Routledge Dictionary of Economics, Second Edition
A market not existing now but a possibility in the future to cope with an EXTERNALITY.
The creation of these new markets is undertaken with the aim of reaching a social optimum. Often there is an absence of markets for RISK, information and future goods and HOME PRODUCTION.
References
Hahn, F. (ed.) (1989) The Economics of Missing Markets, Information and Games, Oxford: Clarendon Press.
This is the complete article, containing 64 words
(approx. 1 page at 300 words per page).
View More Summaries on Missing market
