Abstract
[Machine translation] goods from whose use no one can be excluded (non-, excludeability) and/or the use of which does not prevent anyone else from doing so, Using them as well (non-rivalry) is usually not required by, Market provided. A joint provision, for example through the, The public sector is therefore needed., The existence of market power also requires public intervention, sector. While competition law should in many cases be sufficient to prevent monopolies, or to break up oligopolies, is this in the case of natural monopolies, such as, most network industries, often not enough., External effects exist when the action of an economic entity results in, has a direct impact on someone else's benefits or production costs,, without this being compensated for by the market. In this case, market prices are, socially inefficient, leading to a necessary public intervention, can lead the sector., information asymmetries, such as adverse selection, moral hazard, or the, Principal-agent problems may also require government intervention.
Titolo tradotto del contributo | [Machine translation] Public Sector Functions - Analytical Basics |
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Lingua originale | Tedesco |
Titolo della pubblicazione ospite | Der öffentliche Sektor - Einführung in die Finanzwissenschaft |
Editore | Springer Gabler |
Pagine | 49-70 |
Numero di pagine | 22 |
ISBN (stampa) | 978-3-658-36041-2 |
DOI | |
Stato di pubblicazione | Pubblicato - 2022 |