UID:
kobvindex_HPB1229830062
Format:
1 online resource
ISBN:
9783631408032
,
363140803X
,
9783631755723
,
3631755724
Note:
Cover -- PREFACE -- INTRODUCTION -- Chapter I The Fundamental Issue: Efficiency in Market Economies -- 1 The Separability of Market Systems into an Allocation System and an Information System -- 1.1 The Allocation System -- 1.1.1 PARETO's Paradigm -- 1.1.2 Extension: Market Costs -- 1.1.2.1 Transaction Costs -- 1.1.2.2 Coordination Costs -- 1.1.2.3 Transaction Costs versus Coordination Costs -- 1.1.3 Factor Earnings -- 1.1.3.1 Input Costs -- 1.1.3.2 Managerial Reward -- 1.2 The Information System -- 1.2.1 The Concept of an Information System
,
1.2.2 Entrepreneurial Activity and Managerial Performance -- 1.2.2.1 The Mode of Interaction -- 1.2.2.2 Entrepreneurial Profit -- 1.2.2.3 Structures of Organization and Efficiency -- 1.2.3 The Process of Diffusion of Information -- 1.2.3.1 Profit Erosion as an Indication of Diffusion of Information -- 1.2.3.2 A Simple Model of Profit Erosion -- 1.2.4 Allocation versus Information Processes -- 1.2.5 Possession versus Property -- 2 The Concept of Allocational Efficiency and Informational Efficiency -- 2.1 Efficiency and Rationality in Economic Science -- 2.2 The Concept of Allocational Efficiency
,
2.3 The Concept of Informational Efficiency -- 3 An Efficiency-Preference Function -- Chapter II The Empirical Reference System: Futures Markets -- 1 Definition and Institutional Setup -- 2 Transaction Possibilities with Particular Reference to Conflicting Theories of Hedging -- 2.1 Arbitrage -- 2.2 Hedging -- 2.2.1 Hedging for Risk-Shifting -- 2.2.2 Hedging for Profit-Making -- 2.3 Speculation -- 2.4 Spreading -- 3 Economic Functions of Futures Markets -- 3.1 Microeconomic Functions -- 3.2 Macroeconomic Functions -- 4 Institutional Properties of Futures Markets as an Aid to Theoretical Analysis
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Chapter III The 'Neoclassical' Perspective of Informational Efficiency -- 1 Introductory Notes -- 2 The Arithmomorphic Approach -- 2.1 Presentation of the Basic Idea -- 2.2 Expected Return Models -- 2.3 Statistical Backround -- 2.4 A FAMA-Model of an Informational Efficient Market System -- 2.4.1 Presentation of a FAMA-Model of an Informational Efficient Market System -- 2.4.2 Tests of Informational Efficiency -- 2.4.3 The Problem of Joint Tests -- 2.5 Limitations and Criticism of the Arithmomorphic Approach -- Chapter IV An 'Austrian' Perspective of Informational Efficiency
,
1 Introductory Notes -- 2 An 'Austrian' Perspective -- 2.1 Hedging versus Speculation -- 2.2 Information Processes -- 2.3 Divergent Expectations and Speculative Prices -- 2.3.1 The Idea of Expectations -- 2.3.2 Consensus Expectations versus Divergent Expectations -- 2.3.3 The 'Unquiet Market' -- 2.3.4 The Principle of False-Price-Trading -- 2.3.5 Speculative Prices versus Forecast Prices -- 2.4 Monopoly and Profit -- 2.4.1 The Notion of Friction -- 2.4.2 Monopoly -- 2.4.3 Market Efficiency
In:
Books at JSTOR: Open Access, JSTOR
In:
OAPEN (Open Access Publishing in European Networks), OAPEN
Language:
English
Keywords:
Electronic books.
URL:
Full text available: 1989.
(Available in Books at JSTOR: Open Access.)
URL:
Full text available: 2018.
(Available in Peter Lang eBooks (Open Access).)
URL:
Full text available: 2018.
(Available in OAPEN (Open Access Publishing in European Networks).)
URL:
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