BCOR 3010 Class #11 - Travelocity, Nonmarket Failures (1)

BCOR 3010 Class #11 - Travelocity, Nonmarket Failures (1) -...

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Click to edit Master subtitle style BCOR 3010 Class #11: Case #2- Travelocity /Nonmarket Failures/Overview of Interest Groups Assert Power Over Business
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Outline Ø Case Presentation #2: Travelocity Ø Nonmarket Failures Systematically Ø A Quick Retracing of Our Steps Ø Going Forward: Overview of Interest Groups Assert Power over Business Ø Our Last Visit with Wal-Mart
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Ø Case Presentation #2: Travelocity
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Ø Nonmarket Failures Systematically (Wolf)
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Charles Wolf, Jr., “A Theory of Non-Market Failures,” The Public Interest , No. 65 (Spring 1979) …non-market activities are those undertaken by governments and other institutions whose sources of revenue
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Unformatted text preview: come principally from taxes, donations, or other non-price sources, rather than from charging prices in markets—where buyers can choose what to buy, as well as whether, when, and how much. More Wolf Why is it so difficult to build a “visible hand” (the government) to find effective solutions to market failures? Wolf’s Non-Market Failures • Internalities • Redundant and Rising Costs • Derived Externalities • Distributional Inequities Ø A Quick Retracing of Our Steps Ø Going Forward: Overview of Interest Groups Assert Power over Business Ø Our Last Visit with Wal-Mart...
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