Failures in Governance: Restrictions on the Dominion of Markets
AbstractMarket augmentation is Olson's description for correcting market failure. Public good benefit is shared by all, private free-rider riven efforts to supply it will always be insufficient and sub-optimal. In sum, "market augmentation" is essentially and necessarily a collective, government function. It is the public benefit which is the focus of this paper.
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Bibliographic InfoPaper provided by California Irvine - School of Social Sciences in its series Papers with number 99-00-15.
Length: 38 pages
Date of creation: 2000
Date of revision:
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Postal: UNIVERSITY OF CALIFORNIA IRVINE, SCHOOL OF SOCIAL SCIENCES, IRVINECALIFORNIA 91717 U.S.A.
MARKET STRUCTURE ; PUBLIC GOODS;
Find related papers by JEL classification:
- D40 - Microeconomics - - Market Structure and Pricing - - - General
- H40 - Public Economics - - Publicly Provided Goods - - - General
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