The central theme of this important book is that the knowledge on
which business decisions are taken is limited and uncertain, and
that the availability of this knowledge is affected by the nature
of the market structure in place. G.B. Richardson argues that the
accepted theoretical models of market economies are generally based
on assumptions about the knowledge possessed by economic agents
which are ill-specified and unrealistic. As a result these models
fail to explain properly how the economy really works. He examines
the availability to firms of the information they need, as a
function of the market structure within which they operate. Neglect
of this relationship, he maintains, has rendered invalid the
currently prevailing accounts of how markets allocate resources,
and new criteria are proposed for judging the efficiency of
alternative market forms. The book offers a fresh analysis of
competition and cooperation between firms and of the process of
innovation. The Economics of Imperfect Knowledge will be welcomed
by those interested in microeconomic theory, industrial
organization and competition policy.
General
Imprint: |
Edward Elgar Publishing Ltd
|
Country of origin: |
United Kingdom |
Series: |
Economists of the Twentieth Century series |
Release date: |
August 1998 |
Authors: |
G.B. Richardson
|
Dimensions: |
234 x 156 x 23mm (L x W x T) |
Format: |
Hardcover
|
Pages: |
224 |
ISBN-13: |
978-1-85898-849-8 |
Categories: |
Books >
Business & Economics >
Economics >
Economic theory & philosophy
|
LSN: |
1-85898-849-7 |
Barcode: |
9781858988498 |
Is the information for this product incomplete, wrong or inappropriate?
Let us know about it.
Does this product have an incorrect or missing image?
Send us a new image.
Is this product missing categories?
Add more categories.
Review This Product
No reviews yet - be the first to create one!