Market failure
id:
market-failure-183-6127515
title:
Market failure
text:
In neoclassical economics, market failure is a situation in which the allocation of goods and services by a free market is not Pareto efficient, often leading to a net loss of economic value. 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 public goods, time-inconsistent preferences, information asymmetries, non-competitive markets, principal–agent problems, or e
brand slug:
wiki
category slug:
encyclopedia
description:
Concept in public goods economics
original url:
https://en.wikipedia.org/wiki/Market_failure
date created:
2002-08-07T10:29:07Z
date modified:
2024-09-06T22:46:57Z
main entity:
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image:
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fields total:
13
integrity:
16