2020
DOI: 10.2139/ssrn.3578493
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Access to Sustainable Energy in the Philippines: Market Failure and Political Economy Considerations

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“…The energy efficiency gap arises mainly from market failures. Market failure means that the market does not have the characteristics of the perfect market [13,39]. According to Adam Smith's theory, cited in [40], the four types of market failures are imperfect markets, imperfect competition, imperfect information and asymmetric information.…”
Section: Literature Reviewmentioning
confidence: 99%
“…The energy efficiency gap arises mainly from market failures. Market failure means that the market does not have the characteristics of the perfect market [13,39]. According to Adam Smith's theory, cited in [40], the four types of market failures are imperfect markets, imperfect competition, imperfect information and asymmetric information.…”
Section: Literature Reviewmentioning
confidence: 99%
“…One major component of performance is identified as efficiency (Ozcan, 2014;Yap et al, 2020). The foundation of efficiency is expressed as a ratio of output over input.…”
Section: Statistical Treatment Of Datamentioning
confidence: 99%