Deadweight Loss
Bibliographic Data
| ID | 23626580 |
|---|---|
| Authors | Yunwei Gai (0000-0003-4032-3296, Babson College, corresponding author) |
| Year | 2015 |
| Pages | 1-2 |
| Publication date | 2015-01-21 |
| Open Access | Yes |
| Type | CHAPTER |
| Venue | Wiley Encyclopedia of Management (SOURCE_BOOK) |
| Publisher | Wiley (PUBLISHER • GB) |
| DOI | 10.1002/9781118785317.weom080247 |
| OpenAlex | W4245250419 |
| ISBN | 9781118785317 |
| Language | EN |
| References cited | 1 |
Deadweight loss is the net loss of total (consumer plus producer) surplus. It is a result of inefficient resource allocation when the marginal cost of production is not equal to the marginal benefit of the demand. It represents a welfare loss that is not captured by either consumers or suppliers, hence the name “deadweight” loss.
Deadweight loss · Economic surplus · Economics · Marginal cost · Market economy · Microeconomics · Production (economics) · Welfare · Pharmaceutical Economics and Policy
| Highly cited | No |
|---|