Sometimes these indirect effects are tiny. But when they are large they can become problematic—what economists call externalities. Externalities are among the main reasons governments intervene in the ...
Sometimes these indirect effects are tiny. But when they are large they can become problematic—what economists call externalities. Externalities are among the main reasons governments intervene in the ...
This study finds that OPEC’s market power has unintentionally reduced global carbon emissions by limiting oil production, offsetting some climate damage despite the economic inefficiencies associated ...
Oberholzer-Gee, Felix, and Miki Mitsunari. "Information Regulation: Do the Victims of Externalities Pay Attention?" Journal of Regulatory Economics 30, no. 2 (August 2006): 141–158.
Market power reduces equilibrium quantities and distorts production, typically causing welfare losses. However, as Buchanan (1969) noted, market power may mitigate overproduction from negative ...