《外部性与公共物品》PPT课件

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1、Chapter18ExternalitiesandPublicGoods1Chapter18TopicstobeDiscussedExternalitiesWaysofCorrectingMarketFailureExternalitiesandPropertyRightsCommonPropertyResources2Chapter18TopicstobeDiscussedPublicGoodsPrivatePreferencesforPublicGoods3Chapter18External

2、itiesNegativeActionbyonepartyimposesacostonanotherpartyPositiveActionbyonepartybenefitsanotherparty4Chapter18ExternalCostScenarioSteelplantdumpingwasteinariverTheentiresteelmarketeffluentcanbereducedbyloweringoutput(fixedproportionsproductionfunction

3、)5Chapter18ExternalCostScenarioMarginalExternalCost(MEC)isthecostimposedonfishermendownstreamforeachlevelofproduction.MarginalSocialCost(MSC)isMCplusMEC.6Chapter18MCS=MCIDP1AggregatesocialcostofnegativeexternalityP1q1Q1MSCMSCIWhentherearenegativeexte

4、rnalities,themarginalsocialcostMSCishigherthanthemarginalcost.ExternalCostsFirmoutputPriceIndustryoutputPriceMECMECIThedifferencesisthemarginalexternalcostMEC.q*P*Q*TheindustrycompetitiveoutputisQ1whiletheefficientlevelisQ*.Theprofitmaximizingfirmpro

5、ducesatq1whiletheefficientoutputlevelisq*.7Chapter18ExternalCostNegativeExternalitiesencourageinefficientfirmstoremainintheindustryandcreateexcessiveproductioninthelongrun.8Chapter18ExternalitiesPositiveExternalitiesandInefficiencyExternalitiescanals

6、oresultintoolittleproduction,ascanbeshowninanexampleofhomerepairandlandscaping.9Chapter18MCP1ExternalBenefitsRepairLevelValueDIsresearchanddevelopmentdiscouragedbypositiveexternalities?q1MSBMEBWhentherearepositiveexternalities(thebenefitsofrepairston

7、eighbors),marginalsocialbenefitsMSBarehigherthanmarginalbenefitsD.q*P*Aself-interestedhomeownerinvestsq1inrepairs.Theefficientlevelofrepairsq*ishigher.ThehigherpriceP1discouragesrepair.10Chapter18WaysofCorrectingMarketFailureAssumption:Themarketfailu

8、reispollutionFixed-proportionproductiontechnologyMustreduceoutputtoreduceemissionsUseanoutputtaxtoreduceoutputInputsubstitutionpossiblebyalteringtechnology11Chapter18TheEfficientLevelofEmissionsLevelofEmissions246DollarsperunitofEmissions024681012141