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Academic literature on the topic 'Market Failures'

Author: Grafiati

Published: 4 June 2021

Last updated: 11 June 2025

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Journal articles on the topic "Market Failures"

1

Levinson, Daryl J. "Market Failures and Failures of Markets." Virginia Law Review 85, no. 8 (1999): 1745. http://dx.doi.org/10.2307/1073937.

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2

Butler, Eamonn. "The Public Choice Analysis of Market Failures and Government Failures." Korea Public Choice Association 1, no. 1 (2022): 45–74. http://dx.doi.org/10.55795/jpc.2022.1.1.045.

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In recent years, the Public Choice School scholars argue that public policymaking has its own failures. Public Choice scholars pointed out that the people who make public decisions – politicians or bureaucrats - are in fact just as self-interested as anyone else. They are, after all, the same people; individuals do not suddenly become angels when they get a job in government. We call it ‘democracy’, but actually it is politics, and political interests to colour the whole process. People do not vote at elections out of ‘public interest’, but they vote to promote their own interests. The politicians and bureaucrats also have personal interests of their own. So the Public Choice School economists suggest that it might be better to leave the markets alone, rather than replace market failure by an even worse government failure.  Over the last few decades, the Public Choice School’s arguments have had a growing effect to explain real politics. In established democracies, there is more recognition of the private interests of legislators and bureaucrats, and of the need to restrain them. In addition, policies designed to restrain public decision making, inspired by the Public Choice School, are becoming more common. In this essay, I attempt to explain the Public Choice School’s main idea and various issues in a conceptual and critical way.

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3

Sandler, Todd. "Tropical Deforestation: Markets and Market Failures." Land Economics 69, no. 3 (1993): 225. http://dx.doi.org/10.2307/3146589.

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4

Wolf, Charles. "Market and Non-Market Failures: Comparison and Assessment." Journal of Public Policy 7, no. 1 (1987): 43–70. http://dx.doi.org/10.1017/s0143814x00004347.

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ABSTRACTThis paper aims to redress the asymmetry in the standard economic treatment of the shortcomings of markets and governments by developing and applying a theory of ‘nonmarket’ failure– that is, of government failure – so that the comparison between markets and governments can be made more systematically, and choices between them arrived at more intelligently. Several conclusions are drawn. First, the choice between markets and governments is not a pure one, actual systems inevitably involve combinations between markets and governments. Second, with respect to both static and dynamic efficiency criteria, markets generally do better than governments. Third, there are various ways in which government can contribute to improving the functioning of markets. Fourth, market forces can play a useful role in improving the functioning of government and reducing the incidence of nonmarket failures.

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5

Redmond, William. "Marketing Systems and Market Failure." Journal of Macromarketing 38, no. 4 (2018): 415–24. http://dx.doi.org/10.1177/0276146718796913.

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The paper seeks to re-examine a classic piece of macromarketing scholarship which dealt with market failures. That analysis was based on a transactional approach to markets, rather than a systems approach. Having become more prominent in the macromarketing literature since that time, marketing systems are the focus of the present analysis. The paper looks at six types of market failure: imperfect competition, entry barriers, externalities, imperfect information, inequality, and transaction costs. Definitions, politics and political economy are discussed, as is a more systems-oriented approach to the assessment of market failures.

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6

Kadariah, Siti, Rani Febriyanni, and Isnaini Harahap. "Analisis Faktor-faktor yang Mempengaruhi Kegagalan Pasar (Market Failure)." Jurnal Ilmiah Universitas Batanghari Jambi 22, no. 2 (2022): 926. http://dx.doi.org/10.33087/jiubj.v22i2.2097.

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Market failure can occur if the allocation of economic resources cannot be distributed optimally in society. In the conditions, the market will cause too much or too little of either goods or services to be produced in an economy. Market failure occurs when the market fails to allocate resources efficiently. Market failure can also be interpreted as a situation where the market does not respond to a product when there is over supply or over demand. Prices do not limit demand and cannot increase supply so that an efficient market is not created. Market failures can occur due to the following factors, namely: Asymmetric information, externalities, public goods (public), and market imperfections. This study aims to determine the factors that influence market failures that cause market imbalances. The method used is qualitative research. The results obtained from the study are market failures can occur due to factors including: Asymmetric information, externalities, public property (public), market imperfections or a decrease in average costs. To eliminate market failures, several solutions can be implemented. Use of laws & pricing mechanisms.

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7

Leffler, Olof. "Market Failures and Moral Failures: A Dilemma." Public Affairs Quarterly 38, no. 2 (2024): 153–71. http://dx.doi.org/10.5406/21520542.38.2.04.

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Abstract 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. However, the orthodox approach is extensionally inadequate, for it is legitimate to profit from many of the allegedly ruled-out market failures. The moralized approach does better but fails to be sufficiently comprehensive. First, it has not been shown why we ought to adhere to any particular limited subset of norms of and for the market. Second, we have a very general reason to mitigate the moral horror of the world, which indicates that the market failures approach is too arbitrarily restricted.

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8

Shenoy, Ajay. "Market failures and misallocation." Journal of Development Economics 128 (September 2017): 65–80. http://dx.doi.org/10.1016/j.jdeveco.2017.05.004.

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9

Cheshire, Paul C. "Land market regulation: market versus policy failures." Journal of Property Research 30, no. 3 (2013): 170–88. http://dx.doi.org/10.1080/09599916.2013.791339.

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10

Amato, Massimo, and Luca Fantacci. "Failures on the market and market failures: a complementary currency for bankruptcy procedures." Cambridge Journal of Economics 40, no. 5 (2016): 1377–95. http://dx.doi.org/10.1093/cje/bew029.

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