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The Economics of Imperfect Information (Hardcover, New)
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The Economics of Imperfect Information (Hardcover, New)
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Total price: R2,491
Discovery Miles: 24 910
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This book provides a systematic presentation of new microeconomic
theories of imperfect information. Each chapter explores a
particular type of informational asymmetry and reviews major
papers. Wherever possible the theories are compared with
experimental evidence. An extensive bibliography is included. Part
I, statics, begins with an examination of how imperfect price or
quantity information on the buyer's side provides new explanations
of phenomena such as price dispersion and sales or resale price
maintenance. A thorough discussion of private value auctions and
common value auctions follows. Subsequent chapters investigate the
links between uncertainty about personal characteristics and job
signaling, incomplete insurance coverage, and credit rationing by
banks. Part II, dynamics, relates the dynamics of collusion,
predation, and market efficiency to the transmission, pooling, and
aggregation of private information. Game theoretic findings and
their implications for antitrust policy are included.
General
Imprint: |
Cambridge UniversityPress
|
Country of origin: |
United Kingdom |
Release date: |
February 1989 |
First published: |
1988 |
Authors: |
Louis Phlips
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Dimensions: |
229 x 152 x 21mm (L x W x T) |
Format: |
Hardcover
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Pages: |
296 |
Edition: |
New |
ISBN-13: |
978-0-521-30920-2 |
Categories: |
Books >
Business & Economics >
Economics >
Microeconomics >
General
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LSN: |
0-521-30920-4 |
Barcode: |
9780521309202 |
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