Titlebook: Environmental Economics; Theory and Policy in Hans Wiesmeth Textbook 2022Latest edition The Editor(s) (if applicable) and The Author(s), un

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https://doi.org/10.1007/978-3-322-80383-2fficient market equilibrium. The “internalization” of external effects intends to restore efficiency and reestablish optimality of the equilibrium allocation. Since external effects signal missing markets, the main idea to be examined in this chapter is the immediate establishment of “artificial” ma

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,Modellkomplex III – Das digitale Zeitalter,cular commodity (for example, the protective services of the Earth’s ozone layer); moreover, available supply is more or less independent of the number of consumers. These characteristics “drive” the conclusions of the . and the . and imply additional difficulties for the allocation of public goods.

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