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The Anatomy of Market Failure

Francis M. Bator
Quarterly Journal of Economics 1958 72(3), 351
Introduction, 351. — I. The conditions of market efficiency, 353. — II. Neoclassical external economies: a digression, 356. — III. Statical externalities: an ordering, 363. — IV. Comments, 371. — V. Efficiency, markets and choice of institutions, 377.