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The theory of markets Book

The theory of markets
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  • The theory of markets
  • Written by author P. J. J. Herings, G. van der Laan and A. J. J. Talman
  • Published by Amsterdam : North-Holland, 1999., May 1999
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Is an equilibrium reached in a de-centralized economy, and if so, what type of equilibrium? What happens if price formation is subject to rigidities? What are the consequences of missing markets, for example for future commodities? Which markets evolve in case of bounded rationality, incomplete information and externalities? How should markets be regulated? How does monetary policy affect the functioning of markets? of the central questions in economic theory - how do markets operate and do they function at all in allocating scarce commodities and resources?


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