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Indirect Interdependencies as a Fundamental

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  • Common, Michael S

Abstract

Interdependencies between agents are recognized as a potential source of market failure. One factor recognized as making potential into actual market failure is publicness or undepletability. This paper argues that indirectness in interdependency encompasses undepletability and is a more useful classificatory principle. An interdependency is indirect when it involves jointness and/or environmental mediation. Indirectness is likely to be pervasive. Copyright 1991 by Scottish Economic Society.

Suggested Citation

  • Common, Michael S, 1991. "Indirect Interdependencies as a Fundamental," Scottish Journal of Political Economy, Scottish Economic Society, vol. 38(2), pages 132-141, May.
    • Handle: RePEc:bla:scotjp:v:38:y:1991:i:2:p:132-41
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    Cited by:

    1. Kolosnitsyna, Marina G. (Колосницына, Марина) & Philippova, Anna V. (Филиппова, Анна), 2017. "Child Benefits and Poverty: The Case of Russia [Детские Пособия И Бедность В России]," Ekonomicheskaya Politika / Economic Policy, Russian Presidential Academy of National Economy and Public Administration, vol. 4, pages 118-153, August.

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