Prices and Knowledge : A Market-Process Perspective Paperback / softback
by Esteban F. Thomsen
Part of the Routledge Foundations of the Market Economy series
Paperback / softback
- Information
Description
The growth of information economics has lead to a substantial re-consideration of the role of prices.
Instead of the conventional neo-classical view of prices as straightforward indicators of scarcity, information economics emphasises that prices can be sources from which agents infer information and means by which they communicate. Prices and Knowledge analyses different theoretical approaches to the role of prices in situations of imperfect information.
It shows that whilst the `informational efficiency' approach of Grossman and Stiglitz and the `bounded rationality theory' of Nelson and Simon are useful, neither goes far enough in considering situations of disequilibrium.
Information
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Out of StockMore expected soonContact us for further information
- Format:Paperback / softback
- Pages:160 pages
- Publisher:Taylor & Francis Ltd
- Publication Date:23/12/2014
- Category:
- ISBN:9780415755825
Other Formats
- Hardback from £120.66
- EPUB from £39.59
- PDF from £39.59
Information
-
Out of StockMore expected soonContact us for further information
- Format:Paperback / softback
- Pages:160 pages
- Publisher:Taylor & Francis Ltd
- Publication Date:23/12/2014
- Category:
- ISBN:9780415755825
