Does the dog wag the tail or... ?

Lyndon Moore and Toby Daglish

No 373202, Competition & Regulation Times from New Zealand Institute for the Study of Competition and Regulation

Abstract: Financial markets are always coming up with new products that financial economists spend a lot of time trying to figure out how to price. In asking what a fair price is, economists sometimes find it hard to tell whether they're being positive or normative: are they describing the prices they see in the market, or are they telling the market what they should be? Toby Daglish and Lyndon Moore ponder their dilemma.

Date: 2011-03-01
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Persistent link: https://EconPapers.repec.org/RePEc:vuw:vuwcrt:373202

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