Markets or Governments, second edition

Released on by Charles Wolf, Jr.
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  • Markets or Governments, second edition Book Detail

  • Author : Charles Wolf, Jr.
  • Release Date : 1993-09-02
  • Publisher : MIT Press
  • Genre : Business & Economics
  • Pages : 260
  • ISBN 13 : 9780262731041
  • File Size : 61,61 MB
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Markets or Governments, second edition by Charles Wolf, Jr. PDF Summary

Book Description: Provides a formal theory of nonmarket failure, analyzing such problems as redundant costs, monopoly, frequency of unanticipated externalities, and bureaucracy in such nonmarket institutions as foundations, universities, and government. A theory of market failures is well established in economics, but the same has not been true for the study of nonmarket failures. Markets or Governments remedies this situation by providing a formal theory of nonmarket failure, analyzing such problems as redundant costs, monopoly, frequency of unanticipated externalities, and bureaucracy in such nonmarket institutions as foundations, universities, and government. This new edition updates the data and results contained in the first edition and includes references and applications of the theory to the ongoing process of system transformation in Russia, Ukraine, and Eastern Europe. The discussion of earlier literature that is relevant to the theory of nonmarket failure has been expanded.

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