Public Regulation of Marketing Activity, Part III: A Typology of Regulatory Failures and Implications for Marketing and Public Policy

Abstract

This is the third part of an article which presents comprehensive typologies of market failures (Part 1), regulatory responses (Part II), and regulatory failures. A typology of regulatory failures is provided which examines why public actions intended to correct purported market failures fail to achieve their goals. Key questions that should be addressed in evaluating regulatory responses are discussed.