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Prices and Knowledge: A Market Process Perspective (Foundations of the Market Economy)
Posted on 2010-04-13
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Author: Esteban Thomsen
Publisher: Routledge (1992) Binding: Library Binding, 160 pages pricer: $180.00 ISBN-10: 0415068657 editorialreviews Prices and Knowledge examines the growing field of information economics which views prices not as straightforward indicators of scarcity but as sources of communicating information. Esteban F. Thomsen considers situations of disequilibrium when prices communicate imperfect information. Viewing market activity as a continuing process of change rather than as a fully adjusted state, he demonstrates that disequilibrium prices can become sources of profit opportunities. checked
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