Government failure as failure of the market for politics

Reiner Eichenberger and David Stadelmann

Chapter 47 in Elgar Encyclopedia of Public Choice, 2025, pp 333-339 from Edward Elgar Publishing

Abstract: Government failure can be understood as the failure of the market for politics. Externalities, monopoly power, and asymmetric information play a similar role in the market for politics as they do in markets for goods and services. Viewing government failure through this lens provides a unifying perspective, allowing economists to analyze political issues—and government failure in particular—with the same rigor used in examining typical economic issues and market failures.

Keywords: Market failure; Government failure; Politics as a market; Solutions to government failure (search for similar items in EconPapers)
Date: 2025
ISBN: 9781802207743
References: Add references at CitEc
Citations:

Downloads: (external link)
https://www.elgaronline.com/doi/10.4337/9781802207750.00052 (application/pdf)
Our link check indicates that this URL is bad, the error code is: 403 Forbidden

Related works:
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:elg:eechap:21298_47

Ordering information: This item can be ordered from
http://www.e-elgar.com

Access Statistics for this chapter

More chapters in Chapters from Edward Elgar Publishing
Bibliographic data for series maintained by Jack Sweeney ().