Merit Good

(redirected from Merit Goods)

Merit Good

In economics, a good to which persons are believed to have a right. That is, a merit good is something that should be available for free or at reduced prices because it is necessary and the free market does not provide sufficient incentives to produce it. Examples of merit goods may include education and health care, though different jurisdictions define merit goods differently.
Farlex Financial Dictionary. © 2012 Farlex, Inc. All Rights Reserved
Mentioned in ?
References in periodicals archive ?
Moreover, monetary equality will generate claims of social justice on grounds of unequal desert unequal need, merit goods, or some less plausible pretext.
" Nasrul said installment of smart grid and introduction of cashless payment technology in the power sector is a demand of time and then the power would transform into merit goods from public goods.
Merit goods I We may learn a lot by studying "merit goods," he writes, referring to goods that are deemed "loathsome to price." In the economic way of thinking, people undertake projects when the expected benefits exceed the expected costs.
The ecological pillar of sustainability is built on sustained forest stands and additional ecological values such as biodiversity and protection, which are covered by the public and merit goods. Finally, the social sphere deals with linking forests and forestry to society and organizational leadership.
But, obviously the RNR cannot be applied to all goods and services as some are merit goods and some are demerit goods.
He then presents a special account of merit goods, which he deems a special account of a service category of outstanding policy relevance.
It represents one of only five merit goods in the world.
Ethical Dimensions of the Economy: Making Use of Hegel and the Concepts of Public and Merit Goods. Studies in Economic Ethics and Philosophy.
Affordability standards are frequently used in making food and housing policy, but both empirically and theoretically health care operates quite differently than these other merit goods. This helps explain why the use of affordability in health policymaking is so different from its use in these other contexts.
In the theoretical literature, the use of tied or targeted grants is favoured when dealing with externalities generated by local public goods, or when central government wants to expand the provision of certain local public goods that are considered by the society as a whole to be merit goods (Grewal 1981; Bahl and Linn 1992).
AN ANTHOLOGY REGARDING MERIT GOODS: THE UNFINISHED ETHICAL REVOLUTION IN ECONOMIC THEORY.