Market failure and the role of public administration-Reference-Cited by-同舟云学术

Market failure and the role of public administration

Published:2022 Issue:06 Volume:2022 Page:23-38
ISSN:2558-9121
Container-title:Romanian Journal of Public Affairs
language:
Short-container-title:RJPA

Author:

,ACHIM Maria-Cristina

Abstract

The paper is about market failure and the influence of the institutional approach on it and it started from the idea of Veblen, a great 20th century economist, who presented institutionalism as an alternative to neoclassical economics. Based on neoclassical economics, in addition to explaining how a well-functioning market leads to the maximisation of welfare, an analysis of market failure was also made. The objective of the paper is to analyse market failure based on institutional economics. In addition, it was examined to determine how institutional solutions can result in limiting certain types of market failure.

Publisher

Center for Public Affairs - Faculty of Public Administration / SNSPA

Reference23 articles.

1. Aaron, H.J. (1990). Lessons for Tax Reform, in J. Slem- rod (ed.), Do Taxes Matter: The Impact of the Tax Reform Act of 1986.

2. Akerhielm, K. (1995). Does Class Size Matter?, Economics of Education Review, 13(3).

3. Akerlof, G. (1970). The Market for Lemons: Qualitative Uncertainty and the Market Mechanism, Quarterly Journal of Economics, 84.

4. Allen Consulting Group (2006). Slashing greenhouse gas emissions: Economic, social and environmental impacts for Australia, Melbourne: Allen Consulting Group, available online at: http://www.allenconsult.com.au.

5. Allen Consulting Group (2006). Deep Cuts in Greenhouse Emissions: Economic, Social and Environmental Impacts for Australia, Melbourne: Allen Consulting Group. http://www.allenconsult.com.au.