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Market imperfection |
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Market imperfectionAny departure from the ideal benchmark of perfect competition, due to externalities, taxes, market power, etc.Similar MatchesCapital market imperfectionCapital market imperfectionAnything that interferes with the ability of economic agents to borrow and lend as much as they wish at a fixed rate of interest that truly reflects probability of repayment. A common source of imperfection is asymmetric information. |
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