IDEAS home Printed from https://ideas.repec.org/p/bon/boncrc/crctr224_2020_210.html
   My bibliography  Save this paper

Preparing for the Next Crisis: How to Secure the Supply of Essential Goods and Services

Author

Listed:
  • Natalia Fabra
  • Massimo Motta
  • Martin Peitz

Abstract

The COVID-19 crisis has demonstrated a lack of preparedness for pandemics and other global shocks that require the quick availability of some essential goods and services. As we argue, private incentives are often insufficient to be prepared for rare events with a large negative effect. Instead, governments and preferably supranational institutions should implement mechanisms that make sure that prevention, detection and mitigation measures are taken. In particular, the economics of electricity capacity markets provides important lessons for the provision of essential goods in such events.

Suggested Citation

  • Natalia Fabra & Massimo Motta & Martin Peitz, 2020. "Preparing for the Next Crisis: How to Secure the Supply of Essential Goods and Services," CRC TR 224 Discussion Paper Series crctr224_2020_210, University of Bonn and University of Mannheim, Germany.
  • Handle: RePEc:bon:boncrc:crctr224_2020_210
    as

    Download full text from publisher

    File URL: https://www.crctr224.de/research/discussion-papers/archive/dp210
    Download Restriction: no
    ---><---

    Citations

    RePEc Biblio mentions

    As found on the RePEc Biblio, the curated bibliography for Economics:
    1. > Economics of Welfare > Health Economics > Economics of Pandemics > Preparation > Infrastructure and Research

    Citations

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


    Cited by:

    1. Ockenfels Axel, 2021. "Marktdesign für eine resiliente Impfstoff-produktion," Perspektiven der Wirtschaftspolitik, De Gruyter, vol. 22(3), pages 259-269, September.
    2. Hakenes, Hendrik, 2021. "Face Masks, Yeast, and Toilet Paper: Panic Purchases and Stockpiling," VfS Annual Conference 2021 (Virtual Conference): Climate Economics 242360, Verein für Socialpolitik / German Economic Association.
    3. Natalia Fabra & Massimo Motta & Martin Peitz, 2021. "Versorgungsengpässe während einer Pandemie und was dagegen getan werden kann," Wirtschaftsdienst, Springer;ZBW - Leibniz Information Centre for Economics, vol. 101(8), pages 600-603, August.
    4. Achim Wambach, 2021. "Besseres Marktdesign im Gesundheitswesen," Wirtschaftsdienst, Springer;ZBW - Leibniz Information Centre for Economics, vol. 101(8), pages 590-593, August.

    More about this item

    Keywords

    resilience; prevention; detection; mitigation; electricity capacity markets; essential goods;
    All these keywords.

    JEL classification:

    • L22 - Industrial Organization - - Firm Objectives, Organization, and Behavior - - - Firm Organization and Market Structure
    • L23 - Industrial Organization - - Firm Objectives, Organization, and Behavior - - - Organization of Production
    • L51 - Industrial Organization - - Regulation and Industrial Policy - - - Economics of Regulation
    • L52 - Industrial Organization - - Regulation and Industrial Policy - - - Industrial Policy; Sectoral Planning Methods
    • D47 - Microeconomics - - Market Structure, Pricing, and Design - - - Market Design
    • D92 - Microeconomics - - Micro-Based Behavioral Economics - - - Intertemporal Firm Choice, Investment, Capacity, and Financing

    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:bon:boncrc:crctr224_2020_210. See general information about how to correct material in RePEc.

    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 bibliographic 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.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: CRC Office (email available below). General contact details of provider: https://www.crctr224.de .

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

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.