Microeconomics of Market Failures

Microeconomics of Market Failures - The MIT Press

Paperback (09 Oct 2015)

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Publisher's Synopsis

Bernard Salanié studies situations where competitive markets fail to achieve a collective optimum and the interventions used to remedy these so-called market failures.In this book Bernard Salanié studies situations where competitive markets fail to achieve a collective optimum and the interventions used to remedy these so-called market failures. He includes discussions of theories of collective decision making, as well as elementary models of public economics and industrial organization. Although public economics is traditionally defined as the positive and normative study of government action over the economy, Salanié confines himself to microeconomic aspects of welfare economics; he considers taxation and the effects of public spending only as potential remedies for market failures. He concludes with a discussion of the theory of general equilibrium in incomplete markets.

Book information

ISBN: 9780262528566
Publisher: The MIT Press
Imprint: The MIT Press
Pub date:
Language: English
Number of pages: 240
Weight: 358g
Height: 229mm
Width: 152mm
Spine width: 18mm