Market Failure or Success: The New Debateby Tyler Cowen, Eric Crampton
Pub. Date: 02/28/2004
Publisher: Elgar, Edward Publishing, Inc.
Brings together important, previously published papers addressing theories on market failure based on asymmetric information and network effects. The volume's 17 contributions are divided into three sections. The first section focuses on new market failure theories, with pieces addressing a general theory of wage and price rigidities and economic fluctuations, the market for "lemons," and the critics of path dependence and the quest for "historical economics." Theoretical responses in the second part include coverage of efficiency wage models of unemployment and the demand for and supply of assurance. The third part presents empirical and experimental responses including evidence on the empirical significance of credit rationing, public choice experiments, and cooperation in public-goods experiments. Annotation (c)2003 Book News, Inc., Portland, OR
- Elgar, Edward Publishing, Inc.
- Publication date:
- In Association with the Independent Institute Series
- Edition description:
- New Edition
- Product dimensions:
- 6.00(w) x 9.10(h) x 1.10(d)
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