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Om boken
Traditional economic theory studies idealized markets in which prices alone can guide efficient allocation, with no need for central organization. Such models build from Adam Smith's famous concept of an invisible hand, which guides markets and renders regulation or interference largely unnecessary. Yet for many markets, prices alone are not enough to guide feasible and efficient outcomes, and regulation alone is not enough, either. Consider air traffic control at major airports. While prices co...Vis mer
Om boken
ISBN
9780231175982
Forlag
Columbia University Press
Publiseringsår
2017
Språk
Utgave
1
Originaltittel
Discovering Prices
Format
Innbundet
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