Funktionen des öffentlichen Sektors - Analytische Grundlagen

[Machine translation] Goods that no one can be excluded from using (non-, excludability) and/or the use of which does not prevent anyone else from doing so,, Using these as well (non-rivalry) is usually not used by, Market provided. A joint provision, for example through, The public sector is therefore necessary., The existence of market power also requires public intervention, sector. While competition law should often be sufficient to 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 causes, 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, resulting in necessary public intervention, sector can lead., Information asymmetries, such as adverse selection, moral hazard, or the, Principal agent problems may also require government intervention.