This paper seeks to reopen a discussion that the profession has considered settled and closed, namely, the issue of the optimal quantity of a public good to supply. Its focus is on the determination of the optimal quantity to supply of a public good in the Pigovian model as popularized by...

This paper revisited the analytics of the welfare significance of market imperfections using the industry concentration index. It reopened the issue of how best to measure the concentration index. Specifically, it developed a new market concentration index based on the Hirschman- Herfindahl...