The Irrelevance of the Invisible Hand

Hendrik Van den Berg and Matthew Van den Berg

Challenge, 2012, vol. 55, issue 4, 24-49

Abstract: In one of the most original papers published in Challenge, Hendrik Van den Berg and Matthew Van den Berg try to determine whether markets are really complete enough to make the invisible hand a relevant concept. They attempt to calculate what proportion of our transactions does qualify. Some might disagree with how they do this, but their effort is worth scrutiny.

Date: 2012
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DOI: 10.2753/0577-5132550402

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