ISBN:
9781781950005
Language:
English
Pages:
1 Online-Ressource (xvi, 367 p)
Series Statement:
Edward Elgar E-Book Archive
Parallel Title:
Available in another form
Parallel Title:
Elektronische Reproduktion von Market failure or success
DDC:
330.12/2
Keywords:
Marktversagen
;
Wohlfahrtsökonomik
;
Ökonomische Ideengeschichte
;
Theorie
;
Capitalism
;
Economic policy
;
Economics History 20th century
;
Business cycles
;
Welfare economics
;
Central planning
;
Information theory in economics
;
Electronic books
;
Aufsatzsammlung
;
Marktversagen
;
Asymmetrische Information
;
Institutionenökonomie
;
Wohlfahrtstheorie
Abstract:
Recent years have seen the development of new theories of market failure based on asymmetric information and network effects. According to the new paradigm, we can expect substantial failure in the markets for labor, credit, insurance, software, new technologies and even used cars, to give but a few examples. This volume brings together the key papers on the subject, including classic papers by Joseph Stiglitz, George Akerlof and Paul David. The book provides powerful theoretical and empirical rebuttals challenging the assumptions of these new models and questioning the usual policy conclusions. It goes on to demonstrate how an examination of real markets and careful experimental studies are unable to verify the new theories. New frontiers for research are also suggested
Abstract:
pt. 1. New market failure theories -- pt. 2. Theoretical responses -- pt. 3. Empirical and experimental responses
Note:
"A book from the Independent Institute
,
Includes bibliographical references and index
DOI:
10.4337/9781781950005
URL:
Volltext
(Deutschlandweit zugänglich)
URL:
Deutschlandweit zugänglich
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