Recent years have seen the development of new theories of market failure based on asymmetric information and network effects. According to the new paradigm, we can expect substantial failure in the markets for labour, credit, insurance, software, new technologies and even used cars. macroeconomic disturbances. This volume brings together the key papers on the subject including classic papers by Joseph Stiglitz, George Akerlof and Paul David, along with powerful theoretical and empirical rebuttals of new models of market failure.
Recent years have seen the development of new theories of market failure based on asymmetric information and network effects. According to the new par...
Presents a collection of leading writings in the fields of policy evaluation. The volume focuses on the conceptual issues behind welfare economics, drawing upon contributions from economics, moral philosophy, and social philosophy to show approaches both for and against.
Presents a collection of leading writings in the fields of policy evaluation. The volume focuses on the conceptual issues behind welfare economics, dr...
A Frenchman rents a Hollywood movie. A Thai schoolgirl mimics Madonna. Saddam Hussein chooses Frank Sinatra's "My Way" as the theme song for his fifty-fourth birthday. It is a commonplace that globalization is subverting local culture. But is it helping as much as it hurts? In this strikingly original treatment of a fiercely debated issue, Tyler Cowen makes a bold new case for a more sympathetic understanding of cross-cultural trade. Creative Destruction brings not stale suppositions but an economist's eye to bear on an age-old question: Are market exchange and aesthetic quality...
A Frenchman rents a Hollywood movie. A Thai schoolgirl mimics Madonna. Saddam Hussein chooses Frank Sinatra's "My Way" as the theme song for his fi...
Americans agree about government arts funding in the way the women in the old joke agree about the food at the wedding: it's terrible--and such small portions Americans typically either want to abolish the National Endowment for the Arts, or they believe that public arts funding should be dramatically increased because the arts cannot survive in the free market. It would take a lover of the arts who is also a libertarian economist to bridge such a gap. Enter Tyler Cowen. In this book he argues why the U.S. way of funding the arts, while largely indirect, results not in the terrible and...
Americans agree about government arts funding in the way the women in the old joke agree about the food at the wedding: it's terrible--and such sma...
