外部性和市场无效率.pdf

Externalities Course Contents  Externalities  Externalities and Market Inefficiency  Public Policies Toward Externalities Private Solutions to Externalities 2 Externalities • Externality – The uncompensated impact of one person’s  actions on the well‐being of a bystander • Negative externality – Impact on the bystander is adverse • Positive externality – Impact on the bystander is beneficial 3 Externalities • Negative externalities – Exhaust from automobiles – Cigarette smoking 4 Externalities • Positive externalities – Research into new technologies – Restored historic buildings 5 Externalities and Market Inefficiency • Recall that: Adam Smith’s “invisible hand” of the  marketplace leads self‐interested buyers and sellers in a  market to maximize the total benefit that society can derive  from a market. But market failures can still  happen. 6 Externalities and Market Inefficiency The Market for Aluminum  Demand curve: the value to buyers.  Supply curve: the costs of sellers.  The equilibrium quantity QMARKET: maximizes the sum of producer and consumer surplus. © 2015 Cengage Learning. All Rights Reserved. May not be copied, scanned, or duplicated, in whole or in part, except for use as 7 permitted in a license distributed with a certain product or service or otherwise on a password-protected website for classroom use.