Results 251 to 260 of about 174,607 (284)
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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
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Journal of Policy Analysis and Management, 1999
The concept of market failure was originally presented by economists as a normative explanation of why the need for government expenditures might arise. Gradually, the concept has taken on the form of a full-scale diagnostic tool frequently employed by policy analysts to determine the exact scope and nature of government intervention.
Richard O. Zerbe, Howard E. McCurdy
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The concept of market failure was originally presented by economists as a normative explanation of why the need for government expenditures might arise. Gradually, the concept has taken on the form of a full-scale diagnostic tool frequently employed by policy analysts to determine the exact scope and nature of government intervention.
Richard O. Zerbe, Howard E. McCurdy
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Failures on the market and market failures: a complementary currency for bankruptcy procedures
Cambridge Journal of Economics, 2016One of the most widespread implications of the Great Financial Crisis has been the increase in bankruptcies across advanced economies. The traditional approach to the problem of insolvencies is constrained by deeply ingrained concepts of money and credit and by the institutions in which those concepts are embodied, according to which the only way to ...
AMATO, MASSIMO, FANTACCI, LUCA
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The Failure of ‘Market Failure’
Economic Affairs, 1987Arguments that state intervention in the economy is superior to a policy of laissez‐faire are usually based on the misperception that government will succeed where the market is thought to fail. Alexander Shand, formerly Senior Lecturer in Economics at Manchester Polytechnic, surveys economic theory to demonstrate that the state itself is prone to ...
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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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The Quarterly Journal of Economics, 1958
What is it we mean by “market failure”? Typically, at least in allocation theory, we mean the failure of a more or less idealized system of price-market institutions to sustain “desirable” activities or to estop “undesirable” activites.1 The desirability of an activity, in turn, is evaluated relative to the solution values of some explicit or implied ...
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What is it we mean by “market failure”? Typically, at least in allocation theory, we mean the failure of a more or less idealized system of price-market institutions to sustain “desirable” activities or to estop “undesirable” activites.1 The desirability of an activity, in turn, is evaluated relative to the solution values of some explicit or implied ...
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Institutional failure or market failure?
Journal of Banking & Finance, 2015We investigate the effect of the power of creditors, property rights protection, and institutional quality, on bank profits using a panel of 498 banks from 46 countries. Results show that better institutions and stronger property rights protection reduce bank profits, while stronger power of creditors drives up bank profits significantly. Results imply
Ike Mathur, Isaac Marcelin
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Reflections on economics: market failure or market theory failure?
China Economic Journal, 2015I wrote this piece as a reflection on economics. That is to say, I would like to critique textbook economics (i.e., mainstream economics).
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Market Failure and Government Failure
Cultural Dynamics, 1995Aaron Levine suggests that income distribution, risk management and product-pricing problems warrant government intervention. It is important to use a comparative-institutions approach in assessing the effects of government action designed to correct such 'failures' of the market.
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Market Failures and Moral Failures: A Dilemma
Public Affairs QuarterlyAbstract I present a dilemma for the market failures approach to business ethics. On an orthodox interpretation, it takes moral requirements for businesses to require them not to profit from market failures to approximate Pareto efficiency. On a moralized interpretation, it also incorporates other considerations.
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