Frank Machovec argues that the assumption of perfect information has done untold economic damage. It has provided the rationale for active state intervention and has obscured the extent to which entrepreneurial activity depends upon the exploitation of asymmetric information.aa(1992b) a#39;Sunk Costs and Market Structure: A Review Articlea#39;, Journal of Industrial Economics, June. Schnitzer ... Research Paper for the National Council for Soviet and East European Research, Washington, DC. ... Seism, L. (1993) a#39; Teachersa#39; Pension Plan to Give Firms Tough Examsa#39;, Wall Street Journal, 6 October.
|Title||:||Perfect Competition and the Transformation of Economics|
|Publisher||:||Routledge - 2002-09-26|