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9781843760856

Market Failure or Success : The New Debate

by ;
  • ISBN13:

    9781843760856

  • ISBN10:

    1843760851

  • Format: Paperback
  • Copyright: 2004-04-01
  • Publisher: Edward Elgar Pub
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Table of Contents

Figures xi
Tables xiii
Acknowledgements xv
INTRODUCTION
1. Introduction 3(28)
Tyler Cowen and Eric Crampton
PART 1 NEW MARKET FAILURE THEORIES
2. Toward a general theory of wage and price rigidities and economic fluctuations
31(10)
Joseph E. Stiglitz
3. Keynesian economics and critique of first fundamental theorem of welfare economics
41(25)
Joseph E. Stiglitz
4. The market for 'lemons': quality uncertainty and the market mechanism
66(13)
George A. Akerlof
5. Path dependence, its critics and the quest for 'historical economics'
79(28)
Paul A. David
PART 2 THEORETICAL RESPONSES
6. Information and efficiency: another viewpoint
107(14)
Harold Demsetz
7. Efficiency wage models of unemployment: one view
121(27)
H. Lorne Carmichael
8. Do informational frictions justify federal credit programs?
148(24)
Stephen D. Williamson
9. The demand for and supply of assurance
172
Daniel B. Klein
PART 3 EMPIRICAL AND EXPERIMENTAL RESPONSES
10. Beta, Macintosh and other fabulous tales
195(14)
Stan J. Liebowitz and Stephen E. Margolis
11. Some evidence on the empirical significance of credit rationing
209(30)
Allen N. Berger and Gregory P. Udell
12. An empirical examination of information barriers to trade in insurance
239(30)
John Cawley and Tomas Philipson
13. A direct test of the lemons' model: the market for used pickup trucks
269(6)
Eric W. Bond
14. Public choice experiments
275(13)
Elizabeth Hoffman
15. Non-prisoner's dilemma
288(5)
Gordon Tullock
16. Group size and the voluntary provision of public goods: experimental evidence utilizing large groups
293(33)
R. Mark Isaac, James M. Walker and Arlington W. Williams
17. Cooperation in public-goods experiments: kindness or confusion?
326(21)
James Andreoni
Index 347

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