版权说明:本文档由用户提供并上传,收益归属内容提供方,若内容存在侵权,请进行举报或认领
文档简介
MarketFailureWhenthemarketdoesnotefficientlyallocateresourcesMonopolyExternalitiesPublicgoodsImperfectInformationMarketFailureJustificationforgovernmentintervention?Necessary,butnotsufficientWhendecisionmakersdonotconsiderallcosts(orbenefits)oftheiractionsTwoviewsExternalitiesRonaldCoase(1910-2013)A.C.Pigou(1877-1959)PigouvianApproachSocialCost=PrivateCost+ExternalCostPriceofbeerHangoverDamagetoothersBoorishbehaviorDrinkingAlcoholCashmereExternalitiesPollutionFreeMarket:P1,Q1OptimalOutcome:P*,Q*cashmere$D1SprivateQ1P1P*Q*SsocialExternalcostHowcansocietyachievesocialoptimum?Imposetax=marginalexternalcostFreemarketoverproducesgoodsthatgenerateanegativeexternalityInternalizetheexternality!“Pigoutax”GettingaticketforexceedingthespeedlimitNotstudyingasmuchforyourecontestasyoushouldhavesoyougetalowergradethanyouwantAllowingyourcellphonetoringinclassGettingafluimmunizationshotWhichofthefollowingisanexampleofanegativeexternality?1ExternalitiesareduetoincompletepropertyrightsassignmentCoasianApproachMassiveCoalCoasianApproach
CoaseTheoremIfpropertyrightsarewell-definedandtransactionscostsarelowenough,thenprivatebargainingcanresultinanefficientoutcome.
CorollaryEfficiencydoesnotdependoninitialassignmentofpropertyrights.ExternalitiesareduetoincompletepropertyrightsassignmentPollutionRevisitedMassiveCoalCheshire,Ohiov.AEPAEPpaid$20milliontobuythe221-residenttownin2002Afactory'sproductionprocesscreatessludgethatpoursintoariver.Thissludgemakesitdifficulttofishintheriver,increasingthecostsofthelocalfishermenby$5000.Thefactorycaninstallawaterfiltersystemfor$4100,andthefishermencanutilizeaweightedfishingnetsystem(togetunderthesludge)for$3250.Bothsystemswouldremedythesludgedamagetothefishermen.Whatoutcomewouldyouexpectunderthefollowingconditions:Transactionscostslowandfactoryisnotliablefordamage?Transactionscostslowandfactoryisliablefordamage?Transactionscostshighandfactoryisliablefordamage?FactoryFilter:$4100Nets:$3250Damage:$5000Whichsystemisusedandwhopays?CharacteristicsofGoodsRivalNon-RivalExcludableNon-ExcludablePrivateGoodsCommonResourcesPublicGoodsClubGoodsNeighborhoodParkFundTakeoutasheetofpaperandtearitinto8smallsquares.Putyourinitialsoneachsquare.VCMGovernmentProvidedGoodsandServicesSchoolsRoadsPoliceCourtsFireDepartmentWaterLibraryHealthCareTransportationNationalDefenseSocialSecurityMedicarePostalServiceFBI,CIA,SEC,FTC,FCC,NSF,FDA,FDIC,HUD$680bPercapitaexpenditurePublicGoodsNon-rivalandNon-excludableSubjecttoa“free-rider”problemSocialOptimumOutputcanonlybeprovidedatonelevelforallMustfindsomewaytoaggregateindividualMBOptimumrequires:MSB=MSC012345Thetablebelowshowsthemarginalbenefitfromsubmarinesfortheonlytwocitizensofacountry.Submarinesareapublicgood.Ifsubmarinescost$145apiecetoproduce,whatistheefficientquantityofsubmarines?JacobMeiLiMarginalbenefit(dollarspersub)QuantityMarginalbenefit(dollarspersub)--0--10011507521005035025410050CommonResourcesNon-excludableRivalinconsumptionAfricanElephantFishBisonTrafficWi-Finetworks“Tragedyofthecommons”"WhywouldItoleratelivingorcoexistingwithanelephantthatissodestructive?"saysthevillagechief."Itdestroysourcrops,ourfields,ourtrees,ourenvironment.Itisbecauseofthevalueassociatedwiththeelephant
thatmakesuscoexistwithit."ApileofAmericanbisonskullsinthemid-1870s1980:1.3m1990:0.6mGlobalCaptureofAtlanticCod(tonnes)ClickerReviewEatingahamburgertosatisfyyourhungerSmokingacigaretteonadesertedislandAllowingyourcellphonetoringinclassGettingafluimmunizationshotWhichofthefollowingislikelytogenerateapositiveexternality?1ElizashouldpayLiting$400sothatshemaykeephercat.ElizashouldpayLiting$350topurchasehertissuesandallergymedication.LitingshouldpayEliza$325togivehercataway.Litingshouldmove.Eliza’scatcausesLitingtosneeze.Elizavaluesthecat’scompanionshipat$300peryear.ThecosttoLitingoftissuesandherallergymedicationis$350peryear.BasedontheCoaseTheorem,3$300,thebenefittothemiddlefamily$100,thebenefittothefamilythatvaluesittheleast$500,thebenefittothefamilythatvaluesitthemost.$1,500,thesumofthebenefitstoeachofthefivefamiliesAsmalltownoffivefamiliesisconsideringhavingafireworksdisplay.Thevalueofthedisplaytoeachfamilyis:$100fortheChens,$200fortheWangs,$300fortheAdairs,$400fortheGormans,and$500fortheJurgens.Thevalueofthepublicgoodisequalto4apurepublicgoodaprivategoodanimperfectpublicgoodbecauseofrivalryinconsumptionanimperfectprivategoodbecauseofnon-excludabilityMylesfindsthatwhenalotofpeopleareloggedontohiscollege'sInternetserver,ittakesmuchlongerforhimtodownloadhishomeworkassignmentsfromtheInternet.Accesstothecollegeserverisanexampleof5thecowisraisedindevelopedcountries,whiletheelephantlivesprimarilyinless-developedcountries.cowsareprivategoods,whileelephantstendtoroamfreelywithoutowners.cowsandelephantsarepublicgoods,butivoryisnonrival.ivoryisnonrivalandnonexclusive,butbeefisrivalandexclusiveThecommercialvalueofivoryisathreattotheelephant,butthe
温馨提示
- 1. 本站所有资源如无特殊说明,都需要本地电脑安装OFFICE2007和PDF阅读器。图纸软件为CAD,CAXA,PROE,UG,SolidWorks等.压缩文件请下载最新的WinRAR软件解压。
- 2. 本站的文档不包含任何第三方提供的附件图纸等,如果需要附件,请联系上传者。文件的所有权益归上传用户所有。
- 3. 本站RAR压缩包中若带图纸,网页内容里面会有图纸预览,若没有图纸预览就没有图纸。
- 4. 未经权益所有人同意不得将文件中的内容挪作商业或盈利用途。
- 5. 人人文库网仅提供信息存储空间,仅对用户上传内容的表现方式做保护处理,对用户上传分享的文档内容本身不做任何修改或编辑,并不能对任何下载内容负责。
- 6. 下载文件中如有侵权或不适当内容,请与我们联系,我们立即纠正。
- 7. 本站不保证下载资源的准确性、安全性和完整性, 同时也不承担用户因使用这些下载资源对自己和他人造成任何形式的伤害或损失。
最新文档
- 冷弯型钢轻型钢项目计划书
- 瓷土开采项目立项申请报告
- 矿泉水资源开采项目立项申请报告
- 中考复习名人名言的背后故事
- 上海市浦东新区2024届高三下学期三模语文试卷(解析版)
- 2023年摆件投资申请报告
- 语文名著时代背景介绍
- 中考复习语言艺术与人文内涵
- 中考语文复习古文填空技巧
- 天大2020年秋学期《模拟电子技术基础》第5组离线答案
- 【建模教程】-节水洗衣机-数学建模
- 服装技能竞赛理论考试题库(含答案)
- 教育公共基础知识整理版
- 国有企业员工违纪违规行为处分规定集合14篇
- 某机场新建围界工程施工组织设计
- 河南理工大学电气学院毕业论文110kV变电所设计说明书
- “减”与“增”-浅谈“五育融合”的小学英语作业设计 论文
- 气瓶检验站呼吸器缠绕气瓶
- DF8B机车电气动作试验
- 安全生产月主题演讲稿10篇
- 全过程工程咨询服务大纲
评论
0/150
提交评论