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1996
The previous chapter analysed the concepts of demand and supply as separate entities. The discussion that follows links the two explicitly. After all, a householder’s demand will not be realised if no one is willing and able to supply the desired commodity, and similarly a firm will not wish to produce a commodity unless there is some indication that ...
Brian Atkinson, Peter Baker, Bob Milward
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The previous chapter analysed the concepts of demand and supply as separate entities. The discussion that follows links the two explicitly. After all, a householder’s demand will not be realised if no one is willing and able to supply the desired commodity, and similarly a firm will not wish to produce a commodity unless there is some indication that ...
Brian Atkinson, Peter Baker, Bob Milward
openaire +2 more sources
Beyond Market Failure and Government Failure
SSRN Electronic Journal, 2018Criticisms of market outcomes often rest upon a notion of ‘market failure,’ meaning that the market has failed to align incentives and knowledge to produce an optimal outcome. Rejoinders to classic market failure arguments have taken several forms: that there are institutional or contracting solutions to various forms of market failures, that ...
Glenn Furton, Adam Martin
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1997
Writing in triumphalist vein at the height of the mid-1980s economic boom, John Redwood (1988) claimed that privatisation represented the most important economic phenomenon of the 1980s; he portrayed it as a global movement, sweeping all before it. However such a description was not only inaccurate with regard to the British welfare state (there were ...
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Writing in triumphalist vein at the height of the mid-1980s economic boom, John Redwood (1988) claimed that privatisation represented the most important economic phenomenon of the 1980s; he portrayed it as a global movement, sweeping all before it. However such a description was not only inaccurate with regard to the British welfare state (there were ...
openaire +1 more source
2023
Abstract The chapter explores deviations from the perfect-competition model in the form of oligopoly and missing markets (externalities, public goods) and the circumstances under which such deviations could lead to a loss of economic efficiency.
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Abstract The chapter explores deviations from the perfect-competition model in the form of oligopoly and missing markets (externalities, public goods) and the circumstances under which such deviations could lead to a loss of economic efficiency.
openaire +2 more sources