PAP3902 Lecture Notes - Lecture 4: Market Failure, Perfect Competition, Governmentality

• School: University of Ottawa
• Department: Public Administration
• Course: PAP3902
• Professor: Vlasios Melansakis

Document Summary

6 questions short essay and you pick three. (cid:1006) hou(cid:396)s a(cid:374)d (cid:1005)(cid:1009) (cid:373)i(cid:374)utes so (cid:1008)(cid:1009) (cid:373)i(cid:374)utes ea(cid:272)h (cid:271)ut should(cid:374)"t take (cid:455)ou this lo(cid:374)g. 3 are straight forward from lecture notes. i. e. there are benefits to proactive approaches to enforcement. First question a good answer is to say what is not a market a market failure (i. e. perfect competition), then when you deviate from that in some fashion than you get a market failure. Question 3 the perversity argument, jeopardy argument and utility argument. Question 4 is it a competition enough to handle all market failure or do you need that plus something else to (cid:396)egulatio(cid:374). Talk a(cid:271)out (cid:272)o(cid:373)petitio(cid:374) la(cid:449) (cid:271)(cid:455) desig(cid:374)i(cid:374)g is (cid:396)ea(cid:272)tio(cid:374)a(cid:396)(cid:455), it is (cid:272)ou(cid:396)t (cid:271)ased, e(cid:272)t . Question 5 institutional arrangements, the various arrangement of institutions, i. e. level of transparency. Question 6 maybe talk about the enforcement pyramid, more tools with each one being credible, right array of tools will result in a lower level of activity.