Externalities, fixed costs and information.
The writer contends that Pigou's and Coase's well-known theoretical solutions to the problem of externalities—bargaining under low transaction costs, taxation according to measured preferences—have merely restated “the problem of social cost,” rather than tackling it. He reiterates the fact that ex...
| Publicado en: | Kyklos Vol. 51; no. 4; pp. 547 - 564 |
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| Formato: | Artículo |
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Wiley-Blackwell
1998
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| Acceso en línea: | Ver este registro en EBSCOhost |
| fields | @attributes: recordID: 1 pdfLink: plink: https://search.ebscohost.com/login.aspx?direct=true&db=ssf&AN=511036337&site=ehost-live header: @attributes: shortDbName: ssf uiTerm: 511036337 longDbName: Social Sciences Full Text (H.W. Wilson) uiTag: AN controlInfo: bkinfo: jinfo: jid: 00235962 KYK jtl: Kyklos issn: 00235962 maglogo: N pubinfo: dt: 1998 vid: 51 iid: 4 pid: 480 pub: Wiley-Blackwell artinfo: ui: 511036337 10.1111/1467-6435.00066 ppf: 547 ppct: 17 formats: fmt: @attributes: type: T tig: atl: Externalities, fixed costs and information. aug: au: Keppler, Jan Horst su: Externalities Transaction costs Resource allocation -- Mathematical models Information theory in economics Economics Indivisibles (Philosophy) sug: subj: Externalities Transaction costs Resource allocation -- Mathematical models Information theory in economics Economics Indivisibles (Philosophy) keyword: Indivisible goods ab: The writer contends that Pigou's and Coase's well-known theoretical solutions to the problem of externalities—bargaining under low transaction costs, taxation according to measured preferences—have merely restated “the problem of social cost,” rather than tackling it. He reiterates the fact that externalities exist where preferences are difficult to measure and transaction costs are high. Using Arrow's hypothesis that the existence of externalities is equivalent to the non-existence of markets, he demonstrates that externalities are characterized by high transaction costs and informational complexity. He then presents institution-based approaches as an appropriate response capable of addressing the complexity and the dynamic nature of externalities. pubtype: Academic Journal doctype: Article src: R language: English refInfo: copyright: @attributes: flag: N holdings: @attributes: islocal: N |
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