notes-econ-marketFailuresList

IP monopolies where the holder has an incentive to supply very little of the good, in exchange for a high price:

• domaining
• univ ip

providing information:

• registries of medical accidentals and adverse events
• required nutrition info on food products

and its opposite:

• privacy (eg not selling customer information or at least providing an opt-in or opt-out)

research

• science (but see my idea about funding science with prediction markets)
• news/journalism
  • journalism for entertainment is a market failure. Need to support journalism as a public good but how to partition funding without corruption? Maybe make it mandatory for each citizen to purchase a news subscription, but make it their choice which one to purchase?

Links:

• https://en.wikipedia.org/wiki/Market_failure

" pjc50 13 hours ago [-]

> Both are electives

This is critical, because it makes them actually price-sensitive. You can't choose not to have heart disease, though.

Free markets have a bunch of conditions on their efficiency that are often ignored by advocates and don't always apply: must be plurality of non-coordinated buyers and sellers, must be feasible for participants to determine quality of goods (Akerloff's "lemons"), must be low barriers to entry, must be feasible for participants to choose not to do a transaction, and so on. " -- [1]