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Going the Market One Better

Philip Mirowski and Edward Nik-Khah

in The Knowledge We Have Lost in Information: The History of Information in Modern Economics

Published in print:
2017
Published Online:
June 2017
ISBN:
9780190270056
eISBN:
9780190270087
Item type:
chapter
Publisher:
Oxford University Press
DOI:
10.1093/acprof:oso/9780190270056.003.0009
Subject:
Economics and Finance, History of Economic Thought

Implications of the various candidate models of information led to various problems in reconciliation with the previous microeconomic model; this chapter describes how the history took an unexpected ... More


The Walrasian School of Design

Philip Mirowski and Edward Nik-Khah

in The Knowledge We Have Lost in Information: The History of Information in Modern Economics

Published in print:
2017
Published Online:
June 2017
ISBN:
9780190270056
eISBN:
9780190270087
Item type:
chapter
Publisher:
Oxford University Press
DOI:
10.1093/acprof:oso/9780190270056.003.0011
Subject:
Economics and Finance, History of Economic Thought

This chapter describes the first of three chronological schools of market design, in this chapter the Walrasian School. The primary examples come from work by Leonid Hurwicz and Stanley Reiter. The ... More


The History of Markets and the Theory of Market Design

Philip Mirowski and Edward Nik-Khah

in The Knowledge We Have Lost in Information: The History of Information in Modern Economics

Published in print:
2017
Published Online:
June 2017
ISBN:
9780190270056
eISBN:
9780190270087
Item type:
chapter
Publisher:
Oxford University Press
DOI:
10.1093/acprof:oso/9780190270056.003.0010
Subject:
Economics and Finance, History of Economic Thought

Curiously, early neoclassical economics was a theory of agents, not markets as such. But changes in markets in the late twentieth century began to highlight this lacuna. How information was ... More


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