Winston, 1982.(second revised edition) 
 
Pat Gunning, Sultan Qaboos University, Oman 
 
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