Public Goods and Market Failures: A Critical Examinations

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Tyler Cowen
Transaction Publishers, 2001 - 384 Seiten

Assertions of market failure are usually based on Paul Samuelson's theory of public goods and externalities. This book both develops that theory and challenges the conclusion of many economists and policy-makers that market failures cannot be corrected by market forces. The volume includes major case studies of private provision of public goods. Among the goods considered are lighthouse services, education, municipal services, and environmental conservation.

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Ausgewählte Seiten

Inhalt

Introduction
1
The Theory of Market Failure
27
2 The Pure Theory of Public Expenditure
29
3 The Anatomy of Market Failure
35
Developments in the Theory of Markets
67
A Critique of Public Goods Theory
69
5 Free Ride Free Revelation or Golden Rule?
93
6 The Private Production of Public Goods
111
11 The Problem of Externality
209
Case Studies
235
12 The Problem of Cooperation
237
13 The Lighthouse in Economics
255
An Economic Investigation
279
15 Fire Protection
305
16 Leisure and Recreational Services
327
to Conservation Problems
341

7 The Exchange and Enforcement of Property Rights
127
and the Rise of Social Institutions
147
9 A Pure Theory of Local Expenditures
179
10 An Economic Theory of Clubs
193
Some Historical Evidence
361
Contributors
383
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Beliebte Passagen

Seite 181 - Uncertainty, Evolution, and Economic Theory," Journal of Political Economy, LVIII (June, 1950), 211-21.
Seite 179 - The Pure Theory of Public Expenditure," Review of Economics and Statistics, Vol.
Seite 66 - External Economies and the Doctrine of Balanced Growth," Economic Journal, LXV (June 1955), and Fellner (op.
Seite 217 - These, then, represent the first approximation to a workable concept of transaction costs: search and information costs, bargaining and decision costs, policing and enforcement costs.
Seite 180 - Xn + n) which all enjoy in common in the sense that each individual's consumption of such a good leads to no subtraction from any other individual's consumption of that good...
Seite 216 - In order to carry out a market transaction it is necessary to discover who it is that one wishes to deal with, to inform people that one wishes to deal and on what terms, to conduct negotiations leading up to a bargain, to draw up the contract, to undertake the inspection needed to make sure that the terms of the contract are being observed, and so on.
Seite 32 - ... each individual, in seeking as a competitive buyer to get to the highest level of indifference subject to given prices and tax, would be led as if by an Invisible Hand to the grand solution of the social maximum position.
Seite 269 - AUGUSTIN COURNOT.— Researches into the Mathematical Principles of the Theory of Wealth. (1838) Translated by NATHANIEL T. BACON.
Seite 276 - Merely corroborative detail, intended to give artistic verisimilitude to an otherwise bald and unconvincing narrative.

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