Supply of Publicly Financed Services: Market and Non-Market Failures

Evgenia Penkova-Pantaleeva (), Denitsa Gorchilova-Atanasova () and Alexander Valkov ()
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Evgenia Penkova-Pantaleeva: University of National and World Economy, Sofia, Bulgaria
Denitsa Gorchilova-Atanasova: University of National and World Economy, Sofia, Bulgaria
Alexander Valkov: University of National and World Economy, Sofia, Bulgaria

Godishnik na UNSS, 2019, issue 1, 9-18

Abstract: The article discusses the characteristics of the publicly financed healthcare, educational and social services with a special focus on their market and non-market failures. Traditional failures like informational asymmetry, incomplete market and territorial misbalances are tested. It becomes evident that those failures manifest not only in the cases of private supply, but also in the public sector. On the contrary, non-market failures become features of the private supply.

Keywords: publicly financed services; market and nonmarket failures; public and private supply (search for similar items in EconPapers)
JEL-codes: H42 H44 (search for similar items in EconPapers)
Date: 2019
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Persistent link: https://EconPapers.repec.org/RePEc:nwe:godish:y:2019:i:1:p:9-18

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