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pro vyhledávání: '"SMITH, VERNON"'
Autor:
Inoua, Sabiou, Smith, Vernon
Publikováno v:
Handbook of Experimental Finance, S. Fullbrunn and E. Haruvy (eds), Edward Elgar Publishing (2022)
Experimental results on market behavior establish a lower stability and efficiency of markets for durable re-tradable assets compared to markets for non-durable, or perishable, goods. In this chapter, we revisit this known but underappreciated dichot
Externí odkaz:
http://arxiv.org/abs/2309.03432
Autor:
Inoua, Sabiou, Smith, Vernon
Publikováno v:
The Independent Review, Volume 25, Number 1, Summer 2020
"Economists miss the boat when they act as if Arrow and Debreu's general equilibrium model accurately describes markets in the real world of constant change. In contrast, the classical view on the market mechanism offers a helpful foundation on which
Externí odkaz:
http://arxiv.org/abs/2308.11069
Autor:
Inoua, Sabiou, Smith, Vernon
This paper introduces and formalizes the classical view on supply and demand, which, we argue, has an integrity independent and distinct from the neoclassical theory. Demand and supply, before the marginal revolution, are defined not by an unobservab
Externí odkaz:
http://arxiv.org/abs/2307.00413
Autor:
Inoua, Sabiou, Smith, Vernon
In retrospect, the experimental findings on competitive market behavior called for a revival of the old, classical, view of competition as a collective higgling and bargaining process (as opposed to price-taking behaviors) founded on reservation pric
Externí odkaz:
http://arxiv.org/abs/2307.00410
Autor:
Inoua, Sabiou, Smith, Vernon
The relevance of Adam Smith for understanding human morality and sociality is recognized in the growing interest in his work on moral sentiments among scholars of various academic backgrounds. But, paradoxically, Adam Smith's theory of economic value
Externí odkaz:
http://arxiv.org/abs/2307.00412