This document discusses alternative delivery methods for public goods. It begins by defining public goods and categorizing them as pure or impure. Pure public goods are non-rival and non-excludable, while impure goods include club goods, common pool goods, and merit/demerit goods. The document then examines various arrangements for providing different types of public goods, including government production, contracting with private firms, franchising, leasing, and user charges. It concludes by presenting a table assessing the suitability of delivery methods for each public good category.
Download these notes and other resources at https://WeAreQurious.com/Economics
Teaching, learning and revision notes for Negative Externalities and Positive Externalities in A-Level and IB Economics for all exam boards (Edexcel, AQA, OCR, Eduqas, WJEC).
Download these notes and other resources at https://WeAreQurious.com/Economics
Teaching, learning and revision notes for Negative Externalities and Positive Externalities in A-Level and IB Economics for all exam boards (Edexcel, AQA, OCR, Eduqas, WJEC).
Market failure to take note of environmental impacts of economic activity. Why environmental effects are not included in perfect markets. Concept of public goods, externalities. Role of government.
Which goods and services are best left to the market? And which are more efficiently and fairly provided as collective consumption goods by the state? This is at the heart of your revision of public goods. Central to your revision will be to understand why public goods may not be provided by the market. You can work this out by distinguishing between public and private goods and focusing on the ideas of rivalry and excludability in consumption. Students should understand the free rider and valuation problems – there are big debates in economics about the optimum size of the state. Rapid changes in technology are also changing the nature of what is and what is not a public good.
Since pollution is an externality firms will not undertake to control their pollution. The answer is in government regulations. Coase argues that in perfect competition with laissez faire, govt regulation is not needed. Instead bargaining between the polluters and their victims can lead to an optimal situation. But this pre supposes equality in bargaining, and does not take note of ecological consequences of pollution.
Externalities are spill-over effects from production and consumption for which no appropriate compensation is paid
Externalities lie outside the initial market transaction / price
Externalities cause market failure if the price mechanism does not take account of the social costs and benefits of production and consumption
Market failure to take note of environmental impacts of economic activity. Why environmental effects are not included in perfect markets. Concept of public goods, externalities. Role of government.
Which goods and services are best left to the market? And which are more efficiently and fairly provided as collective consumption goods by the state? This is at the heart of your revision of public goods. Central to your revision will be to understand why public goods may not be provided by the market. You can work this out by distinguishing between public and private goods and focusing on the ideas of rivalry and excludability in consumption. Students should understand the free rider and valuation problems – there are big debates in economics about the optimum size of the state. Rapid changes in technology are also changing the nature of what is and what is not a public good.
Since pollution is an externality firms will not undertake to control their pollution. The answer is in government regulations. Coase argues that in perfect competition with laissez faire, govt regulation is not needed. Instead bargaining between the polluters and their victims can lead to an optimal situation. But this pre supposes equality in bargaining, and does not take note of ecological consequences of pollution.
Externalities are spill-over effects from production and consumption for which no appropriate compensation is paid
Externalities lie outside the initial market transaction / price
Externalities cause market failure if the price mechanism does not take account of the social costs and benefits of production and consumption
In the market economy Consumer must be bid for what they wish to buy and must thus reveal their preferences to produce. Producer, in trying to maximize their profits, will produce what consumer want to by and will do so at least cost.
In reality, various difficulties arise. imperfect competition, production may be decreasing cost, Consumer may lack of information.
how to swap pi coins to foreign currency withdrawable.DOT TECH
As of my last update, Pi is still in the testing phase and is not tradable on any exchanges.
However, Pi Network has announced plans to launch its Testnet and Mainnet in the future, which may include listing Pi on exchanges.
The current method for selling pi coins involves exchanging them with a pi vendor who purchases pi coins for investment reasons.
If you want to sell your pi coins, reach out to a pi vendor and sell them to anyone looking to sell pi coins from any country around the globe.
Below is the contact information for my personal pi vendor.
Telegram: @Pi_vendor_247
If you are looking for a pi coin investor. Then look no further because I have the right one he is a pi vendor (he buy and resell to whales in China). I met him on a crypto conference and ever since I and my friends have sold more than 10k pi coins to him And he bought all and still want more. I will drop his telegram handle below just send him a message.
@Pi_vendor_247
What website can I sell pi coins securely.DOT TECH
Currently there are no website or exchange that allow buying or selling of pi coins..
But you can still easily sell pi coins, by reselling it to exchanges/crypto whales interested in holding thousands of pi coins before the mainnet launch.
Who is a pi merchant?
A pi merchant is someone who buys pi coins from miners and resell to these crypto whales and holders of pi..
This is because pi network is not doing any pre-sale. The only way exchanges can get pi is by buying from miners and pi merchants stands in between the miners and the exchanges.
How can I sell my pi coins?
Selling pi coins is really easy, but first you need to migrate to mainnet wallet before you can do that. I will leave the telegram contact of my personal pi merchant to trade with.
Tele-gram.
@Pi_vendor_247
The secret way to sell pi coins effortlessly.DOT TECH
Well as we all know pi isn't launched yet. But you can still sell your pi coins effortlessly because some whales in China are interested in holding massive pi coins. And they are willing to pay good money for it. If you are interested in selling I will leave a contact for you. Just telegram this number below. I sold about 3000 pi coins to him and he paid me immediately.
Telegram: @Pi_vendor_247
how to sell pi coins effectively (from 50 - 100k pi)DOT TECH
Anywhere in the world, including Africa, America, and Europe, you can sell Pi Network Coins online and receive cash through online payment options.
Pi has not yet been launched on any exchange because we are currently using the confined Mainnet. The planned launch date for Pi is June 28, 2026.
Reselling to investors who want to hold until the mainnet launch in 2026 is currently the sole way to sell.
Consequently, right now. All you need to do is select the right pi network provider.
Who is a pi merchant?
An individual who buys coins from miners on the pi network and resells them to investors hoping to hang onto them until the mainnet is launched is known as a pi merchant.
debuts.
I'll provide you the Telegram username
@Pi_vendor_247
how to sell pi coins in South Korea profitably.DOT TECH
Yes. You can sell your pi network coins in South Korea or any other country, by finding a verified pi merchant
What is a verified pi merchant?
Since pi network is not launched yet on any exchange, the only way you can sell pi coins is by selling to a verified pi merchant, and this is because pi network is not launched yet on any exchange and no pre-sale or ico offerings Is done on pi.
Since there is no pre-sale, the only way exchanges can get pi is by buying from miners. So a pi merchant facilitates these transactions by acting as a bridge for both transactions.
How can i find a pi vendor/merchant?
Well for those who haven't traded with a pi merchant or who don't already have one. I will leave the telegram id of my personal pi merchant who i trade pi with.
Tele gram: @Pi_vendor_247
#pi #sell #nigeria #pinetwork #picoins #sellpi #Nigerian #tradepi #pinetworkcoins #sellmypi
Poonawalla Fincorp and IndusInd Bank Introduce New Co-Branded Credit Cardnickysharmasucks
The unveiling of the IndusInd Bank Poonawalla Fincorp eLITE RuPay Platinum Credit Card marks a notable milestone in the Indian financial landscape, showcasing a successful partnership between two leading institutions, Poonawalla Fincorp and IndusInd Bank. This co-branded credit card not only offers users a plethora of benefits but also reflects a commitment to innovation and adaptation. With a focus on providing value-driven and customer-centric solutions, this launch represents more than just a new product—it signifies a step towards redefining the banking experience for millions. Promising convenience, rewards, and a touch of luxury in everyday financial transactions, this collaboration aims to cater to the evolving needs of customers and set new standards in the industry.
Even tho Pi network is not listed on any exchange yet.
Buying/Selling or investing in pi network coins is highly possible through the help of vendors. You can buy from vendors[ buy directly from the pi network miners and resell it]. I will leave the telegram contact of my personal vendor.
@Pi_vendor_247
where can I find a legit pi merchant onlineDOT TECH
Yes. This is very easy what you need is a recommendation from someone who has successfully traded pi coins before with a merchant.
Who is a pi merchant?
A pi merchant is someone who buys pi network coins and resell them to Investors looking forward to hold thousands of pi coins before the open mainnet.
I will leave the telegram contact of my personal pi merchant to trade with
@Pi_vendor_247
Turin Startup Ecosystem 2024 - Ricerca sulle Startup e il Sistema dell'Innov...Quotidiano Piemontese
Turin Startup Ecosystem 2024
Una ricerca de il Club degli Investitori, in collaborazione con ToTeM Torino Tech Map e con il supporto della ESCP Business School e di Growth Capital
The Evolution of Non-Banking Financial Companies (NBFCs) in India: Challenges...beulahfernandes8
Role in Financial System
NBFCs are critical in bridging the financial inclusion gap.
They provide specialized financial services that cater to segments often neglected by traditional banks.
Economic Impact
NBFCs contribute significantly to India's GDP.
They support sectors like micro, small, and medium enterprises (MSMEs), housing finance, and personal loans.
Exploring Abhay Bhutada’s Views After Poonawalla Fincorp’s Collaboration With...beulahfernandes8
The financial landscape in India has witnessed a significant development with the recent collaboration between Poonawalla Fincorp and IndusInd Bank.
The launch of the co-branded credit card, the IndusInd Bank Poonawalla Fincorp eLITE RuPay Platinum Credit Card, marks a major milestone for both entities.
This strategic move aims to redefine and elevate the banking experience for customers.
US Economic Outlook - Being Decided - M Capital Group August 2021.pdfpchutichetpong
The U.S. economy is continuing its impressive recovery from the COVID-19 pandemic and not slowing down despite re-occurring bumps. The U.S. savings rate reached its highest ever recorded level at 34% in April 2020 and Americans seem ready to spend. The sectors that had been hurt the most by the pandemic specifically reduced consumer spending, like retail, leisure, hospitality, and travel, are now experiencing massive growth in revenue and job openings.
Could this growth lead to a “Roaring Twenties”? As quickly as the U.S. economy contracted, experiencing a 9.1% drop in economic output relative to the business cycle in Q2 2020, the largest in recorded history, it has rebounded beyond expectations. This surprising growth seems to be fueled by the U.S. government’s aggressive fiscal and monetary policies, and an increase in consumer spending as mobility restrictions are lifted. Unemployment rates between June 2020 and June 2021 decreased by 5.2%, while the demand for labor is increasing, coupled with increasing wages to incentivize Americans to rejoin the labor force. Schools and businesses are expected to fully reopen soon. In parallel, vaccination rates across the country and the world continue to rise, with full vaccination rates of 50% and 14.8% respectively.
However, it is not completely smooth sailing from here. According to M Capital Group, the main risks that threaten the continued growth of the U.S. economy are inflation, unsettled trade relations, and another wave of Covid-19 mutations that could shut down the world again. Have we learned from the past year of COVID-19 and adapted our economy accordingly?
“In order for the U.S. economy to continue growing, whether there is another wave or not, the U.S. needs to focus on diversifying supply chains, supporting business investment, and maintaining consumer spending,” says Grace Feeley, a research analyst at M Capital Group.
While the economic indicators are positive, the risks are coming closer to manifesting and threatening such growth. The new variants spreading throughout the world, Delta, Lambda, and Gamma, are vaccine-resistant and muddy the predictions made about the economy and health of the country. These variants bring back the feeling of uncertainty that has wreaked havoc not only on the stock market but the mindset of people around the world. MCG provides unique insight on how to mitigate these risks to possibly ensure a bright economic future.
what is the future of Pi Network currency.DOT TECH
The future of the Pi cryptocurrency is uncertain, and its success will depend on several factors. Pi is a relatively new cryptocurrency that aims to be user-friendly and accessible to a wide audience. Here are a few key considerations for its future:
Message: @Pi_vendor_247 on telegram if u want to sell PI COINS.
1. Mainnet Launch: As of my last knowledge update in January 2022, Pi was still in the testnet phase. Its success will depend on a successful transition to a mainnet, where actual transactions can take place.
2. User Adoption: Pi's success will be closely tied to user adoption. The more users who join the network and actively participate, the stronger the ecosystem can become.
3. Utility and Use Cases: For a cryptocurrency to thrive, it must offer utility and practical use cases. The Pi team has talked about various applications, including peer-to-peer transactions, smart contracts, and more. The development and implementation of these features will be essential.
4. Regulatory Environment: The regulatory environment for cryptocurrencies is evolving globally. How Pi navigates and complies with regulations in various jurisdictions will significantly impact its future.
5. Technology Development: The Pi network must continue to develop and improve its technology, security, and scalability to compete with established cryptocurrencies.
6. Community Engagement: The Pi community plays a critical role in its future. Engaged users can help build trust and grow the network.
7. Monetization and Sustainability: The Pi team's monetization strategy, such as fees, partnerships, or other revenue sources, will affect its long-term sustainability.
It's essential to approach Pi or any new cryptocurrency with caution and conduct due diligence. Cryptocurrency investments involve risks, and potential rewards can be uncertain. The success and future of Pi will depend on the collective efforts of its team, community, and the broader cryptocurrency market dynamics. It's advisable to stay updated on Pi's development and follow any updates from the official Pi Network website or announcements from the team.
1. ALTERNATIVE
DELIVERY METHODS
OF PUBLIC GOODS
Prof.Dr.Coskun Can Aktan
Dokuz Eylul University
Faculty of Economics & Management
&
Social Sciences Research Society
http://www.sobiad.org
2. BACKGROUND
The theory of public goods was first developed and
debated by the continental public finance
economists, notably Ugo Mazzola, Knut Wicksell,
Erik Lindahl, Emil Sax and others. However, the
theory of public goods stayed in its infancy until the
1950's. Modern public goods theory can be
attributed to Paul A. Samuelson.
Following Samuelson, other important contributions
to the public goods theory were by R.A.Musgrave
and J.M Buchanan. Their contributions were the
cornerstones of the modern public goods theory.
3. DEFINITION
Samuelson's definition gives two characteristics of
public goods: Indivisibility ("...can not be parcelled out
among different individuals") and Joint Consumption
("all enjoy in common."). The result of those two
characteristics is that once a public good, in
Samuelson's terminology "collective consumption
good" is produced, any given unit of the good can be
made equally available to all. According to the definition
of Samuelson, extention of the supply to one individual
facilitates its extention to all. In other words, supply of a
given unit to one individual, and supply of the same unit
to other individuals are clearly joint products.
4. The goods can be classified mainly into
two groups
Pure goods and impure goods . A pure public
good, what Samuelson calls "collective consumption
good" has mainly two characteristics: Indivisibility
and non-exclusion. Indivisibility refers to the utility of
a good which can not be parcelled out among
different individuals.
Since a pure public good is consumed collectively, it
is impossible to exclude some individuals to benefit
them. For example, exclusion is infeasible for such
goods as air pollution control, street lighting,
national defense, broadcasting TV, law and order
etc.
5. Pure Public Good
Professor James M. Buchanan, in his classic book
on public goods gives the orthodox definition of a
pure public good.
According to the orthodox analysis of public goods,
the polar case of a pure public good is pure private
good which is defined as "divisable" and
"excludable.”
A pure public good has some other characteristics
that a pure private good usually has not. These are:
Externality,
Free rider poblem
Forced rider
6. External Economies-Free Rider-Forced Rider
External economies are defined as the consumption and/or
production activities of an economic unit which affects, the benefit/and
or cost functions of other economic units either positively or negatively
Another important characteristic of a pure public good is that a
"free rider" problem. Individuals do not need to reveal their
preferences concerning which pure public good should be provided,
since they know that even without revealing their preferences they
benefit from services.
On the other hand, a pure public good may have a "forced rider"
characteristic: The term of "forced rider" explains that the supply and
the demand for some particular public goods may be obligatory.
7. Impure Goods
Basides the polar cases of pure goods -that
is pure public and pure private -there are also
some other type of public goods. The other
type of goods under the rubric of "impure
goods".
"Club goods", "common-pool goods” and
"merit/demerit goods" are the main types of
impure public goods.
8.
9.
10.
11. Main Characteristic of a Club Good
A club good is an impure public good whose
benefits are excludable, but partially nonrival. The
main characteristic of a club good are two:
1.Excludable benefits: An exclusion mechanism
could be installed at a reasonable cost.
2.Partially non -rivalness: Benefits are shared by
club members. In other words, there is no rivalness
among club members.
Club goods can be classified into two groups; quasi-
public goods and toll goods.
12. Quasi Public Good
A quasi -public good is akin to the pure
private good in the sense that it has both
divisibility and exclusion features. However, a
quasi -public good generates either positive
or negative external economies. As a matter
of fact, externalities are the distinguished
feature of a quasi -public good. Education
and health are two main examples of quasi -
public goods.
13. Toll Goods
Another type of impure public good is "toll
goods" or it can be called "exclusive club
goods". Toll goods are partially indivisible
(non-rival) goods whose benefit are shared
by club members. Exclusion mechanism
could be installed in return for a fee or a user
charge, that is "toll".
14. Common Pool Goods
Common-pool goods, on the other hand are
divisible, however exclusion is difficult or
sometimes expensive to implement. There is
no need of payment to obtain or to use this
type of goods.
Fishing in the sea or ocean, extracting
minerals from nature, hunting in wild
mountains or jungles etc, are some examples
for common pool goods.
15. Merit Goods and Demerit Goods
Merit goods and Demerit goods are another type of
public goods. The concept of merit goods or "merit
wants" was first introduced by R.A. Musgrave.
"...Merit goods may be defined as those of which,
due to imperfect knowledge, individuals would
choose to consume too little. Symmetrically,
"demerit" goods may be defined as those of which,
due to imperfect knowledge, individuals would
choose to consume too much."
16. Table: 1 Merit/Demerit Goods and
Externalities.
Type of good Emerging Externalities Government Intervention
Merit Goods Positive Externalities 1. Encouraging production by
Grants
2. Encouraging consumption
by voucher system
3. Tax incentives
Demerit Goods Negative Externalities 1. Discouraging production by
Pigovian taxes
2. Regulation on both
production and consumption
17.
18. Table IV-1: Public Goods And Their Characteristics
Type of
PublIc
Goods
Divisibilit
Rivalry)
Indivisibility
(Non-rivalry)
Exclusion/
Non-
exclusion
External
Economies
Economies
of Scale
Free Rider Forced
Rider
CHARACTERISTICS OF GOODS AND SERVICES
PURE GOODS
1.Pure public
Goods
(Inclusive club
goods)
Examples:
defense against
nations,
judiciary
Indivisible Joint
consumptio
n
non-
excludable
May occur
May
occur
Free rider
problem may
occur.
Individuals with
out revealing
their
preferences
benefit from
services.
Individuals may be
forced to demand
some services.
Conscription and
elementary
education are
examples.
2.Pure Private
Goods,
Examples:
Shoes, bread,
automobile,
Divisi
ble
Individual
consumptio
n.
Excludable
.
Do not
occur. Or it
hardly
occurs.
May
occur
There is no
free lunch.
Individuals are
free to demand for
goods and
services.
Source: Aktan, 1992: 31-32
19. Table- IV-1: (Continued) Public Goods And Their Characteristics
CHARACTERISTICS OF GOODS AND SERVICES
Type of
PublIc
Goods
Divisibilit
y
Rivalry)
Indivisibi
lity
(Non-
rivalry)
Exclusi
on/
Non-
exclusi
on
External
Economies
Economies
of Scale
Free
Rider
Forced
Rider
20. Impure Goods
3.Exclusi
ve Club
Goods
3A.
Ouasi-
Public
Goods
Examples:
Education,
Health etc
Partially
Indivisible
Individual
or joint
consumpti
on.
Exclusion
mechanis
m could
be
installed in
return for
a fee.
Occurs.
External
economics
are the
basic
feature of
these
types of
goods
May occur No free
rider
Individuals
may be
compelled
to
demand.
Contagiou
s disases
are
examples
22. Impure Goods
4.Commo
n-pool
Goods
Examples:
Fish in the
sea,
minerals in
the ocean
etc.)
Divisible Individual
or joint
consumpti
on
Exclusion
is difficult
to
implement
.
May occur May occur. There may
be free
riders.
No forced
rider.
4.Common-pool Goods
23. Impure Goods
5.Merit/Demerit Goods
5.Merit/De
merit
Goods
Examples:
elementary
education,
help for
poor, elderly
etc.
Examples
for demerit
goods:
Alcoholic
beverages,
drug use
etc.)
Divisible Induvidual
consumptio
n.
Excludable
Merit goods
spread
external
economies.
Demerit
goods
spread
external dis-
economies.
May occur There may
be rent
seeking
eftorts.
Individuals
also may
fight to
obtain a free
lunch
Forced
rider.
Elementary
education
may be
compulsory
24.
25. ALTERNATIVE DELIVERY
METHODS OF PUBLIC GOODS
Public goods can be provided via many arrangements. First,
govenment itself can provide all type of goods and services.
However, markets fail to provide pure public and common pool
goods. Markets are unable to supply a pure public good-say,
national defense or judiciary-due to their characteristics of
indivisibility and non-exclusion.
Market also fails to supply common pool goods now that their
consumption is free as long as individuals can spend effort to
obtain them.
The reason why this type of goods can not be provided by
marketplace is that exclusion mechanism can be hardly
implemented or sometimes it is too expensive to implement. As a
result of this, free rider usually occurs for this type of goods and
therefore market is not interested in production.
26. Key Terms with Alternative Delivery
Methods of Goods and Services
Government production
Private pruduction
Joint venture
Contracting-out
Leasing
Franchising
Grant system
Voucher system
User charges
Voluntary organizations
Build-operate-own
Build-operate-transfer
27. Although a pure public good can only be provided by
public, a pure private good can be delivered via
numerous arrangements.
First, government itself can produce this type of goods
by establishing public economic enterprises.
Secondly, government can make a contract agreement
with a private firm to supply some private goods and
services.
Third, government can transfer the management of a
specific public service to a private firm (management
contract) or transfer both management and operation
(leasing).
28. ALTERNATIVE DELIVERY METHODS OF PUBLIC GOODS
Pure Pure Toll Common Merit/ Demerit
Private Public Goods Pool Goods
Goods Goods Goods
1. Market (+) (-) (+-) (+-) (+-)
2. Government (-) (G) (+-) (+-) (+-)
3.Contracting Out (+-) (+-) (+-) (+-)
4.Franchising (+-) (+-) (+) (+-)
5.Leasing (+-) (+-) (+-) (+-)
6.Management Contract (J) (+-) (+-)
7.Joint venture (+)
8.User Charges (+)
9.Grant (+-) (+)
10.Voucher (+) (+)
11.Voluntary Organizations (+)
12.Build-Operate-Transfer System (+-) (+-)
Notes: (+) The most successful arrangement.
(+-) Market arrangement is considered more succesful than govemment. However, limited government regulation and control
may be required.
(-) The arrangement is not successful.
(G) Government is the only producer, although the government arrangement is not successful.ü
(J) Arrangement is successful, but government interference should be minimal and management and operation should be performed by
the private firm.
Delivery Methods of Public Goods