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Item Details
| Title:
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PRICING, VALUATION AND SYSTEMS
ESSAYS IN NEOINSTITUTIONAL ECONOMICS |
| By: |
Marc R. Tool |
| Format: |
Hardback |
| List price:
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£106.00 |
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We currently do not stock this item, please contact the publisher directly for
further information.
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| ISBN 10: |
185278976X |
| ISBN 13: |
9781852789763 |
| Publisher: |
EDWARD ELGAR PUBLISHING LTD |
| Pub. date: |
1 January, 1995 |
| Pages: |
256 |
| Description: |
Reintroduces American neoinstitutional economics as an alternative to the neoclassical orthodoxy. This book argues that neoinstitutionalism provides a pragmatic analysis that confirms that most prices and costs are set by empowered discretionary agents, not by impersonal free markets. |
| Synopsis: |
Pricing, Valuation and Systems reintroduces American neoinstitutional economics as an alternative to the neoclassical orthodoxy. Neoinstitutionalism, Professor Tool argues, provides a pragmatic analysis that confirms that most prices and costs are set by empowered discretionary agents, not by impersonal free markets. Similarly, the institutional fabric of contemporary economic systems is shown to be defined by agents with power, not natural laws or `ism' models. The author's analysis is based upon the instrumental value theory of neoinstitutionalism rather than the utility value theory of neoclassicism. It challenges the price theory `heartland' of neoclassical theory and the `market shock' approach to restructuring Eastern Europe and offers neoinstitutional alternatives. |
| Publication: |
UK |
| Imprint: |
Edward Elgar Publishing Ltd |
| Returns: |
Returnable |
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