Construct · 1 fields · 1 citations

market failure: a standalone construct

One name. One construct. A landmark on the map.

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marketfailure1 CONSTRUCTMarket failureBATOR · PUBLIC POLICY

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Public policy

situations where markets left alone fail to allocate resources efficiently, as with public goods and externalities.

In public policy, market failure refers to situations where markets left alone fail to allocate resources efficiently, as with public goods and externalities. This meaning comes from Bator (1958) in The Quarterly Journal of Economics.[1]

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Nearby constructs

failure4 fields · 6 citationsjingle · one word, four constructsfarmers market failure1 fields · 1 citationsanchor · a standalone constructmarket failure theory of fair use1 fields · 1 citationsanchor · a standalone construct

References

  1. Bator, F. M. (1958). The Anatomy of Market Failure. The Quarterly Journal of Economics, 72(3), 351. https://doi.org/10.2307/1882231

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