BOZOR QULASHINING SABABLARI VA NAZARIY YONDASHUVLAR
Keywords:
market failure, economic inefficiency, externalities, public goods, information asymmetry, Coase theorem, Pigouvian tax, imperfect competition, government intervention, economic efficiency.Abstract
: This article analyzes one of the key issues of market economies — the causes of market failure — and the theoretical approaches proposed by economists. It compares Adam Smith’s “invisible hand” concept, Arthur Pigou’s tax-based regulation model, and Ronald Coase’s bargaining-based approach, evaluating their strengths and weaknesses. The paper also examines examples of market failure caused by externalities, public goods, information asymmetry, and imperfect competition. In addition, it highlights government intervention, private sector solutions, and cooperation mechanisms to address market failures.
