Economic Theories on Market Failure - Dictionary of Arguments
Mause I 378
Market Failure/Economic Theories: Market failure exists (Fritsch 2014) (1) when goods are characterized by such strong positive externalities that they have the character of public goods (simultaneity of non-rivalry in consumption and the non-excludability of free riders), or cost structures are so strongly characterized by subadditivity that even the entire market volume can be provided by only one company at the lowest marginal costs (natural monopolies).
1. Fritsch, Michael. 2014. Marktversagen und Wirtschaftspolitik, 9. Aufl. München:
2014._____________Explanation of symbols: Roman numerals indicate the source, arabic numerals indicate the page number. The corresponding books are indicated on the right hand side. ((s)…): Comment by the sender of the contribution. Translations: Dictionary of Arguments The note [Author1]Vs[Author2] or [Author]Vs[term] is an addition from the Dictionary of Arguments. If a German edition is specified, the page numbers refer to this edition.
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