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| Author: | Sinn, H-W. |
| Title: | The selection principle and market failure in systems competition. |
| Journal: | Journal of Public Economics
1997 : NOV, VOL. 66:2, p. 247-274 |
| Index terms: | MARKET RESEARCH MARKET SURVEYS FISCAL POLICY QUALITY CONTROL |
| Language: | eng |
| Abstract: | The article presents three models that illustrate the following wisdom: If governments stepped in where markets failed, reintroducing markets through the backdoor of systems competition will again result in market failure. The first is concerned with congestion-prone public goods and shows that fiscal competition may be ruinous for the governments.The second considers the insurance function of redistributive taxation and shows that systems competition may suffer from adverse selection. The third studies the role of quality regulation and shows that systems competition may be of laxity resulting in inefficiently low quality standards. |
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