headerdesktop corintwktrgr26apr24

MAI SUNT 00:00:00:00

MAI SUNT

X

headermobile corintwktrgr26apr24

MAI SUNT 00:00:00:00

MAI SUNT

X

Promotii popup img

-50% -30% la Corint si Leda

siii TRANSPORT GRATUIT

la TOATE comenzile peste 50 lei!

Profita acum!

Economics of Markets: Neoclassical Theory, Experiments, and Theory of Classical Price Discovery

Economics of Markets: Neoclassical Theory, Experiments, and Theory of Classical Price Discovery - Sabiou M. Inoua

Economics of Markets: Neoclassical Theory, Experiments, and Theory of Classical Price Discovery


This book establishes that neoclassical economics based on the marginal utility calculus failed to derive a theory of consumer market price discovery consistent with the experimental market evidence. Such markets involve inherently discrete final-demand items bought for consumption and not subject to resale. Classical economists following Adam Smith articulated a rich narrative of price discovery theory consistent with experimental evidence based on operational concepts of discrete demand values (maximum willingness-to-pay), and symmetrically, supply costs (minimum willingness-to-accept). We develop and extend a mathematical model of classical market price formation. Chapter 1 & 2 describes this theme and chapter 3 connects it with experiments. Chapter 4 builds on experimental examples for an intuitive overview of the theory. A partial equilibrium version of the theory constitutes Chapter 5. Chapter 6 extends this framework to price formation by wealth constrained agents in multiple-goods markets. Chapter 7 applies this framework to the study of re-tradable durable-goods and financial claims that are subject to sources of instability absent in markets for consumer non-durables.

Citeste mai mult

-10%

transport gratuit

PRP: 418.41 Lei

!

Acesta este Pretul Recomandat de Producator. Pretul de vanzare al produsului este afisat mai jos.

376.57Lei

376.57Lei

418.41 Lei

Primesti 376 puncte

Important icon msg

Primesti puncte de fidelitate dupa fiecare comanda! 100 puncte de fidelitate reprezinta 1 leu. Foloseste-le la viitoarele achizitii!

Livrare in 2-4 saptamani

Descrierea produsului


This book establishes that neoclassical economics based on the marginal utility calculus failed to derive a theory of consumer market price discovery consistent with the experimental market evidence. Such markets involve inherently discrete final-demand items bought for consumption and not subject to resale. Classical economists following Adam Smith articulated a rich narrative of price discovery theory consistent with experimental evidence based on operational concepts of discrete demand values (maximum willingness-to-pay), and symmetrically, supply costs (minimum willingness-to-accept). We develop and extend a mathematical model of classical market price formation. Chapter 1 & 2 describes this theme and chapter 3 connects it with experiments. Chapter 4 builds on experimental examples for an intuitive overview of the theory. A partial equilibrium version of the theory constitutes Chapter 5. Chapter 6 extends this framework to price formation by wealth constrained agents in multiple-goods markets. Chapter 7 applies this framework to the study of re-tradable durable-goods and financial claims that are subject to sources of instability absent in markets for consumer non-durables.

Citeste mai mult

De pe acelasi raft

Parerea ta e inspiratie pentru comunitatea Libris!

Acum se comanda

Noi suntem despre carti, si la fel este si

Newsletter-ul nostru.

Aboneaza-te la vestile literare si primesti un cupon de -10% pentru viitoarea ta comanda!

*Reducerea aplicata prin cupon nu se cumuleaza, ci se aplica reducerea cea mai mare.

Ma abonez image one
Ma abonez image one