Market failures
Content for week of Monday, July 13, 2020–Friday, July 17, 2020
Readings
- 11.7–11.14 in Economy, Society, and Public Policy1
- A. Danny Ellerman, “US Experience with Emissions Trading”2
- The Lorax, “How Bad Can I Be?”
- Freakonomics, “Parking Is Hell,” Episode 118, March 13, 2013
- All Things Considered, “Nobel Laureate: ‘I’ve Been Wrong So Often, I Don’t Find It Extraordinary At All’,” May 8, 2012
- All Things Considered, “The Nobel Laureate Who Figured Out How To Deal With Annoying People,” September 3, 2013
Other useful resources
I pause during the “Addressing external effects” and tell you to watch a video on cap and trade systems. Here’s that video:
Videos
Videos for each section of the lecture are available at this YouTube playlist.
- Introduction
- Institutions, markets, and prices
- Public goods
- External effects
- Addressing external effects
You can also watch the playlist (and skip around to different sections) here:
The CORE Team, Economy, Society, and Public Policy, 2019, https://www.core-econ.org/espp/.↩︎
A. Danny Ellerman, “US Experience with Emissions Trading,” CESifo DICE Report 5, no. 4 (2007): 13–16.↩︎