KnowraMarket failureLinked fromLinked fromThe 44 pages that link to Market failure, each with the reason it gives.All 44Related 22Narrower topic 8Compared with 14Public goodsNarrower topic: Public-good characteristics are one reason private markets can fail to provide an efficient quantity.Information asymmetryNarrower topic: Information asymmetry is one possible source of inefficient market outcomes.Transaction CostNarrower topic: Transaction costs can prevent trades that would otherwise benefit both parties.Price mechanismNarrower topic: It describes conditions where price coordination alone produces inefficient outcomes.First welfare theoremNarrower topic: Market failures identify settings where competitive equilibrium may not satisfy the theorem's conclusion.Joseph StiglitzNarrower topic: Information gaps are one reason Stiglitz challenged the presumption that markets always work efficiently.George AkerlofNarrower topic: The lemons model demonstrates how private information can prevent mutually beneficial trades.Health Care Economics and OrganizationsNarrower topic: Information gaps, externalities, and market power help explain intervention in health care.