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  • individuals
  • Market failures can be viewed as scenarios where individuals' pursuit of pure self-interest leads to results that are not efficient - that can be improved upon from the societal point of view. (wikipedia.org)
  • Following Amartya Sen, entitlement failure is an economic phenomenon, broadly defined, in which individuals and households are unable to obtain sufficient amounts of food through all available legal means (cash, labor, skills, credit, and other assets that comprise 'endowment') at the market's existing terms of exchange (costs of securing sufficient amounts of food). (barnardhealth.us)
  • Libertarian philosopher Roderick Long defines libertarianism as "any political position that advocates a radical redistribution of power from the coercive state to voluntary associations of free individuals", whether "voluntary association" takes the form of the free market or of communal co-operatives. (wikipedia.org)
  • production
  • Today, market forces organize, select and direct the production of goods and services in ways that would amaze and startle our ancestors. (nakedcapitalism.com)
  • Producer/production subsidies ensure producers are better off by either supplying market price support, direct support, or payments to factors of production. (wikipedia.org)
  • The objective of production subsidies is to expand production of a particular product more so that the market would promote but without raising the final price to consumers. (wikipedia.org)
  • Production subsidies are critically discussed in the literature as they can cause many problems including the additional cost of storing the extra produced products, depressing world market prices, and incentivizing producers to over-produce, for example, a farmer overproducing in terms of his land's carrying capacity. (wikipedia.org)
  • innovation
  • The same forces that so brilliantly coordinate resources in a global automotive market have also operated to plan obsolescence , to impede the provision of safety belts and air bags , and to obstruct the pace of fuel-saving innovation . (nakedcapitalism.com)
  • Instead of taking Joe Wilson-style risks on innovation, too many captains of the heathcare industry and the capitalists who fund them choose to perpetuate market failures and enrich themselves in the process. (nakedcapitalism.com)
  • Journal
  • A two-armed bandit theory of market pricing ," Journal of Economic Theory , Elsevier, vol. 9(2), pages 185-202, October. (repec.org)
  • economic
  • Assigning an economic value to a certain language in the linguistic market place means vesting it with some of the privileges and power related to that language. (wikipedia.org)
  • analysis
  • Our empirical analysis supports the hypothesis that a market failure is affecting the diffusion of user innovations developed by consumers for their own use. (ssrn.com)
  • potential
  • Combining a model of open access fisheries exploitation with a distance-based approach to incomplete markets, this paper explores potential conservation implications from labor and product market developments, such as enhanced transportation infrastructure. (repec.org)
  • governments
  • See in this respect language tax to counteract linguistic inequality, as also language for purposes of trade incurs costs to most countries and private entreprises, whereas governments of countries whose language occupies a leading position on the international language market refuse to subsidize the spread of other languages for which they believe they have no need. (wikipedia.org)
  • subsidy
  • The article reports that the European Union (EU) should not set a target for renewable energy for 2030 as it would hamper the carbon market and likely lead to a permanent subsidy for some technologies, according to major energy firm EDF. (ebscohost.com)
  • This type of subsidy is predominantly found in developed markets. (wikipedia.org)
  • Several
  • Elmer ran a second business flying a single-engine 'puddle jumper' plane around Wisconsin delivering parts to dairy farmers, while Jim later moved the boat project to a facility in Mora, Minnesota where he grew and retained it for several decades, transitioning into the market of luxury yachts. (wikipedia.org)
  • Papers
  • Explaining the Failure to Insure Catastrophic Risks ," The Geneva Papers on Risk and Insurance - Issues and Practice , Palgrave Macmillan;The Geneva Association, vol. 37(2), pages 206-227, April. (repec.org)
  • effectively
  • In some cases, monopolies can maintain themselves where there are "barriers to entry" that prevent other companies from effectively entering and competing in an industry or market. (wikipedia.org)
  • After becoming emeritus at the Wharton School, Guttentag developed the website The Mortgage Professor to help consumers navigate the home loan market more effectively. (wikipedia.org)
  • price
  • The model predicts that resource exploitation decreases in distance from efficient markets if the product price decays more rapidly over space than the opportunity cost of time. (repec.org)
  • critical
  • An ecological market failure exists when human activity in a market economy is exhausting critical non-renewable resources, disrupting fragile ecosystems services, or overloading biospheric waste absorption capacities. (wikipedia.org)
  • specifically
  • Starting in early 2014, Guttentag began focusing significant attention on the reverse mortgage market in the U.S., specifically the HUD sponsored HECM Reverse Mortgage program. (wikipedia.org)
  • access
  • It describes catch per unit effort across multiple fishing grounds that individually are characterized by open access equilibria with incomplete markets. (repec.org)
  • effects
  • The effects of labor and product market characteristics are identified, and their impacts are of the expected sign and statistically and economically significant. (repec.org)
  • exchange
  • Voluntary exchange is the act of buyers and sellers freely and willingly engaging in market transactions. (wikipedia.org)
  • Voluntary exchange is sometimes at the root of arguments about the morality of markets. (wikipedia.org)
  • The morality of markets, even those rarely adhering to true voluntary exchange, are nonetheless in dispute. (wikipedia.org)