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Understanding Markets and Valuing Benefits in Secondary Markets

Learn about different markets and how to measure social benefits and costs in government interventions. Explore examples of primary and secondary markets, with price effects and distorted secondary markets.

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Understanding Markets and Valuing Benefits in Secondary Markets

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  1. Five Valuing Benefits and Costs in Secondary Markets

  2. Figure 5-1(a)Primary Market: Market for Fishing Days

  3. Figure 5-1(b)Secondary Market: Market for Fishing Equipment (No Price Effect)

  4. Figure 5-2(a)Primary Market: Market for Fishing Days

  5. Figure 5-2(b) Secondary Market: Market for Golfing Days (Price Effects)

  6. Figure 5-3Distorted Secondary Market: Market for Fishing Equipment (No Price Effect)

  7. Figure 5-4Market for (a) Beef (b) Chicken

  8. Table 5-1 (continued)Rules for Measuring Social Benefits and Costs of Government Interventions

  9. EXHIBIT 5-2 (continued)

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