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- Market_failure abstract "Market failure is a concept within economic theory describing when the allocation of goods and services by a free market is not efficient. That is, there exists another conceivable outcome where a market participant may be made better-off without making someone else worse-off. (The outcome is not Pareto optimal.) Market failures can be viewed as scenarios where individuals' pursuit of pure self-interest leads to results that are not efficient – that can be improved upon from the societal point-of-view. The first known use of the term by economists was in 1958, but the concept has been traced back to the Victorian philosopher Henry Sidgwick.Market failures are often associated with time-inconsistent preferences, information asymmetries, non-competitive markets, principal–agent problems, externalities, or public goods. The existence of a market failure is often the reason for government intervention in a particular market. Economists, especially microeconomists, are often concerned with the causes of market failure and possible means of correction. Such analysis plays an important role in many types of public policy decisions and studies. However, some types of government policy interventions, such as taxes, subsidies, bailouts, wage and price controls, and regulations, including attempts to correct market failure, may also lead to an inefficient allocation of resources, sometimes called government failure. Thus, there is sometimes a choice between imperfect outcomes, i.e. imperfect market outcomes with or without government interventions. But either way, if a market failure exists the outcome is not Pareto efficient. Mainstream neoclassical and Keynesian economists believe that it may be possible for a government to improve the inefficient market outcome, while several heterodox schools of thought disagree with this.".
- Market_failure wikiPageExternalLink PThy_Chap_18.html.
- Market_failure wikiPageID "68754".
- Market_failure wikiPageRevisionID "606723817".
- Market_failure hasPhotoCollection Market_failure.
- Market_failure subject Category:Economic_problems.
- Market_failure subject Category:Market_failure.
- Market_failure type Abstraction100002137.
- Market_failure type Attribute100024264.
- Market_failure type Condition113920835.
- Market_failure type Difficulty114408086.
- Market_failure type EconomicProblems.
- Market_failure type Problem114410605.
- Market_failure type State100024720.
- Market_failure comment "Market failure is a concept within economic theory describing when the allocation of goods and services by a free market is not efficient. That is, there exists another conceivable outcome where a market participant may be made better-off without making someone else worse-off.".
- Market_failure label "Défaillance du marché".
- Market_failure label "Falha de mercado".
- Market_failure label "Fallimento del mercato".
- Market_failure label "Fallo de mercado".
- Market_failure label "Market failure".
- Market_failure label "Marktfalen".
- Market_failure label "Marktversagen".
- Market_failure label "Zawodność rynku".
- Market_failure label "Фиаско рынка".
- Market_failure label "إخفاق السوق".
- Market_failure label "市场失灵".
- Market_failure label "市場の失敗".
- Market_failure sameAs Selhání_trhu.
- Market_failure sameAs Marktversagen.
- Market_failure sameAs Fallo_de_mercado.
- Market_failure sameAs Merkatuaren_akats.
- Market_failure sameAs Défaillance_du_marché.
- Market_failure sameAs Fallimento_del_mercato.
- Market_failure sameAs 市場の失敗.
- Market_failure sameAs 시장_실패.
- Market_failure sameAs Marktfalen.
- Market_failure sameAs Zawodność_rynku.
- Market_failure sameAs Falha_de_mercado.
- Market_failure sameAs m.0hy__.
- Market_failure sameAs Q622657.
- Market_failure sameAs Q622657.
- Market_failure sameAs Market_failure.
- Market_failure wasDerivedFrom Market_failure?oldid=606723817.
- Market_failure isPrimaryTopicOf Market_failure.