UID:
edocfu_9958373173302883
Format:
1 online resource (xvi, 367 p.)
ISBN:
9781781950005 (e-book)
Content:
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.
Note:
"A book from the Independent Institute."
,
pt. 1. New market failure theories -- pt. 2. Theoretical responses -- pt. 3. Empirical and experimental responses.
Additional Edition:
ISBN 9781843760252 (hardback)
Additional Edition:
ISBN 9781843760856 (pbk.)
Additional Edition:
ISBN 1843760258
Language:
English
Keywords:
Electronic books.
URL:
https://www.elgaronline.com/view/1843760258.xml
