罗伯特·S.平狄克-微观经济学（第九版）PindyckPPT_Ch.18.pptxVIP

MICROECONOMICSby Robert S. Pindyck Daniel RubinfeldNinth EditionCopyright ? 2016, 2012, 2009 Pearson Education, Inc. All Rights Reserved Chapter 18Externalities and Public Goods (1 of 2) CHAPTER OUTLINE18.1 Externalities18.2 Ways of Correcting Market Failure18.2 Stock Externalities18.2 Externalities and Property Rights18.2 Common Property Resources18.2 Public GoodsLIST OF EXAMPLES18.1 The Costs and Benefits of Sulfur Dioxide Emissions18.1 Emissions Trading and Clean Air18.1 Regulating Municipal Solid Wastes18.1 Global Warming18.1 The Coase Theorem at Work18.1 Crawfish Fishing in Louisiana18.1 The Demand for Clean Air Externalities and Public Goods (2 of 2)In this chapter we study externalities—the effects of production and consumption activities not directly reflected in the market—and public goods—goods that benefit all consumers but that the market either undersupplies or does not supply at all.When externalities are present, the price of a good need not reflect its social value. As a result, firms may produce too much or too little, so that the market outcome is inefficient.The marginal cost of providing a public good to an additional consumer is zero, and people cannot be prevented from consuming it. We distinguish between those goods that are difficult to provide privately and those that could have been provided by the market. 18.1 Externalities (1 of 4)externality Action by either a producer or a consumer which affects other producers or consumers, but is not accounted for in the market price.Externalities can be negative—when the action of one party imposes costs on another party—or positive—when the action of one party benefits another party.Negative Externalities and Inefficiencymarginal external cost Increase in cost imposed externally as one or more firms increase output by one unit.marginal social cost Sum of the marginal cost of production and the marginal external cost. 18.1 Externalities (2 of 4)FIGURE 18.1 (1 of 2)EXTERNAL COSTWhen there are negative