IDEAS home Printed from https://ideas.repec.org/a/bla/kyklos/v51y1998i4p547-63.html
   My bibliography  Save this article

Externalities, Fixed Costs and Information

Author

Listed:
  • Keppler, Jan Horst

Abstract

The well-known theoretical solutions to the problem of externalities developed by Arthur C. Pigou and Ronald H. Coase--taxation according to measured preferences, bargaining under low transaction costs--have restated the problem of social cost, rather than addressed it: externalities exist where preferences are difficult to measure and transaction costs are high. Building on Kenneth J. Arrow's conjecture that the existence of externalities is equivalent to the nonexistence of markets, the article demonstrates that externalities are characterized by informational complexity and high transaction costs. As an appropriate response capable of addressing the complexity and the dynamic nature of externalities, institution-based approaches are presented. Copyright 1998 by WWZ and Helbing & Lichtenhahn Verlag AG

Suggested Citation

  • Keppler, Jan Horst, 1998. "Externalities, Fixed Costs and Information," Kyklos, Wiley Blackwell, vol. 51(4), pages 547-563.
  • Handle: RePEc:bla:kyklos:v:51:y:1998:i:4:p:547-63
    as

    Download full text from publisher

    To our knowledge, this item is not available for download. To find whether it is available, there are three options:
    1. Check below whether another version of this item is available online.
    2. Check on the provider's web page whether it is in fact available.
    3. Perform a search for a similarly titled item that would be available.

    Citations

    Citations are extracted by the CitEc Project, subscribe to its RSS feed for this item.
    as


    Cited by:

    1. Keppler, Jan Horst, 2010. "« Going with Coase against Coase : The Dynamic Approach to the Internalization of External Effects »," MPRA Paper 30081, University Library of Munich, Germany.
    2. Keppler, Jan Horst, 2017. "Rationales for capacity remuneration mechanisms: Security of supply externalities and asymmetric investment incentives," Energy Policy, Elsevier, vol. 105(C), pages 562-570.
    3. Keppler, Jan Horst, 2009. "Barriers to entry : abolishing the barriers to understanding," MPRA Paper 44242, University Library of Munich, Germany, revised 2009.

    More about this item

    Statistics

    Access and download statistics

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:bla:kyklos:v:51:y:1998:i:4:p:547-63. See general information about how to correct material in RePEc.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: (Wiley-Blackwell Digital Licensing) or (Christopher F. Baum). General contact details of provider: http://www.blackwellpublishing.com/journal.asp?ref=0023-5962 .

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    We have no references for this item. You can help adding them by using this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service hosted by the Research Division of the Federal Reserve Bank of St. Louis . RePEc uses bibliographic data supplied by the respective publishers.