| Title:
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MARKET FAILURE OR SUCCESS
THE NEW DEBATE |
| By: |
Tyler Cowen (Editor), Eric Crampton (Editor) |
| Format: |
Paperback |
| List price:
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£58.95 |
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| ISBN 10: |
1843760851 |
| ISBN 13: |
9781843760856 |
| Publisher: |
EDWARD ELGAR PUBLISHING LTD |
| Pub. date: |
1 February, 2004 |
| Pages: |
384 |
| Description: |
Brings together key papers on market failures, including classic papers by Joseph Stiglitz, George Akerlof and Paul David, along with powerful theoretical and empirical rebuttals of new models of market failure. |
| Synopsis: |
Recent years have seen the development of new theories of market failure based on asymmetric information and network effects. According to the new paradigm, we can expect substantial failure in the markets for labor, credit, insurance, software, new technologies and even used cars, to give but a few examples. This volume brings together the key papers on the subject, including classic papers by Joseph Stiglitz, George Akerlof and Paul David.The book provides powerful theoretical and empirical rebuttals challenging the assumptions of these new models and questioning the usual policy conclusions. It goes on to demonstrate how an examination of real markets and careful experimental studies are unable to verify the new theories. New frontiers for research are also suggested.The first systematic analysis of these important new theories, Market Failure or Success is required reading for all who seek to better understand one of the most exciting debates in economics today. |
| Publication: |
UK |
| Imprint: |
Edward Elgar Publishing Ltd |
| Returns: |
Returnable |