{"id":4183,"date":"2019-12-17T08:26:11","date_gmt":"2019-12-17T02:56:11","guid":{"rendered":"https:\/\/atuljha.com\/blog\/?p=4183"},"modified":"2019-12-17T08:26:11","modified_gmt":"2019-12-17T02:56:11","slug":"market-failures","status":"publish","type":"post","link":"https:\/\/atuljha.com\/blog\/2019\/12\/17\/market-failures\/","title":{"rendered":"market failures"},"content":{"rendered":"\n<p>In the book: in the service of the republic, the author talks about market failures.&nbsp;<\/p>\n\n\n\n<ul><li>Externalities  Where an external situation defines\/effects a group in positive or negative ways.  A university resulting in making city hotbed of innovation falls in externality. A factory emitting noise and smoke making neighborhood sick becomes a negative externality.<\/li><li>Asymmetric Information is found in situations where customers buy medicine with the premise that it is not adulterated. The fear of adulteration will change his buying behavior affecting manufacturers.\u00a0<\/li><li>Market power is when a bunch of companies owns the market.  It is like Ola\/Uber controlling the ride sharing.\u00a0<\/li><li>Public goods are the things that are non-rival and non-excludable like breathing air.\u00a0<\/li><\/ul>\n\n\n\n<p>I found it worth sharing.&nbsp;<\/p>\n","protected":false},"excerpt":{"rendered":"<p>In the book: in the service of the republic, the author talks about market failures.&nbsp; Externalities Where an external situation defines\/effects a group in positive or negative ways. A university resulting in making city hotbed of innovation falls in externality. A factory emitting noise and smoke making neighborhood sick becomes a negative externality. Asymmetric Information &hellip; <\/p>\n<p class=\"link-more\"><a href=\"https:\/\/atuljha.com\/blog\/2019\/12\/17\/market-failures\/\" class=\"more-link\">Continue reading<span class=\"screen-reader-text\"> &#8220;market failures&#8221;<\/span><\/a><\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[249],"tags":[803],"_links":{"self":[{"href":"https:\/\/atuljha.com\/blog\/wp-json\/wp\/v2\/posts\/4183"}],"collection":[{"href":"https:\/\/atuljha.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/atuljha.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/atuljha.com\/blog\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/atuljha.com\/blog\/wp-json\/wp\/v2\/comments?post=4183"}],"version-history":[{"count":1,"href":"https:\/\/atuljha.com\/blog\/wp-json\/wp\/v2\/posts\/4183\/revisions"}],"predecessor-version":[{"id":4184,"href":"https:\/\/atuljha.com\/blog\/wp-json\/wp\/v2\/posts\/4183\/revisions\/4184"}],"wp:attachment":[{"href":"https:\/\/atuljha.com\/blog\/wp-json\/wp\/v2\/media?parent=4183"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/atuljha.com\/blog\/wp-json\/wp\/v2\/categories?post=4183"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/atuljha.com\/blog\/wp-json\/wp\/v2\/tags?post=4183"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}