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Prices and Knowledge - A Market-Process Perspective (Hardcover, Annotated Ed) Loot Price: R4,759
Discovery Miles 47 590
Repayment Terms: R446 pm x 12*
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Prices and Knowledge - A Market-Process Perspective (Hardcover, Annotated Ed): Esteban F. Thomsen

Prices and Knowledge - A Market-Process Perspective (Hardcover, Annotated Ed)

Esteban F. Thomsen

Series: Routledge Foundations of the Market Economy

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Loot Price R4,759 Discovery Miles 47 590 | Repayment Terms: R446 pm x 12*

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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" analyzes 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. This book should be of interest to undergraduates and academics in the field of economics.

General

Imprint: Routledge
Country of origin: United Kingdom
Series: Routledge Foundations of the Market Economy
Release date: May 1992
First published: 1992
Authors: Esteban F. Thomsen
Dimensions: 216 x 138 x 17mm (L x W x T)
Format: Hardcover
Pages: 158
Edition: Annotated Ed
ISBN-13: 978-0-415-06865-9
Categories: Books > Business & Economics > Economics > Microeconomics > General
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LSN: 0-415-06865-7
Barcode: 9780415068659

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