Information and Investment is a classic account of how market economies actually work. Rather than assuming 'perfect knowledge', it is concerned to identify the market structures and arrangements that make it possible for businessmen to have enough information to take investment decisions upon which the allocation of resources depends. It rejects the perfect competition model of economic interdependence and shows that some so-called 'market imperfections' are essential for the operation of the system. When the book was ...
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Information and Investment is a classic account of how market economies actually work. Rather than assuming 'perfect knowledge', it is concerned to identify the market structures and arrangements that make it possible for businessmen to have enough information to take investment decisions upon which the allocation of resources depends. It rejects the perfect competition model of economic interdependence and shows that some so-called 'market imperfections' are essential for the operation of the system. When the book was originally published, in 1960, Richardson's analysis of how market structures affect the availability of necessary information to those working within them represented anew development in economics. it provided a foundation for subsequent work and an intellectual basis for government competition policy. Lhe reissue contains two of Richardson's later papers on related issues and a forward by David J. Teece. It continues to be relevant to economic theorists concerned with the transition from collectivism to market systems in Eastern Europe and the consequent need to devise new institutions for the effective allocation of resources.
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Seller's Description:
This is an ex-library book and may have the usual library/used-book markings inside. This book has soft covers. In fair condition, suitable as a study copy. Please note the Image in this listing is a stock photo and may not match the covers of the actual item, 500grams, ISBN: 9780198292432.
