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Journal articles on the topic 'Market Failures'

Author: Grafiati

Published: 4 June 2021

Last updated: 25 July 2025

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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

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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3

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 politic

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4

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

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5

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 effi

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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 fa

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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 pa

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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

Baig, Saranjam Muhammad. "Moral Suasion or Policy Reforms? How to Tackle Sectarian Violence in Pakistan: The Case Study of Gilgit-Baltistan." Global Social Sciences Review IV, no. II (2019): 291–97. http://dx.doi.org/10.31703/gssr.2019(iv-ii).38.

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The existing literature in social sciences and humanities analyzing root causes of sectarian and religious conflicts focus mostly on micro-factors. The inability of market and state factors to control sectarian conflict for last seven decades remains understudied by the contemporary literature. This article aims at filling that gap and seeks to identify certain market and government failures that have implications on sectarian and religious conflicts. More specifically, it identifies four market failures namely asymmetries of information, externalities, equity and public goods and three govern

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Saranjam, Muhammad Baig. "Moral Suasion or Policy Reforms? How to Tackle Sectarian Violence in Pakistan: The Case Study of Gilgit-Baltistan." Global Social Sciences Review 4, no. 2 (2019): 291–97. https://doi.org/10.5281/zenodo.4383429.

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The existing literature in social sciences and humanities analyzing root causes of sectarian and religious conflicts focus mostly on micro-factors. The inability of market and state factors to control sectarian conflict for last seven decades remains understudied by the contemporary literature. This article aims at filling that gap and seeks to identify certain market and government failures that have implications on sectarian and religious conflicts. More specifically, it identifies four market failures namely asymmetries of information, externalities, equity and public goods and three govern

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12

Biller, Dan, and Ernesto Sanchez-Triana. "Enlisting Markets in the Conservation and Sustainable Use of Biodiversity in South Asia’s Sundarbans." International Journal of Social Ecology and Sustainable Development 4, no. 3 (2013): 71–86. http://dx.doi.org/10.4018/jsesd.2013070106.

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The unique biodiversity of the Sundarbans is threatened by a number of factors, many of which are the direct or indirect result of market failures. Past governmental interventions aiming at protecting biodiversity have been ineffective, while other government efforts have directly or indirectly led to ecosystem degradation. In order to address these challenges, new governmental interventions are needed, particularly those that have the potential to mitigate market failures and address policy failures. This paper discusses how institutional and market failures, particularly the failure to captu

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13

Kessler, Oliver. "Failure and Critique of the Market." Millennium: Journal of International Studies 52, no. 3 (2024): 590–608. https://doi.org/10.1177/03058298241287796.

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This article conceptualizes the market as a concept to ask ‘how is neoliberalism able to go on?’ A question that was raised in the aftermath of the 2008 Great Financial Crisis and the persistence of market-based policies. It argues that one of the reasons is to be found in the performance of failure. Recent contributions have started to point to the cultural and ideological preconditions of failures. The following discussion seeks to contribute to this debate by identifying three distinct notions of failure: as empirical fact, as communication and as institutional fact. These three notions giv

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14

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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15

Mazzucato, Mariana. "Innovation systems: from fixing market failures to creating markets." Revista do Serviço Público 66, no. 4 (2015): 627–40. http://dx.doi.org/10.21874/rsp.v66i4.1303.

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This paper presents a critique of the market failure theory, focusing on its limitationsfor explaining the creation of new markets. From a review of the literature on the subjectand several examples, I argue that the state has an essential role in fostering innovation.Therefore, the challenges for innovation in the future should be less focused on the worriesabout ‘picking winners’ and ‘crowding out’. Instead, we must open up the discussiontowards four key questions: 1) directions; 2) evaluation; 3) organisational change; 4) risksand rewards.

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16

Curry, Timothy J., Peter J. Elmer, and Gary S. Fissel. "Equity market data, bank failures and market efficiency." Journal of Economics and Business 59, no. 6 (2007): 536–59. http://dx.doi.org/10.1016/j.jeconbus.2007.02.002.

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17

Vining, Aidan R., and David L. Weimer. "Government Supply and Government Production Failure: A Framework Based on Contestability." Journal of Public Policy 10, no. 1 (1990): 1–22. http://dx.doi.org/10.1017/s0143814x00004657.

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ABSTRACTA complete conceptual framework for policy analysis requires a theory of government supply and government production failure to complement the well-developed theory of market failure provided by welfare economics. Charles Wolf has made an important start by attempting to draw parallels between market failures and the manifestations of government supply failures. This article provides a more useful analytical framework for government supply failure in two important ways. First, it draws on several perspectives from the economics of organization to sketch both normative and positive theo

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18

De Barros Rodrigues Junior, Hélio. "ORGANIZATIONAL PUBLIC GOVERNANCE AND MINIMIZING GOVERNMENT FAILURES." Revista Gênero e Interdisciplinaridade 6, no. 03 (2025): 137–60. https://doi.org/10.51249/gei.v6i03.2528.

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Government failures are economic phenomena that can compromise the efficient functioning of both markets and public administrations. While market failures are characterized by the inability of market mechanisms to allocate resources efficiently, resulting in welfare losses, government failures occur when the State, when intervening in the economy to correct market failures, fails to achieve the expected results or, in some cases, worsens existing problems. Organizational public governance can be defined as the application of leadership, strategic planning and control practices, in order to ena

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19

Tirole, Jean. "Market Failures and Public Policy." American Economic Review 105, no. 6 (2015): 1665–82. http://dx.doi.org/10.1257/aer.15000024.

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20

MINELLI, ENRICO, and SALVATORE MODICA. "Credit Market Failures and Policy." Journal of Public Economic Theory 11, no. 3 (2009): 363–82. http://dx.doi.org/10.1111/j.1467-9779.2009.01414.x.

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21

Pinotti, Paolo. "Trust, Regulation and Market Failures." Review of Economics and Statistics 94, no. 3 (2012): 650–58. http://dx.doi.org/10.1162/rest_a_00209.

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22

von Kriegstein, Hasko. "Professionalism, Agency, and Market Failures." Business Ethics Quarterly 26, no. 4 (2016): 445–64. http://dx.doi.org/10.1017/beq.2016.45.

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ABSTRACT:According to themarket failures approachto business ethics, beyond-compliance duties can be derived by employing the same rationale and arguments that justify state regulation of economic conduct. Very roughly, the idea is that managers have a duty to behave as if they were complying with an ideal regulatory regime ensuring Pareto-optimal market outcomes. Proponents of the approach argue that managers have aprofessional dutynot to undermine the institutional setting that defines their role, namely the competitive market. This answer is inadequate, however, for it is the hierarchical f

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23

Caminal, Ramon, and Carmen Matutes. "Market power and banking failures." International Journal of Industrial Organization 20, no. 9 (2002): 1341–61. http://dx.doi.org/10.1016/s0167-7187(01)00092-3.

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24

Whitney, Jr., W. T. "Market Failures in US Medicine." Monthly Review 52, no. 9 (2001): 41. http://dx.doi.org/10.14452/mr-052-09-2001-02_4.

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25

Pablos-Mendez, Ariel, Sunil Chacko, and Tim Evans. "Market Failures and Orphan Diseases." Development 42, no. 4 (1999): 79–83. http://dx.doi.org/10.1057/palgrave.development.1110090.

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26

Batabyal, Amitrajeet A. "Forests: Market and intervention failures." Ecological Economics 8, no. 1 (1993): 79–80. http://dx.doi.org/10.1016/0921-8009(93)90036-6.

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27

Manzetti, Luigi. "Political Manipulations and Market Reforms Failures." World Politics 55, no. 3 (2003): 315–60. http://dx.doi.org/10.1353/wp.2003.0017.

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Economists have recently underscored that the failure of market reforms in producing sustained growth in emerging markets is the result of poor advice from the International Monetary Fund, as well as of erroneous macroeconomic policies of domestic decision makers. This article proposes a complementary hypothesis. If market reforms are enacted in a political system with weak accountability institutions, then one should expect the executive to manipulate such reforms in pursuit of such old-fashioned practices as collusion between government and business, political patronage, and corruption. This

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28

Geiger, Susi, and Nicole Gross. "Market Failures and Market Framings: Can a market be transformed from the inside?" Organization Studies 39, no. 10 (2017): 1357–76. http://dx.doi.org/10.1177/0170840617717098.

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How do actors innovate markets in cases of perceived market failures? This paper’s aim is to examine what happens when a market is innovated or, as we call it, ‘redevised’ in situations where public and commercial interests significantly diverge. Market devices can serve an important function in such attempts to innovate markets: they are material and/or social arrangements that are put into place to shape the market in question in certain ways. But can such devices really transform a market from within? To examine this question we trace the history of the Geneva Medicines Patent Pool, a civil

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29

Adamus, Jagoda, Jacek Chądzyński, and Justyna Trippner‑Hrabi. "Lost in Transition? Market Failure in the Implementation of the Circular Economy. A Comparative Analysis of the Netherlands and Poland." Comparative Economic Research. Central and Eastern Europe 27, no. 3 (2024): 141–65. http://dx.doi.org/10.18778/1508-2008.27.25.

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It is necessary for economies to transition to a circular economy (CE). What particularly inhibits the implementation of the CE in linear economies is market failures, whose theoretical principles are embedded in modern welfare economics and neoclassical economics. Market failures shape the functioning of different areas of the markets, including the allocation of and access to resources, competition, and cooperation, among others. Due to their presence in the market, opportunities for industrial symbiosis based on intersectoral cooperation and the creation of resource-efficient production sys

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30

Ossandón, José, and Sebastián Ureta. "Problematizing markets: market failures and the government of collective concerns." Economy and Society 48, no. 2 (2019): 175–96. http://dx.doi.org/10.1080/03085147.2019.1576433.

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31

Besley, Timothy. "HOW DO MARKET FAILURES JUSTIFY INTERVENTIONS IN RURAL CREDIT MARKETS?" World Bank Research Observer 9, no. 1 (1994): 27–47. http://dx.doi.org/10.1093/wbro/9.1.27.

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32

Colander, David. "Integrating Sex and Drugs into the Principles Course: Market-Failures Versus Failures-of-Market Outcomes." Journal of Economic Education 34, no. 1 (2003): 82–91. http://dx.doi.org/10.1080/00220480309595203.

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33

Dmitrii Trubnikov. "Regulation of Telecommunications: The Choice Between Market and Regulatory Failures." ENDLESS : International Journal of Future Studies 4, no. 2 (2021): 249–60. http://dx.doi.org/10.54783/endless.v4i2.83.

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Abstract The paper examines the main regulatory frameworks of the telecommunications industry through the concept of market failure and analyses how and why the policy often leads to undesirable outcomes that might be considered as regulatory failure. The research uses the EU regulatory framework for electronic communications as a base for the analysis of the main policy objectives through the prism of the market failure theory with an eye to the interests of the main market players in the telecommunications markets. About any aspect of regulation allows to find ways to create opportunit

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Curcio Curcio, Pasqualina. "Drug patents: the right policy for the wrong problem." Social Medicine 7, no. 1 (2012): 18–26. https://doi.org/10.71164/socialmedicine.v7i1.2013.644.

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Knowledge, according to economic theory, is a public good: it is non-exclusive, which means that the private sector, whose aim is to maximize profits, has no incentive to produce it since it can neither recover its investment costs nor make a profit. Since private industry cannot recover the cost of producing new knowledge they have no motivation to invest in research and development (R&D). Knowledge is also a non-rival good; the fact that a pharmaceutical company (public or private) uses and consumes a particular knowledge in the manufacture of a particular medication does not prevent oth

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35

Adeyemi, Kehinde Adetoyese. "Understanding the Fallout: The Impact of Failed Real Estate Developments on the Property Market in Lagos State, Nigeria." International Journal of Research and Innovation in Social Science VIII, no. VII (2024): 1096–108. http://dx.doi.org/10.47772/ijriss.2024.807089.

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This study aims to investigate the effects of failed real estate developments on the property market in Lagos State, Nigeria. Given the rapid development and high demand for housing and other assets in Lagos, the potential for project failures can cause uncertainty and disruption. The research seeks to understand the various consequences of project development failures on the property market by examining stakeholder views. The study involves analyzing the fundamental factors and outcomes of project failures and their impact on the real estate market in Lagos State. The study sampled 384 Estate

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36

Trubnikov, Dmitrii. "Regulation of Telecommunications: The Choice Between Market and Regulatory Failures." Law, State and Telecommunications Review 9, no. 1 (2017): 25–46. http://dx.doi.org/10.26512/lstr.v9i1.21511.

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Purpose – The paper examines the main regulatory frameworks of the telecommunications industry through the concept of market failure and analyses how and why the policy often leads to undesirable outcomes that might be considered as regulatory failure. Methodology/approach/design – The research uses the EU regulatory framework for electronic communications as a base for the analysis of the main policy objectives through the prism of the market failure theory with an eye to the interests of the main market players in the telecommunications markets. Findings – About any aspect of reg

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37

Krueger, Anne O. "Government Failures in Development." Journal of Economic Perspectives 4, no. 3 (1990): 9–23. http://dx.doi.org/10.1257/jep.4.3.9.

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By the 1970s and early 1980s, governments in most developing countries were mired down in economic policies that were manifestly unworkable. Whether market failures had been present or not, most knowledgeable observers concluded that there had been colossal government failures. In many countries, there could be little question but that government failure significantly outweighed market failure. This essay focuses on insights relating directly to government behavior affecting economic activity and economic growth in developing countries. It briefly examines each of the following questions: 1) W

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38

Buckley, OBE, Peter J., and Jean J. Boddewyn. "The internalization of societal failures by multinational enterprises." Multinational Business Review 23, no. 3 (2015): 170–87. http://dx.doi.org/10.1108/mbr-08-2014-0041.

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Purpose – The purpose of this paper is to show that the market-internalization framework can be applied to non-economic institutions because society’s non-market sub-systems – political, social and cultural – are subject to failures just like economic markets, and firms can contribute to their repair or replacement by selectively, strategically and responsibly internalizing the market and non-market arenas for these sub-systems’ functions. Design/methodology/approach – Internalization theory is applied to a new area – that of societal failures. Findings – Internalization theory can be applied

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39

Bougherara, Douadia, and Gilles Grolleau. "Designing Ecolabels In Order To Mitigate Market Failures." Journal of Interdisciplinary Economics 16, no. 4 (2005): 411–30. http://dx.doi.org/10.1177/02601079x05001600403.

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For the market for ecofriendly characteristics of agrofood products to function effectively, means of mitigating asymmetric information, informational overload and public goods properties are necessary. Ecolabel success requires a design and an implementation capable of mitigating simultaneously these three sources of market failures. Our contribution differs from many to date by (1) introducing and analyzing the informational overload as a source of market failure and (2) considering the ecolabel, not only as a tool to re-establish information symmetry between the producer and consumer but al

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40

Liebowitz, S. J., and Stephen E. Margolis. "Network Externality: An Uncommon Tragedy." Journal of Economic Perspectives 8, no. 2 (1994): 133–50. http://dx.doi.org/10.1257/jep.8.2.133.

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Economists have defined ‘network externality’ and have examined putative inframarginal market failures associated with it. This paper distinguishes between network effects and network externalities, where the latter are market failures. The authors argue that while network effects are important, network externalities are theoretically fragile and empirically undocumented. Some network externalities are merely pecuniary. Network ownership or transactions among network participants can internalize some network effects. The type of market failure that has been associated with these externalities

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41

Roth, Alvin E. "Marketplaces, Markets, and Market Design." American Economic Review 108, no. 7 (2018): 1609–58. http://dx.doi.org/10.1257/aer.108.7.1609.

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Marketplaces are often small parts of large markets, and both markets and marketplaces come in many varieties. Market design seeks to understand what marketplaces must accomplish to enable different kinds of markets. Marketplaces can have varying degrees of success, and there can be marketplace failures. I'll discuss labor markets like the market for new economists, and also markets for new lawyers and doctors that have suffered from the unraveling of appointment dates to well before employment begins. Markets work best if they enjoy social support, but some markets are repugnant in the sense

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42

Brennan, Timothy J. "Market Failures in Real-Time Metering." Journal of Regulatory Economics 26, no. 2 (2004): 119–39. http://dx.doi.org/10.1023/b:rege.0000038927.29819.0d.

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43

Hewitt-Dundas, Nola, and Stephen Roper. "Exploring market failures in open innovation." International Small Business Journal: Researching Entrepreneurship 36, no. 1 (2017): 23–40. http://dx.doi.org/10.1177/0266242617696347.

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There is now considerable empirical evidence demonstrating the innovation and performance benefits that accrue to firms engaging in open innovation (OI). Here, we use novel data on micro-businesses to show that the average level of engagement in OI falls well below the optimal level, a finding that reflects that of other empirical studies. We identify and examine three market failures which may help to explain this result. These relate to a lack of understanding of the potential benefits of OI by firms, a lack of information about the capabilities of potential partners and a lack of informatio

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Levine, M. D., J. G. Koomey, J. E. McMahon, A. H. Sanstad, and E. Hirst. "Energy Efficiency Policy and Market Failures." Annual Review of Energy and the Environment 20, no. 1 (1995): 535–55. http://dx.doi.org/10.1146/annurev.eg.20.110195.002535.

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45

Epplin, Francis M. "Market Failures and Land Grant Universities." Journal of Agricultural and Applied Economics 44, no. 3 (2012): 281–89. http://dx.doi.org/10.1017/s1074070800000365.

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One hundred and fifty years ago, the 1862 Morrill Land Grant Act was signed into law. Wise people at that time recognized that the private market for education failed to produce an efficient level of education decades before the economic theory was developed to explain that market failures reduce efficiency. The purpose of this paper is to review the history of selected events that resulted in the development of publicly funded U.S. educational institutions and to issue a challenge for our profession to do a better job of educating about the theoretical justification for using tax dollars to s

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46

Tóth, János I. "Gene Manipulation: Market and Expert Failures." Global Bioethics 13, no. 3-4 (2000): 79–86. http://dx.doi.org/10.1080/11287462.2000.10800765.

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47

Brown, Zachary, and Dominic Reisig. "Assessing market failures driving pesticide resistance." Science 387, no. 6737 (2025): 930–32. https://doi.org/10.1126/science.adv4313.

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48

Weber, Franziska, and Roger Van den Bergh. "The German Facebook Saga: Abuse of Dominance or Abuse of Competition Law?" World Competition 44, Issue 1 (2021): 29–52. http://dx.doi.org/10.54648/woco2021003.

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This article provides a critical analysis of the German Facebook case and stresses the limits of competition law. Facebook’s terms and conditions regarding the use of Off-Facebook data were qualified as an exploitative abuse at various stages of the German Facebook proceedings. However, it is far from certain that Facebook would have written its terms any different if it was operating on a competitive market. From an economic viewpoint the market failure at hand is a pervasive information asymmetry rather than market power. Therefore, it is doubtful that the correct response lies within compet

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49

Hernández-Solano, Alan, Véronique Sophie Avila-Foucat, and George A. Dyer. "Estimating shadow prices in economies with multiple market failures." PLOS ONE 18, no. 11 (2023): e0293931. http://dx.doi.org/10.1371/journal.pone.0293931.

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Approaches to the estimation of shadow prices generally assume that all but one market function correctly. However, multiple market failures are common in developing countries. We present a theoretical model and an empirical strategy to estimate the shadow price of a subsistence good in an economy where labor markets fail. Our results show that: 1) among subsistence producers, the shadow price of this good must be greater than or equal to the market price, and equal to it for surplus growers; and 2) current methods create biases when the otherwise-perfect-markets assumption is violated. The pr

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França, José Antonio De, Sérgio Ricardo Miranda Nazaré, Eduardo Tadeu Vieira, Clesia Camilo Pereira, and Paulo César Melo Mendes. "Public Policies and State and Market Failures Social Economy in the Context of Partnership with Civil Society Organizations." International Journal of Economics and Finance 16, no. 1 (2023): 57. http://dx.doi.org/10.5539/ijef.v16n1p57.

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The State as the Entity that represents the first sector of the economy, has the aim of being the provider and articulator of public policies so that the Market, as the second sector, produces utilities, generates employment and income, which are the bases for supporting economic and social policies. Failure to fulfill this mission produces losses, known as State failures, due to the lack of clarity and inclusive public policies. The market, dependent on economic policies, produces inefficiency, known as market failures. The article discusses the context of State and Market failures and partne

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