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Prices and Knowledge: A Market-Process Perspective

Обложка книги Prices and Knowledge: A Market-Process Perspective

Prices and Knowledge: A Market-Process Perspective

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.
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