PRICING, VALUATION AND SYSTEMS - Essays in Neoinstitutional Economics (Hardcover)

Pricing, Valuation and Systems reintroduces American neoinstitutional economics as an alternative to the neoclassical orthodoxy. Neoinstitutionalism, Professor Tool argues, provides a pragmatic analysis that confirms that most prices and costs are set by empowered discretionary agents, not by impersonal free markets. Similarly, the institutional fabric of contemporary economic systems is shown to be defined by agents with power, not natural laws or 'ism' models. The author's analysis is based upon the instrumental value theory of neoinstitutionalism rather than the utility value theory of neoclassicism. It challenges the price theory 'heartland' of neoclassical theory and the 'market shock' approach to restructuring Eastern Europe and offers neoinstitutional alternatives.

General

Imprint:	Edward Elgar Publishing Ltd
Country of origin:	United Kingdom
Release date:	1995
Authors:	Marc R. Tool
Dimensions:	234 x 156 x 24mm (L x W x T)
Format:	Hardcover
Pages:	256
ISBN-13:	978-1-85278-976-3
Categories:	Books > Business & Economics > Economics > Economic theory & philosophy Promotions
LSN:	1-85278-976-X
Barcode:	9781852789763

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