Carolina QuotesWith [incomplete or] assymetric information [and that's practically always the case]... Stiglitz and Greenwald proved... markets are inefficient, and that should be the default model.
John Komlos Connected to the Carolinas
Source
Ref: Bruce C. Greenwald and Joseph Stiglitz, "Externalities in Economies with Imperfect Information and Incomplete Markets" (1986) The Quarterly Journal of Economics, Vol. 101, Issue 2, pp. 229-264.
- work
- A Progressive View on the Need for a Paradigm Shift in Economics (Dec 2020)
- year
- 1986
- locator
- pp. 229-264
Cite this record
“With [incomplete or] assymetric information [and that's prac…” John Komlos. Carolina Quotes, record CQ-D6A514AEFA. https://carolinaquotes.com/quote/d6a514aefa
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