Market and government failure-ch10

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  • Created by: sammilaw
  • Created on: 11-04-16 20:42
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  • Market Failure
    • Chapter 10
    • Causes:
      • Negative externalities
      • Positive externalities
      • Imperfect information
      • Equity issues
      • Immobility of factors of production
      • Public goods
      • Monopoly
    • Causes of government failure:
      • Political self-interest
      • Policy myopia
      • Regulatory capture
      • Disincentive effects
      • Policy decisions based on imperfect information
      • Law of unintended consequences
      • Costs of admin and enforcement
      • Conflicting objectives

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