160 Pages
by
Routledge
158 Pages
by
Routledge
160 Pages
by
Routledge
Also available as eBook on:
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 analyses different theoretical approaches... Read more
Introduction 1. A Theory of the Market Process 2. Equilibrium Prices and Information 3. `Bounded Rationality' and the Price System 4. Change, Responsiveness and Coordination 5. Conclusions
Biography
Esteban F. Thomsen
`... a careful and admirably brief statement of the case for the market process approach to the theory of price.' - Economic Journal May 93
