Markets or Governments

Markets or Governments Choosing Between Imperfect Alternatives - The MIT Press

second edition

Paperback (01 Oct 1993)

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Publisher's Synopsis

Provides a formal theory of nonmarket failure, analyzing such problems as redundant costs, monopoly, frequency of unanticipated externalities, and bureaucracy in such nonmarket institutions as foundations, universities, and government.A theory of market failures is well established in economics, but the same has not been true for the study of nonmarket failures. Markets or Governments remedies this situation by providing a formal theory of nonmarket failure, analyzing such problems as redundant costs, monopoly, frequency of unanticipated externalities, and bureaucracy in such nonmarket institutions as foundations, universities, and government. This new edition updates the data and results contained in the first edition and includes references and applications of the theory to the ongoing process of system transformation in Russia, Ukraine, and Eastern Europe. The discussion of earlier literature that is relevant to the theory of nonmarket failure has been expanded.

Book information

ISBN: 9780262731041
Publisher: The MIT Press
Imprint: The MIT Press
Pub date:
Edition: second edition
Language: English
Number of pages: 258
Weight: 340g
Height: 201mm
Width: 135mm
Spine width: 18mm