Discussion of the Paper by Professor Bénard

Michael Kaser and Richard Portes
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Michael Kaser: St Antony’s College
Richard Portes: Princeton University

A chapter in Planning and Market Relations, 1971, pp 249-253 from Palgrave Macmillan

Abstract: Abstract Professor Dorfman said that Professor Bénard had raised two basic questions: First, what were the grounds for subsidising or penalising the consumption of certain goods, and to what extent should we do so? That was the problem of model A. Second, why did the government sometimes provide or subsidise goods that were also available through private sources, and to what extent should this be done? That was the topic of model B. Professor Bénard accepted the three conventional justifications for taxes or subsidies on certain goods — externalities, public goods and redistribution. His models, however, were built around a fourth point, the need to correct for deficient information on the part of consumers. Professor Dorfman wished to question this argument, while adding a fifth.

Keywords: Income Distribution; Traffic Safety; Market Relation; Private Market; Merit Good (search for similar items in EconPapers)
Date: 1971
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Persistent link: https://EconPapers.repec.org/RePEc:pal:intecp:978-1-349-15410-4_21

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DOI: 10.1007/978-1-349-15410-4_21

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