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Supply of Publicly Financed Services: Market and Non-Market Failures

Author

Listed:
  • Evgenia Penkova-Pantaleeva

    (University of National and World Economy, Sofia, Bulgaria)

  • Denitsa Gorchilova-Atanasova

    (University of National and World Economy, Sofia, Bulgaria)

  • Alexander Valkov

    (University of National and World Economy, Sofia, Bulgaria)

Abstract

The article discusses the characteristics of the publicly financed healthcare, educational and social services with a special focus on their market and non-market failures. Traditional failures like informational asymmetry, incomplete market and territorial misbalances are tested. It becomes evident that those failures manifest not only in the cases of private supply, but also in the public sector. On the contrary, non-market failures become features of the private supply.

Suggested Citation

  • Evgenia Penkova-Pantaleeva & Denitsa Gorchilova-Atanasova & Alexander Valkov, 2019. "Supply of Publicly Financed Services: Market and Non-Market Failures," Godishnik na UNSS, University of National and World Economy, Sofia, Bulgaria, issue 1, pages 9-18, December.
    • Handle: RePEc:nwe:godish:y:2019:i:1:p:9-18
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    File URL: http://unwe-yearbook.org/en/journalissues/article/10157
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    More about this item

    Keywords

    publicly financed services; market and nonmarket failures; public and private supply;
    All these keywords.

    JEL classification:

    • H42 - Public Economics - - Publicly Provided Goods - - - Publicly Provided Private Goods
    • H44 - Public Economics - - Publicly Provided Goods - - - Publicly Provided Goods: Mixed Markets

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