EntropediaEntropedia

Market Failures

Type

Economic concept

Causes

Incomplete information • Asymmetric information • Externalities • Public goods • Monopolies • Imperfect competition

Consequences

Inefficiencies • Wasted resources • Losses for market participants • Social harm

Notable failures

Time • Information • Coordination • Power • Risk

Interventions and regulations

Government policies • Market regulations • Information dissemination • Coordination initiatives • Antitrust laws • Risk management

Market Failures