Markets or Governments ― Choosing Between Imperfect Alternatives : A Rand Research Study
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A theory of market failures is well established in economics, but the same has notbeen true for the study of nonmarket failures. Markets or Governments remedies this situation byproviding a formal theory of nonmarket failure, analyzing such problems as redundant costs,monopoly, frequency of unanticipated externalities, and bureaucracy in such nonmarket institutionsas foundations, universities, and government. This new edition updates the data and resultscontained in the first edition and includes references and applications of the theory to the ongoingprocess of system transformation in Russia, Ukraine, and Eastern Europe. The discussion of earlierliterature that is relevant to the theory of nonmarket failure has been expanded.Charles Wolf, Jr.,is Dean of the RAND Graduate School of Policy Studies and Director of RAND's research program inInternational Economic Policy.
作者簡介
Charles Wolf, Jr., is Dean of the RAND Graduate School of Policy Studies and Director of RAND's research program in International Economic Policy.
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